Eldorado Resorts, Inc. said in a release it intends to file a registration statement relating to an underwritten offering of common stock to generate aggregate net proceeds of approximately $60 million, prior to the exercise of the underwriters’ option to purchase additional shares. The number of shares sold in the offering, if any, will be subject to market conditions.
Eldorado intends to apply the proceeds from the Common Stock Offering to pay a portion of the purchase price for the purchase of all of the assets of Circus Circus Reno and the 50 percent interest in the Silver Legacy joint venture that is currently owned by a subsidiary of MGM Resorts International, including repayment of amounts outstanding under the Silver Legacy Joint Venture credit facility and pay fees and costs associated with such transactions.
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