eldorado resorts
eldorado resorts and mtr gaming group, inc. , successfully complete their merger to become eldorado resorts, inc. , in the fall of 2014. eldorado resorts, inc. includes six properties in five states .
isle of capri casinos', eldorado resorts' shareholders approve deal - st. louis business journal
eldorado resorts, inc. today reported operating results for the first quarter ended march 31, 2018 .
the national play should make eldorado resorts more capable of dealing with regional slumps, according to adams .
eldorado resorts purchases silver legacy resort casino and circus circus reno today for $ 72. 5 million .
it' s official: eldorado resorts buys circus circus and silver legacy eldorado resorts purchases silver legacy resort casino and circus circus reno today for $ 72. 5 million. check out this story on urltoken urltoken
gary carano, chairman and ceo of eldorado resorts, inc. , posing near the mining rig that splits eldorado, silver legacy and circus circus .
eldorado resorts, inc. announced today that its senior management will be participating in two upcoming institutional investor conferenc
acquisition of regional hotel - gaming company expands eldorado resorts’ gaming scope to 19 total properties in 10 states .
eldorado resorts, a publicly traded company, announced the purchase of mgm resorts international’s 50 percent interest in silver legacy resort casino and circus circus reno today for $ 72. 5 million cash. eldorado resorts and the caranos now own the three largest hotel - casinos in downtown reno .
eldorado resorts on monday announced monday that it expects to invest more than $ 50 million in facility enhancements to eldorado reno, silver legacy and circus circus reno .
eldorado resorts reported 2015 profit of $ 114. 2 million on total net revenue of $ 901. 5 million .
in addition to the purchase of the properties, eldorado resorts paid $ 58 million of silver legacy' s debt. the carano family remains the majority stockholders for eldorado resorts, which now includes seven properties across the united states. eldorado resorts (nasdaq: eri) sells shares of its common stock to help pay for the silver legacy and circus circus reno acquisitions .
eldorado resorts (nasdaq: eri) expanded its nationwide footprint monday with the acquisition of a new hotel - casino property .
mtr gaming group inc. , the parent company of presque isle downs & casino, is now known as eldorado resorts inc .
silver legacy and circus circus reno acquisitions in fall of 2015. eldorado resorts, inc. now includes seven properties in five states .
shareholders of eldorado resorts (nasdaq: eri) and isle of capri casinos (nasdaq: isle) have voted to approve eldorado' s acquisition of creve coeur - based isle of capri .
eldorado resorts on monday announced monday that it expects to invest more than $ 50 million in facility enhancements to eldorado reno, silver legacy and circus circus reno, company officials said in a statement .
today, don leaves behind a thriving eldorado resorts family legacy, with 19 properties in 10 states and over 14, 000 team members .
the statement also affirms eldorado’s commitment to its home turf. while the company has been expanding its nationwide footprint, eldorado resorts also grew its portfolio locally by increasing its stake in the silver legacy and buying it outright from mgm resorts international alongside the circus circus reno in 2015 .
4 five star gourmet inclusive ® luxury spa resorts in mexico’s breathtaking riviera maya .
with eldorado resorts’ acquisition of isle of capris’ properties on monday, gary carano is exhibiting the same daring that his father showed more than four decades ago. he is betting on the eldorado once more .
“we are delighted to welcome the isle shareholders and team members to the eldorado family, ” said eldorado chairman and ceo gary carano. “we believe that eldorado resorts is positioned for near - and long - term success and the creation of value for our shareholders. ”
the isle of capri black hawk hotel - casino in colorado is one of 12 new properties that eldorado resorts acquired on may 1, 2017 .
in 1993, don, in partnership with mandalay resorts / mgm resorts, announced the opening of the silver legacy, the first mega - themed resort in reno .
reno - based eldorado now in 10 states with isles of capri acquisition acquisition of regional hotel - gaming company expands eldorado resorts’ gaming scope to 19 total properties in 10 states. check out this story on urltoken urltoken
eldorado resorts, inc. announced today that it will report its 2018 first quarter financial results after the market closes on thursday, may 3, 2018 .
el dorado spa resorts, by karisma. a collection of classically elegant, unmistakably mexican, adults - only resorts on some of the best beaches in riviera maya, mexico .
