Eldorado to divest, continue debt reduction ahead of Caesars merger

By Sarah Lizee

Olympia, Wash., Jan. 13 – Eldorado Resorts, Inc. announced on Monday that, consistent with its focus on reducing debt ahead of the expected closing for the Caesars merger, it plans to sell its Eldorado Resort and Casino in Shreveport, La., to Maverick Gaming LLC for $230 million in cash.

The transaction is subject to regulatory approvals, the prior or concurrent closing of Eldorado’s merger with Caesars, and other customary closing conditions and is expected to close in 2020.

“The agreement to divest the Eldorado Shreveport is consistent with our continued focus on reducing debt ahead of the expected closing for the Caesars transaction in the first half of 2020,” Tom Reeg, chief executive officer of Eldorado, said in the release.

Eldorado is a Reno, Nev.-based casino entertainment company.

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