ELDORADO RESORTS PLANS MORE THAN $50 MILLION OF FACILITY UPGRADES AT ITS THREE RENO PROPERTIES
Enhancements at Eldorado Reno, Silver Legacy and Circus Circus Reno to Include New Restaurants, Expanded Nightlife and Full-service Luxury Spa
Eldorado Resorts, Inc. to reinvest more than $50MM in @EldoradoReno @SilverLegacy @CircusReno #Reno Tweet
PR Newswire – Reno, NV (Sept. 26, 2016)
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.
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:
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.
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 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.
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.
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
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.
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.
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.
- 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.
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.
In light of these and other risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur. These forward-looking statements speak only as of the date of this press release, even if subsequently made available on our website or otherwise, and we do not intend to update publicly any forward-looking statement to reflect events or circumstances that occur after the date on which the statement is made, except as may be required by law.
President and Chief Financial Officer
Eldorado Resorts, Inc.
Joseph Jaffoni, Richard Land, James Leahy