RENO, Nev., Sept. 26, 2016 /PRNewswire/ -- Eldorado
Resorts, Inc. (NASDAQ: ERI) ("Eldorado," "ERI," or "the Company") announced
today that it expects to invest more than $50 million in facility enhancements to Eldorado
Reno, Silver Legacy and Circus Circus Reno. Eldorado's master plan for the three connected
properties, which span eight city blocks in downtown Reno, will be phased over three years,
commencing in the fourth quarter of 2016. In addition to the
renovation of over 4,100 guest rooms, each of the three resorts
will introduce new restaurant concepts, reinvigorated nightlife and
resort amenities, including a new full service Luxury Spa, creating
a new standard of lodging in the city. The Reno properties' upgrade announcement comes on
the heels of the company's recent agreement to acquire Isle of
Capri Casinos, which, upon closing, will significantly diversify
Eldorado's operations
geographically and financially.
Experience the interactive Multimedia News Release here:
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Reno is experiencing a strong
economic upturn and a travel, tourism and cultural renaissance with
healthy year-over-year growth. Expanded airline service to and from
Reno combined with improvements in
housing values, higher employment rates, increased recreational
activities, an emerging food and art scene, as well as a variety of
year-round cultural events, has created extraordinary excitement
for both locals and tourists in the destination. In addition to
Reno's strong ties to gaming,
entertainment and tourism, the city's attractive economic
environment is drawing diversified commerce with leading data
centers, startups, technology, clean energy and healthcare
companies moving their businesses and adding employees to the
region.
"Downtown Reno's renaissance
and re-emergence as a vibrant growing economy has been remarkable
and as the leading gaming and lodging operator in the market
Eldorado Resorts has and will continue to benefit from the
increased economic, tourist and local activity," said Gary Carano, Chairman and Chief Executive
Officer of Eldorado. "Eldorado is a legacy operator in the market,
having owned and operated Eldorado Reno since 1973. We
acquired the remaining 50 percent interest in the Silver Legacy
Resort Casino Reno, as well as all of the assets of Circus Circus
Reno last summer based on our extensive knowledge of the
Reno market and the surrounding
region and the emerging recovery which is attracting new businesses
that are catalyzing long-term economic support. Since then,
we have undertaken detailed analysis and design work to develop a
comprehensive master plan for our Reno Tri-properties focused on
significantly elevating the gaming, entertainment, food and
beverage and other amenities we bring to guests with a concurrent
focus on generating an attractive return on our investment.
The master plan and $50 million
investment announced today will allow us to further integrate the
guest experience among our three connected properties to deliver an
enhanced and seamless luxury resort environment for our valued
guests. We are excited to be starting construction later this
year which will also contribute to the market's employment and
economic strength and believe that all of our constituents,
including guests, employees, shareholders and the local market will
benefit from our strengthened Reno
operations."
Highlights of the reinvestment for Eldorado's Reno Tri-properties include:
Eldorado Reno
Guestrooms
Influenced by the opulence of Eldorado, the mythical South American City of
Gold, the design of new guestrooms at Eldorado Resort Casino
reflects a refined and luxurious aesthetic. From elegant walls that
feature a large abstract floral pattern to muted wall tones,
punctuated by furnishings in walnut woods with gold accents, each
room will offer a distinguished guest experience, which continues
into the bathrooms, where new vanities, lighted mirrors, flooring
and showers will create a spa-like setting.
Luxury Spa
Creating a game-changing two-floor
experience, Eldorado's serene and
all-new spa will offer a world-class, 20,000 square-foot healing
sanctuary featuring indoor and outdoor spaces, including a rooftop
pool. Embodying a Zen Tahoe-style atmosphere that celebrates
fitness, wellness and tranquility, the contemporary full-service
spa will be in partnership with renowned designers Trilogy Spa
Holdings.
Food & Beverage
- Bar Centro
Bar Centro is the center of the action for downtown nightlife.
Upgrades for the chic ultra-lounge, offering hand crafted cocktails
and nightly drink specials, will feature additional seating, a
larger dance floor, and an island bar that dazzles with a stunning
rectangular chandelier. Glistening with fuchsia and amethyst offset
by silver and pearl accents, Bar Centro is the place to see and be
seen for happy hour, drinks with friends or a late night on the
town.