eldorado resorts reports first quarter net revenue of $ 440. 2 million, operating income of $ 54. 2 million and adjusted ebitda of $ 103. 5 million
we have a drive to continue to improve the arch district ,
said gary carano, chairman and ceo of eldorado resorts .
others will follow .
eldorado' s sister property in reno opens. it is the result of a new partnership between the eldorado resort casino and the mgm mirage .
the acquisition adds to a growing portfolio for eldorado resorts that includes properties in nevada, louisiana, ohio, pennsylvania and west virginia. in addition to its reno tri - properties, which include the eldorado, silver legacy and circus circus, the company also owns eldorado shreveport, scioto downs, mountaineer and presque isle downs .
the cordish companies and eldorado resorts, inc. (nasdaq: eri) announce new joint venture to develop world - class, mixed - use hospitality destination in pompano, fl
el dorado spa resorts, by karisma, are a collection of aaa four diamond, classically elegant, unmistakably mexican, adults - only resorts on some of the best beaches in riviera maya, mexico .
holders of over 99 percent of the eldorado shares that voted approved the company' s issuance of shares of eldorado common stock in connection with the acquisition; that represents about 85 percent of eldorado' s outstanding common stock, officials said .
eldorado resorts, inc. announced today that its senior management will be participating in the jefferies 2018 consumer conference on wednesday, june 20 at the white elephant hotel in nantucket, ma .
on a day when gary carano’s company more than doubled its number of hotel - casino properties across the united states, the top executive of eldorado resorts could not help but think of home .
the merger should lead to a cost savings of $ 35 million in the next year, according to eldorado. with the addition of isle of capri, eldorado resorts properties combined have about 20, 000 slot machines and video lottery terminals, more than 550 tables games and more than 6, 500 hotel rooms .
reno, nev. (oct. 4, 2017) – donald louis carano, founder of eldorado resorts inc. , passed away peacefully on october 3, 2017 surrounded by his family. he was 85 years young .
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churchill downs has terminated its agreement to buy lady luck casino in vicksburg, miss. , and amended its previously announced deal to buy presque isle downs & casino in erie, pa. , from eldorado resorts... .
we' re currently recruiting passionate people from all across the country to join our team. to become a part of eldorado resorts, inc. , view the hottest job openings ﻿﻿. use this link for career opportunities at our eldorado, silver legacy, circus circus reno, mountaineer casino or presque isle downs & casino properties .
mgm resorts is likely to receive $ 162 million from the sale as it only holds 50% stake in the grand victoria casino .
the eldorado, circus circus and silver legacy make up the reno tri - properties in downtown reno .
former members of eldorado holdco llc will own about 50. 2 percent of eldorado common stock, and the former stockholders of mtr will own about 49. 8 percent of the stock, the company announced .
the announced sale of isle of capris casino hotel lake charles in louisiana, which is expected to be completed later this year for $ 134. 5 million, should generate free cash flow for eldorado resorts as well. the upcoming sale is the reason why the property is not included in the 12 facilities listed by eldorado as part of its acquisition .
eldorado resorts also committed to $ 50 million in improvements to the silver legacy, circus circus and eldorado hotel - casinos, which comprise its reno tri - properties. although the company is no stranger to cutting costs — it implemented cost reductions in the first quarter of this year at its mountaineer property in west virginia — carano says success ultimately requires investment .
the cordish companies and eldorado resorts, inc. announced today their formalization of a new 50 - 50 joint venture partnership that will master plan, design and develop a new world - class, mixed - use entertainment and hospitality destination in pompano, fl .
before may 1, eldorado resorts’ portfolio comprised seven properties in five states. the addition of isle of capris’ facilities bumps up the number to 19 properties in 10 states, raising the worth of eldorado' s regional gaming enterprise to $ 1. 7 billion. bringing all of those properties into the fold literally came with a cost. conditions for the merger included exchanging isle of capris common stock for $ 552 million in cash on top of 28. 5 million newly issued eldorado common stock shares .
carano said eldorado resorts and the carano family are
doubling down
on the future of the city. he cited the tesla gigafactory and the economic development authority of western nevada' s declaration that by 2020 reno would experience exponential job and housing growth as reasons for investing .
eldorado saw benefits from its diversification as recently as last december. higher earnings in eldorado’s reno tri - properties, for example, helped offset less - than - ideal results at its eastern properties due to weather disruption in the fourth quarter .
