Eldorado Resorts Reports Second Quarter Net Revenue of $426.8 Million, Operating Income of $(17.6) Million and Adjusted EBITDA of $100.0 Million

RENO, Nev.–(BUSINESS WIRE)–Eldorado Resorts, Inc. (NASDAQ: ERI) (“Eldorado,” “ERI,” or “the
Company”) today reported operating results for the second quarter ended
June 30, 2017.

           
Total Net Revenue
($ in thousands, except per share data) Three Months Ended
June 30,
2017  

2017 Pre-
Acquisition(1)

  2017 Total(2)   2016  

2016 Pre-
Acquisition(3)

 

2016
Total(2)

  Change
West $ 98,360 $ 11,001 $ 109,361   $ 84,161 $ 31,730   $ 115,891   (5.6)%
Midwest 67,503 36,279 103,782 102,247 102,247 1.5%
South 69,617 21,259 90,876 32,088 63,232 95,320 (4.7)%
East 119,564 2,990 122,554 115,066 9,375 124,441 (1.5)%
Corporate and Other   136     45     181       20     20   805.0%
Total Net Revenue $ 355,180   $ 71,574   $ 426,754   $ 231,315   $ 206,604   $ 437,919   (2.5)%
 
  Operating (Loss) Income
($ in thousands, except per share data) Three Months Ended
June 30,
2017  

2017 Pre-
Acquisition(1)

  2017 Total(2)   2016  

2016 Pre-
Acquisition(3)

 

2016
Total(2)

  Change
West $ 16,468   $ 2,709   $ 19,177   $ 13,655   $ 6,163   $ 19,818   (3.2)%
Midwest 15,408 10,637 26,045 20,387 20,387 27.8%
South 11,069 3,943 15,012 5,541 10,131 15,672 (4.2)%
East 18,153 (197) 17,956 14,934 (1,215) 13,719 30.9%
Corporate and Other   (93,214)     (2,550)     (95,764)   (4,475)   (8,464)     (12,939)   (640.1)%
Total Operating (Loss) Income $ (32,116)   $ 14,542   $ (17,574)   $ 29,655   $ 27,002   $ 56,657   (131.0)%
 
  Adjusted EBITDA
($ in thousands, except per share data) Three Months Ended
June 30,
2017  

2017 Pre-
Acquisition(1)

  2017 Total(2)   2016  

2016 Pre-
Acquisition(3)

 

2016
Total(2)

  Change
West $ 23,105   $ 3,640   $ 26,745   $ 18,915   $ 8,297   $ 27,212   (1.7)%
Midwest 20,468 12,686 33,154 30,224 30,224 9.7%
South 15,774 5,425 21,199 7,456 14,343 21,799 (2.8)%
East 26,541 42 26,583 24,039 (124) 23,915 11.2%
Corporate and Other (3)   (5,917)     (1,729)     (7,646)     (3,758)     (6,623)     (10,381)   26.3%
Total Adjusted EBITDA (4) $ 79,971   $ 20,064   $ 100,035   $ 46,652   $ 46,117   $ 92,769   7.8%
 
Net (Loss) Income                                           $ (46,328)                                             $ 10,791
Basic EPS $ (0.69) $ 0.23
Diluted EPS

$

(0.69)

$ 0.23
 
         
Total Net Revenue
($ in thousands, except per share data) Six Months Ended
June 30,
2017  

2017 Pre-
Acquisition(1)

  2017 Total (2)   2016  

2016 Pre-
Acquisition(3)

 

2016
Total (2)

  Change
West $ 161,061 $ 43,414 $ 204,475   $ 156,932 $ 63,759 $ 220,691   (7.3)%
Midwest 67,503 142,237 209,740 207,149 207,149 1.3%
South 101,528 92,002 193,530 66,530 137,631 204,161 (5.2)%
East 225,877 11,717 237,594 221,419 17,724 239,143 (0.6)%
Corporate and Other   136     226     362         30     30   1,106.7%
Total Net Revenue $ 556,105   $ 289,596   $ 845,701   $ 444,881   $ 426,293   $ 871,174   (2.9)%
 
  Operating (Loss) Income
($ in thousands, except per share data) Six Months Ended
June 30,
2017  

2017 Pre-
Acquisition(1)

  2017 Total (2)   2016  

2016 Pre-
Acquisition(3)

 

