We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Caesars Entertainment Inc | NASDAQ:CZR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 36.38 | 36.50 | 37.40 | 0 | 01:00:00 |
RENO, Nev., Sept. 26, 2016 /PRNewswire/ -- Eldorado Resorts, Inc. (NASDAQ: ERI) ("Eldorado," "ERI," or "the Company") announced today that it expects to invest more than $50 million in facility enhancements to Eldorado Reno, Silver Legacy and Circus Circus Reno. Eldorado's master plan for the three connected properties, which span eight city blocks in downtown Reno, will be phased over three years, commencing in the fourth quarter of 2016. In addition to the renovation of over 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, creating a new standard of lodging in the city. 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 significantly diversify Eldorado's operations geographically and financially.
Experience the interactive Multimedia News Release here: https://www.multivu.com/players/English/7918651-eldorado-resorts-50mm-investment
Reno is experiencing a strong economic upturn and a travel, tourism and cultural renaissance with healthy year-over-year growth. Expanded airline service to and from Reno combined with improvements in housing values, higher employment rates, increased recreational activities, an emerging food and art scene, as well as a variety of year-round cultural events, has created extraordinary excitement for both locals and tourists in the destination. In addition to Reno's strong ties to gaming, entertainment and tourism, the city's attractive economic environment is drawing diversified commerce with leading data centers, startups, technology, clean energy and healthcare companies moving their businesses and adding employees to the region.
"Downtown Reno's renaissance and re-emergence as a vibrant growing economy has been remarkable and as the leading gaming and lodging operator in the market Eldorado Resorts has and will continue to benefit from the increased economic, tourist and local activity," said Gary Carano, Chairman and Chief Executive Officer of Eldorado. "Eldorado is a legacy operator in the market, having owned and operated Eldorado Reno since 1973. We acquired the remaining 50 percent interest in the Silver Legacy Resort Casino Reno, as well as all of the assets of Circus Circus Reno last summer based on our extensive knowledge of the Reno market and the surrounding region and the emerging recovery which is attracting new businesses that are catalyzing long-term economic support. Since then, we have undertaken detailed analysis and design work to develop a comprehensive master plan for our Reno Tri-properties focused on significantly elevating the gaming, entertainment, food and beverage and other amenities we bring to guests with a concurrent focus on generating an attractive return on our investment. The master plan and $50 million investment announced today will allow us to further integrate the guest experience among our three connected properties to deliver an enhanced and seamless luxury resort environment for our valued guests. We are excited to be starting construction later this year which will also contribute to the market's employment and economic strength and believe that all of our constituents, including guests, employees, shareholders and the local market will benefit from our strengthened Reno operations."
Highlights of the reinvestment for Eldorado's Reno Tri-properties include:
Eldorado Reno
Guestrooms
Influenced by the opulence of Eldorado, the mythical South American City of Gold, the design of new guestrooms at Eldorado Resort Casino reflects a refined and luxurious aesthetic. From elegant walls that feature a large abstract floral pattern to muted wall tones, punctuated by furnishings in walnut woods with gold accents, each room will offer a distinguished guest experience, which continues into the bathrooms, where new vanities, lighted mirrors, flooring and showers will create a spa-like setting.
Luxury Spa
Creating a game-changing two-floor experience, Eldorado's serene and all-new spa will offer a world-class, 20,000 square-foot healing sanctuary featuring indoor and outdoor spaces, including a rooftop pool. Embodying a Zen Tahoe-style atmosphere that celebrates fitness, wellness and tranquility, the contemporary full-service spa will be in partnership with renowned designers Trilogy Spa Holdings.
Food & Beverage
Public Spaces
Silver Legacy
Guest Bathrooms
Inspired by the Silver Legacy's vibrant, hip and happening atmosphere, all guest bathrooms will be updated with rich, modern accessories, to complement the plush carpeting and fine linen beds in Silver Legacy's discerning guestrooms. New bathrooms will feature soothing furnishings reminiscent of the breathtaking views of the Sierra Nevada Mountains.
Race and Sports Book
The all-new 8,500 square-foot William Hill Race and Sports Book at Silver Legacy, a $2 million project, opened Sept. 8 just in time for football season. Upon entering the new Race and Sports Book, two incredible, state-of-the-art, high-definition LED walls, each measuring an impressive 27 feet wide by 9 feet high, makes sports fans feel as if they were on the 50-yard line at any football stadium in America. Lined with 167 seats of unobstructed viewing, games will be played on over 60 televisions and a center bar with 20 beers on tap including local micro-brew favorites like Pigeon Head Pilsner and The Brew Brothers Carano Extra. The center bar also has 18 video poker machines, making it the only book in northern Nevada with a video poker bar.
