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NEWS 28 February 2019

Eldorado Resorts revenue falls marginally to $2.83bn for 2018

By Tim Poole

Eldorado Resorts’ total net revenue fell 1% to $2.83bn for 2018.

Eldorado’s financial results for 2018 provided a mixture of positive and negative outcomes, although some of its competitors certainly enjoyed more success in terms of full-year revenue.

Caesars Entertainment reported a 3% increase to $8.39bn, while MGM Resorts International saw its consolidated net revenue grow by 9% in 2018, to $11.8bn.

Boyd Gaming, meanwhile, reported revenue of $2.63bn for 2018, a 10% increase.

Eldorado’s operating income did rise 1% to $388.3m, while adjusted EBITDA grew 10% to $695.6m.

During Q4, total net revenue was up 1% year-on-year to $671.7m, with operating income up 80% to $86.7m.

Q4 adjusted EBITDA showed an increase of 22% to $161.2m.

Eldorado CEO, Tom Reeg, said: "Eldorado’s record fourth quarter results marked the conclusion of another active and productive year for the company.

"We also positioned the company to benefit from the expected expansion of sports wagering and online poker and casino gaming through long-term agreements with William Hill and The Stars Group, to access our licenses for online sports wagering for real money online gaming and poker operations and, in the case of William Hill, operate our retail sportsbook."

RELATED TAGS: Land-Based | Casino | Financial
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