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03 July

Eldorado Resorts Sell Three Properties

July 03, 2019
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Casino entertainment company Eldorado Resorts has gone forward with a deal to sell three of its properties located in Missouri and West Virginia.

On Monday, Eldorado Resorts stated that it would sell Mountaineer Casino Racetrack and Resort, Lady Luck Casino Caruthersville, and Isle Casino Cape Girardeau. The estimated price for the resorts is $385 million.

In this deal, physical assets of the three venues will be sold to VICI Properties, the company that spun off Caesars in 2017 for $278 million. The operating assets will be vended to Colorado-based gaming company Century Casinos for $107 million.

While announcing the deal, Eldorado Resorts CEO Tom Reeg stated that the sale reflected the company’s aim at creating value through sales and achieving growth by means of strategic acquisitions.

Provided that the sale goes on as planned, the gambling operator will have 23 properties remaining under its ownership.

The deal is set to be completed early next year.

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