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Eldorado Resorts To Purchase Isle Of Capri Casinos

RENO — Eldorado Resorts has agreed to buy Isle of Capri Casinos for $1.7 billion in combined stocks and cash, a move that will add 13 casino-resorts to the Reno-based company's portfolio.

The deal announced Monday includes $929 million of long-term debt held by Isle of Capri Casinos. The company based in the St. Louis, Missouri-area operates 14 casino properties in Colorado, Florida, Iowa, Louisiana, Mississippi, Missouri and Pennsylvania.

Eldorado Resorts chairman and CEO Gary Carano told the Reno-Gazette Journal the deal will help spread his company's risk across 20 casinos in 10 different states.

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Eldorado's expanded property portfolio will include about 20,800 slot machines and video lottery terminals, more than 560 table games and 6,500 hotel rooms. The company said in a news release it received the $2.1 billion in financing from J.P. Morgan.