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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.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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