Eldorado Resorts, Inc. Announces Pricing of Senior Notes Offering
September 11 2017 - 5:32PM
Business Wire
Eldorado Resorts, Inc. (NASDAQ:ERI) (“Eldorado,” “ERI,” or the
“Company”) announced today that it priced its previously announced
offering of an additional $500 million in aggregate principal
amount of its 6% senior notes due 2025 (the “Notes”) at an issue
price equal to 105.5% of the principal amount of the Notes. The
offering size represents an increase of $150 million from the
previously announced offering size. The offering is expected to
close on or about September 13, 2017, subject to customary closing
conditions.
ERI will use the proceeds of the offering to repay all of the
outstanding borrowings under its revolving credit facility, which
borrowings were approximately $78 million as of September 8, 2017,
and will use the remainder to repay outstanding borrowings under
ERI’s term loan facility and related accrued interest.
ERI has filed a registration statement on Form S-3 (including a
prospectus) with the Securities and Exchange Commission (the “SEC”)
for this offering. Prospective investors should read the final
prospectus forming a part of that registration statement when it
becomes available and the other documents that ERI has filed with
the SEC for more complete information about ERI and this offering.
A copy of the final prospectus may be obtained when it becomes
available by contacting: J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department (or by calling toll-free (866)
803-9204), or by visiting EGAR on the SEC website at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any
sale of securities in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
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
the timing and completion of the offering. 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. Factors that may cause actual results to vary from our
expectations include general market conditions and volatility and
other matters discussed documents we file with the Securities and
Exchange Commission (SEC). More information on potential risks and
uncertainties is available in our recent filings with the SEC,
including 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170911006296/en/
Eldorado Resorts, Inc.Thomas Reeg, 775-328-0112President and
Chief Financial
Officerinvestorrelations@eldoradoresorts.comorJCIRJoseph N.
Jaffoni, Richard Land, 212-835-8500eri@jcir.com
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