Eldorado registers impressive third quarter

The three-month period was characterised by an increase in adjusted EBITDA in 17 of its 21 properties.

US.- Eldorado Resorts has released its latest report, which shows that operating results for the third quarter, ended September 30, showed an increase in net revenue, operating income and adjusted EBITDA.

The third quarter was an impressive period of growth for Eldorado Resorts as adjusted EBITDA rose at 17 of the company’s 21 properties, including of the Grand Victoria Casino which was acquired in August. As a result, all five of the property’s segments generated year-over-year adjusted EBITDA growth, including double-digit growth for the South, East and Central segments, explains Gary Carano, Chairman and Chief Executive Officer of Eldorado.

“In addition, the third quarter Adjusted EBITDA margin rose at all five of our reporting segments with the increases ranging between 200 and 690 basis points as we continue to apply operational discipline focused on delivering profitable revenue and driving strong EBITDA gains,” said Carano.

Moreover, third-quarter consolidated Adjusted EBITDA rose 12.6% on a year-over-year basis on top of the strong 16.2% growth achieved in the prior year period, the property-level Adjusted EBITDA margin improved 370 basis points to 28.7% and consolidated Adjusted EBITDA margin rose 360 basis points to 27.4%.

“We are excited about our future as we continue to integrate our newly acquired properties, focus on initiatives that are expected to deliver margin improvement from our operations, invest in facility enhancements that are anticipated to deliver attractive returns, and position ourselves to benefit from developing sports wagering opportunity in the US,” added Carano.