Press Releases

$5.1 Million of Upgrades to Gaming Floor, High Limits Area, North Side Bar, La Bonne Vie Restaurant, Racing Amenities & Construction of a New Center Bar to be Completed in Phases Throughout 2015

ERIE, Pa.--(BUSINESS WIRE)-- Eldorado Resorts, Inc. (NASDAQ: ERI) (“Eldorado” or the “Company”) announced today that following approval from the Pennsylvania Gaming Control Board that it will soon commence construction on a range of design and facility enhancements at its Presque Isle Downs & Casino in Erie, Pennsylvania.

Eldorado has developed a five part plan for Presque Isle Downs, which was the sole gaming offering in the region when it began gaming operations in February 2007. Reflecting increased competition and Eldorado’s commitment to food, beverage and hospitality excellence, the Company intends to invest approximately $5.1 million in property upgrades and improvements in 2015. “These additional amenities and facility upgrades are designed to enhance the guests experience as well as better position Presque Isle Downs to compete at a much higher level with the increased competition in the region. In addition, it will improve the overall ambiance and appearance of the casino floor giving it more energy and life,” said Jeff Favre, Vice President and General Manger of Presque Isle Downs.

The plan includes a reconfiguration of the gaming floor that will include the addition of a center bar with high definition state-of-the-art flat-screen televisions, renovation of the high-limit gaming area, a full redesign of the property’s La Bonne Vie Steakhouse entrance-exterior façade as well as enhancements to the restaurant’s interior and a refresh of the existing casino bars. Eldorado also plans to replace approximately 115 slot machines at Presque Isle Downs with the latest in gaming technology, a replacement of all of the existing televisions throughout the property with high definition state-of-the-art flat-screen televisions and will also make several upgrades and enhancements to its thoroughbred racing amenities which will enhance the live racing experience for both the horsemen and the public for the upcoming 2015 race meet.

“Our capital investments at Presque Isle Downs are targeted at significantly enhancing our guests’ entertainment and dining experience at the property. The planned changes reflect the commitment of our new owner, Eldorado Resorts, to extend the Carano family’s legacy of providing guests with diverse food and beverage options and comfortable, well-appointed gaming and leisure areas. With these projects, we believe Presque Isle Downs will emerge as the leading gaming, entertainment and dining option for Erie and regional guests,” said Jeff Favre.

The plans include five casino-related projects, starting with a new center bar that will feature 18 high-definition state-of-the-art televisions and eleven bar-top video poker machines. The bar will be composed of polished granite with a vibrant custom red panel ceiling that will beckon guests throughout the casino. The anticipated start date for this project is mid-April with completion expected by mid-June. “The center bar will create a new energy zone and improve the overall ambiance of the casino floor,” Favre said.

Also slated for April is the design upgrade to the entrance and interior of La Bonne Vie Steakhouse. The new façade will feature marbleized back-lit gold panels and mahogany wood detailing. Polished granite planters will flank the entrance to the steakhouse, already one of the finest restaurants in Erie where guests enjoy great steaks, succulent seafood, crisp salads and decadent desserts in an atmosphere of casual elegance, located just off the casino floor.

Gregg Carano, who most recently served as Corporate Director of Food and Beverage at Eldorado Hotel Casino in Reno, Nevada and Eldorado Resort Casino in Shreveport, Louisiana, is overseeing the menu and restaurant upgrades with two executive chefs. Gregg Carano and his Reno and Shreveport teams significantly improved the quality and breadth of the respective properties’ food and beverage offerings as well as the guest service experience. The Company expects his involvement to build upon the work being done by the Presque Isle Downs property management teams, including providing guests with diverse food and beverage options while instilling its player-focused culture and philosophy of having senior team members serve as ambassadors to players on the casino floor. With nightly features and seafood specialties, new Executive Chef Robert Hesse (known for his two appearances on the TV reality show, Hell’s Kitchen with famed Chef Gordon Ramsey) is regularly developing enticing new dishes that complement La Bonne Vie’s extensive wine list, which has garnered awards from Wine Enthusiast and Wine Spectator.

Presque Isle Downs’ High Limit Room will also receive décor upgrades creating a more modern and relaxed ambience for guests. The architectural details will include lowering the ceiling, custom wall coverings and artwork, state-of-the-art televisions and contemporary whimsical chandeliers that provide a warm glow. A detailed red-lit gold railing will lead guests to this new sophisticated space.

In addition, upgrades to the south and north side bars are slated to begin in the fall and the addition of a non-smoking area, with its own non-smoking entrance, on the casino floor. This project is expected to be completed by year end.

“These projects will create updates and cosmetic enhancements to the casino floor to give it more visual flair and energy. Providing Erie County with an exciting destination at which to work and play, as well as attracting tourists to our great community, is a never-ending goal of Presque Isle Downs & Casino. When we’re successful everyone in Erie County benefits and shares in our successes,” Favre said.

About Presque Isle Downs & Casino

Presque Isle Downs & Casino, located in Erie, PA, features live thoroughbred horse racing, over 1,500 slots, 42 table games and poker action, live entertainment and award-winning dining.

About Eldorado Resorts, Inc.

Eldorado Resorts, Inc. (NASDAQ: ERI) is a casino entertainment company that owns and operates six properties in five states, including Eldorado Resort Casino and Silver Legacy Resort Casino (a 50/50 joint venture with MGM Resorts International) in Reno, NV; Eldorado Resort Casino in Shreveport, LA; Scioto Downs Racino in Columbus, OH; Mountaineer Casino Racetrack & Resort in Chester, WV; and Presque Isle Downs & Casino in Erie, PA. For more information, please visit www.eldoradoresorts.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 Eldorado and are subject to uncertainty and changes in circumstances. These forward-looking statements include, but are not limited to, statements regarding the (i)expectations about future business plans, prospective performance and opportunities; (ii) economic and market conditions; and (iii) plans, costs, construction, completion and opening timelines of expanded facilities at Presque Isle Downs & Casino. 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 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) construction factors, including delays, increased costs of labor and materials, availability of labor and materials, zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters and building permit issues;(b) changes in laws and regulations permitting expanded and other forms of gaming in our key markets; and(c) general economic conditions and the impact of the economy on discretionary spending and Eldorado’s business. Forward-looking statements reflect Eldorado’s analysis as of the date of this release. Eldorado does 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.

If you or someone you know has a gambling problem, help is available.

Call 1-800-GAMBLER.

Presque Isle Downs & Casino
Jennifer See, 814-866-8335
Director of Marketing
jsee@pidowns.com
or
Eldorado Resorts, Inc.
Thomas Reeg, 775-328-0112
President
investorrelations@eldoradoresorts.com
or
JCIR
Joseph N. Jaffoni, Jennifer Neuman
212-835-8500
eri@jcir.com

Source: Eldorado Resorts, Inc.