Eldorado Resorts and Maverick Gaming has announced a second agreement in 2020, with the latter set to add the Montbleu Resort Casino and Spa in Lake Tahoe, Nevada, to its expanding land-based property portfolio.
The definitive agreement is subject to regulatory approvals and other customary closing conditions, and both parties stress an expectation that the purchase will close in the second half of 2020.
Montbleu Resort Casino and Spa is to add 400 hotel rooms, nearly 600 slot machines, 30 table games, a 1200 seat showroom and four restaurants, to Maverick Gaming’s US footprint.
“The agreement to divest Montbleu is consistent with our continued focus on the expected closing for the Caesars transaction in the first half of 2020,” noted Tom Reeg, Chief Executive Officer of Eldorado.
In January, regional casino owner and operator Maverick Gaming announced the $230m purchase of the Eldorado Casino and Resort in Shreveport, Louisiana, encompassing 1,500 slots, 50 table games, over 400 hotel rooms and six restaurants.
The transaction is subject to regulatory approvals, the prior or concurrent closing of Eldorado’s previously announced merger with Caesars Entertainment Corporation and other customary closing conditions, and is expected to close this year.
Eric Persson, majority owner of Maverick Gaming, believes the region presents great promise for the firm: “With this acquisition we will increase our position in Northern Nevada to five casinos with inventory nearing 1600 hotel rooms, and over 2100 slot machines.
“We see great opportunity in Northern Nevada and the Reno Tahoe market, and are actively seeking more distribution there.”
