In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Eldorado Resorts Inc. (NASDAQ:ERI) reported that Hotel Casino Management, Inc. has picked up 4,368,461 of common stock as of 2017-05-25.
The acquisition brings the aggregate amount owned by Hotel Casino Management, Inc. to a total of 4,368,461 representing less than 5.77% stake in the company.
For those not familiar with the company, Eldorado Resorts, Inc. is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms. As of December 31, 2016, the Company owned and operated various properties, including Eldorado Resort Casino Reno (Eldorado Reno), Silver Legacy Resort Casino (Silver Legacy), Circus Circus Reno (Circus Reno), Eldorado Resort Casino Shreveport (Eldorado Shreveport), Mountaineer Casino, Racetrack & Resort (Mountaineer), Presque Isle Downs & Casino (Presque Isle Downs), and Eldorado Gaming Scioto Downs (Scioto Downs).
A glance at Eldorado Resorts Inc. (NASDAQ:ERI) key stats reveals a current market capitalization of 1.57 Billion based on 75.67 Million shares outstanding and a price at last close of $20.50 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-14, Wagner picked up 1,744 at a purchase price of $18.70. This brings their total holding to 142,000 as of the date of the filing.
On the sell side, the most recent transaction saw Hotel unload 729,136 shares at a sale price of $20.66. This brings their total holding to 4,368,461.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Eldorado Resorts Inc. (NASDAQ:ERI) as things move forward to see if its progress aligns with these transactions.
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