Shreveport Casino, a division of Eldorado Resorts Inc. is being sold by ERI to Maverick Gaming LLC for a sum of USD$230 million. The sale of the Shreveport Casino comes as Eldorado Resorts prepares to finalize its $17.3 billion takeover of Caesars Entertainment Corp which is expected to be completed in the first half of 2020. Upon the Shreveport Casino acquisition, Maverick will gain entry into the Louisiana gaming industry which will be its first expansion out of Nevada.
The Shreveport Casino sale is subject to the merger between Eldorado Resorts and Caesars Entertainment, as well as customary closing conditions and some regulatory approvals. Maverick has proven to be quite busy in recent months. In the last quarter of 2019, they revealed a business deal that included the purchase of about 25 card rooms as well as an additional three casinos in Colorado. From the purchase of Shreveport, Casino Maverick will gain a hotel that boasts 400 rooms, more than 45 table games as well as over 1000 slot games.
Shreveport Casino Purchase Expands Maverick Gaming Portfolio
News about Maverick purchase of Shreveport Casino comes just a month after the company completed the purchase of gaming and non-gamin assets from the largest casino operator in Colorado, CC Gaming. Maverick Gaming did not only add Shreveport Casino to its portfolio recently, but the transaction with CC Gaming added the Z Casino in Black Hawk, and the Z Stop Convenience Store and Gas in Golden as well as Grand Z Casino Hotel in Central City, Johnny Z’s Casino in Central City to Maverick’s growing portfolio.
With Maverick Gaming being on the constant search for properties and continuing its efforts to take up space in the gaming sector, Eldorado has been on a different path. ERI has been selling properties in numbers in an attempt to prepare for its merger with Caesars Entertainment. This deal will see the creation of the largest operator of land-based casinos in the USA.
Eldorado Resorts CEO Comments on Shreveport Casino Sale
Tom Reeg, Eldorado Resorts CEO, has stated that the sale of their casino in Louisiana is in line with their efforts to reduce any kind of debt they may have ahead of finalizing the Caesars Entertainment merger.
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