Eldorado Resorts logo (2014–2020) The company traces its history back to the development of the Eldorado Hotel in Reno, which was opened on May 24, 1973, by a group of investors that included Don Carano and other members of the Carano family. [5] [6] [7] The Eldorado companies were reorganized in 1996 as Eldorado Resorts LLC in connection with a $100-million bond offering. [9] [10] In 2005, the company took over the bankrupt Hollywood Casino Shreveport in Louisiana, buying a 76 percent stake in the property for $154 million. [11] It was then rebranded as the Eldorado Casino Shreveport. [12] In November 2015, Eldorado bought Circus Circus Reno and the 50% stake in the Silver Legacy that it did not already own from MGM Resorts International for $73 million. [17] [18] In August 2018, Eldorado bought the Grand Victoria Casino in Illinois for $328 million. [20] [21] Two months later, Eldorado acquired the operating business of Tropicana Entertainment for $640 million, adding seven casinos to its portfolio. Gaming and Leisure Properties simultaneously purchased the real estate of five of the casinos and leased them to Eldorado for a total of $88 million per year.
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