2016
Total (2)

  Change
West $ 17,994   $ 9,525   $ 27,519   $ 19,219   $ 13,109   $ 32,328   (14.9)%
Midwest 15,408 34,819 50,227 42,867 42,867 17.2%
South 16,987 19,165 36,152 12,043 26,179 38,222 (5.4)%
East 33,195 (1,072) 32,123 28,665 (2,543) 26,122 23.0%
Corporate and Other   (101,551)     (8,811)     (110,362)     (12,010)     (15,520)     (27,530)   300.9%
Total Operating (Loss) Income $ (17,967)   $ 53,626   $ 35,659   $ 47,917   $ 64,092   $ 112,009   (68.2)%
 
  Adjusted EBITDA
($ in thousands, except per share data) Six Months Ended
June 30,
2017  

2017 Pre-
Acquisition(1)

  2017 Total(2)   2016  

2016 Pre-
Acquisition(3)

 

2016
Total (2)

  Change
West $ 29,434   $ 13,231   $ 42,665   $ 29,908   $ 17,427   $ 47,335   (9.9)%
Midwest 20,468 46,856 67,324 62,636 62,636 7.5%
South 23,624 24,918 48,542 15,903 34,483 50,386 (3.7)%
East 50,619 (120) 50,499 46,944 (376) 46,568 8.4%
Corporate and Other (4)   (10,769)     (5,996)     (16,765)     (7,766)     (11,996)     (19,762)   (15.2)%
Total Adjusted EBITDA (5) $ 113,376   $ 78,889   $ 192,265   $ 84,989   $ 102,174   $ 187,163   2.7%
 
Net (Loss) Income                                         $ (45,307)                                               $ 14,160
Basic EPS $ (0.79) $ 0.30
Diluted EPS

$

(0.79)

$ 0.30
 
(1)   Figures are for Isle of Capri Casinos, Inc. (“Isle”) for the one and
four months ended April 30, 2017, the day before ERI acquired Isle
on May 1, 2017. ERI reports its financial results on a calendar
fiscal year. Prior to the Company’s acquisition of Isle, Isle’s
fiscal year typically ended on the last Sunday in April. Isle’s
fiscal 2017 and 2016 were 52-week years, which commenced on April
25, 2016 and April 27, 2015, respectively. Such figures were
prepared by the Company to reflect Isle’s unaudited consolidated
historical net revenues and Adjusted EBITDA for periods
corresponding to ERI’s fiscal quarterly calendar. Such figures are
based on the unaudited internal financial statements and have not
been reviewed by the Company’s auditors and do not conform to GAAP.
(2) Total figures for 2016 and 2017 include combined results of
operations for Isle and ERI for periods preceding the date that ERI
acquired Isle. Such presentation does not conform with GAAP or the
Securities and Exchange Commission rules for pro forma presentation;
however, we believe that the additional financial information will
be helpful to investors in comparing current results with results of
prior periods. This is non-GAAP data and should not be considered a
substitute for data prepared in accordance with GAAP, but should be
viewed in addition to the results of operations reported by the
Company.
(3) Figures are for Isle the three and six months ended June 30, 2016.
Such figures were prepared by the Company to reflect Isles’
unaudited consolidated historical net revenues, operating income and
Adjusted EBITDA for periods corresponding to ERI’s fiscal quarterly
calendar. Such figures are based on the unaudited internal financial
statements and have not been reviewed by the Company’s auditors and
do not conform to GAAP.
(4) Corporate for six months ended June 30, 2016 excludes severance
expense of $1.5 million.
(5) Adjusted EBITDA is not a GAAP measurement and is presented solely as
a supplemental disclosure because the Company believes it is a
widely used measure of operating performance in the gaming industry.
See “Reconciliation of GAAP Measures to Non-GAAP Measures” below for
a definition of Adjusted EBITDA and a quantitative reconciliation of
Adjusted EBITDA to operating income (loss), which the Company
believes is the most comparable financial measure calculated in
accordance with GAAP.

