Eldorado Resorts: 3Q Earnings Snapshot
RENO, Nev. (AP) _ Eldorado Resorts Inc. (ERI) on Thursday reported third-quarter profit of $37.7 million.
On a per-share basis, the Reno, Nevada-based company said it had profit of 48 cents. Earnings, adjusted for asset impairment costs, were 52 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The casino and resort operator posted revenue of $487.3 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $490.7 million.
Eldorado Resorts shares have increased 17 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.89, a climb of 33 percent in the last 12 months.