Eri

[brucefan]

hearing a big block getting done @ .9.5 , then off we go



ELDORADO RESORTS – (ERI) @ $9.32 ==> “BREW BROTHERS” ==> Ready to Open @ SCIOTO on OCTOBER 21st …. As per the : COLUMBUS BUSINESS JOURNAL
​

Oct 13, 2015, 1:26pm EDT “Brew Brothers” – Ready to Open

With Beer Production to follow Soon After

By: Dan Eaton
Central Ohio’s next new brewery will be one of the oldest.
Brew Brothers expects to open Oct. 21st inside the Scioto Downs Racino.
Though new to Columbus, the Brew Brothers brand is 20 years old and has been operating inside a casino in
Reno, Nevada, for the past two decades.

When Eldorado Resorts Inc. (NASDAQ:ERI) acquired Scioto Downs in 2014, it saw an opportunity to create
a second “Brew Brothers” brewpub.
“At some point we knew we would add another restaurant,” racino spokeswoman Ashley Redmon said.
“It was all about finding the right fit. Given the popularity of breweries and craft beer, this made sense to us.”
Though the restaurant is on the verge of opening, it’s going to take a little while longer to get the beer flowing.

Brewmaster, Ryan Torres said the facility is still waiting on its federal manufacturing approval and there’s the normal

few weeks of production time to get its own beer made.
The brewpub is marked outside by a 37-foot-tall grain silo.

It has a 10-barrel system and four fermenters…Expects to make around 1,000 barrels -or- 4 million ounces of micr-brew per year.

The pub will serve up six Brew Brothers beers, toplined by a kolsch and amber.
“We’ll play in the same range of styles,” Torres told me.

“Approachable beers. We’ll have a stout and porter, rotating seasonals. We’re starting with the recipes from Reno, but we’ll have the

freedom to play around.”

Before it has its own beer.. It will be tapping other Ohio craft brewers plus an assortment of bottles and cans.

There aren’t any plans to sell outside the racino either in bottles or cans or with kegs to other bars, but Torres said they will be

involved in the local beer scene and look forward to pouring at events around the city.
“We want to get out to the festivals, get our name out there,” he said.
Torres joined Brew Brothers after almost three years at Barley’s Brewing Co. where he worked under Brewmaster Angelo Signorino.

The $5.9 million dollar “Brew Browthers”… Is a 10,000-square-foot brewpub that is part of an overall $9.5 million expansion
of the Scioto Downs facility.

The restaurant will seat around 250… Including 80 people on the outdoor patio.
Redmon said the menu will be pub fare… Wood-fired pizzas, burgers, sandwiches, fish and chips, entree salads…

It will also offer heartier dishes like ribs and a sirloin steaks, which are expected to be popular.

The space has a stage and will host live music Thursday through Saturday. Wednesday night will be live band karaoke night.

Other events will be scheduled for Mondays and Tuesdays.
REFERENCE LINK:
http://goo.gl/Dbm6D3

 

[Steiner69eR]

Good stuff, thanks for the update.

BTW, is the username a reference to The Boss?

 

[brucefan]

Your welcome, and yes !

 

[brucefan]

Shorts floating old rumors of a secondary . Hard to imagine at these prices, but stock down on light volume and touching bottom Bollinger band. Maybe shorts are nervous before earnings ? we will see

 

[brucefan]

Eldorado Resorts and Vista Host, Inc. Establish Joint Venture to Develop Hotel at Scioto Downs Racino in Columbus, OH

Check out: http://www.benzinga.com/news/15/10/...establish-joint-venture-to-develop-hotel-at-s.

For more financial news and trade ideas, check out http://benzinga.com.

