Investment Thesis
Eldorado Resorts (ERI) has seen its valuation fully collapse this past month, with its shares down more than 60%.
Investors are concerned about the implications of coronavirus, whether Eldorado carries too much debt, and crucially uncertainty over whether it will complete its acquisitions of Caesars Entertainment (CZR).
Timing the bottom will be impossible, but I believe that there is a reasonable margin of safety at less than $2 billion.
(source)
Caesars Entertainment: Will the Acquisition Press Ahead?
Two days ago, Eldorado announced that it was going to