Jan. 25–Shareholders of Isle of Capri Casinos and Eldorado Resorts voted Wednesday to approve Eldorado's acquisition of Isle for approximately $1.7 billion.
Officials of Creve Coeur-based Isle and Eldorado said shareholders approved the deal at separate meetings. The transaction is expected to be completed in the second quarter, subject to approval of applicable gaming authorities and other customary closing conditions.
Gary Carano, Eldorado's chairman and chief executive, said in a statement the acquisition of Isle is a big step in his company's strategy to expand its regional gaming operations.
Combined operations of Eldorado and Isle will include 20,290 slot machines and video lottery terminals, more than 550 table games and more than 6,550 hotel rooms in 10 states, the companies said.
Isle's chief executive, Eric Hausler, said shareholder approval of the sale to Eldorado "is an important step towards providing Isle of Capri shareholders with substantial and immediate value."
Isle's headquarters will move to Eldorado's home office in Reno, Nev., as a result of the sale, which was announced in September. Jill Alexander, Isle's spokeswoman, has said about 100 people work at the company's headquarters in leased space at 600 Emerson Road.
Eldorado plans to keep all of Isle's casinos, including four in Missouri.
