Eldorado Resorts Reports Third Quarter Net Revenue of $487.3 Million, Operating Income of $91.8 Million and Adjusted EBITDA of $134.1 Million

RENO, Nev.–(BUSINESS WIRE)–Eldorado Resorts, Inc. (NASDAQ:ERI) (“Eldorado,” “ERI,” or “the
Company”) today reported operating results for the third quarter ended
September 30, 2018.

($ in thousands, except per share data)

  Total Net Revenue
Three Months Ended
September 30,
2018  

2018 Pre-
Acquisition(1)

  2018 Total(2)   2017  

2017 Pre-
Acquisition(3)

 

2017
Total(2)

  Change
West $ 129,092   $

 

  $ 129,092   $ 134,324   $

 

  $ 134,324   (3.9 )%
Midwest 99,834 99,834 103,651 103,651 (3.7 )%
South 106,569 106,569 107,934 107,934 (1.3 )%
East 127,722 127,722 126,796 126,796 0.7 %
Central 23,897 16,693 40,590 42,595 42,595 (4.7 )%
Corporate and Other   139             139       173             173     (19.7 )%
Total Net Revenue $ 487,253     $ 16,693     $ 503,946     $ 472,878     $ 42,595     $ 515,473     (2.2 )%
 
 
($ in thousands, except per share data) Operating Income
Three Months Ended
September 30,
2018  

2018 Pre-
Acquisition(1)

  2018 Total(2)     2017    

2017 Pre-
Acquisition(3)

 

2017
Total(2)

  Change
West $ 31,894 $ $ 31,894 $ 32,657 $ $ 32,657 (2.3 )%
Midwest 26,637 26,637 24,264 24,264 9.8 %
South 16,176 16,176 13,682 13,682 18.2 %
East 23,637 23,637 21,215 21,215 11.4 %
Central 2,868 3,070 5,938 5,588 5,588 6.3 %
Corporate and Other   (9,443 )           (9,443 )     (10,326 )           (10,326 )   (8.6 )%
Total Operating Income $ 91,769     $ 3,070     $ 94,839     $ 81,492     $ 5,588     $ 87,080     8.9 %
 
 
($ in thousands, except per share data) Adjusted EBITDA
Three Months Ended
September 30,
2018  

2018 Pre-
Acquisition(1)

  2018 Total(2)     2017    

2017 Pre-
Acquisition(3)

 

2017
Total(2)

  Change
West $ 41,434 $ $ 41,434 $ 40,424 $ $ 40,424 2.5 %
Midwest 35,278 35,278 32,465 32,465 8.7 %
South 26,015 26,015 20,638 20,638 26.1 %
East 32,114 32,114 28,035 28,035 14.5 %
Central 5,850 3,952 9,802 7,330 7,330 33.7 %
Corporate and Other   (6,601 )           (6,601 )     (6,338 )           (6,338 )   4.1 %
Total Adjusted EBITDA (4) $ 134,090     $ 3,952     $ 138,042     $ 115,224     $ 7,330     $ 122,554     12.6 %
 
 
Net Income $ 37,704   $ 29,687  
Basic EPS $ 0.49   $ 0.39  
Diluted EPS $ 0.48   $ 0.38  
 
($ in thousands, except per share data)   Total Net Revenue
Nine Months Ended
September 30,
2018  

2018 Pre-
Acquisition(1)

  2018 Total(2)   2017  

2017 Pre-
Acquisition(3)

 

2017
Total(2)

  Change
West $ 346,550   $

 

  $ 346,550   $ 297,564   $ 43,414   $ 340,978 1.6 %
Midwest 301,235 301,235 171,292 142,237 313,529 (3.9 )%
South 341,612 341,612 228,954 131,100 360,054 (5.1 )%
East 370,576 370,576 352,721 11,717 364,438 1.7 %
Central 23,897 96,941 120,838 126,349 126,349 (4.4 )%
Corporate and Other   377             377       366       226       592     (36.3 )%
Total Net Revenue $ 1,384,247     $ 96,941     $ 1,481,188     $ 1,050,897     $ 455,043     $ 1,505,940     (1.6 )%
 
 
($ in thousands, except per share data) Operating Income
Nine Months Ended
September 30,
2018  

