Eldorado owns and operates 26 properties in 12 U.S. These have strengthened its free cash flow and earnings per share. In the past few years, it has made a series of acquisitions, including a $1.8 billion deal for Tropicana Entertainment in 2018, and a $1.7 billion deal for Isle of Capri Casinos in 2017. Since going public in 2014, its stocks have risen more than 10 times, outperforming those of MGM Resorts, Las Vegas Sands and Wynn Resorts. Clearly the new merger reshuffles the casino industry.Įldorado has been on a winning streak. Caesars came in third with $8.4 billion, while Wynn Resorts ranked fifth in terms of 2018 revenue at $6.7 billion. MGM Resorts, which brought in $11.8 billion in revenue the same year, is its nearest competitor. The company emerged from bankruptcy in 2017.Īccording to Statista, Las Vegas Sands is the world’s largest casino company, generating a total of $13.8 billion in revenue in 2018. The merger positions it to do just that: As of the end of March, Caesars had 53 properties in 14 states and five countries outside the U.S., including casinos with the well-known Harrah’s and Horseshoe brands. Eldorado set its sights on scaling up to compete with the biggest casino industry players, such as Las Vegas Sands and Wynn Resorts. The $17.3 billion cash-and-stock deal, including debt, creates the largest casino operator in the U.S.
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