Maverick Gaming Enters Into Agreement To Purchase The Eldorado Shreveport Casino And Resort For $230 Million

Submitted by admin on Mon, 13/01/2020 - 15:54

Las Vegas, Nevada – January 13, 2020 – Maverick Gaming LLC (“Maverick” or the “Company”) announced today that it has entered into a definitive agreement to purchase the Eldorado Casino and Resort in Shreveport, Louisiana from Eldorado Resorts, Inc. (NASDAQ: ERI) for $230 million. The transaction, once closed, will add approximately1,500 slots, 50 table games, over 400 hotel rooms and six restaurants to the Maverick portfolio.

“Maverick continues to bet on diversified economies as we expand our gaming portfolio. The population in the Dallas market exceeds 7.5 million people, and Dallas encompasses the third-largest concentration of Fortune 500 companies in the United States. Maverick’s focus to date has been on the growing, vibrant and dynamic economies of Salt Lake City, Utah Seattle, Washington and Denver, Colorado. The Company now adds Dallas to that list” said Eric Persson, owner of Maverick Gaming.

Maverick intends to fund this transaction primarily with cash on hand and financing from HG Vora Capital Management and Angelo Gordon, both of which are private investment firms. “HG Vora is an important financing partner for Maverick Gaming with deep experience in the gaming and lodging sector, and we are pleased to also begin a new strategic partnership with Angelo Gordon, a firm that brings a strong track record in providing innovative finance solutions. We look forward to growing our portfolio over the near term in partnership with both investment firms” Mr. Persson commented.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in 2020.

About Maverick Gaming, LLC

Maverick Gaming is majority-owned and was founded by gaming industry veterans Eric Persson, who previously served as Global Senior Vice President of Slots at Las Vegas Sands and Justin Beltram, former Vice President of Slots at Bellagio and Marina Bay Sands. Together they bring over 30 years of gaming experience spanning gaming markets around the world including the Las Vegas Strip (Venetian, Palazzo, Bellagio), Macau (Sands China Limited), Singapore (Marina Bay Sands), and many regional markets in North America.

Maverick Gaming currently owns twenty six properties across three States. In Nevada Maverick owns the Wendover Nugget and Red Garter Hotel, the Red Lion Casino, the Gold Country Casino. Maverick owns 19 card rooms in Washington State and three casinos in Black Hawk/Central City Colorado. Maverick’s portfolio includes approximately 1,500 slot machines, nearly 350 table games and 1,200 hotel rooms nationwide.

About Eldorado Resorts, Inc.

Eldorado Resorts is a leading casino entertainment company that owns and operates twenty-three properties in eleven states, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, New Jersey, and Ohio. In aggregate, Eldorado’s properties feature approximately 24,800 slot machines, VLTs and e-tables and approximately 820 table games, and over 11,800 hotel rooms. For more information, please visit www.eldoradoresorts.com.