ERI - Eldorado Resorts, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
39.53
-1.67 (-4.05%)
At close: 4:00PM EDT

39.89 +0.36 (0.91%)
After hours: 7:53PM EDT

Stock chart is not supported by your current browser
Previous Close41.20
Open42.11
Bid39.63 x 900
Ask39.65 x 800
Day's Range39.05 - 42.73
52 Week Range6.02 - 70.74
Volume4,507,465
Avg. Volume8,565,443
Market Cap3.896B
Beta (5Y Monthly)2.79
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Implied Volatility Surging for Eldorado (ERI) Stock Options
    Zacks

    Implied Volatility Surging for Eldorado (ERI) Stock Options

    Investors need to pay close attention to Eldorado (ERI) stock based on the movements in the options market lately.

  • Thomson Reuters StreetEvents

    Edited Transcript of ERI earnings conference call or presentation 11-May-20 9:30pm GMT

    Q1 2020 Eldorado Resorts Inc Earnings Call

  • Eldorado Resorts (ERI) Surges: Stock Moves 5.7% Higher
    Zacks

    Eldorado Resorts (ERI) Surges: Stock Moves 5.7% Higher

    Eldorado Resorts (ERI) saw a big move last session, as its shares jumped nearly 6% on the day, amid huge volumes.

  • Bloomberg

    Eldorado Resorts Launches $6 Billion Junk Bond for Caesars

    (Bloomberg) -- Eldorado Resorts Inc. launched the sale of about $6 billion of high-yield bonds on Wednesday to finance its acquisition of Caesars Entertainment Corp.The company is marketing a $3.08 billion five-year secured bond with early pricing discussions in the low-to-mid 6% range, and a $1.875 billion seven-year unsecured bond in the mid-to-high 8% range, according to people familiar with the matter. JPMorgan Chase & Co is leading the sale.Books had already reached about $6 billion as of Wednesday afternoon in New York on the two tranches, about half of which was spoken for before the launch, other people familiar said, who asked not to be named discussing a private transaction.The bonds launched on Wednesday and the deal is expected to price Friday.Under Caesars Resort, the company is also marketing $1.05 billion of five-year secured bonds. Credit Suisse Group AG is leading this portion.The financing was one of the largest commitments signed by banks before the Covid-19 pandemic. The banks on this deal recently negotiated better terms that gave them the flexibility to shift a substantial portion of the debt to secured bonds from leveraged loans.Read more: JPMorgan, Credit Suisse ready $7.2 billion debt sale for casinosThe company also launched a $1.47 billion Term Loan B to fund the acquisition. The commitment deadline was moved up to Friday June 19 from Wednesday June 24 originally. Pricing is being discussed at 450 basis points over the London interbank offered rate with a discount of 96 cents on the dollar.Moody’s Investors Service downgraded Eldorado Resorts on Wednesday by one notch to B2, five steps below investment grade, citing the increase in debt, risks associated with integrating and executing the acquisition. They also cited the disruption to casinos caused by the coronavirus. Moody’s rated the new secured notes B1 and the unsecured notes Caa1.(Updates with book color and Moody’s downgrade starting in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • JPMorgan, Credit Suisse Ready $7.2 Billion Debt Sale for Casinos
    Bloomberg

    JPMorgan, Credit Suisse Ready $7.2 Billion Debt Sale for Casinos

    (Bloomberg) -- A group of banks led by JPMorgan Chase & Co. and Credit Suisse Group AG is readying a $7.2 billion debt offering to finance Eldorado Resorts Inc.’s acquisition of Caesars Entertainment Corp., according to people familiar with the matter.Lenders began marketing some of the debt, among the largest commitments signed before the Covid-19 pandemic, on Tuesday, said the people, who asked not to be named because the discussions are private. The offering is expected to include leveraged loans and high-yield bonds, they said.The banks agreed to the financing a year ago, and recently negotiated better terms that give them flexibility to shift a substantial portion of the debt from leveraged loans to secured bonds, according to the people.That change isn’t expected to impact the company’s borrowing costs materially, but it will relieve banks from their original commitment to sell around $5.2 billion of the debt in the loan market where prices remain below levels reached before the outbreak, one of the people said.The deal with be financed with a mix of Caesars and Eldorado debt. Credit Suisse is leading the debt sale for Caesars, while JPMorgan leads the financing for Eldorado.Representatives for Credit Suisse, Eldorado and JPMorgan declined to comment. A representative for Caesars declined to comment on the financing but said the company continues to work toward the closing of the acquisition.The purchase of Caesars is one of the riskiest deals yet to close from the pre-virus era, and will make Eldorado -- once a small, family-run casino business -- the largest operator of gambling establishments in the U.S. The company is also planning to issue new shares, sell some Las Vegas real estate and take other steps to strengthen its finances. The stock offering could generate about $800 million.Read more: Banks promised $7 billion for a casino deal. Then the virus hitLeveraged loan prices have recovered to about 90 cents on the dollar, while an ebullient credit market has seen junk bonds recoup nearly all of their losses this year. Other acquisition financings including for Apollo Global Management Inc.’s buyout of Tech Data Corp have also launched this week. Radio Systems Corp., which owns PetSafe, is marketing a $625 million junk bond offering to finance its buyout by Clayton, Dubilier & Rice.(Updates with details of the financing starting in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why Marriott International, MGM, and Eldorado Resorts Stocks All Popped Today
    Motley Fool

    Why Marriott International, MGM, and Eldorado Resorts Stocks All Popped Today

    Despite all this bad news, hotel and resort stocks got a big pop this morning, with shares of Marriott International (NASDAQ: MAR) rising more than 6%, MGM Resorts (NYSE: MGM) climbing 7%, and Eldorado Resorts (NASDAQ: ERI) up most of all, more than 10%. Last night, after trading had closed for the day, Eldorado Resorts announced the sale of as many as 20.7 million shares of common stock in a play to raise potentially more than $800 million in cash to tide it over through the pandemic. None of that sounds like the actions of a financially healthy company, and indeed, Eldorado Resorts reported a $176 million loss last quarter -- after losing $13 million in the final quarter of 2019, even before COVID-19 hit.

  • Eldorado Plans Sale of Stock, Vegas Land With Caesars Deal Near
    Bloomberg

    Eldorado Plans Sale of Stock, Vegas Land With Caesars Deal Near

    (Bloomberg) -- Eldorado Resorts Inc. said it plans to issue new shares, sell some Las Vegas real estate and take other steps to strengthen its finances ahead of a $17 billion merger of Caesars Entertainment Corp.The casino and gaming company is offering as many as 20.7 million shares of its stock, with the proceeds going to general corporate purposes, the company said Monday. At the closing price of $38.44, that could generate about $800 million.Vici Properties, a real estate investment trust spun off from Caesars, is providing a $400 million mortgage on a convention center Caesars opened in Las Vegas, and is purchasing 23 acres of land nearby for $4.5 million an acre. Eldorado also amended terms to a lease with Gaming and Leisure Properties Inc., which owns a number of casinos that it manages.Lastly, Eldorado and Caesars obtained waivers from banks to requirements that they maintain a certain level of debt to earnings.The acquisition of Caesars, which was first announced in June of last year, is one of the largest and riskiest deals yet to close from the pre-Covid era. The deal will make Eldorado, once a small, family-run casino business, the largest operator of gambling establishments in the U.S.The Reno, Nevada-based company was already having to find new owners for several properties in markets where it feared regulators may have objected to its increased market share. The length of time required to win approvals in each of the states the company would operate in extended into the coronavirus pandemic, which shuttered virtually all of the casinos in the country.Debt RevisionsEldorado and Caesars have obtained more flexibility from banks on key provisions in its debt documents that determine how much the company can borrow relative to its earnings. Companies in large swaths of the travel and entertainment industries have obtained similar concessions from lenders as their earnings plunged during the pandemic, avoiding a wave of defaults.The two companies said they amended terms of their existing bank credit lines and new debt that a group of lenders led by JPMorgan Chase & Co. had agreed to provide for the merger, according to filings. The amendment on the new credit line means Eldorado won’t be required to comply with a covenant that limits the amount of its secured debt to 6.35 times earnings until September 2021, unless it opts to terminate the waiver sooner.The bank group has also agreed to increase the credit lines they are providing to Eldorado and Caesars as part of the financing for the merger by a combined $210 million, according to the filings.Eldorado still requires the blessings of the Federal Trade Commission as well as regulators in New Jersey, Indiana and Nevada. Chief Executive Officer Tom Reeg, originally predicted a close for the deal in the second quarter of this year, while a filing on Monday said it would be in mid-2020.(Updates with Caesars waiver starting in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Eldorado Resorts Raises Cash With an 18 Million-Share Offering
    Motley Fool

    Eldorado Resorts Raises Cash With an 18 Million-Share Offering

    As it moves forward with its plans to acquire and merge with Caesars Entertainment (NASDAQ: CZR), casino giant Eldorado Resorts (NASDAQ: ERI) announced several major moves today to raise additional cash. The company's deal to merge with Caesars, likely to close this month, amounts to a likely $17.5 billion, and will create America's largest gaming enterprise to date. Today, Eldorado announced it's publicly offering 18 million shares of common stock for sale, with an additional 2.7 million shares optionally available to the offering's underwriters for the next 30 days.

  • Eldorado Resorts to Reopen 5 More Casinos This Month
    Motley Fool

    Eldorado Resorts to Reopen 5 More Casinos This Month

    Barely a week after announcing plans to reopen five Nevada-based casinos early this month, Eldorado Resorts (NASDAQ: ERI) announced even more reopenings this morning. "Eldorado plans to reopen Isle Casino Racing Pompano in Florida on Saturday, June 13, Tropicana Evansville in Indiana on Monday, June 15, Isle Casino Hotel Blackhawk and Lady Luck Casino Blackhawk in Colorado on Wednesday, June 17, and Eldorado Gaming Scioto Downs in Ohio on Friday, June 19," the company announced in a statement. Once these casinos have reopened, a total of 21 of Eldorado's 23 casino properties will be back in business -- 91% of the business.

  • Why Marriott International, Eldorado Resorts, and Carnival Stocks All Fell Today
    Motley Fool

    Why Marriott International, Eldorado Resorts, and Carnival Stocks All Fell Today

    It's been a crazy day in the stock market Wednesday, with the S&P 500 inching only modestly lower but shares of stocks tied to the travel and vacation industry falling off a cliff. At 12:30 p.m. EDT today, shares of hotelier Marriott International (NASDAQ: MAR) are off 3% after being down nearly 7% earlier in the day. Casino operator Eldorado Resorts (NASDAQ: ERI) is sliding 5.1%, and cruise line operator Carnival (NYSE: CUK) (NYSE: CCL) is down a staggering 7.8%.

  • Why Eldorado Resorts Stock Jumped as Much as 13% on June 4
    Motley Fool

    Why Eldorado Resorts Stock Jumped as Much as 13% on June 4

    Investors like the news that Las Vegas is reopen for business, but Eldorado isn't exactly playing it the way you might think.

  • 70% of Eldorado Resorts Casinos Have Reopened
    Motley Fool

    70% of Eldorado Resorts Casinos Have Reopened

    Casino operator Eldorado Resorts (NASDAQ: ERI) announced this morning that it will reopen five casinos today, including Eldorado Resort Casino, Silver Legacy Resort Casino, and Circus Circus Hotel Casino in Reno, Nevada, as well as Lake Tahoe's MontBleu Resort Casino Spa and Tropicana Laughlin in Laughlin, Nevada. The five Nevada-based casinos, when added to the 11 casinos already back open for business, will mean that 16 of the company's 23 casino properties, or 70%, are now back in business. The company says it is "implementing procedures that limit gaming capacity and casino floor occupancy and ensure proper social distancing at its Nevada properties."

