Eldorado Resorts draws down $465 million under revolving facility

By Sarah Lizee

Olympia, Wash., March 17 – Eldorado Resorts, Inc. drew down on its revolving credit facility due Oct. 1, 2023 in an amount equal to $465 million, resulting in a total of $483.2 million currently outstanding under the facility, according to an 8-K filing with the Securities and Exchange Commission.

The total amount outstanding includes $18.2 million in letters of credit.

The company said it made the borrowing to provide liquidity in light of the closure of the company’s properties as a result of the spread of the Covid-19 virus.

The company also announced temporary closures of its casino properties in Colorado, Ohio, Illinois, Indiana, Louisiana, Mississippi and New Jersey.

Eldorado is a Reno-based casino entertainment company.

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