“Eldorado’s operating momentum and financial growth continued in the
second quarter as, on a combined basis after giving effect to the
acquisition of Isle of Capri, Adjusted EBITDA rose 7.8% year over year,”
said Gary Carano, Chairman and Chief Executive Officer of Eldorado. “Our
second quarter growth was broad-based as Adjusted EBITDA improved at 13
of our 19 properties and we delivered year over year property margin
increases at our West, Midwest and East regions and flat margin results
for our South region. As a result, Eldorado’s combined consolidated
Adjusted EBITDA margin improved 230 basis points in the quarter to 23.4%.

“Our expanded scale following the May 1 completion of the Isle of Capri
transaction significantly diversified our Adjusted EBITDA composition,
as no single market accounted for more than approximately 15% of total
property Adjusted EBITDA in the second quarter. Overall, our second
quarter results continue to highlight the efficacy of our strategy to
build shareholder value by leveraging our proven operating model into a
more diversified regional gaming entity.

“Our integration of the Isle of Capri properties is off to a very strong
start. We have already achieved nearly $30 million of the anticipated
$35 million in annual synergies and with the implementation of a four
region reporting structure we are bringing best-practice operating
strategies from across the organization down to the property-level
quickly and efficiently. We have started to implement such best
practices from our legacy and newly acquired operations as we target
further margin enhancement and elevated guest service and satisfaction
across the entire property portfolio. Looking ahead, we believe that
there are significant opportunities for continued margin enhancement as
we extract a range of efficiencies from our marketing, advertising,
player promotion, and food and beverage operations.

“We are also evaluating opportunities across our portfolio for
return-focused investments that are intended to unlock underlying value
in properties and drive future profitable growth. Eldorado has a solid
record of success in undertaking property-specific enhancements that
elevate the guest experience and its market competitiveness while also
generating a return on our investment. Thus far in 2017, we have
completed the renovation of 153 rooms and the Showroom at Eldorado Reno,
the new Canter’s Delicatessen and poker room opening at Silver Legacy,
and upgrades at Circus Circus which include the renovation of 648 rooms,
a redesigned 6,700 square foot video arcade, and new food and beverage
operations including Madame Butterworks Curious Café, Kanpai Sushi, El
Jefe’s Cantina and the new food court featuring three distinct culinary
options, with Habit Burger, Piezzetta Pizza Kitchen and Panda Express.
This comprehensive facility enhancement program is helping Eldorado
deliver a more integrated experience across the Reno Tri-Properties’
operations for our guests while also providing a variety of amenities
that makes each property feel distinctive and unique.

“We are very optimistic as we look forward to the second half of the
year, and believe our successful integration of the Isle of Capri
properties to date, the benefit of our expanded scale, and the ongoing
implementation of operating strategies have positioned the Company to
deliver additional value for our shareholders.”

Balance Sheet and Liquidity

At June 30, 2017, Eldorado had $103.6 million in cash and cash
equivalents and $22.6 million in restricted cash. Outstanding
indebtedness at June 30, 2017 totaled $2.3 billion, including $90
million outstanding on the Company’s revolving credit facility. Our
purchase price accounting is preliminary as of June 30, 2017. Capital
expenditures in the second quarter and first six months of 2017 totaled
$23.6 million and $29.8 million, respectively. The Company expects 2017
full-year capital expenditures of $80.0 million, with approximately
$26.8 million allocated to project cap-ex and the remaining $53.2
million for maintenance cap-ex.

“Our expanded scale is delivering the expected benefit in free cash flow
as we paid down $39.5 million of debt in the second quarter,” said Tom
Reeg, President and Chief Financial Officer. “Our priority continues to
be to deploy free cash flow to reduce leverage which should position us
to pursue future growth opportunities.”

Eldorado expects the $134.5 million sale of Isle of Capri Hotel Lake
Charles to close later in 2017, subject to regulatory approval, and the
Company intends to allocate all of the net proceeds from the sale to
debt reduction. The operations of Lake Charles has been classified as
discontinued operations and as assets held for sale for all periods
presented.

Summary of 2017 Second Quarter Region Results

Reflecting the completion on May 1 of the Company’s acquisition of Isle
of Capri, Eldorado has changed its quarterly property results reporting
to report results in four regions. The new reporting format is also
consistent with changes the Company has made in its management reporting
structure.