the isle of capris deal continues a regional strategy that eldorado adopted following several years of declines in the reno gaming market .
the transaction comprised of 58 percent cash totaling $ 552 million with the remaining 42 percent coming in the form of 28. 5 million newly issued shares of eldorado stock. eldorado has about 75. 6 million in outstanding common shares after the acquisition .
the reno - based company closed on its acquisition of isle of capri casinos, adding 12 more properties to its portfolio and creating a larger regional gaming business worth $ 1. 7 billion. eldorado acquired isle of capri for $ 23. 00 in cash per share or 1. 638 shares of eldorado common stock. eldorado first announced its plans to acquire the company last year .
matt maddox came out swinging in his first earnings conference call as wynn resorts chief executive officer, boasting of record las vegas quarterly revenues and applicants lining up for work .
“it moves the eldorado from don carano’s little venture on virginia street to gary carano’s empire, ” adams said. “it’s huge growth. ”
growing up: eldorado doubles down on national expansion, ‘new reno’ years after indian gaming and a historic recession slammed northern nevada’s hotel - casino sector, eldorado ceo gary carano talks about the industry’s evolution and its place in the “new reno. ” check out this story on urltoken urltoken
foremost, we are thrilled to welcome the mtr team into the eldorado family. with a diversified platform of gaming assets across the united states and a strengthened balance sheet, we believe eldorado is well positioned to take advantage of future growth opportunities in our industry ,
he said .
the eldorado is the first casino in the united states to operate its own microbrewery. named best brewpub in america by nightclub & bar magazine .
isle agreed in september to be acquired by reno, nevada - based eldorado in a deal worth about $ 1. 7 billion, including long - term debt, with isle stockholders given the choice to receive $ 23 in cash for each share or 1. 638 shares of eldorado stock. elections are subject to proration such that isle common stock will be exchanged for an aggregate of 58 percent cash and 42 percent eldorado common stock .
eldorado resorts, inc. (eri) (“eldorado” or the “company”) and churchill downs incorporated (chdn) (“churchill” or “churchill downs”) announced today that they have terminated their previously announced agreement whereby churchill was to acquire substantially all of the assets and properties associated with lady luck casino in vicksburg, mississippi (“lady luck vicksburg”) and amended their previously announced agreement whereby churchill is to acquire substantially all of the assets and properties associated with presque isle downs & casino in erie, pennsylvania from eldorado (collectively, the “termination and amendment agreements”). pursuant to the termination and amendment agreements, churchill will pay eldorado a $ 5. 0 million termination fee, subject to the parties’ execution of a definitive agreement with respect to the lady luck nemacolin transaction as described below .
it' s our belief that we' re only as extraordinary as our people. when you visit an eldorado property, we' ll do our best to put a smile on your face, to go that extra mile, to make a difference and give you the personal service you deserve. you' re not just a customer at eldorado resorts, you' re part of our family, and we feel lucky to have you. we want to make your guest experience the best it can be .
pompano, fla. , april 27, 2018 / prnewswire / - - the cordish companies and eldorado resorts, inc. announced today their formalization of a new 50 - 50 joint venture partnership that will master plan, design and develop a new world - class, mixed - use entertainment and hospitality destination in pompano, fl. the development will complement and encompass the site of the existing isle casino racing pompano park and bring new upscale retail, dining, and entertainment to south florida. the 223 - acre development will include a corporate office campus, residential, and a hotel .
we are proud to partner with eldorado resorts on this exciting new development ,
stated david cordish, chairman of the cordish companies .
carano also expects the acquisition to generate $ 35 million in cost savings over the next year through operation synergies resulting from the merger, which includes a reduction in executive positions. although most of isle of capris’ senior executive team — including former ceo eric hausler — will not be joining eldorado resorts, carano says they were instrumental in the success of the acquisition .
with the combined portfolio of eldorado and mtr, we are better prepared to face an increasingly competitive regional gaming landscape ,
billhimer said in a statement .
the combination creates a premiere, diversified regional gaming platform and significantly expands the portfolio to include 20 properties in 10 states featuring approximately 20, 000 slot machines and vlts, more than 550 table games, and over 6, 500 hotel rooms. the eldorado resorts family is now 14, 000 team members strong providing genuine family style service to our valued guests throughout the nation !
