ERI - NetworkNewsBreaks - Eldorado Resorts Inc. (NASDAQ: ERI) Releases Operating Results for Q1 2020
Eldorado Resorts (NASDAQ: ERI) on Monday reported operating results for the first quarter ended March 31, 2020. “Our first quarter operating performance through the end of February 2020 represented a very strong start to the year. For the first two months of 2020, revenues were up 6.6% and adjusted EBITDA was up 24.7%, driving strong margin growth of 390 basis points year over year,” Eldorado Resorts CEO Tom Reeg stated in the news release. “We were encouraged by the strength of the consumer and the pace of revenue growth for this two-month period. However, the strength in January and February was offset by COVID-19 related weakness due to the mandated closure of all our properties by March 18, 2020. As a result, Eldorado generated first quarter same-store net revenues of $473.1 million and EBITDA of $102.5 million, down 17.5% and 33.0% year over year, respectively.”
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About Eldorado Resorts, Inc.
Eldorado Resorts is a leading casino entertainment company that owns and operates twenty-three properties in eleven states, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, New Jersey, and Ohio. In aggregate, Eldorado’s properties feature approximately 23,900 slot machines, VLTs and e-tables and approximately 660 table games, and over 11,300 hotel rooms. For more information, please visit www.EldoradoResorts.com.
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