Eldorado Resorts is to acquire MGM Resorts International’s 50 per cent stake in the Silver Legacy Resort Casino in Reno in the US state of Nevada, as well as all of the assets of Circus Circus Reno, for $72.5m cash.

Silver Legacy Reno Source: Asia Gaming Brief

In addition, ERI, which owns the remaining 50 per cent interest in Silver Legacy, expects to repay approximately $60m that was outstanding on a net debt basis at March 31 under the Silver Legacy credit facility.

Gary Carano, chairman and CEO of Eldorado, said: “The acquisition of these well-established properties represents a significant growth and expansion opportunity for Eldorado and is consistent with our strategy to enhance shareholder value by structuring transactions that are strategically and economically attractive.”

The Silver Legacy is a Nevada mining-themed entertainment complex with more than 1,700 hotel rooms and a 89,000sq.ft gaming floor featuring 1,340 slot machines and 63 table.

Circus Circus Reno has 906 slot machines, 35 table games and 1,571 hotel rooms.

Source: Asia Gaming Brief