a nod to the carano' s heritage, la strada quickly becomes the eldorado' s signature restaurant, offering authentic northern italian cuisine and pasta made fresh daily .
eldorado expects $ 35 million in cost synergies in the first year following the merger. gary carano, eldorado' s chairman and ceo, said in a statement wednesday that progress toward completing the transaction has included meetings with gaming regulators and the development of
detailed plans to optimize the operations of the combined company' s properties .
eldorado’s master plan for the three connected properties, which span eight city blocks in downtown reno, will be phased over three years, starting in the fourth quarter of this year. in addition to the renovation of more than 4, 100 guest rooms, each of the three resorts will introduce new restaurant concepts, reinvigorated nightlife and resort amenities, including a new full service luxury spa .
elaine wynn, the largest shareholder of wynn resorts ltd. , is seeking to kick a friend of her ex - husband steve wynn off the company’s board of directors. (todd prince / las vegas review - journal )
in 2013, the company announced plans to merge with mtr gaming group of western virginia. the merger led to the creation of eldorado resorts, inc. , which grew the company’s portfolio to six properties spread out across five states. total amenities rose to 3, 300 hotel rooms, 280 gaming tables, 10, 000 slot machines and video games, and 32 restaurants after the transaction .
under the merger, joseph l. billhimer, who had been the president and chief operating officer of mtr, becomes executive vice president and chief operating officer of eldorado .
we are pleased to have completed the merger with mtr and are excited to embark on a new chapter in eldorado' s history ,
carano said in a statement .
watch the sun rise and set over a stunning turquoise horizon. taste flavors you never knew existed. feel the inviting warm embrace of every breeze. el dorado spa resorts, by karisma are designed not just to delight the senses, but to surprise them with unwavering moments in luxury. set along the riviera maya coastline, these adults - only resorts were designed with the passion and ingenuity of authentic mexican hospitality. every single detail of each resort exudes sheer sophistication .
don carano was advised not to do it - from business associates and friends, each warned him against opening a brand - new hotel casino north of the train tracks intersecting downtown reno. he was undeterred, the eldorado hotel casino opened in 1973. the rest is history. today the eldorado has earned its highly - regarded reputation by emphasizing good old fashioned family values. don believed that good things came from working together as a team, a family spirit that is reflected in everything the eldorado brand represents - integrity, service and quality .
eldorado is the first casino in the u. s. with its own roaster and gourmet coffee bar. coffee from around the country and the world is roasted fresh for guests .
years after indian gaming and a historic recession slammed northern nevada’s hotel - casino sector, eldorado ceo gary carano talks about the industry’s evolution and its place in the “new reno. ”
“i lived right down that street right there, about 10 blocks, ” the eldorado chairman and ceo said. “i used to fish at the river when i was a kid. ”
it was a changing of the guard as well as a symbolic milestone. just as carano had grown from the boy who fished in the truckee, the eldorado was growing up as well .
at eldorado resorts, our t. e. a. m. - together everyone achieves more, makes the difference. born out of a value for people and a love of gaming' s classic roots, we' re a company brought together by a focus on detail like no other. from our games to our restaurants and our hotels to our racetracks, each location brings something unique and exciting to the table for a superior guest experience .
following the merger with mtr, eldorado went public in 2014 and started trading on the nasdaq market under the eri ticker symbol. the move marked a big crossroads for the reno - based company .
a pioneer in the gaming, law and wine industries, mr. carano was also an entrepreneur, hotelier, restaurateur, husband, father and grandfather. don is celebrated as a family - oriented, passionate leader in his many businesses, including: eldorado resorts, ferrari - carano vineyards and winery, and the mcdonald carano law firm. he was also known throughout his life as a longtime supporter of philanthropic endeavors in both reno and his wine country home in geyserville, alexander valley, ca .
the reno properties’ upgrade announcement comes on the heels of the company’s recent agreement to acquire isle of capri casinos, which, upon closing, will diversify eldorado’s operations geographically and financially, company officials said in the statement .
mention the carano family in reno and the eldorado is not the only thing that comes to people’s minds. also tied to the family is its popular porcini mushroom ravioli, which is served in three of its restaurants .