 

[brucefan]

Looks like they just walked it down to take out the retail stops

Earn. Monday after the close Volume back up, need to clear 9. 5

MCRI Blew away their number, all from Reno Monarch Casino tops Street 3Q forecastsAP(Thu, Oct 22)

Monarch Casino & Resort Inc. (MCRI)

-NasdaqGS

19.30

1.30(7.22%) 1:28PM EDT - Nasdaq Real Time Price

 

[brucefan]

Wall St Consensus
EPS . 10

REV 186.47
https://www.estimize.com/eri/fq3-2015?utm_content=prerelease&utm_medium=tweet&utm_source=twitter

 

[brucefan]

Eldorado Resorts posts 3Q profit

Eldorado Resorts posts profit of $3.3 million in 3rd quarter

RENO, Nev. (AP) _ Eldorado Resorts Inc. (ERI) on Monday reported third-quarter net income of $3.3 million, after reporting a loss in the same period a year earlier.
The Reno, Nevada-based company said it had net income of 7 cents per share. Earnings, adjusted to extinguish debt, were 12 cents per share.
The casino and resort operator posted revenue of $183.5 million in the period.
Eldorado Resorts shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.22, more than doubling in the last 12 months.http://finance.yahoo.com/news/eldorado-resorts-posts-3q-profit-204333919.html

 

[brucefan]

Eldorado Resorts Reports Third Quarter Net Revenue of $183.5 Million and Adjusted EBITDA of $36.1 Million


http://finance.yahoo.com/news/eldorado-resorts-reports-third-quarter-200500401.html

 

[brucefan]

Eldorado Resorts Stock Will Benefit From Reno's Transformation




By Oliver Rheinfurth Follow | 10/28/15 - 01:28 PM EDT


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The Wall Street Journal recently profiled how the city of Reno, Nev., long known for its casinos, is striving to become a high-tech manufacturing center. Investors looking to profit from the transformation and growth of the "Biggest Little City in the World" should consider Eldorado Resorts (ERI - Get Report) .
True, Eldorado Resorts is about as traditional Reno as it gets; it's a casino entertainment company. But as companies such as Tesla (TSLA - Get Report) are drawn by low taxes to build manufacturing facilities in Reno, they will boost employment in the city and create a "wealth effect" that will spill over and benefit local casino resorts.






ERI data by YCharts
Must Read: 2 Dow Stocks Poised for an Immediate Dividend Jump
This week Eldorado reported third-quarter financial results. Although adjusted earnings were only 7 cents, vs. the average analyst estimate of 11 cents, Eldorado's recently acquired Silver Legacy and Circus Circus Reno businesses were not included, because their purchase won't be complete until next month. And although revenue and earnings were down in the company's West Virginia businesses, the growth in Reno was the real star. Consider that West Virginia taxes gaming revenue at between 35%-49% and Nevada taxes it at only 12%. In which state would you prefer to have the growth?
There were also one-time charges for the refinancing of debt which reduced Eldorado Resort's interest expense from $80 million a year to $45 million a year. The full effects of the refinancing will be realized in the next reported quarter.
A competitor, Isle of Capri Casinos (ISLE - Get Report) , saw its stock rally to $21 from $14 in just a few weeks after it refinanced its debt. The same thing could happen to Eldorado Resorts.

When a previous article on Eldorado Resorts was published in April, the stock was trading at just under $7. The article said the stock would rise to double digits. It did just that four months later, topping the charts at $10.04 in mid-August. In the last two months the stock has been consolidating and closed Tuesday at $9.13.

On the conference call following the earnings release, the company reported that trailing-12-month earnings before interest, taxes, depreciation and amortization of $160 million. If you back out the $45 million in interest expense and the $35 million in capital expenditures, you are left with $80 million in free cash flow. Dividing the free cash flow by 46.5 million shares outstanding leaves $1.72 in free cash flow per share. Tuesday's closing price of $9.13 divided by the $1.72 computes to just over 5.3 times free cash flow. Compare that to the industry, which trades at close to 15 times. By these metrics, Eldorado Resorts is still extremely undervalued.
Continue to follow the growth story that is Reno, as well as one of the only publicly traded ways to get exposure to it: Eldorado Resorts.




This article is commentary by an independent contributor. At the time of publication, the author held a long position in ERI.