Food & Beverage
Dome Experience
As the central attraction of Silver Legacy, an all-new immersive high-tech interactive experience will be created.
Circus Circus Reno
Lighting of the Towers
The skyline of Reno will be brought back to life when the towers at Circus Circus are lit up with the latest in LED lighting technology.
Guestrooms
Embracing a playful design aesthetic, guestrooms at Circus Circus Reno will be completely remodeled with inspiration from "The Greatest Show on Earth." From alluring carpets with splatters of bright colors to graphic wall sets that display Reno street scenes and neon signs, every inch of the rooms pay homage to the liveliness of the city. The contemporary rooms, which will also feature newly redesigned bathrooms, will provide a modern and whimsical place away from home suitable for business or pleasure.
Food & Beverage
Carnival Midway Reinvention
Fun for adults and kids alike, the midway will be reinvented; transformed from a traditional American circus vibe to a more whimsical European feel. Featuring a variety of performers, entertainment and games of chance, the venue will create a new sense of wonder by highlighting the clowns, acrobats and artists at its epicenter.
Public Spaces
Race and Sports Book
The Circus Circus Race and Sports Book (also a William Hill design) will undergo renovations including upgraded sports viewing with state-of-the-art big screen TVs and a new sports bar and lounge.
Details on each of the property's renovations will continue to be announced. For more information, or to keep updated on the exciting enhancements at Eldorado Resorts' Reno Tri-properties, visit www.eldoradoresorts.com.
About Eldorado Resorts, Inc.
Eldorado Resorts is a casino entertainment company that owns and operates seven properties in five states, including the Eldorado Resort Casino, the Silver Legacy Resort Casino and Circus Circus Resort Casino in Reno, NV; the Eldorado Resort Casino in Shreveport, LA; Eldorado Gaming Scioto Downs in Columbus, OH; Mountaineer Casino Racetrack & Resort in Chester, WV; and Presque Isle Downs & Casino in Erie, PA.
The Company recently announced that it has entered into a definitive merger agreement to acquire Isle of Capri for total consideration of $1.7 billion. Upon completion of the transaction, expected to occur in the second quarter of 2017, Eldorado will add 13 additional properties to its portfolio.
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 our strategies, objectives and plans for future development or acquisitions of properties or operations, as well as expectations, future operating results and other information that is not historical information. When used in this press release, the terms or phrases such as "anticipates," "believes," "projects," "plans," "intends," "expects," "might," "may," "estimates," "could," "should," "would," "will likely continue," and variations of such words or similar expressions are intended to identify forward-looking statements. 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. There are a number of risks and uncertainties that could cause our actual results to differ materially from those expressed in the forward-looking statements which are included elsewhere in this press release. Such risks, uncertainties and other important factors include, but are not limited to: our ability to acquire Isle of Capri Casinos, Inc. and the timing of such acquisition; our ability to integrate the operations of Isle of Capri Casinos, Inc. into our operations and realize the benefits of such transaction; our substantial indebtedness and the impact of such obligations on our operations and liquidity; competition; our geographic concentration; sensitivity of our operations to reductions in discretionary consumer spending and changes in general economic and market conditions; governmental regulations and increases in gaming taxes and fees in jurisdictions in which we operate; risks relating to pending claims or future claims that may be brought against us; the effect of disruptions to our information technology and other systems and infrastructure; construction factors relating to maintenance and expansion of operations; our ability to attract and retain customers; weather or road conditions limiting access to our properties; the effect of war, terrorist activity, natural disasters and other catastrophic events; and competition to attract and retain management and key employees; and other risks described in our filings with the Securities and Exchange Commission.
Media Contacts:
Allied Integrated Marketing
Rosalind Congleton, rcongleton@alliedim.com
Stephen Will, swill@alliedim.com
Eldorado Resorts, Inc.
Angela Kabisch, angela@eldoradoreno.com
Sara Robbins, srobbins@silverlegacy.com
Investor Contacts:
Thomas Reeg
President and Chief Financial Officer
Eldorado Resorts, Inc.
(775) 328-0112
investorrelations@eldoradoresorts.com
Joseph Jaffoni, Richard Land, James Leahy
JCIR
(212) 835-8500
eri@jcir.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/eldorado-resorts-plans-more-than-50-million-of-facility-upgrades-at-its-three-reno-properties-300333657.html
SOURCE Eldorado Resorts, Inc.
Copyright 2016 PR Newswire
1 Year Caesars Entertainment Chart |
1 Month Caesars Entertainment Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions