Eldorado Shreveport and Eldorado Resorts Commence Cash Tender Offers and Consent Solicitations

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Eldorado Shreveport and Eldorado Resorts Initiate the Start of a Cash Tender Offer and Consent Solicitation.

Eldorado Shreveport Joint Venture (“Eldorado Shreveport”) today announced that it has commenced a cash tender offer and consent solicitation (the “Shreveport Notes Tender Offer”) for any and all of the $155.6 million in aggregate principal amount of outstanding 10% First Mortgage Notes due 2012 (the “Shreveport Notes”) issued by Eldorado Shreveport and Shreveport Capital Corporation. In addition, Eldorado Resorts LLC (“Eldorado”) announced that it has commenced a cash tender offer and consent solicitation (the “Eldorado Notes Tender Offer” and, together with Shreveport Notes Tender Offer, the “Tender Offers”) for any and all of the $64.5 million in aggregate principal amount of outstanding 9% Senior Notes due 2014 (the “Eldorado Notes”) issued by Eldorado and Eldorado Capital Corp.

The Tender Offers are scheduled to expire at 11:00 a.m., New York City time, on June 14, 2011, unless extended or earlier terminated by Eldorado Shreveport or Eldorado, as applicable. Tendered notes may be withdrawn at any time on or prior to the earlier of (a) 5:00 p.m., New York City time, on May 27, 2011, unless extended or earlier terminated by the Eldorado Shreveport or Eldorado, as applicable (the “Consent Date”) or (ii) the date and time Eldorado Shreveport or Eldorado, as applicable, and the trustee execute the applicable supplemental indenture (the “Withdrawal Time”). Other than as required by applicable law, tendered Shreveport Notes and Eldorado Notes may not be withdrawn after the applicable Withdrawal Time. Holders tendering their Shreveport Notes or Eldorado Notes will be required to consent to certain proposed amendments to the indentures governing the Shreveport Notes or Eldorado Notes, as applicable.

Holders who validly tender (and do not validly withdraw) their Shreveport Notes on or prior to the Consent Date will receive total consideration of $1,010 per $1,000 principal amount of Shreveport Notes, which includes a cash consent payment of $10 per $1,000 principal amount of Shreveport Notes tendered (the “Shreveport Notes Consent Payment”). Holders who validly tender their Shreveport Notes after the Consent Date but prior to the Expiration Date will not be eligible to receive the Shreveport Notes Consent Payment, but will receive tender consideration of $1,000 per $1,000 principal amount of Shreveport Notes tendered. Holders who validly tender (and do not validly withdraw) their Shreveport Notes also will be paid accrued and unpaid interest up to, but not including, the date of payment for such Shreveport Notes (if such Shreveport Notes are accepted for purchase). Holders of approximately $42.6 million of the $124.5 million of currently outstanding Shreveport Notes that are not held by affiliates of Eldorado have agreed to tender their Shreveport Notes into the Shreveport Notes Tender Offer.

Holders who validly tender (and do not validly withdraw) their Eldorado Notes on or prior to the Consent Date will receive total consideration of $951.54 per $1,000 principal amount of Eldorado Notes, which includes a cash consent payment of $10 per $1,000 principal amount of Eldorado Notes tendered (the “Eldorado Notes Consent Payment”). Holders who validly tender their Eldorado Notes after the Consent Date but prior to the Expiration Date will not be eligible to receive the Eldorado Notes Consent Payment, but will receive tender consideration of $941.54 per $1,000 principal amount of Eldorado Notes tendered. Holders who validly tender (and do not validly withdraw) their Eldorado Notes also will be paid accrued and unpaid interest up to, but not including, the date of payment for such Eldorado Notes (if such Eldorado Notes are accepted for purchase). Holders of approximately $55.7 million of $64.5 million of currently outstanding Eldorado Notes have agreed to tender their Eldorado Notes in the Eldorado Notes Tender Offer.

The obligation of Eldorado Shreveport to accept for purchase, and to pay for, Shreveport Notes and consents validly tendered and not validly withdrawn pursuant to the Shreveport Tender Offer is conditioned upon the satisfaction or waiver of certain conditions (including a financing condition) that are described in Eldorado Shreveport’s Offer to Purchase and Consent Solicitation Statement dated May 16, 2011 (the “Shreveport Offer to Purchase”) and the obligation of Eldorado to accept for purchase, and to pay for, Eldorado Notes and consents validly tendered and not validly withdrawn pursuant to the Eldorado Tender Offer is conditioned upon the satisfaction or waiver of certain conditions (including a financing condition) that are described in Eldorado’s Offer to Purchase and Consent Solicitation Statement dated May 16, 2011 (the “Eldorado Offer to Purchase”).

The Company has engaged Merrill Lynch, Pierce, Fenner & Smith Incorporated to act as dealer manager and solicitation agent in connection with the Shreveport Notes Tender Offer. Questions regarding the Shreveport Notes Tender Offer may be directed to Merrill Lynch, Pierce, Fenner & Smith Incorporated at (980) 388-9217 (collect), (888) 292-0070 (US toll-free).

The Company has engaged U.S. Bank National Association as tender agent and depositary in connection with the Eldorado Notes Tender Offer. Questions regarding the Eldorado Notes Tender Offer may be directed to U.S. Bank National Association at (800) 934-6802 (toll-free).

This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any securities. The Shreveport Tender Offer is being made solely pursuant to the respective Shreveport Offer to Purchase and the related letter of transmittal and consent, which set forth the complete terms of the Shreveport Tender Offer. The Eldorado Tender Offer is being made solely pursuant to the respective Eldorado Offer to Purchase and the related letter of transmittal and consent, which set forth the complete terms of the Eldorado Tender Offer.

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 Shreveport Notes Tender Offer and Eldorado Notes Tender Offer. 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, the satisfaction of certain conditions described or referred to herein, including obtaining the financing necessary to satisfy the financing conditions referred to above, financial market risks, general economic conditions, regulatory matters, 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.

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Bob Jones
Eldorado Resorts LLC
(775) 348-9270
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