MTR Gaming Shareholders Okay Merger With Eldorado

(RTTNews) - MTR Gaming Group Inc (MNTG) said Friday that, at its special meeting of stockholders, a majority of its shareholders voted to approve the merger with Eldorado HoldCo LLC.

"We are pleased with the outcome of today's special meeting, and I want to thank our stockholders for approving the merger agreement," said Joseph Billhimer, president and chief operating officer of MTR.

"We believe upon closing of the mergers that the new Eldorado will create greater long-term value for all stakeholders through an expanded and diversified gaming portfolio across the country."

As previously announced, MTR, Eldorado and certain of their affiliates entered into a Merger Agreement, pursuant to which MTR and Eldorado will become wholly-owned subsidiaries of Eclair Holdings Co, which will be renamed "Eldorado Resorts Inc."

The final approval from MTR stockholders satisfies one of the conditions to the proposed transaction. ]

MTR Gaming is a hospitality and gaming company, while Eldorado HoldCo LLC is the parent company of Eldorado Resorts LLC, an owner of gaming properties.