{"id":11842,"date":"2016-09-19T12:02:43","date_gmt":"2016-09-19T12:02:43","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=11842"},"modified":"2016-09-19T12:02:43","modified_gmt":"2016-09-19T12:02:43","slug":"eldorado-resorts-to-buy-isle-of-capri-casinos-for-about-950-million","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/eldorado-resorts-to-buy-isle-of-capri-casinos-for-about-950-million.html","title":{"rendered":"Eldorado Resorts To Buy Isle of Capri Casinos for About $950 Million"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><span style=\"font-size: 14pt;\"><strong><span style=\"color: #000000; font-family: Arial,Helvetica,sans-serif;\">Eldorado Resorts To Buy Isle of Capri Casinos for About $950 Million<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-size: 12pt; font-family: Arial,Helvetica,sans-serif;\"><strong>Eldorado Resorts To Buy Isle of Capri Casinos for About $950 Million<\/strong> : Eldorado Resorts Inc. on Monday said it agreed to buy fellow casino operator Isle of Capri Casinos Inc. for about $950 million in cash and stock in a deal that more than doubles the number of gaming locations Eldorado operates.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 12pt; font-family: Arial,Helvetica,sans-serif;\">The deal values Isle of Capri at $23 a share, a 36% premium over Friday\u2019s closing price. Eldorado said it would pay 58% of the purchase price in cash and 42% in stock.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 12pt; font-family: Arial,Helvetica,sans-serif;\">Isle of Capri shares rose 29% in premarket trading, while Eldorado shares climbed 8.6%.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 12pt; font-family: Arial,Helvetica,sans-serif;\">The combined company will have 20 properties in 10 states and would have generated about $1.8 billion in revenue for the 12 months ended in June.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 12pt; font-family: Arial,Helvetica,sans-serif;\">The deal is expected to close in the second quarter of 2017. Certain large stockholders of Eldorado and Isle of Capri have signed agreements to vote in favor of the transaction.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 12pt; font-family: Arial,Helvetica,sans-serif;\">Eldorado shareholders will own 62% of the combined company, while Isle of Capri shareholders will hold 38%.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 12pt; font-family: Arial,Helvetica,sans-serif;\">Eldorado said it received committed financing for the transaction totaling $2.1 billion from J.P. Morgan Chase &amp; Co.<\/span><\/p>\n<p><span style=\"color: #000000; font-size: 8pt; font-family: Arial,Helvetica,sans-serif;\"><strong>Source<\/strong> : http:\/\/www.wsj.com\/articles\/eldorado-resorts-to-buy-isle-of-capri-casinos-for-about-950-million-1474284562<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/eldorado-resorts-to-buy-isle-of-capri-casinos-for-about-950-million.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Eldorado Resorts To Buy Isle of Capri Casinos for About $950 Million Eldorado Resorts To Buy Isle of Capri Casinos for About $950 Million : Eldorado Resorts Inc. on Monday said it agreed to buy fellow casino operator Isle of Capri Casinos Inc. for about $950 million in cash and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[6906,6911,6907,6908,6909,6912,6910],"class_list":["post-11842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-casino-deal","tag-casino-hotels","tag-casino-merger","tag-eldorado-resorts","tag-eldorado-to-buy-isle-of-capri","tag-gambling-industries","tag-isle-of-capri-casinos"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/11842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=11842"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/11842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/11843"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=11842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=11842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=11842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}