Eldorado Resorts, Inc. (ERI)

Eldorado Resorts, Inc. was a casino operator that grew from a single hotel-casino in Reno into one of the largest regional gaming companies in the United States. The Carano family opened the Eldorado in downtown Reno in the 1970s, and the company remained family-led as it expanded. It ran casinos, hotels and racetracks in markets across the Midwest, South and East.

The company became public in September 2014 through a merger with MTR Gaming Group, and its shares traded on Nasdaq under the symbol ERI. It then grew through a series of acquisitions, including Isle of Capri Casinos in 2017 and Tropicana Entertainment in 2018. These deals gave Eldorado more than twenty properties and a reputation for cutting costs at the businesses it bought.

In June 2019 Eldorado agreed to buy Caesars Entertainment Corporation, the much larger owner of Caesars Palace and other Las Vegas Strip resorts, as well as the Caesars Rewards loyalty program. The cash-and-stock deal was valued at about $17.3 billion including debt. To satisfy antitrust regulators, the companies agreed to sell several properties in overlapping markets. Shareholders of both companies approved the deal in late 2019.

The acquisition closed on July 20, 2020. Eldorado was the surviving parent but adopted the Caesars Entertainment name, and its stock began trading on Nasdaq as CZR on July 21, 2020. Eldorado chief executive Tom Reeg led the combined company, which operates casinos across the United States and online sports betting and gaming. Its brands include Caesars, Harrah's, Horseshoe and Eldorado. Former ERI shares carried over as CZR shares without any exchange.