Both MGM casinos sold to Eldorado Resorts – Reno

Two gaming establishments bearing the MGM brand name located in the town of Reno, Nevada, USA, have just been transferred to Eldorado Resorts. The agreement between the two companies was brought to light. Eldorado plans to pay $ 72.5 million cash to MGM Resorts International and the remaining $ 60 million will be paid later. Note that Eldorado already holds 50% of shares of Silver Legacy Resort and stands as majority shareholder of the Circus Reno casino. This new acquisition demonstrates its strong growth in the casino industry. The company will then control seven facilities located in Reno, Louisiana, Pennsylvania, Ohio and Western Virginia.

Note that the company plans to finalize the transaction before the end of 2015. Dan D’Arigo, vice president of MGM announced that employees of the two casinos on sale will be in good hands. He assured that Eldorado Resorts share the same ambition and the same values as MGM. For information, the two concerned gambling establishments are the Pass Railroad to Henderson and Gold Strike to Jean. For information, this sale doesn’t mean that MGM have facing financial problems. Instead, it continues its development. This famous operator of Las Vegas is building new casinos in Maryland, Massachusetts and Macao.

July 24, 2015 by : posted in CASINO, NEWS No Comments

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