Eldorado agrees sale of Shreveport resort and casino for 230m

Eldorado Resorts has agreed to sell its resort and casino in Shreveport, Louisiana to Maverick Gaming for $230m in cash.

The transaction is expected to close in 2020, subject to regulatory approval and the closure of Eldorado’s merger with Caesars Entertainment.

Tom Reeg, CEO 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.”

Last year, it was agreed Eldorado would acquire Caesars in a deal worth $17.3bn. The merger was approved by shareholders in November.

Eldorado made a number of property sales in 2019 ahead of the planned acquisition.

July saw the operator sell two of its properties to Twin River for a fee of $230m in cash.

In December, Century Casinos received approval from the Missouri Gaming Commission to acquire the Isle Casino Cape Girardeau and Lady Luck Caruthersville from Eldorado.

The deal, which was worth approximately $107m, also included the acquisition of Mountaineer Casino, Racetrack and Resort, located in West Virginia.