Gary Carano, Chairman and Chief Executive Officer of Eldorado, commented, “Our acquisition of Isle of Capri marks a significant milestone in Eldorado’s history of growth through strategic, accretive acquisitions. Eldorado’s expanded property portfolio includes 19 properties in ten states featuring approximately 20,000 slot machines and VLTs, more than 550 table games and over 6,500 hotel rooms. The Isle transaction adds twelve casino–resorts to Eldorado’s portfolio and significantly expands its operational and geographic diversity. The transaction is expected to be immediately accretive to Eldorado’s free cash flow and diluted earnings per share (after giving effect to the identified cost synergies as well as Isle’s recently completed sale of Lady Luck Casino Marquette for $40 million and previously announced divestiture of Isle of Capri Casino Hotel Lake Charles for $134.5 million which is expected to be completed later in 2017).

Following the consummation of the merger, Eldorado has approximately 75.6 million common shares outstanding. Isle of Capri shareholder elections were subject to proration such that the outstanding shares of Isle common stock were exchanged for aggregate consideration comprised of 58% cash, or $552.0 million, with the remaining 42% of the consideration paid to Isle of Capri shareholders in the form of 28.5 million newly issued shares of Eldorado common stock. Pursuant to the terms of the Merger Agreement, Eldorado acquired all of the outstanding shares of Isle of Capri for $23.00 in cash or 1.638 shares of Eldorado common stock, at the election of each Isle of Capri shareholder. The Company’s shares will continue to trade on the NASDAQ Global Select Market under the symbol “ERI.” The combination creates a premiere, diversified regional gaming platform with combined annual revenue of more than $1.7 billion for the year ended Decemfor Eldorado and Janufor Isle and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately $394 million for that period after giving effect to identified cost synergies of approximately $35 million which are expected to be realized over the next four quarters.

(NASDAQ: ISLE) (“Isle of Capri” or 'Isle') in a cash and stock transaction.

(NASDAQ: ERI) (“Eldorado,” “ERI,” or “the Company”) announced today that it completed its previously announced acquisition of Isle of Capri Casinos, Inc. LOUIS-(BUSINESS WIRE)- Eldorado Resorts, Inc. Eldorado’s Premiere Diversified Regional Gaming Platform Expanded to 19 Gaming Facilities in Ten States

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