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Eldorado Resorts announces proposed common stock offering

9 Jul 2015

(PRESS RELEASE) -- Eldorado Resorts, Inc. announced today that it intends to file a registration statement relating to an underwritten offering of common stock (the “Common Stock Offering”). The Company intends to sell shares of common stock to generate aggregate net proceeds of approximately $60 million, prior to the exercise of the underwriters’ option to purchase additional shares. The number of shares sold in the offering, if any, will be subject to market conditions.

The Company intends to apply the proceeds from the Common Stock Offering to pay a portion of the purchase price for the purchase of all of the assets of Circus Circus Hotel Casino - Reno and the 50 percent interest in the Silver Legacy Resort Casino joint venture (the “Silver Legacy Joint Venture”) that is currently owned by a subsidiary of MGM Resorts International, including repayment of amounts outstanding under the Silver Legacy Joint Venture credit facility and pay fees and costs associated with such transactions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy common stock to be offered in the Common Stock Offering, nor shall there be any sale of common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
 
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