In 2020, Eldorado Resorts and Maverick Gaming signed a second deal which will see Maverick adding Montbleu Resort Casino and Spa in Lake Tahoe, Nevada, to their growing portfolio of land-based properties.
The final agreement is subject to regulatory approvals as well as other customary closing conditions, and both companies emphasise the assumption that the transaction will be completed by the second half of 2020.
Montbleu Resort Casino and Spa will add 400 hotel rooms, almost 600 slot machines, 30 table games, a 1200 seat showroom and four restaurants to the footprint of Maverick Gaming in the USA.
Tom Reeg, Chief Executive Officer of Eldorado noted: “The agreement to divest Montbleu is consistent with our continued focus on the expected closing for the Caesars transaction in the first half of 2020.”
In January, Maverick Gaming, regional casino owner and operator, announced the $230 m acquisition of Eldorado Casino and Resort in Shreveport, Louisiana, which includes 1,500 slots, 50 table games, over 400 hotel rooms and six restaurants.
The agreement is subject to regulatory approvals, prior or concomitant completion of the previously announced merger between Eldorado and Caesars Entertainment Corporation and other customary closing conditions, and is expected to close this year.
Eric Persson, Maverick Gaming’s majority owner, claims that the area offers great promise to the firm: “With this acquisition we will increase our position in Northern Nevada to five casinos with inventory nearing 1600 hotel rooms, and over 2100 slot machines.
“We see great opportunity in Northern Nevada and the Reno Tahoe market, and are actively seeking more distribution there.”