On December, 23, 2020, Bally’s Corporation (NYSE: BALY) completed the previously announced acquisition of Eldorado Resort Casino Shreveport from Caesars Entertainment, Inc. (NASDAQ: CZR).
The total purchase price of the acquisition was $140m, funded with cash and available borrowings under the company’s revolving credit facility.
Ldorado Casino, the largest of Henderson’s three Water Street casinos, is expected to reopen with a new name and look after being shuttered since last March. Sold by Boyd Gaming Corp. To DeSimone Gaming last December for an undisclosed sum, the Eldorado filed paperwork to begin an exterior makeover and install new signage to reveal it will be renamed as The Pass Casino, as reported by Eater. Eldorado is expected to close the deal in coming days, vaulting a company that began with a single family-owned casino-hotel in Reno, Nevada, in 1973 to the top of the gambling ownership world. Best Casinos in Reno, NV - Peppermill Reno, Grand Sierra Resort and Casino, Atlantis Casino Resort Spa, Silver Legacy Resort Casino, Nugget Casino Resort, Eldorado Resort Casino, Circus Circus Reno, Crystal Bay Casino, Western Village Inn and Casino, The Row Reno.
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. Bally’s will now integrate Eldorado Shreveport into its brand family, and will implement proven strategic initiatives to drive growth and revenue improvements.
The historic Eldorado Casino in downtown Henderson opened on July 1, 1962, marking Bill and Sam Boyd's first venture into co-owning a casino. The historic Eldorado Casino in downtown Henderson opened on July 1, 1962, marking Bill and Sam Boyd's first venture into co-owning a casino.
Beyond Bally’s you can check out US casinos here.
The deal follows the acquisition of Bet.Works, a U.S. based, sports betting platform provider to operators in New Jersey, Iowa, Indiana and Colorado, for $125m.
Bet.Works provides proprietary technology stack and turnkey solutions, which include marketing, operations, customer service, risk management and compliance and the acquisition will enable Bally’s to become the premier, full-service, vertically integrated sports betting and iGaming company in the U.S. integrating and operating physical casinos with digital solutions under a single brand and and launch its B2B2C business model. Betonline full site.
Led by George Papanier, President and Chief Executive Officer, Bally’s Corporation, which has rebranded from Twin River Worldwide Holdings since November 9, 2020, currently owns and manages 11 casinos across seven states, a horse racetrack, and 13 authorized OTB licenses in Colorado.
![Eldorado Eldorado](/uploads/1/3/7/1/137124069/327959106.jpg)
El Dorado Casinos
With more than 5,900 employees, the company’s operations include 13,260 slot machines, 459 game tables and 2,941 hotel rooms. Properties include Golden Gates Casino (Black Hawk, CO), Golden Gulch Casino (Black Hawk, CO), Mardi Gras Casino (Black Hawk, CO), and Arapahoe Park racetrack (Aurora, CO), Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Dover Downs Hotel & Casino (Dover, DE), Hard Rock Hotel & Casino (Biloxi, MS), Casino Vicksburg (Vicksburg, MS), Bally’s Atlantic City (Atlantic City, NJ), Casino KC (Kansas City, MO), and Eldorado Resort Casino Shreveport (Shreveport, LA). Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN), Jumer’s Casino & Hotel (Rock Island, IL), and MontBleu Resort Casino & Spa (Lake Tahoe, NV), and the construction of a Category 4 licensed casino located within a 15-mile radius of Unionville Borough, Centre County, Pennsylvania, Bally’s will own and manage 15 casinos across 11 states.
Eldorado Casino
This latest facility will be built under the signing of a framework agreement with Ira Lubert to jointly design, develop, construct and manage the casino. The construction is expected to begin the first half of 2021 and will take approximately one year to complete.
Eldorado Casino Henderson
In the third quarter of 2020, the company reported adjusted EBITDA of $38.0m up $2.4m, or 6.8%, from the same period in 2019 and income from operations of $23.4m, increased $1.9m or 9.0%, while net income of $6.7m was slightly down, compared to third quarter 2019.
Eldorado Casino | |
---|---|
Location | Henderson, Nevada |
Address | 140 S Water Street |
Opening date | February 15, 1961; 59 years ago |
Total gaming space | 17,756 sq ft (1,649.6 m2) |
Notable restaurants | Mariana's The Cafe Snack Bar |
Casino type | Land-based |
Owner | Boyd Gaming |
Previous names | Wheel Casino |
Renovated in | 2007 |
Website | eldoradocasino.com |
The Eldorado Casino is a casino in Henderson, Nevada, owned and operated by Boyd Gaming.
