Eldorado Resorts Inks $155M Deal for Lake Tahoe and Shreveport Casinos

Eldorado Resorts Inc. has finalized a $155 million cash deal for two of the company’s premier properties in Nevada and Louisiana, bolstering its balance sheet ahead of their massive acquisition of Caesars Entertainment Corp.
Eldorado Resort Casino Shreveport

Twin River Worldwide Holdings Inc. has agreed to purchase the Eldorado Resort Casino Shreveport and MontBleu Lake Tahoe. But the final transfer of ownership is dependent on Eldorado’s merger with Caesars receiving approval from the respective gaming and trade commissions.

Initially, Las Vegas-based company Maverick Gaming LLC had agreed to purchase the two properties from Eldorado, with the Shreveport property alone valued at $230 million. But the deal ultimately fell through. Maverick owner Eric Persson explained the company’s decision to forgo the purchase via a press release on April 24th.

“At this time, it is more important for Maverick to nurture and protect their existing assets than it is to expand our asset base. They are great assets, and in a normal environment, we would be very excited to own them.”

Neither of the casinos involved in Eldorado’s new deal with Twin River are currently open. They’re both absolutely massive real estate properties. Below, you’ll find a summary of each and their respective amenities.

Eldorado Resort Casino Shreveport

  • Location
    • Shreveport, Louisiana
  • Amenities
    • 400+ hotel rooms
    • Spa
    • Gift shop
    • Two night clubs
    • Five restaurants
  • Casino and Gaming
    • 30,000 sq. ft. riverboat casino
    • Over 50 table games
    • Nearly 1,400 slot machines
    • Poker room

MontBleu Lake Tahoe

  • Location
    • Lake Tahoe, Nevada (One Block from the California State Line)
  • Amenities
    • 438 hotel rooms
    • Salon and spa
    • Fitness center
    • Wedding chapel
    • Arcade
    • Gift shop
    • 1,200-seat showroom
    • Convention center
    • Nightclub
    • Three restaurants
  • Casino and Gaming
    • 45,000 sq. ft casino
    • 30 table games
    • 600 slot machines
    • William Hill sportsbook

While Eldorado’s deal with Twin River is substantially less than their previous agreement with Maverick Gaming, it’s clear that the merger with Caesars is their primary focus. The additional $155 million in cash Eldorado is expected to receive from the sale of these properties provides the company with more liquidity if or when the merger is approved. In the meantime, it seems Twin River is in full Monopoly mode and happily purchasing property from either of the two companies, as they recently purchased Bally’s in Atlantic City from Caesars.