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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Eldorado to Pay $327M for Riverfront Casino

Reno, NV-based Eldorado Resorts will reportedly acquire one of Chicagoland’s leading casinos, with its $327.5-million deal for the Grand Victoria Casino on the Fox River waterfront in Elgin, IL. The all-cash acquisition is expected to close in the fourth quarter.

Eldorado CEO Gary Carano said the addition of Grand Victoria Casino would “further diversify the geographic reach of our operations, and includes excess contiguous acreage for potential future development.” Tom Reeg, Eldorado’s president and CFO, said there was a “significant opportunity” to improve operations at the casino and lower the acquisition multiple on the property.

The casino features 1,088 slot machines, 30 table games, a 12-table poker room and four dining options. It also offers 7,495 square feet of meeting and banquet space, event and concert facilities, a 1,450-space parking garage and additional surface parking for 600 vehicles.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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