The casino is 17,756 square feet (1,649.6 m2) and has 434 slot machines, a keno parlor, bingo parlor, and sports book.[1][2]
History[edit]
The Wheel Casino opened on February 15, 1961.[3]
Eldorado Casino Reno Nevada
By 1962, the Wheel was closed, and Paul Perry agreed to buy it. Attorney Bill Boyd represented him in the transaction, in exchange for a stake in the property. Boyd brought in other investors: a fellow lawyer, his aunt, and his father, Sam Boyd, general manager of the Mint.[4] They reopened it as the Eldorado Casino on July 1.[3]
Around 1965, they acquired the adjacent Royal Club, doubling the Eldorado's size.[5]
The Boyds took over ownership in 1966. Sam bought half of the property for $6,667 and Bill bought a quarter for $3,000, while another of the original investors, Joe Crowley kept the remaining quarter, until he was later bought out.[3] The Boyds tried to emphasize Henderson's small-town feel in operating the casino.[5]
A $1.5-million renovation in 1977 expanded the casino to 30,000 square feet (2,800 m2), to keep up with the town's growth.[3]
Boyd Gaming acquired the casino in 1993.[6] The company uses it as a training ground for executives, because its small size requires a hands-on management approach.[4]
We’re a premier modular home company in the Shreveport, LA area. Bear Creek has a variety of Modular Homes and Manufactured Homes for sale. We offer many Custom Homes, and of course many are available built to Hud Code or as Modular Homes. Also, Many of our floor plans can be customized to fit your family’s needs. Eldorado Shreveport offers a casino with slot machines, table games, and an entertainment stage. Facials, massages, and nail services are provided at La Spa. A gift shop is also available. The Vintage Restaurant & Bar is a fine dining steakhouse open for dinner. Now $62 (Was $̶1̶8̶3̶) on Tripadvisor: Eldorado Resort Casino, Shreveport. See 1,156 traveler reviews, 320 candid photos, and great deals for Eldorado Resort Casino, ranked #8 of 40 hotels in Shreveport and rated 4 of 5 at Tripadvisor. Eldorado shreveport. Escape to the Eldorado Resort Casino Shreveport and experience timeless luxury and friendly, personal service in the heart of Downtown Shreveport. Lose yourself in the non-stop excitement and elegance of our luxurious Shreveport resort casino. Experience a variety of world-class fine dining from four award-winning restaurants. View deals for Eldorado Resort Casino Shreveport, including fully refundable rates with free cancellation. Guests enjoy the comfy beds. Louisiana Boardwalk is minutes away. WiFi and parking are free, and this hotel also features 5 restaurants.
In 2007, a $700,000 renovation was completed.[7]
In 2020, Boyd agreed to sell the casino to DeSimone Gaming, the parent company of the Railroad Pass Casino.[8]
References[edit]
- ^Nonrestricted Square Footage Report (Report). Nevada Gaming Commission. January 13, 2012. Retrieved 2012-06-27.
- ^Nonrestricted Count Report (Report). Nevada Gaming Commission. April 16, 2012. Retrieved 2012-06-27.
- ^ abcdLyle, Michael (June 26, 2012). 'Henderson's Eldorado Casino to celebrate golden anniversary'. Las Vegas Review-Journal. Retrieved 2012-06-27.
- ^ abMcGarry, Caitlin (June 30, 2012). 'Eldorado still family business'. Las Vegas Review-Journal. Retrieved 2012-07-01.
- ^ abSheehan, Jack (1997). The Players: The Men Who Made Las Vegas. University of Nevada Press. p. 112. ISBN978-0-87417-306-2. Retrieved 29 February 2012.
- ^Krane, Elliot S. (February 6, 1994). 'Boyd's profits up'. The Press of Atlantic City. via NewsBank. Retrieved 2012-07-01.(subscription required)
- ^KLAS-TV newscast 2007-08-30 at 4:30PM
- ^Bryan Horwath (December 10, 2020). 'Boyd Gaming sells Eldorado Casino in downtown Henderson'. Vegas Inc. Retrieved 2020-12-15.
External links[edit]
Coordinates: 36°01′55″N114°59′00″W / 36.032058°N 114.983296°W
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