the two racinos to offer table games<\/a> six month earlier than previously planned. So far, it\u2019s been a tremendous success for the venues, both of which are less than an hour from Indianapolis.<\/p>\n\u201cWe see significant opportunity at the tracks in Indiana,\u201d he said. \u201cIf you look at the performance to date from the tables, it\u2019s off the charts. It\u2019s obviously early, but they were a capacity constraint there.\u201d<\/p>\n
Earnings, Income Down Compared to Strong 2018 4Q<\/h2>\n
Regarding its earnings, Eldorado reported a total of $592.1 million for its net revenue for the quarter. That marked a 4.4 percent decrease from the 2018 fourth quarter. Operating income for the final three months of 2019 fell by 32.2 percent to $58.9 million.<\/p>\n
However, the company\u2019s adjusted EBITDA rose by .4 percent to $146.2 million.<\/p>\n
Anthony Carano, Eldorado\u2019s president and COO, told analysts the company was pleased with the results, since the 2018 fourth quarter was a highly successful period for the company.<\/p>\n
CFO Bret Yunker said the company paid $388 million on its term loan, bringing the total debt reduction for 2019 to more than $700 million. That will help as the company looks to raise funds to close the Caesars transaction.<\/p>\n
\u201cWe have everything on track to take our committed financing out to market in the coming weeks and\u2026 in light of recent debt issuances in the sector, we are eager to see where that lands in terms of execution relative to our original expectations,\u201d<\/strong> Yunker said.<\/p>\nEldorado stock, listed at NASDAQ, fell $4.22, or 7.6 percent, in Wednesday trading to $51.40.<\/p>\n","protected":false},"excerpt":{"rendered":"
Eldorado Resorts CEO Tom Reeg told analysts Wednesday on the gaming company\u2019s fourth quarter earnings call that all is going well with his company\u2019s planned merger with Caesars Entertainment. Reeg noted that more investors are taking an interest in Eldorado after its $17.3 billion dollar deal with Caesars, which will give the Reno-based company a […]<\/p>\n","protected":false},"author":45,"featured_media":128205,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[],"acf":[],"yoast_head":"\n
Eldorado CEO Reeg Tells Analysts Caesars Deal Will be a 'Home Run'<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n