MTR Gaming Group, Inc. & Eldorado HoldCo LLC Announce Approval by the Pennsylvania Gaming Control Board for Proposed MTR-Eldo...
18 9월 2014 - 5:34AM
Business Wire
MTR Gaming Group, Inc. (NasdaqGS:MNTG) (“MTR”) and Eldorado
HoldCo LLC (“Eldorado”) announced today that the proposed
combination of MTR and Eldorado has been approved by the
Pennsylvania Gaming Control Board.
With today’s approval, MTR and Eldorado have obtained all
necessary consents and approvals to their merger, which is expected
to close on September 19, 2014.
About MTR Gaming Group, Inc.
MTR Gaming Group, Inc. is a hospitality and gaming company that
through subsidiaries owns and operates Mountaineer Casino,
Racetrack & Resort in Chester, West Virginia; Presque Isle
Downs & Casino in Erie, Pennsylvania; and Scioto Downs in
Columbus, Ohio. For more information, please visit
www.mtrgaming.com.
About Eldorado HoldCo LLC
Eldorado HoldCo LLC is the parent company of Eldorado Resorts
LLC, an owner and operator of gaming properties in Nevada and
Louisiana. Eldorado Resorts’ properties include Eldorado Reno,
Eldorado Shreveport and Silver Legacy (a 50 / 50 joint venture with
MGM Resorts International). For more information, please visit
www.eldoradoreno.com, www.eldoradoshreveport.com and
www.silverlegacyreno.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on current
expectations of management of MTR and Eldorado and are subject to
uncertainty and changes in circumstances. These forward-looking
statements include, among others, statements regarding the expected
timing of the closing of the merger of MTR and Eldorado; the
expected benefits of a potential combination of MTR and Eldorado,
including the expected effect of the merger on MTR’s and Eldorado’s
financial results and profile; the anticipated benefits of
geographic diversity that would result from the merger and the
expected results of MTR’s and Eldorado’s gaming properties;
expectations about future business plans, prospective performance
and opportunities. These forward-looking statements may be
identified by the use of words such as “expect,” “anticipate,”
“believe,” “estimate,” “potential,” “should”, “will” or similar
words intended to identify information that is not historical in
nature. The inclusion of such statements should not be regarded as
a representation that such plans, estimates or expectations will be
achieved. There is no assurance that the potential transaction will
be consummated, and there are a number of risks and uncertainties
that could cause actual results to differ materially from the
forward-looking statements made herein. These risks and
uncertainties include (a) the timing to consummate a potential
transaction between MTR and Eldorado; (b) the ability of MTR and
Eldorado to promptly and effectively integrate their respective
businesses; (c) the requirement to satisfy closing conditions to
the mergers as set forth in the merger agreement; (d) the outcome
of any legal proceedings that may be, or have been, instituted in
connection with the transaction; (e) the ability to retain certain
key employees of MTR or Eldorado; (f) that there may be a material
adverse change affecting MTR or Eldorado, or the respective
businesses of MTR or Eldorado may suffer as a result of uncertainty
surrounding the transaction; (g) the risk factors disclosed in
MTR’s filings with the Securities and Exchange Commission (the
“SEC”), including its Annual Report on Form 10-K for the year ended
December 31, 2013, which MTR filed on March 14, 2014, and (h)
the risk factors disclosed in the Proxy Statement/Prospectus mailed
to MTR stockholders on or about June 18, 2014. Forward-looking
statements reflect MTR’s and Eldorado’s management’s analysis as of
the date of this release, even if subsequently made available by
MTR or Eldorado on their respective websites or otherwise. MTR and
Eldorado do not undertake to revise these statements to reflect
subsequent developments, except as required under the federal
securities laws. Readers are cautioned not to place undue reliance
on any of these forward-looking statements.
MTR Gaming Group, Inc.John W. Bittner, Jr.,
724-933-8122Executive Vice President and Chief Financial
Officerjbittner@mtrgaming.comwww.mtrgaming.comorEldorado Resorts
LLCTom Reeg, 281-683-7511Senior Vice President of Strategic
Developmentreegt@eldoradoreno.comwww.eldoradoreno.com
Mtr Gaming (NASDAQ:MNTG)
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