2018 Pre-
Acquisition(1)

  2018 Total(2)   2017  

2017 Pre-
Acquisition(3)

 

2017
Total(2)

Change
West $ 63,898 $ $ 63,898 $ 50,590 $ 9,525 $ 60,115 6.3 %
Midwest 80,725 80,725 39,676 34,819 74,495 8.4 %
South 50,099 50,099 32,210 25,086 57,296 (12.6 )%
East 67,164 67,164 54,411 (1,072 ) 53,339 25.9 %
Central 2,868 18,448 21,316 21,049 21,049 1.3 %
Corporate and Other   (41,377 )           (41,377 )     (111,834 )     (8,811 )     (120,645 )   (65.7 )%
Total Operating Income $ 223,377     $ 18,448     $ 241,825     $ 65,053     $ 80,596     $ 145,649     66.0 %
 
 
($ in thousands, except per share data) Adjusted EBITDA
Nine Months Ended
September 30,
2018  

2018 Pre-
Acquisition(1)

  2018 Total(2)   2017  

2017 Pre-
Acquisition(3)

 

2017
Total(2)

Change
West $ 91,616 $ $ 91,616 $ 69,847 $ 13,231 $ 83,078 10.3 %
Midwest 105,717 105,717 52,923 46,856 99,779 6.0 %
South 86,634 86,634 46,954 30,998 77,952 11.1 %
East 87,657 87,657 78,597 (120 ) 78,477 11.7 %
Central 5,850 23,403 29,253 26,342 26,342 11.1 %
Corporate and Other   (21,824 )           (21,824 )     (17,016 )     (5,996 )     (23,012 )   (5.2 )%
Total Adjusted EBITDA (4) $ 355,650     $ 23,403     $ 379,053     $ 231,305     $ 111,311     $ 342,616     10.6 %
 
 
Net Income (Loss) $ 95,355   $ (15,558 )
Basic EPS $ 1.23   $ (0.24 )
Diluted EPS $ 1.22   $ (0.24 )
(1)   Figures are for Grand Victoria Casino (“GV”) for the period
beginning July 1, 2018 and ending August 6, 2018 for the three
months ended September 30, 2018 and the period beginning January 1,
2018 and ending August 6, 2018 for the nine months ended September
30, 2018.
(2) Total figures for 2018 include combined results of operations for
ERI and GV and total figures for 2017 include combined results of
operations for ERI, GV and Isle of Capri Casino (“Isle”) for periods
preceding the date that ERI acquired GV and Isle, as applicable.
Such presentation does not conform with GAAP or the Securities and
Exchange Commission rules for pro forma presentation; however, we
believe that the additional financial information will be helpful to
investors in comparing current results with results of prior
periods. This is non-GAAP data and should not be considered a
substitute for data prepared in accordance with GAAP, but should be
viewed in addition to the results of the operations reported by the
Company.
(3) Figures are for GV for the three and nine months ended September 30,
2017 and for Isle for four months ended April 30, 2017. In the case
of Isle, such figures were prepared by the Company to reflect Isle’s
unaudited consolidated historical net revenues, operating income and
Adjusted EBITDA for periods corresponding to ERI’s fiscal quarterly
calendar. Such figures are based on unaudited internal financial
statements and have not been reviewed by the Company’s auditors and
do not conform to GAAP.
(4) Adjusted EBITDA is not a GAAP measurement and is presented solely as
a supplemental disclosure because the Company believes it is a
widely used measure of operating performance in the gaming industry.
See “Reconciliation of GAAP Measures to Non-GAAP Measures” below for
a definition of Adjusted EBITDA and a quantitative reconciliation of
Adjusted EBITDA to operating income (loss), which the Company
believes is the most comparable financial measure calculated in
accordance with GAAP.
 

