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BRIEF-Eldorado Resorts to buy Isle of Capri Casinos for $1.7 bln

Sept 19 Eldorado Resorts Inc :

* Eldorado Resorts enters into definitive agreement to acquire Isle of Capri Casinos for $23 per share in accretive cash and stock transaction valued at $1.7 billion

* Eldorado has received committed financing for transaction totaling $2.1 billion from J.P. Morgan

* Deal consideration inclusive of $929 million of long-term debt of Isle of Capri and its subsidiaries

* Certain stockholders of Eldorado who control approximately 24% have signed agreements to vote in favor of transaction

* Certain stockholders of Isle of Capri who control approximately 35% of Isle of Capri have signed agreements to vote in favor of deal

* Deal for total consideration of approximately $1.7 billion

* Identified cost synergies of approximately $35 million in first year following completion of transaction

* Transaction has been unanimously approved by boards of both Eldorado Resorts, Inc. and Isle of Capri Casinos

* Eldorado and Isle of Capri shareholders will hold approximately 62% and 38%, respectively, of combined company's outstanding shares

* 2 members of Isle of Capri board to be designated as members of Eldorado board effective immediately following closing of deal Source text for Eikon: Further company coverage:

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