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Bally’s Corporation Completes Acquisition Of Eldorado Shreveport
December 23, 2020 GMT
(PRNewsfoto/Twin River Worldwide Holdings, Inc.)
PROVIDENCE, R.I., Dec. 23, 2020 /PRNewswire/ -- Bally’s Corporation (NYSE: BALY) (the “Company”) today announced that it has completed the previously announced acquisition of Eldorado Resort Casino Shreveport from Caesars Entertainment, Inc. (NASDAQ: CZR). The total purchase price of the acquisition was $140 million, subject to customary adjustments, and was funded with cash on hand and available borrowings under the Company’s revolving credit facility.
“Eldorado Shreveport represents the latest step in our ongoing portfolio diversification strategy, expanding our rapidly growing geographic footprint into the attractive Shreveport/Bossier City market,” said George Papanier, President and Chief Executive Officer of Bally’s Corporation. “Eldorado Shreveport is a first-class, premier entertainment asset that is emblematic of the iconic Bally’s brand. With the close of this transaction, we are looking forward to integrating Eldorado Shreveport into the Bally’s family, and implementing our proven strategic initiatives to drive growth and revenue improvements.”