Eldorado to Acquire Neighboring Casinos in Reno

by Bob Johnson 0

ElDorado1The Carano family has been a good friend of the bowling industry for years, helping to make the building of the National Bowling Stadium in Reno a reality.

Now, a deal is in place for the Carano-controlled Eldorado Resorts Inc. to acquire full ownership of the two resorts with which its Eldorado Hotel is connected by skyway: the Silver Legacy and Circus Circus.

MGM Resorts is selling its 50 percent stake in those two properties to Eldorado Resorts for a reported $72.5 million. The deal signals MGM’s exit from the northern Nevada casino industry.

In a media release, Gary Carano, Chairman and Chief Executive Officer of Eldorado, commented, “The acquisition of these well-established properties represents a significant growth and expansion opportunity for Eldorado and is consistent with our strategy to enhance shareholder value by structuring transactions that are strategically and economically attractive. The acquisition is expected to be accretive to our operating results upon closing, builds the critical mass of our gaming operations, and fortifies our position in the increasingly attractive Reno gaming market.”

Carano added, “With the acquisition of Silver Legacy and Circus Circus Reno, we continue to execute our long-term plan for expansion. Upon completing the transaction, we will own the three leading downtown Reno casino resorts at a time when the Reno market and the surrounding region is recovering and attracting new businesses that should drive long-term economic support. I’m confident that the talent of our operating team, our understanding of the market — and long-term success in Reno — and our company-wide focus on excellence in guest service, combined with the market-leading amenities offered by Eldorado Reno, Silver Legacy and Circus Circus Reno, will position our company as a premier provider of casino gaming, entertainment, food and beverage and hospitality offerings in the Reno market.”

The Silver Legacy is a Nevada mining themed hotel-casino and entertainment complex which features an approximately 89,200-square-foot gaming floor with 1,340 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 906 slot machines, 35 table games, 1,571 hotel rooms (including 67 mini suites, four executive suites and four VIP suites), a sports book, 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 the Eldorado property are seamlessly connected by a 200-foot-wide skyway corridor.

When the PBA needed a new home to host its World Series of Bowling VII in order to take advantage of a live, weekday, prime-time telecast slot offered by ESPN, the Silver Legacy stepped up as a presenting sponsor, making the move from the South Point Bowling Plaza in Las Vegas to Reno’s National Bowling Stadium possible.

Reno and the Stadium will continue to host multiple United States Bowling Congress national tournaments well into the future.

Bob Johnson

Bob Johnson has received more national writing awards than any other bowling writer — close to 70 over the course of his 40-year career. He began at age 16 as a staff writer and then assistant editor for the weekly Pacific Bowler newspaper in his native California, and within three years was writing feature stories for Bowlers Journal. He has written for the magazine ever since, except for a five-year span when he was hired as the founding editor of another magazine. He moved to Chicago in 2000 and spent 13 years in the Windy City, including five as Bowlers Journal’s Editor. In 1975, Johnson received the Robert E. Kennedy Award as California’s top undergraduate high school journalist. Five years earlier, on the lanes, he had shared the Bantam Division Doubles championship in the Orange County Junior Bowling Association Championships. Today, he continues to work full-time for Bowlers Journal as its Senior Editor, to write his popular “Strikes Me” column, and to edit Luby Publishing Inc.’s weekly business-to-business Cyber Report.

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