- Hidden Pizza
New York-style pizza arrives at
Eldorado Reno with the debut of Hidden Pizza this fall. Tucked into
a corner of the second floor across from The Brew Brothers, Hidden
Pizza will offer fresh pizza by the slice starting at 5:00 p.m. and available through the late night.
The after-hours crowd looking for that perfect fourth meal will
love the convenience of by-the-slice options. Hidden Pizza will
also be delivering food throughout the night to guest rooms at all
three properties.
Public Spaces
- Eldorado's iconic Fountain of
Fortune will undergo cosmetic enhancements. Originally designed by
world-famous Tournament of Roses Parade Designer Raul Rodriquez and
renowned New Orleans Sculptor Joe Barth, the 20-piece fountain is a
must-see attraction at the property.
Silver Legacy
Guest Bathrooms
Inspired by
the Silver Legacy's vibrant, hip and happening atmosphere, all
guest bathrooms will be updated with rich, modern accessories, to
complement the plush carpeting and fine linen beds in Silver
Legacy's discerning guestrooms. New bathrooms will feature soothing
furnishings reminiscent of the breathtaking views of the Sierra
Nevada Mountains.
Race and Sports Book
The all-new 8,500 square-foot
William Hill Race and Sports Book at
Silver Legacy, a $2 million project,
opened Sept. 8 just in time for
football season. Upon entering the new Race and Sports Book, two
incredible, state-of-the-art, high-definition LED walls, each
measuring an impressive 27 feet wide by 9 feet high, makes sports
fans feel as if they were on the 50-yard line at any football
stadium in America. Lined with 167 seats of unobstructed viewing,
games will be played on over 60 televisions and a center bar with
20 beers on tap including local micro-brew favorites like Pigeon
Head Pilsner and The Brew Brothers Carano Extra. The center bar
also has 18 video poker machines, making it the only book in
northern Nevada with a video poker
bar.
Food & Beverage
- Canter's Delicatessen
Legendary Canter's Deli will
open at the Silver Legacy this Fall. Canter's has been
serving up LA's finest deli experience for 85 years, has been voted
the best pastrami by the Los Angeles
Times and LA Weekly and has kept locals and
celebrities alike returning for decades to enjoy award-winning
authentic Jewish deli cuisine. With fresh baked breads,
famous house made pickles and award-winning pastrami, Canter's will
be open for breakfast, lunch and dinner.
- Rum Bullions Island Bar
Reno's only rum bar, Rum Bullions will be
updated with a fresh approach to design and décor, while
maintaining its laid back island atmosphere. Transporting guests to
a seaside getaway with its signature daiquiris, Mai Tais and
coladas, the destination will elevate its reputation as a popular
hotspot to meet friends and unwind. Exotic specialty drinks,
live music and themed nights will continue to be part of the Rum
Bullions itinerary.
Dome Experience
As the central attraction of Silver
Legacy, an all-new immersive high-tech interactive experience will
be created.
Circus Circus Reno
Lighting of the Towers
The skyline of Reno will be brought back to life when the
towers at Circus Circus are lit up with the latest in LED lighting
technology.
Guestrooms
Embracing a playful design aesthetic,
guestrooms at Circus Circus Reno will be completely remodeled with
inspiration from "The Greatest Show on Earth." From alluring
carpets with splatters of bright colors to graphic wall sets that
display Reno street scenes and neon signs, every inch of the rooms
pay homage to the liveliness of the city. The contemporary rooms,
which will also feature newly redesigned bathrooms, will provide a
modern and whimsical place away from home suitable for business or
pleasure.
Food & Beverage
- The Circus Circus Buffet will be completely revamped into a
modern fast casual food court. The food court will feature a number
of fresh, high-quality, brand name eateries new to the Reno market. The space will feature over 180
seats in an open common area, perfect for families looking for
fast, delicious food on-the-go.
- Café Americana will undergo a complete design and interior
remodel. The newly themed 24-hour restaurant will offer American
food classics such as juicy burgers, gooey grilled cheeses, all-day
breakfast selections and hot apple pie.
- Kokopelli's Cantina, an innovative restaurant concept that
combines the flavors of Japan and
Mexico, is coming to Circus Circus
offering modern Mexican favorites and sushi together in a festive
and stylish setting. The new restaurant will also feature an array
of cocktails, including hand crafted margaritas, micheladas and the
finest selection of sake.