“The 2018 third quarter was another impressive period of growth for
Eldorado Resorts as Adjusted EBITDA rose at 17 of our 21 properties,
inclusive of the Grand Victoria Casino which was acquired in August. As
a result, all five of our property segments generated year over year
Adjusted EBITDA growth, including double-digit growth for our South,
East and Central segments,” said Gary Carano, Chairman and Chief
Executive Officer of Eldorado. “In addition, the third quarter Adjusted
EBITDA margin rose at all five of our reporting segments with the
increases ranging between 200 and 690 basis points as we continue to
apply operational discipline focused on delivering profitable revenue
and driving strong EBITDA gains. Third quarter consolidated Adjusted
EBITDA rose 12.6% on a year over year basis on top of the strong 16.2%
growth achieved in prior year period, our property-level Adjusted EBITDA
margin improved 370 basis points to 28.7% and our consolidated Adjusted
EBITDA margin rose 360 basis points to 27.4%.

“We completed the acquisition of Grand Victoria Casino, one of the
premier casinos in the Chicagoland market, in August and completed the
acquisition of Tropicana Entertainment in early October. These
acquisitions have significantly expanded the scale of our gaming
operations and diversified our geographic reach into seven new markets
that have minimal overlap with our existing operations. The addition of
these eight properties to our operations and our focus on disciplined
marketing, promotions, advertising, and food and beverage and labor
expense management are expected to drive growth in free cash flow,
positioning us to reduce leverage while evaluating additional uses of
free cash flow, including potential continued growth through
acquisitions and the return of capital to shareholders.

“In early September we entered into a landmark agreement to partner with
William Hill to address in-casino, mobile and online sports wagering
opportunities where allowed in our current markets and as enabling
legislation is enacted in the eight other markets where we will operate.
In addition to the equity interest in our partner’s U.S. and global
operations that will be issued to us following receipt of required
regulatory approvals, sports wagering is expected to result in increased
visitation and a new revenue source at our properties where we offer it,
which we anticipate will also drive growth in our gaming and non-gaming
operations. We opened a temporary sportsbook in Atlantic City’s
Tropicana Casino and Resort on October 25 and expect to open our
sportsbook at Mountaineer Casino Racetrack and Resort in Chester, West
Virginia later this month.

“We are excited about our future as we continue to integrate our newly
acquired properties, focus on initiatives that are expected to deliver
margin improvement from our operations, invest in facility enhancements
that are anticipated to deliver attractive returns, and position
ourselves to benefit from developing sports wagering opportunity in the
U.S.”

Balance Sheet and Liquidity

At September 30, 2018, Eldorado had $164.1 million in cash and cash
equivalents, excluding restricted cash. Outstanding indebtedness at
September 30, 2018 totaled $3.0 billion, including $600.0 million of new
debt from the issuance of 6.0% senior notes due 2026 and approximately
$180.0 million outstanding on the Company’s revolving credit facility.
Capital expenditures in the third quarter and first nine months of 2018
totaled $33.9 million and $89.1 million, respectively.

Presque Isle Downs and Casino and Lady Luck Nemacolin are presented as
assets held for sale as of September 30, 2018. Lady Luck Casino
Vicksburg is no longer presented as an asset held for sale as of
September 30, 2018.

Summary of 2018 Third Quarter Region Results

The property results for Presque Isle Downs and Casino and Lady Luck
Nemacolin are included in operations until the announced divestitures of
these properties are completed (expected to be early 2019). Full third
quarter operating results for Grand Victoria Casino, which was acquired
on August 7, are included in the Central region below and throughout
this release. Beginning with the reporting of 2018 fourth quarter
results, the property results for the Tropicana Laughlin Hotel and
Casino and the MontBleu Casino Resort & Spa will be reported as part of
the West region; Belle of Baton Rouge Casino & Hotel and Trop Casino
Greenville will be reported as part of the South region; Tropicana
Casino and Resort, Atlantic City will be reported as part of the East
region; and Tropicana Evansville and Lumière Place will be reported as
part of the Central region.

West Region (THE ROW, Isle Casino Hotel Black Hawk and Lady Luck
Casino Black Hawk)

Net revenue for the West Region properties for the quarter ended
September 30, 2018 declined approximately 3.9% to $129.1 million
compared to $134.3 million in the prior-year period, and operating
income declined to $31.9 million from $32.7 million in the year-ago
quarter. Adjusted EBITDA increased 2.5% to $41.4 million reflecting an
Adjusted EBITDA margin improvement of 200 basis points to 32.1%,
compared to Adjusted EBITDA of $40.4 million on an Adjusted EBITDA
margin of 30.1% in the prior-year period. The combined Adjusted EBITDA
margin for the Black Hawk properties exceeded 40% in the quarter.