thousands of las vegas union members voting tuesday morning to authorize the right to strike. a “yes” vote would give the union negotiating committee the power to call a strike anytime after june 1 at the resorts that fail to reach an agreement. (todd prince / las vegas review - journal )
eldorado resorts is about family and people. yes, we’re in the gaming business, but what makes us special and what sets us apart is the belief that we’re only as extraordinary as our people. who you are and what you do matter to us. we take pride in training our employees to do their jobs well and enjoy themselves while working. we' re always looking for an ace in the hole, who’s easy - going, fun - loving, and responsible to join our team at a variety of locations .
based on a closely guarded recipe, the eldorado staple joins items such as the awful awful burger as reno food icons. ever the pitchman, carano does not hesitate to talk up the ravioli when touting the company’s properties in the biggest little city .
the intimate and indulgent el dorado spa resorts offer the idyllic setting for couples to relax and renew in romantic bliss. from the long stretch of private beach and plush oceanside cabanas, to the award - winning dining venues and world - class spa, every stunning facet of these resorts is designed to bring you closer together in paradise. infuse some mayan magic into your romantic getaway as you explore ancient ruins together. rekindle your love with a couples massage in a seaside palapa or with an invigorating open - air aguas del amor ™ shower. and take in all the untouched natural beauty that surrounds you as you experience the ultimate in adults - only, beachfront luxury .
hollywood casino becomes eldorado. part riverboat casino, the new property had 403 guest rooms and suites and four award - winning restaurants. it also features 30, 000 square feet of gaming, with 1, 500 machines, a poker room and more .
“today’s vote is an important step towards providing isle of capri shareholders with substantial and immediate value, as well as the opportunity to participate in the upside potential of the combined company through the transaction with eldorado ,
isle ceo eric hausler said in a statement .
for the company, the latest acquisition of isle of capris was akin to a sudden growth spurt that further expanded eldorado’s reach. the company now has 6, 500 rooms, about 20, 000 slot machines and video lottery terminals, and 550 table games .
eldorado now has 3, 300 hotel rooms, 32 restaurants, 280 table games and about 10, 000 slot machines and video lottery terminals. those numbers include 1, 720 slot machines and 46 tables games at presque isle downs, which also employs about 900 people .
the sharp drop in gaming revenue resulted in a bloodletting in reno’s gambling industry as several hotel - casinos were either shuttered or repurposed for housing. in response to changing conditions, eldorado started to venture outside nevada for opportunities while also looking at ways to shore up its reno portfolio .
kicking off with the first ever great italian festival in 1980, the eldorado is known for hosting some of reno' s most exciting events including the popular brews, blues and bbq festival in june as well as city - wide special events such as the hot air balloon races, hot august nights, street vibrations and many others .
by 1995, the eldorado had grown to over 800 guest rooms, eight restaurants, an 80, 000 square - foot gaming floor, a poker room and a race and sports book. convention space, a 560 - seat showroom, a 10 - story parking garage and several new restaurants and bars are added to the mix as well .
carano said his father, don carano, created a culture of constant reinvestment to keep the eldorado and silver legacy fresh and cutting edge. circus circus did not see the same type of capital investment over the years, so they want to immediately assess the need for improved safety, security, rooms, guest experience and amenities, carano said .
but the company had undergone a culture change in the last five years, and the isle of capris was now different from what he remembered. carano says he was impressed by the pompano beach, fla. , location’s casino floor, for example, and says the property' s bragozzo italian restaurant measures up nicely to eldorado’s la strada and roxy restaurants in reno .
days after new sexual misconduct allegations were made against celebrity chef mario batali, his company announced friday that it will close its three las vegas restaurants july 27. employees of carnevino italian steakhouse, b & b ristorante and otto enoteca e pizzeria, all located in the venetian and palazzo resorts, were informed of the decision friday morning. bastianich is scheduled to visit the restaurants friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions .
el dorado spa resorts boasts award - winning cuisine in a wide variety of settings. our chefs and servers have been trained around the world, bringing a level of passion, creativity, sophistication and service that rivals the finest restaurants. our wine list, crafted in conjunction with renowned jackson family wines, has received wine spectator' s award of excellence. and bartenders in our many bars and lounges pour freely from the top shelf. the most amazing part is it' s all included. so there may never be a better opportunity to exercise your taste for adventure .