 

[brucefan]

Well, the break thru 9.5 came , and so did a nice push on volume

sellers tried to knock us back when we were over 10 but stock looks poised now for much higher prices

should be good for Eri

Nevada gaming revenue rises 1.5 percent in September


http://www.reviewjournal.com/busine...ada-gaming-revenue-rises-15-percent-september

About Eldorado Resorts, Inc.
Eldorado Resorts is a casino entertainment company that owns and operates six properties in five states, including the Eldorado Resort Casino and the Silver Legacy Resort Casino (a 50/50 joint venture with MGM Resorts International) in Reno, NV; the Eldorado Resort Casino in Shreveport, LA; Scioto Downs Racino in Columbus, OH; Mountaineer Casino Racetrack & Resort in Chester, WV; and Presque Isle Downs & Casino in Erie, PA.Eldorado Resorts recently announced that it has entered into an agreement to acquire MGM Resorts International’s 50% interest in the Silver Legacy Resort Casino Reno, as well as all of the assets of Circus Circus Reno with the transaction expected to be completed by year-end 2015, subject to the receipt of required gaming approvals.
Investor Contact:
Thomas Reeg
President
Eldorado Resorts, Inc.
775/328-0112
investorrelations@eldoradoresorts.com
For more information, please visit: www.eldoradoresorts.com

 

[brucefan]

ERI revised it’s most recent quarterly earnings higher which would have surpassed expectations.

Form 8-K/A for ELDORADO RESORTS, INC.

---

9-Nov-2015
Results of Operations and Financial Condition, Financial Statements and
Item 2.02. Results of Operations and Financial Condition.On October 26, 2015, Eldorado Resorts, Inc. (the “Company”) issued a press release, with financial information and schedules, announcing results for the third fiscal quarter ended September 30, 2015 (the “Press Release”). A copy of the Press Release was furnished as Exhibit 99.1 to a Current Report on Form 8-K filed by the Company with the U.S. Securities and Exchange Commission on October 26, 2015. Subsequent to the issuance of the Press Release and as part of completing its financial statement close process for its Form 10-Q, the Company determined that it incorrectly reported net income and net income per share of common stock for the three and nine month periods ended September 30, 2015. Specifically, in connection with a refinancing transaction consummated in July 2015, the Company misinterpreted the procedural and assessment calculation guidance related to Accounting Standards Codification (“ASC”) 470, Debt-Modifications and Extinguishments. This resulted in the Company mischaracterizing a portion of the transaction costs associated with the refinanced debt during the quarter ended September 30, 2015. The Company originally reported net income of $3,334,000 and $1,965,000, and net income per share of common stock as $0.07 and $0.04 for the three and nine months ended September 30, 2015, respectively. After correcting the error, the Company’s net income was $5,399,000 and $4,030,000, and net income per share of common stock was $0.12 and $0.09 for the three and nine months ended September 30, 2015, respectively.
Attached hereto as Exhibit 99.1 is an amended copy of the financial tables to the Press Release with the corrected net income and net income per share of common stock information, as well as corresponding adjustments to the reconciliation of GAAP to non-GAAP financial information. In addition, the correction of the error resulted in certain adjustments to the Company’s unaudited consolidated statements of operations for the three and nine months ended September 30, 2015 as well as the Company’s consolidated balance sheets as of September 30, 2015, which adjustments are reflected in Exhibit 99.1 attached hereto. No other changes were made to the financial tables to the Press Release.
The Company will make the same corrections to the version of the Press Release available on its website.
The information in this Current Report on Form 8-K/A and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

 

[brucefan]

slow erosion of the stock price on low volume, back to support . Lots waiting for a solid green bar to get us going again. Ill be ready

Index	-	P/E	-	EPS (ttm)	-0.19	Insider Own	0.50%	Shs Outstand	46.44M	Perf Week	-10.48%
Market Cap	404.49M	Forward P/E	12.62	EPS next Y	0.69	Insider Trans	237.26%	Shs Float	23.13M	Perf Month	-4.07%
Income	-9.00M	PEG	-	EPS next Q	0.00	Inst Own	37.90%	Short Float	3.83%	Perf Quarter	-10.21%