Midwest Region (Isle Casino Waterloo, Isle Casino Bettendorf,
Isle of Capri Casino Boonville, Isle Casino Cape Girardeau, Lady Luck
Casino Caruthersville and Isle of Capri Casino Kansas City)

Net revenue for the Midwest Region properties for the quarter ended
September 30, 2018 decreased approximately 3.7% to $99.8 million
compared to $103.7 million in the prior-year period, while operating
income rose to $26.6 million from $24.3 million in the year-ago quarter.
Adjusted EBITDA rose approximately 8.7% to $35.3 million as the Adjusted
EBITDA margin for the segment rose 400 basis points to 35.3%. Adjusted
EBITDA was up at all six of the Midwest properties year over year.
Adjusted EBITDA for the Midwest Region in the prior-year period was
$32.5 million reflecting an Adjusted EBITDA margin of 31.3%.

South Region (Isle Casino Racing Pompano Park, Eldorado
Shreveport, Isle of Capri Casino Lula, Lady Luck Casino Vicksburg and
Isle of Capri Lake Charles)

Net revenue for the South Region properties for the quarter ended
September 30, 2018 declined approximately 1.3% to $106.6 million
compared to $107.9 million in the prior-year period, while operating
income increased to $16.2 million from $13.7 million in the year-ago
quarter. Adjusted EBITDA increased 26.1% to $26.0 million as the
Adjusted EBITDA margin for the segment rose 530 basis points to 24.4%.

East Region (Presque Isle Downs and Casino, Lady Luck Casino
Nemacolin, Eldorado Scioto Downs Racino and Mountaineer Casino,
Racetrack and Resort)

Net revenue for the East Region properties for the quarter ended
September 30, 2018 increased approximately 0.7% to $127.7 million
compared to $126.8 million in the prior-year period, while operating
income grew to $23.6 million from $21.2 million in the year-ago quarter.
Adjusted EBITDA for the East Region rose 14.5% to $32.1 million compared
to Adjusted EBITDA of $28.0 million in the prior-year period as the East
Region’s Adjusted EBITDA margin improved 300 basis points to 25.1%.
Eldorado Scioto Downs generated Adjusted EBITDA growth for the fifteenth
consecutive quarter.

Central Region (Grand Victoria Casino)

Net revenue for the Central Region for the quarter ended September 30,
2018 declined approximately 4.7% to $40.6 million compared to $42.6
million in the prior-year period, while operating income grew to $5.9
million from $5.6 million in the year-ago quarter. Adjusted EBITDA for
the Central Region rose 33.7% to $9.8 million compared to Adjusted
EBITDA of $7.3 million in the prior-year period as the Central Region’s
Adjusted EBITDA margin improved 690 basis points to 24.1%.

Reconciliation of GAAP Measures to Non-GAAP Measures

Adjusted EBITDA (defined below), a non-GAAP financial measure, has been
presented as a supplemental disclosure because it is a widely used
measure of performance and basis for valuation of companies in our
industry and we believe that this non-GAAP supplemental information will
be helpful in understanding the Company’s ongoing operating results.
Management has historically used Adjusted EBITDA when evaluating
operating performance because we believe that the inclusion or exclusion
of certain recurring and non-recurring items is necessary to provide a
full understanding of our core operating results and as a means to
evaluate period-to-period results. Adjusted EBITDA represents operating
income (loss) before depreciation and amortization, stock-based
compensation, transaction expenses, severance expense, costs associated
with the Presque Isle Downs, Vicksburg, Lake Charles and Nemacolin
sales, income related to the termination of the Vicksburg sale,
impairment charges, equity in income (loss) of unconsolidated
affiliates, (gain) loss on the sale or disposal of property and
equipment, and other non-cash regulatory gaming assessments. Adjusted
EBITDA is not a measure of performance or liquidity calculated in
accordance with accounting principles generally accepted in the United
States (“US GAAP”), is unaudited and should not be considered an
alternative to, or more meaningful than, net income (loss) as an
indicator of our operating performance. Uses of cash flows that are not
reflected in Adjusted EBITDA include capital expenditures, interest
payments, income taxes, debt principal repayments and certain regulatory
gaming assessments, which can be significant. As a result, Adjusted
EBITDA should not be considered as a measure of our liquidity. Other
companies that provide EBITDA information may calculate EBITDA
differently than we do. The definition of Adjusted EBITDA may not be the
same as the definitions used in any of our debt agreements.