company financials showed that isle of capris started to demonstrate a turnaround in 2015 after posting losses of $ 129. 7 million, $ 47. 6 million and $ 127. 7 million in the three fiscal years prior to that. eldorado’s interest likely played a role as the change occurred right around the time that carano’s company seriously started looking into isle of capris. the changes included a positive net income of $ 5. 2 million in 2015 and $ 46. 2 million in 2016 .
in 1967, don became a partner in the boomtown casino with his friends bob cashell and bob mcdonald. in 1972, he became a co - owner of the pioneer inn on virginia street. along with long - time partner and friend, jerry poncia, and colleague john lazovich. his true legacy began in 1973 when he opened the eldorado hotel casino, the first major casino to open on virginia street north of the railroad tracks. at that time, many considered this to be an extremely daring venture, but ultimately it was one that changed the profile of gaming in northern nevada .
the merged company now owns and operates six properties in nevada, ohio, west virginia, louisiana and pennsylvania, including presque isle downs in summit township .
a key step before the merger occurred in harrisburg on wednesday, when the pennsylvania gaming control board unanimously approved licensing for the merged company and its principals, including gary carano, who is chairman and chief executive of the combined companies. the gaming board regulates the state' s casino industry .
presque isle downs, which opened in february 2007, has faced increasing competition in recent years, particularly from three new casinos that opened in the cleveland area .
jeff favre, general manager of presque isle downs, said he doesn' t anticipate any immediate changes at the casino. but he said the merger is a positive development .
i think it' s going to be good for the (merged) company, good for presque isle downs, and good for our players and our employees ,
favre said .
shareholders of mtr gaming previously approved the merger agreement. effective immediately after friday' s merger, mtr gaming ceased to be a publicly traded company, and its common stock discontinued trading on the nasdaq .
the merged company started trading on the nasdaq global select market under the ticker symbol
eri .
john guerriero can be reached at 870 - 1690 or by e - mail. follow him on twitter at urltoken
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a second - generation italian - american, don was born in reno on october 17, 1931. he completed his undergraduate degree at the university of san francisco, followed by two years as an officer in the united states army .
returning to usf, don graduated with honors from usf law school and began his law practice in reno. he was a founding member of the prestigious mcdonald carano law firm and was proud to maintain an “of counsel” relationship with the firm until his passing .
don carano was advised not to do it, but builds a brand new hotel casino north of the tracks in reno anyway. 282 guest rooms and a 10, 000 - square - foot gaming floor with 200 slots and 12 table games .
featuring luxurious suite amenities, the spa tower is built with panoramic views of the sierra nevada mountains to the west and dazzling reno city lights to the east .
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indulge in our award - winning experience in gourmet luxury, providing guests an unmatched, five star level of service, amenities, activities, and cuisine. the gourmet inclusive ® experience is a statement of ingenuity, innovation, and pure creative passion. it’s a promise of cuisine crafted to perfection, premium drinks handpicked to form an award - winning international menu, service above and beyond the description of attentive, and activities inviting you to explore the beauty of the riviera maya. the complete gourmet inclusive ® experience is included with your stay, redefining the all - inclusive concept .
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but an amended deal would have the louisville casino and racing company taking over a different casino in another state .
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the potential legalisation of sports gambling in the us is worrying casino loan investors as par - plus secondary loan prices could wilt if the prospect of improved earnings triggers a loan refinancing wave. a us supreme court ruling on may 14 paved the way for states to legalise sports gambling, which is expected to turbocharge earnings for gaming companies and casino companies and has triggered an equities rally. “the legalisation of sports betting will provide a shot in the arm for casino operators and casinos themselves, ” said steven oh, global head of credit and fixed income at pinebridge investments .
new york, may 14, 2018 - - in new independent research reports released early this morning, fundamental markets released its latest key findings for all current investors, traders, and shareholders of penn ...
the reno, nevada - based company said it had profit of 27 cents per share. earnings, adjusted for asset impairment costs, were 37 cents per share. the results did not meet wall street expectations. the average ...
establishes 2018 second quarter and revises full year guidance declares 2018 second quarter dividend of $ 0. 63 per common share acquisition of the tropicana entertainment real estate assets for $ 1. 21 billion... .
the bullish trend in gambling industry is expected to continue through 2018 and beyond owing to strength in domestic market and turnaround in macau business .