West Region (Reno Tri-Properties, Isle Casino Hotel Black Hawk
and Lady Luck Casino Black Hawk)

Net revenue for the West Region properties for the quarter ended June
30, 2017 declined approximately 5.6% to $109.4 million compared to
$115.9 million in the prior-year period, with operating income of $19.2
million compared to $19.8 million in the year-ago quarter. Adjusted
EBITDA was $26.7 million reflecting an Adjusted EBITDA margin of 24.5%
compared to Adjusted EBITDA of $27.2 million on an Adjusted EBITDA
margin of 23.5% in the prior-year period. Net revenue, operating income
and Adjusted EBITDA for the West region in the second quarter of 2017
were impacted by a challenging comparison to the prior year period which
included the benefit to the Reno Tri-Properties’ operations from the
men’s bowling tournament.

Midwest Region (Isle Casino Waterloo, Isle Casino Bettendorf,
Isle of Capri Casino Boonville, Isle Casino Cape Girardeau, Lady Luck
Casino Caruthersville and Isle of Capri Casino Kansas City)

Net revenue for the Midwest Region properties for the quarter ended June
30, 2017 increased approximately 1.5% to $103.8 million compared to
$102.2 million in the prior-year period, with operating income of $26.0
million compared to $20.4 million in the year-ago quarter. Adjusted
EBITDA rose approximately 9.7% to $33.2 million as the Adjusted EBITDA
margin for the segment rose 230 basis points to 31.9%. Adjusted EBITDA
increased year over year at five of the six Midwest Region properties.
Adjusted EBITDA for the Midwest Region in the prior-year period was
$30.2 million reflecting an Adjusted EBITDA margin of 29.6%.

South Region (Isle Casino Racing Pompano Park, Eldorado
Shreveport, Isle of Capri Casino Lula and Lady Luck Casino Vicksburg)

Net revenue for the South Region properties for the quarter ended June
30, 2017 declined approximately 4.7% to $90.9 million compared to $95.3
million in the prior-year period, with operating income of $15.0 million
compared to $15.7 million in the year-ago quarter. Adjusted EBITDA was
$21.2 million compared to Adjusted EBITDA of $21.8 million in the
prior-year period with Adjusted EBITDA margin for the region increasing
40 basis points to 23.3%. The South Region results were impacted by
severe flooding in 2017 over the course of approximately seven days at
Lady Luck Casino in Vicksburg, MS, which remained opened but experienced
a significant decline in visitation throughout the seven-day period.

East Region (Presque Isle Downs and Casino, Lady Luck Casino
Nemacolin, Eldorado Scioto Downs Racino and Mountaineer Casino,
Racetrack and Resort)

Net revenue for the East Region properties for the quarter ended June
30, 2017 declined approximately 1.5% to $122.6 million compared to
$124.4 million in the prior-year period, with operating income of $18.0
million compared to $13.7 million in the year-ago quarter. Despite the
modest revenue decline, Adjusted EBITDA for the East Region rose 11.2%
to $26.6 million compared to Adjusted EBITDA of $23.9 million in the
prior-year period as the East region’s Adjusted EBITDA margin improved
240 basis points to 21.7%. The East region’s three largest properties
delivered year-over-year Adjusted EBITDA growth, including the tenth
consecutive quarter of Adjusted EBITDA growth for Eldorado Scioto Downs
and the second consecutive quarter of double digit growth at Mountaineer
Casino, Racetrack & Resort which continues to benefit from the Company’s
initiatives to improve amenities and right-size operating expenses to
match current visitation and revenue volumes.

Reconciliation of GAAP Measures to Non-GAAP Measures

Adjusted EBITDA (defined below), a non GAAP financial measure, has been
presented as a supplemental disclosure because it is a widely used
measure of performance and basis for valuation of companies in our
industry and we believe that this non GAAP supplemental information will
be helpful in understanding the Company’s ongoing operating results.
Adjusted EBITDA represents operating income (loss) before depreciation
and amortization, stock based compensation, transaction expenses, S-1
expenses, severance expenses and other, which includes equity in income
(loss) of unconsolidated affiliates, (gain) loss on the sale or disposal
of property, and other regulatory gaming assessments, including the
impact of the change in regulatory reporting requirements, to the extent
that such items existed in the periods presented. Adjusted EBITDA is not
a measure of performance or liquidity calculated in accordance with
U.S. GAAP, is unaudited and should not be considered an alternative to,
or more meaningful than, net income (loss) as an indicator of our
operating performance. Uses of cash flows that are not reflected in
Adjusted EBITDA include capital expenditures, interest payments, income
taxes, debt principal repayments and certain regulatory gaming
assessments, which can be significant. As a result, Adjusted EBITDA
should not be considered as a measure of our liquidity. Other companies
that provide EBITDA information may calculate EBITDA differently than we
do. The definition of Adjusted EBITDA may not be the same as the
definitions used in any of our debt agreements.