Third Quarter Conference Call

Eldorado will host a conference call at 4:30 p.m. ET today. Senior
management will discuss the financial results and host a question and
answer session. The dial in number for the audio conference call is
323/794-2590, conference ID 1925022 (domestic and international
callers). Participants can also access a live webcast of the call
through the “Events & Presentations” section of Eldorado’s website at http://www.eldoradoresorts.com/
and a replay of the webcast will be archived on the site for 90 days
following the live event.

About Eldorado Resorts, Inc.

Eldorado Resorts is a leading casino entertainment company that owns and
operates twenty-eight properties in thirteen states, including Colorado,
Florida, Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri,
Nevada, New Jersey, Ohio, Pennsylvania and West Virginia. In aggregate,
Eldorado’s properties feature more than 30,000 slot machines and VLTs
and 800 table games, and over 12,500 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 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:
Eldorado’s ability to promptly and effectively integrate the
operations of Tropicana and Grand Victoria and realize synergies
resulting from the combined operations; the possibility that sports
book, online and mobile betting and gaming are not approved in various
jurisdictions, or, to the extent that such gaming activities are
approved, the market for such gaming does not develop as anticipated;
our substantial indebtedness and the impact of such obligations on our
operations and liquidity; our ability to identify and execute
acquisition and development opportunities; competition; sensitivity of
our operations to reductions in discretionary consumer spending and
changes in general economic and market conditions; governmental
regulations, including risk relating to obtaining and maintaining
required licenses, approvals and permits necessary for the operation of
online and mobile betting and gaming, and increases in gaming taxes and
fees in jurisdictions in which we operate; and other risks and
uncertainties described in 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.

ELDORADO RESORTS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

($ in thousands, except per share data)

(unaudited)

 
  Three Months Ended   Nine Months Ended
September 30, September 30,
2018   2017 2018   2017
REVENUES:        
Casino $ 362,877 $ 347,537 $ 1,046,010 $ 764,684
Pari-mutuel commissions 5,292 5,111 14,407 9,859
Food and beverage 58,153 59,537 164,644 141,667
Hotel 44,780 45,962 114,447 99,545
Other     16,151     14,731     44,739     35,142
Net revenues     487,253     472,878     1,384,247     1,050,897
EXPENSES:
Casino 175,333 169,322 506,536 389,010
Pari-mutuel commissions 4,729 4,657 13,022 9,894
Food and beverage 45,381 51,220 134,927 120,041
Hotel 13,977 15,513 40,178 36,862
Other 9,315 9,632 25,030 22,702
Marketing and promotions 23,122 26,439 66,255 58,099
General and administrative 75,599 75,650 223,546 168,339
Corporate 9,217 7,718 33,018 21,734
Impairment charges 3,787 13,602
Depreciation and amortization     35,760     29,122     99,204     69,635
Total operating expenses 396,220 389,273 1,155,318 896,316
(Loss) gain on sale or disposal of property and equipment (110 ) 4 (393 ) (51 )
Proceeds from terminated sale 5,000 5,000
Transaction expenses (4,091 ) (2,094 ) (10,043 ) (89,172 )
Equity in loss of unconsolidated affiliates     (63 )     (23 )     (116 )     (305 )
Operating income     91,769     81,492     223,377     65,053
OTHER EXPENSE:
Interest expense, net (34,085 ) (29,183 ) (96,579 ) (69,380 )
Loss on early retirement of debt, net         (10,030 )     (162 )     (37,347 )
Total other expense     (34,085 )     (39,213 )     (96,741 )     (106,727 )
Net income (loss) before income taxes 57,684 42,279 126,636 (41,674 )
(Provision) benefit for income taxes     (19,980 )     (12,592 )     (31,281 )     26,116
Net income (loss) $   37,704 $   29,687 $   95,355 $   (15,558 )
Net income (loss) per share of common stock:
Basic $   0.49 $   0.39 $   1.23 $   (0.24 )
Diluted $   0.48 $   0.38 $   1.22 $   (0.24 )
Weighted average basic shares outstanding     77,522,664     76,902,070     77,445,611     63,821,705
Weighted average diluted shares outstanding     78,283,588     77,959,689     78,208,040     63,821,705
1.   The prior period presentation has been adjusted for the adoption of
Accounting Standards Codification (ASC) No. 606 “Revenue from
Contracts with Customers” effective January 1, 2018 utilizing the
full retrospective transition method. See reconciliation table on
the last page of this release for further details.
 