the following bids, mergers, acquisitions and disposals were reported by 2000 gmt on monday: * * shire, the london - listed rare diseases specialist that is a potential takeover target for japan' s takeda pharmaceutical, is selling its oncology business to unlisted french drugmaker servier for $ 2. 4 billion. * * pebblebrook hotel trust has sweetened its $ 3 billion - plus offer to buy u. s. peer lasalle hotel properties after the owner of high - end locations including' w' los angeles saw an initial bid rebuffed last month .
exhale nevada ceo pete findley talks about the one year anniversary of the legalization of recreational marijuana in nevada. (k. m. cannon / las vegas review - journal )
financial advisors talk about saving trends among young adults. (bailey schulz / las vegas review - journal )
president donald trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in las vegas and other cities could get hit hard .
barry yost, co - owner of precision tube laser, llc, places a metal pipe into the trulaser tube 5000 laser cutting machine on wednesday, june 20, 2018, in las vegas. bizuayehu tesfaye / las vegas review - journal @ bizutesfaye
the director of the nevada film office discusses its revamped locations database and how it will affect local businesses. (bailey schulz / las vegas review - journal )
unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price .
gondolier marciano sings a the classic italian song
volare
as he leads guests through the canals of the venetian in las vegas. (k. m. cannon / las vegas review - journal )
texas homebuilder d. r. horton bought 43 lots in rural logandale. (eli segall / las vegas review - journal )
experts discuss nevada' s indoor farming industry. (bailey schulz / las vegas review - journal )
months after developer steve witkoff bought the fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a marriott - managed resort called the drew. but if richard “boz” bosworth’s plans didn’t fall through, the north las vegas strip tower could have become a waldorf astoria with several floors of timeshare units. (eli segall / las vegas review - journal )
rossi ralenkotter, ceo of the lvcva, on tuesday confirmed a las vegas review - journal report that he is preparing to retire. richard n. velotta / las vegas review - journal
cousins maine lobster food truck company will open inside las vegas’ two newest smith’s at skye canyon park drive and u. s. highway 95, and at warm springs road and durango drive. cousins currently sells outside some las vegas smith’s stores and at fremont street and las vegas boulevard. (k. m. cannon / las vegas review - journal )
lawrence yun, chief economist at the national association of realtors, gives homebuyers a pulse on the las vegas housing market. (eli segall / las vegas review - journal )
the company is planning to add six solar projects in nevada, along with the state' s first major battery energy storage capacity. bailey schulz / las vegas review - journal
the learning center education company in las vegas has launched the first apprenticeship program for cybersecurity in nevada. it was approved by the state apprenticeship council on may 15. (k. m. cannon / las vegas review - journal )
a 2018 survey found that over two - thirds of small businesses in nevada find it somewhat to very difficult to recruit qualified candidates. bailey schulz / las vegas review - journal
property developer andy pham tells how control of his business was easily seized by another person using the secretary of state website .
less than a year - and - a - half after it opened, the lucky dragon was in bankruptcy .
grocery stores used to draw people to shopping centers. but many large retail spaces have been vacant since 2008. discount stores like goodwill and gyms like eos fitness are filling those empty spaces, and helping to draw shoppers back in. k. m. cannon / las vegas review - journal
the stadium is funded in part by $ 750 million of room taxes, the biggest such tax subsidy ever for a professional sports stadium. robert lang, executive director of brookings mountain west and the lincy institute at unlv, says that is a good use of public funds. (richard velotta / las vegas review - journal )
robert lang, executive director of brookings mountain west and the lincy institute said he is afraid of a
congestion mobility crisis .
las vegas needs a light rail system, he said, to accommodate the city' s growing number of attractions. (richard velotta / las vegas review - journal )
sneak peak at the new
star wars: secrets of the empire
vr experience at the grand canal shoppes .
las vegas review - journal real estate reporter eli segall says flipping houses has waned in popularity after the housing bubble burst .
ellis island, which operates a casino, brewery and hotel just off the strip, purchased the mt. charleston lodge in early april .
nevada gaming commission chairman tony alamo talks about an amendment making casinos subject to the same disciplinary standards of preventing people to gamble if impaired by drugs as they are for letting them play while intoxicated by alcohol .
las vegas artist behind lady liberty statue to get $ 3. 5m from usps
wheels wars: construction delays in dubai, new york mean las ...
