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ELDORADO RESORTS BOARD OF DIRECTORS AUTHORIZES $150 MILLION SHARE REPURCHASE PROGRAM

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Directors has authorized a $150 million common stock repurchase program. The Company anticipates funding any share repurchases from its cash flow Gary Carano, Chairman and Chief Executive Officer of Eldorado, commented:

Given the strength of our recent operating results including year over year Adjusted EBITDA growth of nearly 13% in our recently reported 2018 third quarter results and free cash flow that we expect to achieve from the recent accretive acquisitions of Tropicana Entertainment and Grand Victoria Casino, our Board of Directors believes share repurchases Repurchases may be made at managements discretion from time to time on the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. The repurchase program has no time limit and may be suspended or discontinued at any time without notice.

There is no minimum number of shares that the Company is required to repurchase and the timing and amount of any shares repurchased under the program will depend on a variety of factors, including available liquidity, general market and economic conditions, regulatory requirements, alternate uses for …

[Read on via official release]

Source: US SEC
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8-K_for_Eldorado_Resorts_Inc_8-K-11-09-2018