Eldorado Sells Shreveport Casino and Resort for More Than $200 Million

Date Created: Jan 14
Written by Jerico

Shreveport, Louisiana - The sale of the Eldorado Shreveport Casino and Resort in Louisiana has finally ended in a deal that will cost Maverick Gaming a staggering $230 million. This after Eldorado Resorts agreed to sell the property to get rid of debt in order to zero in on the Caesars deal this year. The transaction is set to be concluded before the end of the year.

According to sources, this deal is as good as done but still has to undergo regulatory approval. This is due to Eldorado’s impending merger with Caesars Entertainment. The deal with Caesars is worth $17.3 B, which is what prompted the company to sell off some of its properties.

Included in the earlier sales to come up with the rather sizable amount needed for the acquisition include the Lady Luck Caruthersville and Isle Casino Cape Girardeau. Both were sold to Century Casinos after it got the Missouri Gaming Commission’s approval for the sale.

Another property that Eldorado let go to help them come up with the funds for the merger later this year includes Mountaineer Racetrack, Resort, and Casino in West Virginia. The closing of the deal with Caesars is expected to come to fruition in the first half of this year while the company continues to divulge itself of other assets to further decrease the debts they are to incur for such a move.