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holders of more than 99 percent of the isle shares that voted cast votes in favor of th deal, representing about 84 percent of isle' s outstanding common stock. isle shareholders also approved, on an advisory basis, certain payments to executive officers in connection with the merger .
officials with the companies said the transaction is still expected to close in the second quarter this year, subject to approval by gaming regulators and other customary closing conditions .
isle of capri casinos reported fiscal 2015 profit of $ 46. 2 million on net revenue of $ 978. 6 million .
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from behind the glass windows of his 11th - floor downtown reno office, carano pointed toward plumas street just below .
these days, carano stands atop an expanding hotel - casino empire that is increasingly stepping outside its traditional comfort zone in reno .
the company is a far cry from the humble hotel - casino that family patriarch don carano started in 1973. back then, the original 282 - room building was considered a risky gamble that was destined for failure .
for carano, the move is not simply about showing strength. it’s about staying ahead of the game in order to survive .
just as today’s reno is a far cry from the city that he fished in as a boy, changing market forces require hotel - casinos of the present to adapt and evolve, carano said. one only needs to look at former family - owned hotel - casinos such as comstock, sundowner and fitzgerald' s — former downtown reno fixtures that have since been turned into non - gaming entities. having a recession on top of tribal gaming’s onslaught only made matters worse .
“they used to say that gaming was recession - proof, ” carano said. “the recession proved that just like every industry, nobody is recession proof. ”
from 1999 to 2012, casinos in washoe county — which includes reno, sparks and north lake tahoe — saw revenues or “gaming win” drop annually 10 times in 14 years, according to data from the nevada gaming control board .
this included four straight years of declines from 2001 to 2004 as the specter of indian or tribal gaming cast a shadow over northern nevada, including the opening of thunder valley casino in 2003 just 27 miles north of sacramento in lincoln, calif .
the reno area rebounded for two years with gaming win gains in 2005 and 2006 during the real estate bubble. the great recession, however, pulled the rug from under nevada and hit the silver state particularly hard .
the downturn triggered six straight years of falling revenue for washoe county gaming operations from 2007 - 2012. after many years of posting revenues above $ 1 billion each year, washoe dipped below the key threshold in 2008, falling as low as $ 738. 2 million in 2012. the area has yet to get back to the billion - dollar threshold for gaming win since falling below the mark .
“they had two choices, stay and be what they were, maximize that and try to survive under those circumstances or find a way to diversify, ” said ken adams, a reno - based gaming analyst with cdc consulting. “the caranos were smart enough to foresee the limits of what they had. ”
a look at washoe county gaming revenue through the years in actual dollars. hover over the graph to see actual values .
the growth makes the company a big player in gaming, according to adams .
although gary carano’s father continues to have a soft spot for the company he started, the elder carano’s attention is focused on a different enterprise today. the hotel - casino owner turned wine patron spends a lot of time at ferrari - carano vineyards and winery, which comprises more than 1, 500 acres in california’s sonoma county. the business includes the estate winery in dry creek valley where the company’s white wines are made, and the mountain winery in alexander valley, where red wines are produced .
carano smiled and shook his head in amusement as well as disbelief while talking about seeing his father’s wines at shops and supermarkets .
“that’s his real love, ” carano said. “he’s very happy for our company, but his real love is expanding the winery and doing those wines. ”
while researching the venture, carano says he could not help but notice familiar themes in the companies’ histories. founder bernie goldstein, dubbed the father of modern riverboat gambling, was a lawyer just like carano’s father. although goldstein’s children ended up working in the family’s scrap metal firm alter trading corp. instead of his casinos, they still held positions at isle of capris’ board.
eldorado resorts , inc. ( nasdaq : eri ) is a gaming company based in reno , nevada . it was formed on september 19 , 2014 by the merger of mtr gaming group and eldorado holdco llc .
eldorado resorts, inc. (nasdaq: eri) is a gaming company based in reno, nevada. it was formed on september 19, 2014 by the merger of mtr gaming group and eldorado holdco llc.
eldorado resorts, inc. (nasdaq: eri) is a gaming company based in reno, nevada. it was formed on september 19, 2014 by the merger of mtr gaming group and eldorado holdco llc.