Eldorado suffers revenue decline

The operator reported that net revenue declined 1% to US$2.3 billion during full 2018.

US.- Eldorado Resorts reported on Thursday its latest financial results, detailing its performance throughout 2018, which recorded a 1% decline in net revenue to US$2.8 billion. On the other hand, EBITDA showed positive signs in 2018.

Fourth quarter results for the company were good and helped maintain decent financial results for the full year: adjusted EBITDA experienced an increase of 22% to US$161.2 million, while for the full year it rose 10% to US$695.6 million. The biggest difference can be seen when comparing operating income, as for the full year it was 1% higher than 2017 to US$388.3 million, but for the last three-month period of the year it increased 80% to US$86.7 million.

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.”