 

[brucefan]

I think next week we head up

Short term target still 11-12, longer term low twenties




Eldorado Resorts gets final OK to take control of two MGM casinos in Reno

Eldorado Resorts Inc. today received the final blessing of state regulators to take over MGM Resorts International’s ownership of two Reno casinos.
The Nevada Gaming Commission approved Eldorado Resorts’ purchase of Circus Circus Reno and half of the Silver Legacy, both of which it is acquiring from MGM Resorts. Eldorado Resorts already owns the other half of the Silver Legacy.
When the sale was first announced in July, Eldorado Resorts said it would pay $72.5 million in cash. The Northern Nevada company owns casinos in Reno, Louisiana, Pennsylvania, Ohio and West Virginia.
The company already owns the Eldorado Reno casino, which is physically connected to Circus Circus and the Silver Legacy via pedestrian bridges. Owning all three makes Eldorado Resorts the dominant casino company in the region.
Thomas Reeg, the president of Eldorado Resorts, told commissioners that the Reno gaming market is on the rebound.
“Reno has been on fire from our standpoint,” he said. “We’re very excited about the timing of when we combine these assets.”
The company is controlled by members of the Carano family. Gene Carano, the senior vice president of operations, said Eldorado Resorts was proud to bring Circus Circus Reno into its portfolio of properties and plans to invest there.
In addition to expanding Eldorado Resorts’ business interests in Reno, the deal also advances moves MGM Resorts has made to sell some properties it acquired when its predecessor, MGM Mirage, bought Mandalay Resort Group in 2005. MGM Resorts previously sold the Railroad Pass in Henderson and the Gold Strike in Jean.

Section: Gaming

 

[brucefan]

RENO, Nev.--(BUSINESS WIRE)--



Eldorado Resorts, Inc. (ERI) (“Eldorado,” “ERI,” or “the Company”) announced today that it completed the previously announced purchase of MGM Resorts International’s (MGM) 50 percent interest in the Silver Legacy Resort Casino Reno, as well as the assets of Circus Circus Reno, for total consideration of $72.5 million cash plus a working capital adjustment. In addition, ERI repaid the entire outstanding balance of the Silver Legacy credit facility, which amounted to approximately $52.6 million on a net debt basis. The transaction was financed with cash on hand, cash from the escrow account established at the time of the Company’s July financings and borrowings under the Company’s revolving credit facility. As a result, Eldorado has withdrawn its registration statement relating to a proposed common stock offering, the proceeds of which were intended to pay a portion of the purchase price for the Circus Circus Reno and 50% interest in the Silver Legacy joint venture.
“The addition of Silver Legacy and Circus Circus Reno to our operations is consistent with our strategy to enhance shareholder value by pursuing strategically and economically attractive transactions,” said Gary Carano, Chairman and Chief Executive Officer of Eldorado. “We are very excited to welcome the Silver Legacy and Circus Circus Reno employees to the Eldorado family at a time when the Reno gaming market and the northern Nevada economy is prospering. Our experience integrating the MTR operations and the talent of our operating teams across Reno’s three leading downtown casino resorts will serve us well as we welcome Silver Legacy and Circus Circus Reno into our operating base.”
Tom Reeg, President of Eldorado, added, “The transaction is immediately accretive to our free cash flow and strengthens our position in the Reno market where gross gaming revenues are up more than 3.5% year-over-year through September. We expect to realize significant cost and revenue synergies with the tri-properties now under common ownership. After careful review of our financing options, we chose to fund the final piece of the transaction with existing revolver capacity, in lieu of an equity offering. Based on the continued strength of our operations, we expect that we will reach our pro forma leverage target of less than five times EBITDA in the first half of 2016.”
The transaction increases Eldorado’s property portfolio to seven wholly-owned and operated facilities in five markets with a total of approximately 10,230 slot machines and VLTs, approximately 300 table games, approximately 4,850 hotel rooms, approximately 35 dining, bar and entertainment options, three pari-mutuel racing facilities and approximately 8,000 team members.
The Silver Legacy is a Nevada mining themed hotel-casino and entertainment complex which features an approximately 89,200-square foot gaming floor with 1,302 slot machines, 63 table games, 1,711 hotel rooms, including 141 player suites, eight penthouse suites and seven hospitality suites, a 50,000 square foot convention center, a race and sports book, two fine dining restaurants, a buffet, food court and four casual dining restaurants. Circus Circus Reno is an iconic circus-themed hotel-casino and entertainment complex which features an approximately 56,000-square foot gaming floor with 908 slot machines, 33 table games, 1,571 hotel rooms, including 67 mini suites, four executive suites and four VIP suites, a sportsbook, two fine dining restaurants, a buffet and three casual dining restaurants. Circus Circus Reno also has a Midway featuring a total of 158 games and a full service wedding chapel with reception services for groups of 25 or more. Silver Legacy, Circus Circus Reno and Eldorado Reno are seamlessly connected by a 200-foot skyway corridor.