  • Why Eldorado Resorts Stock Leaped 65% in May
    Motley Fool

    Why Eldorado Resorts Stock Leaped 65% in May

    Shares of the casino operator were rocking and rolling in May. Here's why investors were so excited.

  • The Zacks Analyst Blog Highlights: MGM, Wynn Resorts, Las Vegas Sands and Eldorado Resorts
    Zacks

    The Zacks Analyst Blog Highlights: MGM, Wynn Resorts, Las Vegas Sands and Eldorado Resorts

    The Zacks Analyst Blog Highlights: MGM, Wynn Resorts, Las Vegas Sands and Eldorado Resorts

  • It May Be Time To Place A Bet On Gambling Stocks
    Zacks

    It May Be Time To Place A Bet On Gambling Stocks

    There is a lot of pent up demand to take risk, and legal gambling is the perfect place to satisfy that desire

  • Why Red Rock Resorts, Eldorado Resorts, and Penn National Gaming Rocketed Out of the Gate on May 20
    Motley Fool

    Why Red Rock Resorts, Eldorado Resorts, and Penn National Gaming Rocketed Out of the Gate on May 20

    Wall Street seems to think better days lie ahead for these casino operators; Red Rock Resorts' earnings call suggests that may be true.

  • Why Red Rock Resorts, Eldorado Resorts, and Penn National Gaming Rose 10% or More Today
    Motley Fool

    Why Red Rock Resorts, Eldorado Resorts, and Penn National Gaming Rose 10% or More Today

    Despite a tough first quarter, casino operators continue to move higher on expectations for a brighter future.

  • Casino giant Caesars’ challenges go far beyond coronavirus and social distancing
    Yahoo Finance

    Casino giant Caesars’ challenges go far beyond coronavirus and social distancing

    Casino giant Caesars’ mountains of debt raises uncertainty about its pending merger with Eldorado (ERI) amid the pandemic, says Dan Wasiolek, senior equity analyst at Morningstar.

  • Company News for May 19, 2020
    Zacks

    Company News for May 19, 2020

    Companies In The News Are: TSLA, AAPL, VIR, ERI.

  • Why Vail Resorts, Eldorado Resorts, and Marriott International Stocks All Popped 10% (or More) Today
    Motley Fool

    Why Vail Resorts, Eldorado Resorts, and Marriott International Stocks All Popped 10% (or More) Today

    As of 11:45 a.m. EDT, shares of mountain skiing specialist Vail Resorts (NYSE: MTN) are climbing 10.8%, hotelier Marriott International (NASDAQ: MAR) is up 13.8%, and casino operator Eldorado Resorts (NASDAQ: ERI) is doing best of all -- gaining 19.5%. This is a slow start -- but at least a start -- to reopening Eldorado Resorts.

  • Gambling Stock Roundup: Las Vegas Sands' Plan Cancellation, Q1 Earnings Releases
    Zacks

    Gambling Stock Roundup: Las Vegas Sands' Plan Cancellation, Q1 Earnings Releases

    Concerns over the coronavirus pandemic continues to hurt the gambling stocks. Moreover, Las Vegas Sands (LVS) abandons its pursuit of Integrated Resort (IR) development in Japan.

  • Implied Volatility Surging for Eldorado Resorts (ERI) Stock Options
    Zacks

    Implied Volatility Surging for Eldorado Resorts (ERI) Stock Options

    Investors need to pay close attention to Eldorado Resorts (ERI) stock based on the movements in the options market lately.

  • Investing.com

    Nomura Sticks to Their Hold Rating for Eldorado Resorts

    Nomura analyst Harry Curtis maintained a Hold rating on Eldorado Resorts (NASDAQ:ERI) on Tuesday, setting a price target of $12.5, which is approximately 39.38% below the present share price of $20.62.

  • Eldorado Resorts (ERI) Q1 2020 Earnings Call Transcript
    Motley Fool

    Eldorado Resorts (ERI) Q1 2020 Earnings Call Transcript

    ERI earnings call for the period ending March 31, 2020.