Eldorado Resorts, Inc. (NASDAQ: ERI) (Eldorado or the Company) announced today that Bret Yunker has been named Chief Financial Officer, effective May 2, 2019, subject to customary regulatory approvals. Mr. Yunker will assume the CFO position from Thomas (Tom) R. Reeg, the Companys Chief Executive Officer, who on an interim basis has also served as the Companys Chief Financial Officer following his appointment as Chief Executive Officer on January 1, 2019.
Mr. Yunker brings more than twenty years of gaming industry investment banking experience to his new role at Eldorado, most recently serving as Managing Director at J.P. Morgan in its Real Estate Investment Banking group with primary coverage responsibility for the gaming industry. In this role, he worked with clients across several sectors within the gaming industry, including casino operators, gaming equipment and system suppliers, REITs, lottery service providers and online gaming companies.
Mr. Yunker began his banking career in 1998, serving for fourteen years in various investment banking roles including as Managing Director at Bank of America Merrill Lynch. His work with clients over the last twenty years includes broad geographic coverage including North America, Europe, Asia and other emerging markets.
At Eldorado, Mr. Yunker will be responsible for all of the Companys financial and treasury functions including financial reporting, bank relationships, conducting internal and industry analysis to support the Companys goals for growth, investor relations, and M&A activity.
Tom Reeg commented on Mr. Yunkers appointment, Bret brings deep perspectives on our industry and company, proven financial expertise and extensive industry relationships to the CFO position. His background will be an invaluable asset to Eldorados senior management team, Board of Directors and our accomplished finance and accounting departments as we seek to continue to build value for our shareholders. He will be an integral part of our efforts to grow our Company.
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Mr. Yunker added, I have been impressed with Eldorados ability to execute a well-defined strategic growth plan that includes identifying accretive acquisitions and applying its integration and operational expertise to reduce acquisition multiples and grow free cash flow. I am excited to join the Eldorado team and look forward to working with Tom, Anthony Carano, corporate and property-level management and the Board of Directors to achieve the Companys strategic and financial goals.
About Eldorado Resorts, Inc.
Eldorado Resorts is a leading casino entertainment company that owns and operates twenty seven properties in thirteen states, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, New Jersey, Ohio, Pennsylvania and West Virginia. In aggregate, Eldorados properties feature more than 28,000 slot machines and VLTs and over 600 table games, and over 12,500 hotel rooms. For more information, please visit www.eldoradoresorts.com.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding our strategies, objectives and plans for future development or acquisitions of properties or operations, as well as expectations, future operating results and other information that is not historical information. When used in this press release, the terms or phrases such as anticipates, believes, projects, plans, intends, expects, might, may, estimates, could, should, would, will likely continue, and variations of such words or similar expressions are intended to identify forward-looking statements. Although our expectations, beliefs and projections are expressed in good faith and with what we believe is a reasonable basis, there can be no assurance that these expectations, beliefs and projections will be realized. There are a number of risks and uncertainties that could cause our actual results to differ materially from those expressed in the forward-looking statements which are included elsewhere in this press release. Such risks, uncertainties and other important factors include, but are not limited to the risks and uncertainties described in our reports on Form 10-K, Form 10-Q and Form 8-K.