Eldorado Resorts Enters Into Definitive Agreements to Sell Presque Isle Downs & Casino and Lady Luck Casino Vicksburg to Churchill Downs for $229.5 Mi

Eldorado Resorts, Inc. | March 1, 2018

RENO, Nev. -- Eldorado Resorts, Inc. (NASDAQ: ERI) ("Eldorado" or the "Company") announced today that it entered into definitive agreements to sell substantially all of the assets and liabilities of Presque Isle Downs & Casino in Erie, Pennsylvania and Lady Luck Casino Vicksburg in Vicksburg, Mississippi to Churchill Downs Incorporated (NASDAQ: CHDN). Under the terms of the agreements, Churchill Downs will purchase Presque Isle Downs & Casino for cash consideration of approximately $178.9 million and Lady Luck Casino Vicksburg for cash consideration of approximately $50.6 million, in each case subject to a customary working capi...