Exec: MTR-Eldorado merger a 'powerful combination'

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Updated: 9/10/2013 10:35 am

MORGANTOWN, W.Va. (AP) — The proposed merger of MTR Gaming Group and Eldorado Resorts creates new opportunities for growth, and executives with both companies say investors should expect to see acquisitions in coming years.

Nevada-based Eldorado and West Virginia-based MTR announced plans Monday to create a new company, Eldorado Resorts Inc. If shareholders and regulators approve the deal, it will be publicly traded, with Eldorado's Gary Carano serving as CEO.

Eldorado vice president of strategic development Tom Reeg told investors Tuesday that the partnership will let the companies pursue opportunities they couldn't seek on their own.

Reeg says both have been limited by their size, lack of diversity and balance sheets. But together, they're a powerful combination.

Eldorado owns three properties in Nevada and Louisiana. MTR owns three in Ohio, Pennsylvania and West Virginia.

 

©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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