Eldorado has revealed that it will sell the casino resort in Shreveport to Maverick Gaming for US$230 million.
US.- Eldorado Resorts announced on Monday that it has entered into a definitive agreement to sell the Eldorado Resort and Casino in Shreveport, Louisiana to Maverick Gaming for US$230 million in cash.
While the transaction is subject to regulatory approvals, it is likely to close this year. Before this transaction can happen, the company expects to close the previously announced merger with Caesars Entertainment.
Tom Reeg, Chief Executive Officer of Eldorado, said: “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.”
The US$17.3 billion merger deal with Caesars, which includes debt, will reach completion sometime in the first half of 2020. The company could reduce some of the debt by separating the sports business.
Reeg recently said that he believed that they weren’t properly enjoying the potential. Reeg also said that the company will likely sell a casino on the Las Vegas Strip this year. Some experts believe that the casino that the company will sell is Planet Hollywood.