- Gaming analysts are weighing in on the sale of two casinos by Eldorado Resorts (ERI -3%) to Twin River Holdings (TRWH -4.4%).
- "The deal is modestly deleveraging and another step towards removing potential overhangs from regulatory review for the Caesars transaction as it, in our view, eliminates any potential issues from regulators pertaining to Kansas City market exposures," observes Deutsche Bank analyst Carlo Santarelli.
- Stifel notes the transaction shows the investment community that Twin River is "serious about and capable" of deploying its excess capital to grow through acquisitions.
- The buzz from Wall Street is that Eldorado could divest even more casino assets as it strategically prepares for the acquisition of Caesars Entertainment (CZR -1%)
- Previously: Eldorado to divest Isle of Capri Casino Kansas City and Lady Luck Casino Vicksburg (July 11)