 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
Eldorado Resorts, Inc. (ERI) is a casino operator.
The firm owns and operates gaming facilities in Ohio, Louisiana, Nevada, Pennsylvania, and West Virginia.
It owns and operates Eldorado Resort Casino Reno, a 814-room hotel, casino and entertainment facility located in downtown Reno, Nevada; Silver Legacy Resort Casino, a 1,711-room themed hotel and casino located adjacent to Eldorado Reno and Circus Reno; and Circus Circus Reno, a 1,571-room hotel-casino and entertainment complex connected via a skywalk to Eldorado Reno and Silver Legacy.
The company also owns and operates Eldorado Resort Casino Shreveport, a 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino situated on the Red River in Shreveport, Louisiana; Mountaineer Casino, Racetrack & Resort, a 354-room resort with a casino and live thoroughbred horse racing located on the Ohio River at the northern tip of West Virginias northwestern panhandle; Presque Isle Downs & Casino, a casino and live thoroughbred horse racing facility with slot machines, table games, and poker located in Erie, Pennsylvania; and Eldorado Gaming Scioto Downs, a modern racino offering approximately 2,140 video lottery terminals (VLT) located in Columbus, Ohio. As of December 31, 2015, it owned and operated approximately 486,600 square feet of casino space with 10,300 slot machines and VLTs, 300 table and poker games, 45 restaurants, and 4,900 hotel rooms.
Shares have formed a bullish "flag" as it's merger with Isle of Capri (ISLE) gets approval from several States. In September, ERI announced its plan to purchase its competitor ISLE for $950 million in cash and stock in a deal that more than doubles the number of gaming locations Eldorado operates. The deal is expected to close in the second quarter of 2017. The combined company will have 20 properties in 10 states with annual revenue of $1.8 billion. Higher share prices are expected for this stock.
52-Weeks Trading Range: $8.94 - $16.85
Entry Point: $16.55
Stop Loss: $15.75
Target Price: $18.20
ERI closed at $15.18
