Operator News
US – Bally’s completes its move for Eldorado Resort Casino Shreveport
By Phil - 4 January 2021
Bally’s Corporation has completed the previously announced acquisition of Eldorado Resort Casino Shreveport from Caesars Entertainment for $140m, subject to customary adjustments, and was funded with cash on hand and available borrowings under the Company’s revolving credit facility.
“Eldorado Shreveport represents the latest step in our ongoing portfolio diversification strategy, expanding our rapidly growing geographic footprint into the attractive Shreveport/Bossier City market,” said George Papanier, President and Chief Executive Officer of Bally’s Corporation. “Eldorado Shreveport is a first-class, premier entertainment asset that is emblematic of the iconic Bally’s brand. With the close of this transaction, we are looking forward to integrating Eldorado Shreveport into the Bally’s family, and implementing our proven strategic initiatives to drive growth and revenue improvements.”
Eldorado Resort Casino Shreveport is located in Shreveport, Louisiana, and is situated right on the banks of the Red River. This premier property includes 1,401 slots, 54 tables and 403 hotel rooms.
“The completion of the sale of Eldorado Resort Casino Shreveport satisfies the Federal Trade Commission request to divest the asset in connection with the Caesars-Eldorado transaction which closed earlier this year,” said Tom Reeg, CEO of Caesars Entertainment, Inc. “Since our acquisition of the property fifteen years ago, our Team Members’ passion and commitment have driven our success in Shreveport. We wish all of them continued success under Bally’s ownership.”
