Eldorado Resorts to sell Lake Tahoe property to Maverick Gaming

Eldorado Resorts has entered into a definitive agreement to sell Lake Tahoe, Nevada Montbleu Resort Casino & Spa to Maverick Gaming.

The sale is expected to be completed in the second half of 2020 pending regulatory approvals.

Eldorado is in the midst of divestment ahead of its Caesars merger which should close in the first half of the year. 

Macquaire Capital will serve as a financial advisor for Eldorado in the proposed sale of Montbleu. 

Montbleu includes over 400 hotel rooms, nearly 600 slot machines and and 30 table games. 

Las Vegas-based Maverick Gaming currently owns four Nevada casinos, three in Colorado and 19 card rooms in Washington. 

Eric Persson, majority owner of Maverick Gaming, said: “”With this acquisition we will increase our position in Northern Nevada to five casinos with inventory nearing 1600 hotel rooms, and over 2100 slot machines. We see great opportunity in Northern Nevada and the Reno Tahoe market, and are actively seeking more distribution there.” 

Maverick is also in a pending transaction to purchase the Eldorado Shreveport, which is located a few hours west of Dallas. 

Eldorado plans to sell the Louisiana resort casino for $230m.

Ezra Amacher

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