Carnival Midway Reinvention
Fun for adults and kids
alike, the midway will be reinvented; transformed from a
traditional American circus vibe to a more whimsical European feel.
Featuring a variety of performers, entertainment and games of
chance, the venue will create a new sense of wonder by highlighting
the clowns, acrobats and artists at its epicenter.
Public Spaces
- New carpet will be installed throughout the entire casino floor
adding to the refreshed, modern look and feel of the resort.
- The existing exterior Circus tent roof will be refurbished,
providing a vibrant and welcoming entry space.
Race and Sports Book
The Circus Circus Race and
Sports Book (also a William Hill design) will undergo renovations
including upgraded sports viewing with state-of-the-art big screen
TVs and a new sports bar and lounge.
Details on each of the property's renovations will continue to
be announced. For more information, or to keep updated on the
exciting enhancements at Eldorado Resorts' Reno Tri-properties,
visit www.eldoradoresorts.com.
About Eldorado Resorts, Inc.
Eldorado Resorts is a
casino entertainment company that owns and operates seven
properties in five states, including the Eldorado Resort Casino,
the Silver Legacy Resort Casino and Circus Circus Resort Casino in
Reno, NV; the Eldorado Resort
Casino in Shreveport, LA; Eldorado
Gaming Scioto Downs in Columbus,
OH; Mountaineer Casino Racetrack & Resort in
Chester, WV; and Presque Isle
Downs & Casino in Erie,
PA.
The Company recently announced that it has entered into a
definitive merger agreement to acquire Isle of Capri for total
consideration of $1.7 billion.
Upon completion of the transaction, expected to occur in the second
quarter of 2017, Eldorado will add
13 additional properties to its portfolio.
For more information, please visit www.eldoradoresorts.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include statements
regarding our strategies, objectives and plans for future
development or acquisitions of properties or operations, as well as
expectations, future operating results and other information that
is not historical information. When used in this press
release, the terms or phrases such as "anticipates," "believes,"
"projects," "plans," "intends," "expects," "might," "may,"
"estimates," "could," "should," "would," "will likely continue,"
and variations of such words or similar expressions are intended to
identify forward-looking statements. Although our
expectations, beliefs and projections are expressed in good faith
and with what we believe is a reasonable basis, there can be no
assurance that these expectations, beliefs and projections will be
realized. There are a number of risks and uncertainties that
could cause our actual results to differ materially from those
expressed in the forward-looking statements which are included
elsewhere in this press release. Such risks,
uncertainties and other important factors include, but are not
limited to: our ability to acquire Isle of Capri Casinos,
Inc. and the timing of such acquisition; our ability to integrate
the operations of Isle of Capri Casinos, Inc. into our operations
and realize the benefits of such transaction; our substantial
indebtedness and the impact of such obligations on our operations
and liquidity; competition; our geographic concentration;
sensitivity of our operations to reductions in discretionary
consumer spending and changes in general economic and market
conditions; governmental regulations and increases in gaming taxes
and fees in jurisdictions in which we operate; risks relating to
pending claims or future claims that may be brought against us; the
effect of disruptions to our information technology and other
systems and infrastructure; construction factors relating to
maintenance and expansion of operations; our ability to attract and
retain customers; weather or road conditions limiting access to our
properties; the effect of war, terrorist activity, natural
disasters and other catastrophic events; and competition to attract
and retain management and key employees; and other risks described
in our filings with the Securities and Exchange Commission.
Media Contacts:
Allied Integrated
Marketing
Rosalind Congleton,
rcongleton@alliedim.com
Stephen Will, swill@alliedim.com
Eldorado Resorts, Inc.
Angela
Kabisch, angela@eldoradoreno.com
Sara Robbins,
srobbins@silverlegacy.com
Investor Contacts:
Thomas
Reeg
President and Chief Financial Officer
Eldorado Resorts, Inc.
(775) 328-0112
investorrelations@eldoradoresorts.com
Joseph Jaffoni, Richard Land, James
Leahy
JCIR
(212) 835-8500
eri@jcir.com
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SOURCE Eldorado Resorts, Inc.