Second Quarter Conference Call

Eldorado will host a conference call at 4:30 p.m. ET today. Senior
management will discuss the financial results and host a question and
answer session. The dial in number for the audio conference call is
719/457-2701, conference ID 9062486 (domestic and international
callers). Participants can also access a live webcast of the call
through the “Events & Presentations” section of Eldorado’s website at http://www.eldoradoresorts.com/
and a replay of the webcast will be archived on the site for 90 days
following the live event.

About Eldorado Resorts, Inc.

Eldorado Resorts is a leading casino entertainment company that owns and
operates nineteen properties in ten states, including Colorado, Florida,
Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, Pennsylvania and
West Virginia. In aggregate, Eldorado’s properties feature approximately
20,000 slot machines and VLTs, more than 550 table games and over 6,500
hotel rooms. For more information, please visit www.eldoradoresorts.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements include statements regarding our
strategies, objectives and plans for future development or acquisitions
of properties or operations, as well as expectations, future operating
results and other information that is not historical information.
When
used in this press release, the terms or phrases such as “anticipates,”
“believes,” “projects,” “plans,” “intends,” “expects,” “might,” “may,”
“estimates,” “could,” “should,” “would,” “will likely continue,” and
variations of such words or similar expressions are intended to identify
forward-looking statements.
Although our expectations, beliefs
and projections are expressed in good faith and with what we believe is
a reasonable basis, there can be no assurance that these expectations,
beliefs and projections will be realized.
There are a number of
risks and uncertainties that could cause our actual results to differ
materially from those expressed in the forward-looking statements which
are included elsewhere in this press release.
Such risks,
uncertainties and other important factors include, but are not limited
to:
Eldorado’s ability to promptly and effectively integrate the
business of Eldorado and Isle and realize synergies resulting from the
combined operations; our substantial indebtedness and the impact of such
obligations on our operations and liquidity; competition; sensitivity of
our operations to reductions in discretionary consumer spending and
changes in general economic and market conditions; governmental
regulations and increases in gaming taxes and fees in jurisdictions in
which we operate; and other risks and uncertainties described in our
reports on Form 10-K, Form 10-Q and Form 8-K.

In light of these and other risks, uncertainties and assumptions, the
forward-looking events discussed in this press release might not occur.

These forward-looking statements speak only as of the date of this
press release, even if subsequently made available on our website or
otherwise, and we do not intend to update publicly any forward-looking
statement to reflect events or circumstances that occur after the date
on which the statement is made, except as may be required by law.

   
ELDORADO RESORTS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
($ in thousands, except per share data)
 
Three Months Ended Six Months Ended
June 30, June 30,
2017   2016 2017   2016
REVENUES:        
Casino $ 298,182 $ 178,459 $ 460,966 $ 347,537
Pari-mutuel commissions 4,143 2,893 4,784 3,577
Food and beverage 46,438 36,967 75,951 70,706
Hotel 28,924 25,677 46,937 45,842
Other     11,550     11,014     20,145     21,899
389,237 255,010 608,783 489,561
Less-promotional allowances     (34,057 )     (23,695 )     (52,678 )     (44,680 )
Net operating revenues     355,180     231,315     556,105     444,881
EXPENSES:
Casino 152,417 100,374 242,870 196,636
Pari-mutuel commissions 4,874 2,931 6,081 4,255
Food and beverage 22,834 20,783 40,255 40,511
Hotel 8,026 7,979 14,629 15,108
Other 5,644 6,618 10,923 12,692
Marketing and promotions 20,158 9,766 30,214 19,341
General and administrative 55,379 32,380 87,154 64,035
Corporate 7,442 4,354 14,016 11,258
Depreciation and amortization     24,909     15,583     40,513     31,787
Total operating expenses 301,683 200,768 486,655 395,623
LOSS ON SALE OF ASSET OR DISPOSAL OF PROPERTY (89 ) (836 ) (57 ) (765 )
ACQUISITION CHARGES (85,464 ) (56 ) (87,078 ) (576 )
EQUITY IN LOSS OF UNCONSOLIDATED AFFILIATE     (60 )         (282 )    
OPERATING (LOSS) INCOME     (32,116 )     29,655     (17,967 )     47,917
OTHER EXPENSE:
Interest expense, net (27,527 ) (12,795 ) (40,197 ) (25,786 )
Loss on early retirement of debt, net     (27,317 )     (89 )     (27,317 )     (155 )
Total other expense     (54,844 )     (12,884 )     (67,514 )     (25,941 )
NET (LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (86,960 ) 16,771 (85,481 ) 21,976
BENEFIT (PROVISION) FOR INCOME TAXES     39,677     (5,980 )     39,219     (7,816 )
NET (LOSS) INCOME FROM CONTINUING OPERATIONS (47,283 ) 10,791 (46,262 ) 14,160
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAXES     955         955    
NET (LOSS) INCOME $   (46,328 ) $   10,791 $   (45,307 ) $   14,160
 