• ELDORADO RESORTS, INC. Files SEC form 8-K, Completion of Acquisition or Disposition of Assets, Unregistered Sale of E EDGAR Online 32 mins ago
• ELDORADO RESORTS, INC. Files SEC form 8-K/A, Results of Operations and Financial Condition, Financial Statements and EDGAR Online 14 days ago

More









About Eldorado Resorts, Inc.
Eldorado Resorts is a casino entertainment company that owns and operates seven properties in five states, including the Eldorado Resort Casino, the Silver Legacy Resort Casino and Circus Circus in Reno, NV; the Eldorado Resort Casino in Shreveport, LA; Scioto Downs Racino in Columbus, OH; Mountaineer Casino Racetrack & Resort in Chester, WV; and Presque Isle Downs & Casino in Erie, PA. For more information, please visit www.eldoradoresorts.com.

 

[brucefan]

Nice day today closing @9.79 up 53 cents , almost 5.75%

Still hearing there should be some good firms initiating coverage with some strong buy recommendations

Should back over 10 next week, and make a run at 11

 

[brucefan]

Eldorado Resorts climbed 6%. Investors continued to bid up shares following the casino operator's acquisition of the assets of Circus Circus Reno and the 50% interest in the Silver Legacy Resort Casino Reno venture that MGM Resorts owned. The northern Nevada company is enthusiastic about the prospects for the local economy in the Reno area, and the acquisition further cements Eldorado's presence in Nevada. With other properties in Louisiana, Ohio, West Virginia, and Pennsylvania, Eldorado has benefited from the recent trend toward domestic gaming company stocks. As long as weakness in the Asian gaming capital of Macau holds back performance among the casino industry's giants, stocks like Eldorado could keep seeing interest from those seeking to profit from a strong U.S. economy.http://www.fool.com/investing/gener...ce=yahoo&utm_medium=feed&utm_campaign=article

 

[brucefan]

Eldorado Resorts, Inc. breached its 50 day moving average in a Bullish Manner : November 30, 2015 http://www.capitalcube.com/blog/ind...average-in-a-bullish-manner-november-30-2015/

 

[brucefan]

ERI will be presenting.

• UPCOMING EVENTS
• PAST EVENTS

• Thursday, December 3, 2015 - Thursday, December 3, 2015
  WELLS FARGO 4TH ANNUAL BOSTON GAMING FORUM[FONT=klinic_slabbold]
  [FONT=crimson_textroman]Conference Ends:[/FONT]​
  [/FONT][FONT=klinic_slabbold][FONT=crimson_textroman]12/3/2015[/FONT]
  [/FONT]
  [FONT=klinic_slabbold]
  [FONT=crimson_textroman]Conference:[/FONT]​
  [FONT=crimson_textroman]Wells Fargo 4th Annual Boston Gaming Forum[/FONT]
  [/FONT]
  [FONT=klinic_slabbold]
  [FONT=crimson_textroman]Website:[/FONT]​
  [FONT=crimson_textroman]https://elink.wellsfargo.com/iconference/Custom/List/121?menuItemId=11[/FONT]
  [/FONT]
  [FONT=klinic_slabbold]
  [FONT=crimson_textroman]Host Company:[/FONT]​
  [FONT=crimson_textroman]Wells Fargo Securities LLC[/FONT]
  [/FONT]
  [FONT=klinic_slabbold]
  [FONT=crimson_textroman]Conference Type:[/FONT]​
  [FONT=crimson_textroman]Investor[/FONT]
  [/FONT]
  [FONT=klinic_slabbold]
  [FONT=crimson_textroman]Location:[/FONT]​
  [FONT=crimson_textroman]
  
