Eldorado Resorts to Sell Montbleu Resort Casino & Spa to Maverick Gaming
Eldorado Resorts, Inc. (NASDAQ: ERI) ("Eldorado," "ERI," or "the Company") announced that it has entered into a definitive agreement to sell the Montbleu Resort Casino & Spa in Lake Tahoe, Nevada to Maverick Gaming LLC.
The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close in the second half of 2020.
Tom Reeg, Chief Executive Officer of Eldorado, commented, "The agreement to divest Montbleu is consistent with our continued focus on the expected closing for the Caesars transaction in the first half of 2020."
Macquarie Capital is acting as exclusive financial advisor and Milbank LLP is acting as legal counsel to Eldorado in connection with the proposed transactions.
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