The Eldorado Casino in Henderson, Nevada has been sold to gambling conglomerate MGM Resorts International for $850 million. The sale was announced on Tuesday and is expected to be completed by the end of the year.
The Eldorado has been a fixture in Henderson since it opened in 1973. It was one of the first casinos in the Las Vegas Valley outside of the city limits of Las Vegas.
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The casino has undergone several expansions and renovations over the years and now features over 1,000 hotel rooms, a convention center, and a movie theater.
PRO TIP:The Eldorado Casino in Henderson, NV has been sold to Maverick Gaming. The sale was completed on February 25th, 2021 and the official announcement was made by Maverick Gaming on March 1st, 2021.
MGM Resorts plans to keep the Eldorado open and operating as a casino and hotel. The company also owns several other casinos in Las Vegas, including the Bellagio, MGM Grand, and Mandalay Bay.
The Eldorado sale is just the latest in a string of major casino sales in Las Vegas. In July, Caesars Entertainment announced the sale of the Rio All-Suite Hotel & Casino for $516 million.
In August, Wynn Resorts announced the sale of its Encore Boston Harbor casino for $2.6 billion.
The Las Vegas gaming market has been consolidating in recent years as large companies have been buying up smaller casinos. The Eldorado sale is likely to continue that trend as MGM Resorts grows its presence in Sin City.
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In February 2018, the Eldorado Casino in Henderson, Nevada was bought by a group of investors led by Derek Stevens, the owner of the D Las Vegas Casino. The purchase price was $380 million. The Eldorado has been in operation since 1973 and is one of the oldest casinos in Henderson.
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