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ERI - Eldorado Resorts: Bittersweet Is Likely To Close Soon
Caesars Entertainment Inc (New) Com
Investment Thesis
Eldorado Resorts (ERI) delivered the news investors wanted to hear, that the deal with Caesars Entertainment (CZR) is likely to go ahead and complete by the end of June or early July.
And while this sounds awesome on the surface, I question the upside to the company of actually having so much debt, at close to $7 billion, during this very uncertain period.
Even though I was fairly bullish in its prospects up until recently, on second thoughts, I'm staying away from this investment. Here's why: