S&P might lift Eldorado Resorts

S&P said it placed its ratings on Eldorado Resorts Inc., including the B corporate credit rating, on CreditWatch with positive implications.

"The CreditWatch listing reflects our expectation that we could raise our rating on Eldorado one notch to B+ from B if the company completes the acquisition of Isle of Capri Casinos Inc. under the terms Eldorado has outlined," S&P credit analyst Ariel Silverberg said in a news release.

"We believe the acquisition of Isle of Capri will strengthen Eldorado's business risk position by increasing its scale and expanding its geographic diversity, reducing its concentration in more challenged markets, and improving its profitability, given Isle of Capri's EBITDA margin is higher than Eldorado's."

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