International edition
April 22, 2019

For $100,000 in cash consideration

Eldorado Resorts confirms operation transference from Lady Luck Casino Nemacolin to Churchill Downs

Eldorado Resorts confirms operation transference from Lady Luck Casino Nemacolin to Churchill Downs
Execution of the agreement to acquire the operations of Lady Luck Casino Nemacolin was a condition to the closing of the parties’ previously announced agreement to sell Eldorado’s Presque Isle Downs & Casino to Churchill Downs.
United States | 08/13/2018

Execution of the agreement to acquire the operations of Lady Luck Casino Nemacolin was a condition to the closing of the parties’ previously announced agreement to sell Eldorado’s Presque Isle Downs & Casino to Churchill Downs.

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Eldorado Resorts, Inc. announced today that it has entered into a definitive agreement with Churchill Downs Incorporated pursuant to which the Company will transfer the operations of Lady Luck Casino Nemacolin in Farmington, Pennsylvania to Churchill Downs for $100,000 in cash consideration.

Execution of the agreement to acquire the operations of Lady Luck Casino Nemacolin was a condition to the closing of the parties’ previously announced agreement to sell Eldorado’s Presque Isle Downs & Casino to Churchill Downs. In connection with the execution of the agreement to acquire the operations of Lady Luck Casino Nemacolin, Churchill Downs will pay Eldorado a $5.0 million termination fee associated with the termination of the agreement to purchase Eldorado’s Lady Luck Casino Vicksburg.

The Company expects the sale of Presque Isle Downs & Casino and Lady Luck Casino Nemacolin to close in the fourth quarter of 2018 pursuant to customary regulatory approvals and closing conditions.

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