Eldorado Resorts Announces Proposed Offering of Senior Secured Notes

Share Article

Eldorado Resorts Announced Intention to Offer Aggregate Principal Amount of Senior Secured Notes in a Private Placement

Eldorado Resorts LLC (the “Company”) today announced that it intends to offer $180,000,000 aggregate principal amount of senior secured notes due 2019 (the “Notes”) in a private placement.

The net proceeds from the sale of the Notes, together with borrowings under a new credit facility and cash on hand, will be used (i) to purchase or otherwise redeem or retire all of the outstanding 10% First Mortgage Notes due 2012 (the “Shreveport Notes”) issued by the Company’s subsidiary Eldorado Casino Shreveport Joint Venture (the “Louisiana Partnership”) and Shreveport Capital Corporation, (ii) purchase all or a portion of the Company’s 9% Senior Notes due 2014 (the “Eldorado Notes”), (iii) pay all amounts required to retire the outstanding preferred interests in the Louisiana Partnership and (iv) pay fees and expenses related to such refinancing transactions.

The Notes will be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside the United States in accordance with Regulation S under the Securities Act and applicable exemptions from registration, prospectus or like requirements under the laws and regulations of the relevant jurisdictions outside the United States. The Notes will not be registered under the Securities Act and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes referred to above will also not be registered in any jurisdiction outside of the United States and no action or steps will be taken to permit the offer of the Notes in any such jurisdiction where any registration or other action or steps would be required to permit an offer of the Notes. The Notes may therefore not be offered or sold in any such jurisdiction except pursuant to an exemption from, or in a transaction not subject to, the relevant requirements of laws and regulations of such jurisdictions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities of the Company, nor shall there be any offer, solicitation or sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

About Eldorado Resorts
Eldorado Resorts LLC owns and operates the Eldorado Shreveport Hotel and Casino, a Las Vegas-style resort and dockside casino complex in Shreveport, Louisiana, and Eldorado Hotel and Casino, a premier hotel and casino facility in Reno, Nevada.

This press release contains certain forward-looking statements with respect to the offering of the Notes and the refinancing transactions described herein. Such statements are subject to a number of risks and uncertainties that could cause the statements made to be incorrect and/or for actual results to differ materially. Those risks and uncertainties include, but are not limited to, financial market risks, general economic conditions, receipt of required regulatory approvals, our ability to refinance our indebtedness and other factors described in periodic reports furnished to the holders of the Shreveport Notes and Eldorado Notes . The Company does not intend to update publicly any forward-looking statements, except as may be required by law.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Bob Jones
Eldorado Resorts LLC
(775) 348-9270
Email >