Eldorado Casino and Resort in Shreveport is to be sold to Maverick Gaming LLC by Eldorado Resorts, Inc in a deal reportedly in the region of 206 million Euro.
The sale, which is currently pending, is subject to the closing of a merger that is taking place between Caesars Entertainment Corporation.
Tom Reeg, CEO of Eldorado Resorts Inc since May 2019 commented on the deal:
“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”.
Eric Persson, who was born in Washington and is a member of Shoalwater Bay Indian Nation is the current owner of Maverick Gaming LLC. He currently owns 26 different casinos in Nevada and Washington and commented on the announcement:
“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.”
Maverick Gaming LLC outlined financing proposals from private investment firms Angelo Gordon and HG Vora Capital Management to pay for the acquisition. Mr Persson continued:
“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.”