(Loss) income per common share attributable to common stockholders –
basic:
Net (loss) income from continuing operations $ (0.70 ) $ 0.23 $ (0.81 ) $ 0.30
Income from discontinued operations net of income taxes     0.01         0.02    
Net (loss) income attributable to common stockholders $   (0.69 ) $   0.23 $   (0.79 ) $   0.30
 
(Loss) income per common share attributable to common stockholders –
diluted:
Net (loss) income from continuing operations $

(0.70

) $ 0.23 $

(0.81

) $ 0.30
Income from discontinued operations, net of income taxes     0.01        

0.02

   
Net (loss) income attributable to common stockholders $  

(0.69

) $   0.23 $  

(0.79

) $   0.30
 
Weighted Average Basic Shares Outstanding     67,453,095     47,071,608     57,405,834     46,966,391
Weighted Average Diluted Shares Outstanding     68,469,191     47,721,075     58,339,438     47,591,958
 

The accompanying condensed notes are an integral part of these
consolidated financial statements.

 
ELDORADO RESORTS, INC.
SUMMARY INFORMATION AND RECONCILIATION OF
OPERATING INCOME (LOSS) TO ADJUSTED EBITDA
($ in thousands)
 
Three Months Ended June 30, 2017
Operating

Income

(Loss)

  Depreciation

and

Amortization

    Stock-Based

Compensation

    Transaction

Expenses

    Severance

Expense

    Other (6)   Adjusted

EBITDA

Excluding Pre-Acquisition:              
West $ 16,468 $ 6,576 $ 52 $ $ 36 $ (27 ) $ 23,105
Midwest 15,408 4,966 86 1 7 20,468
South 11,069 4,662 40 3 15,774
East 18,153 8,273 4 22 89 26,541
Corporate     (93,214 )     432     1,123     85,464     300     (22 )     (5,917 )
Total Excluding Pre-Acquisition $   (32,116 ) $   24,909 $   1,305 $   85,464 $   362 $   47 $   79,971
 
Pre-Acquisition (1):
West $ 2,709 $ 925 $ 2 $ $ $ 4 $ 3,640
Midwest 10,637 2,001 14 5 29 12,686
South 3,943 1,442 7 33 5,425
East (197 ) 239 42
Corporate     (2,550 )     96     461     286         (22 )     (1,729 )
Total Pre-Acquisition $   14,542 $   4,703 $   484 $   286 $   5 $   44 $   20,064
 
Including Pre-Acquisition:
West $ 19,177 $ 7,501 $ 54 $ $ 36 $ (23 ) $ 26,745
Midwest 26,045 6,967 100 6 36 33,154
South 15,012 6,104 47 3 33 21,199
East 17,956 8,512 4 22 89 26,583
Corporate     (95,764 )     528     1,584     85,750     300     (44 )     (7,646 )
Total Including Pre-Acquisition (2) $   (17,574 ) $   29,612 $   1,789 $   85,750 $   367 $   91 $   100,035
 

Contacts

Eldorado Resorts, Inc.
Thomas Reeg, 775-328-0112
President and
Chief Financial Officer
[email protected]
or
JCIR
Joseph
N. Jaffoni, Richard Land, 212-835-8500
[email protected]

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