  • Langham Ho
  [/FONT][/FONT][FONT=klinic_slabbold]
  
  [/FONT]
  
  

 

[brucefan]

Eldorado Resorts: An Evolving Growth Story

By Jermaine DupreeDecember 1, 2015EconomyNo Comments

0 1 0 0


Summary

Closing of an immediately accretive acquisition.
Withdrawing the equity registration.
Positive restatement of reported net income.
Potential brokerage recommendations.



Acquisition:

On November 24, Eldorado Resorts, Inc. (NASDAQ:ERI) completed the acquisition of MGM’s 50% interest in the Silver Legacy Resort Casino Reno as well as all the assets of the Circus Circus Reno, for total consideration of $72.5 million cash plus a working capital adjustment. The transaction was financed with cash on hand, cash from the escrow account established at the time of ERI’s July financing, and borrowings under the Company’s revolving credit facility.
The acquisition gives ERI control over nearly 32% of all the Reno market hotel rooms. The Silver Legacy features an approximately 89,200 square foot gaming floor with 1,302 slot machines, 63 table games, 1,711 hotel rooms, and a 50,000 square foot convention center. Circus Circus sports a 56,000 square foot gaming floor with 908 slots, 33 table games, and 1,571 hotel rooms. Silver Legacy, Circus Circus and Eldorado Reno are seamlessly connected by a 200 foot skyway corridor.
Withdrawal of Equity Registration:

As a result of using the credit facility to finance the acquisition, also on November 24, ERI withdrew its equity registration. I had mentioned this likelihood in the comments section of a previous ERI article. In looking at the chart below, it appears that some investors sold shares in the anticipation of an equity raise which would have diluted existing shareholders. Now that the registration has been withdrawn, shares have rebounded significantly.
(click to enlarge)

Positive Restatement of Net Income:

On October 26, ERI originally reported net income of $3,334,000 or $0.07 per share for the three months ending September 30, 2015.
Subsequent to the issuance of the press release, ERI determined that it mis-characterized a portion of the transaction costs associated with the debt refinanced in July. On November 9, ERI filed a Form 8-K/A to correctly restate both its net income and earnings per share to $5,399,000 and $0.12 for the same time period respectively.
Cost and Revenue Synergies:

Eldorado mentioned on its last earnings call that it was in the middle of a company-wide $10 million cost reduction project. My contention is there will be much more cost reduction opportunities in the way of duplicative services now with the addition of two new Reno properties. I’m certain head count will be reduced considerably. Revenue synergies could be generated by incentives for cross play.
Potential Brokerage Recommendations:

My contention is that brokers were not willing to recommend ERI with a potentially dilutive equity raise still hanging in the balance (prior to the announced financing of the recently closed acquisition). With the equity registration now withdrawn, I believe this removes any obstacle for brokerages to recommend the stock. I would expect recommendations to come in relatively soon with price targets in the $16-18 range with the upside as high as $20.
Ongoing Challenges:

Of course, Eldorado is also comprised of some underperforming properties as well. Competition and a newly instituted (July 1, 2015) smoking ban has impacted revenues and profits at Mountaineer in West Virginia. However, Eldorado has taken steps to, at the very least, stem the negative tide by installing an enclosed smoking patio.
Besides West Virginia taxes gaming revenues at prohibitively high rates between 35-49% whereas Nevada only taxes gaming revenues in the 12% area. Eldorado is growing in Reno, that’s exactly where you want the growth coming from if you are an investor.