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jeu caesar casinoIndiana Governor Eric Holcomb believes the state’s own gaming expansion laws will allow it to compete with nearby Illinois. (Image: Las Vegas Casino Central)In a note out Monday, the day the deal for Caesars was announced, Wolfe Research analyst Jared Shojaian upgraded Eldorado to “outperform,” the equivalent of a “buy” rating. (Image: Brian Well/Statehouse File)In an interview with The Times of Northwest Indiana’s Daniel Carden, Holcomb says the gaming expansion came as no shock.This is an uber-competitive industry. casino near me kansas“For simplicity, if we take our near-term standalone ERI + CZR 2020 EBITDA estimates and assume no synergies, then the yield would still imply 11%.”In plain English, the analyst is saying on its own, Eldorado is proficient at generating free cash flow, combining with Caesars aids in that objective and that the deal will boost the regional operator’s earnings.Risks To ConsiderWhile Eldorado may be paying a steep price for Caesars, the transaction brings the company into the lucrative Las Vegas market for the first time, but there are some risks associated with a combination that will create one of the largest US gaming companies.Shojaian said thatseneca niagara casino usa bven the combined company, led by Eldorado management, will attract new shareholders, but there may selling by short-term and “non-traditional” investors in the immediate future and that given the leverage (debt) associated with the deal, Eldorado is unlikely to repurchase any of its own stock “for a few years.”Even with those factors in mind, the analyst said, “ERI is now our top idea in the gaming sector.”It is not unusual for the buyer’s stock to fall when mergers and acquisitions are announced, but some on Wall Street are concerned that the .3 billion Eldorado is shelling out for Caesars is too hefty of a price tag. That is more than quadruple the Reno-based company’s market value of billion on Friday, June 21, the last trading day before the merger was revealed.We thought the terms and synergies were favorable and we use today’s weakness as an opportunity to upgrade the stock,” said Shojaian in the note. indiana online casino no deposit bonus

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is foxwoods online real money“We have to make sure that our industry is modernized and firing on all cylinders.”Holcomb succeeded Vice President Mike Pence, who withdrew his reelection campaign after being named then-candidate Donald Trump’s running mate in 2016.Earlier this month, the Illinois General Assembly passed an 816-page gambling expansion package that allows for six new commercial land-based casinos – including one in Chicago – and also creates the regulatory framework for sports betting. That is in fact the amount of “synergies” forecast by Shojaian.The analyst believes the combined Eldorado/Caesars could be a cash cow, a free cash flow cow, to be specific. Indiana Governor Eric Holcomb believes the state’s own gaming expansion laws will allow it to compete with nearby Illinois. clearwater casino gas pricesThe two Majestic Star casinos, along with the Horseshoe and(For more on free cash flow, view this article).“ERI’s stated pro forma free cash flow by around 2021 equates to a staggering 21% free cash flow yield,” said Shojaian. (NASDAQ:ERI) earned an upgrade from Wolfe Research. black bear casino lodging

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online gambling penny stocksIn the two trading days since the regional gaming company’s combination with Caesars became public, shares of Eldorado have tumbled nearly 17 percent. The two Majestic Star casinos, along with the Horseshoe andThe Flamingo Las Vegas, owned by Caesars, which is being acquired by Eldorado. The Flamingo Las Vegas, owned by Caesars, which is being acquired by Eldorado. (NASDAQ:ERI) earned an upgrade from Wolfe Research. It’s happening on all our borders, not just in Illinois,” Holcomb explained. sycuan casino concerts 2021