ELDORADO RESORTS, INC.

SUMMARY INFORMATION AND RECONCILIATION OF

OPERATING INCOME (LOSS) TO ADJUSTED EBITDA

($ in thousands)

 
  Three Months Ended September 30, 2018
 

Operating

 

Depreciation and

 

Stock-based

 

Transaction

   

Adjusted

Income

 

Amortization

 

Compensation

 

Expenses (6)

  Other (7)  

EBITDA

Excluding Pre-Acquisition:
West $ 31,894 $

9,475

 

$

 

$

 

$ 65 $ 41,434
Midwest 26,637 8,605 15 21 35,278
South 16,176 9,704 9 126 26,015
East 23,637 4,486 2 3,989 32,114
Central 2,868 2,215 767 5,850
Corporate   (9,443 )     1,275       2,468       4,091       (4,992 )     (6,601 )
Total Excluding Pre-Acquisition $ 91,769     $ 35,760     $ 2,494     $ 4,091     $ (24 )   $ 134,090  
 
Pre-Acquisition (1):
Central $ 3,070     $ 727     $     $     $ 155     $ 3,952  
Total Pre-Acquisition $ 3,070     $ 727     $     $     $ 155     $ 3,952  
 
Including Pre-Acquisition:
West $ 31,894 $ 9,475 $ $ $ 65 $ 41,434
Midwest 26,637 8,605 15 21 35,278
South 16,176 9,704 9 126 26,015
East 23,637 4,486 2 3,989 32,114
Central 5,938 2,942 922 9,802
Corporate   (9,443 )     1,275       2,468       4,091       (4,992 )     (6,601 )
Total Including Pre-Acquisition (2) $ 94,839     $ 36,487     $ 2,494     $ 4,091     $ 131     $ 138,042  
 
 
Three Months Ended September 30, 2017 (8)
 

Operating

Depreciation and

Stock-based

Transaction

Adjusted

Income

 

Amortization

 

Compensation

 

Expenses (6)

  Other (7)  

EBITDA

Excluding Pre-Acquisition:
West $ 32,657 $ 7,653 $ 67 $ $ 47 $ 40,424
Midwest 24,264 7,995 67 139 32,465
South 13,682 6,055 46 855 20,638
East 21,215 6,732 5 83 28,035
Central
Corporate   (10,326 )     687       1,207       2,094             (6,338 )
Total Excluding Pre-Acquisition $ 81,492     $ 29,122     $ 1,392     $ 2,094     $ 1,124     $ 115,224  
 
Pre-Acquisition (3):
Central $ 5,588     $ 1,742     $     $     $     $ 7,330  
Total Pre- Acquisition $ 5,588     $ 1,742     $     $     $     $ 7,330  
 
Including Pre-Acquisition:
West $ 32,657 $ 7,653 $ 67 $ $ 47 $ 40,424
Midwest 24,264 7,995 67 139 32,465
South 13,682 6,055 46 855 20,638
East 21,215 6,732 5 83 28,035
Central 5,588 1,742 7,330
Corporate   (10,326 )     687       1,207       2,094             (6,338 )
Total Including Pre-Acquisition (4) $ 87,080     $ 30,864     $ 1,392     $ 2,094     $ 1,124     $ 122,554  
 

Contacts

Thomas Reeg
President and Chief Financial Officer
Eldorado
Resorts, Inc.
775/328-0112
investorrelations@eldoradoresorts.com
or
Joseph
N. Jaffoni, Richard Land
JCIR
212/835-8500
eri@jcir.com

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