Company profile

Ticker
ERI
Exchange
CEO
Thomas R. Reeg
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Eclair Holdings Co
SEC CIK

ERI stock data

(
)

Calendar

7 Nov 19
11 Dec 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 663.18M 637.12M 635.82M 671.76M
Net income 37.06M 18.94M 38.23M -120K
Diluted EPS 0.47 0.24 0.49 0
Net profit margin 5.59% 2.97% 6.01% -0.02%
Operating income 124.91M 102.55M 123.6M 86.73M
Net change in cash 25.69M -33.74M -13.87M 66.67M
Cash on hand 208.83M 183.14M 216.88M 230.75M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 2.06B 1.47B 892.9M 719.78M
Net income 95.24M 73.38M 24.53M 114.25M
Diluted EPS 1.22 1.08 0.51 2.43
Net profit margin 4.63% 4.98% 2.75% 15.87%
Operating income 310.1M 94.81M 88.7M 72.62M
Net change in cash 96.16M 73.57M -17.25M -9.33M
Cash on hand 230.75M 134.6M 61.03M 78.28M

Financial data from company earnings reports

Financial report summary

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Risks
  • Our business is sensitive to reductions in discretionary consumer spending as a result of downturns in the economy and other factors outside our control
  • Some of our casinos are located on leased property. If we default on one or more leases, the applicable lessors could terminate the affected leases and we could lose possession of the affected casino.
  • We have partnership agreements to expand our sportsbook business and engage in online sportsbook, casino gaming and poker. There can be no assurance that regulations authorizing such activities will be approved in the jurisdictions in which we operate or that the market for such gaming activities will develop as expected.
  • We rely on our key personnel and we may face difficulties in attracting and retaining qualified employees for our casinos and race tracks
  • Work stoppages, organizing drives and other labor problems could negatively impact our future profits
  • An earthquake, hurricane, flood, other natural disaster, act of terrorism or other casualty events could adversely affect our business and we may not have sufficient insurance coverage to cover such losses
  • Our reliance on our computer systems and software could expose us to great financial harm if any of our computer systems or software were subject to any material disruption or corruption.
  • We are or may become involved in legal proceedings that, if adversely adjudicated or settled, could impact our business and financial condition
  • Our information technology and other systems are subject to cyber security risk including misappropriation of customer information or other breaches of information security
  • Our operations have historically been subject to seasonal variations and quarterly fluctuations in operating results, and we can expect to experience such variations and fluctuations in the future
  • We may experience construction delays or cost overruns during our expansion or development projects that could adversely affect our operations
  • Our planned capital expenditures may not result in our expected improvements in our business
  • Our obligations under our indebtedness and Master Lease are significant
  • We may not be able to generate sufficient cash to service all of our indebtedness and pay rent under the Master Lease and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful
  • The market price of our common stock could fluctuate significantly
  • We have not historically paid dividends and may not pay dividends in the future
Management Discussion
  • Operating Results.  Including incremental Isle, Elgin and Tropicana net revenues totaling $575.5 million generated following their respective acquisition dates, net revenues increased 38.8% for the year ended December 31, 2018 compared to 2017. Excluding incremental Isle, Elgin and Tropicana net revenues, net revenues remained flat for the year ended December 31, 2018 compared to 2017.
  • Isle contributed $600.1 million of incremental net revenues from the date we acquired Isle on May 1, 2017 through December 31, 2017 consisting primarily of gaming revenues. Including these incremental net revenues, net revenues increased 64.4% for the year ended December 31, 2017 compared to 2016. Excluding these incremental net revenues, net revenues declined 2.2% for the year ended December 31, 2017 compared to 2016, primarily due to decreased revenues associated with severe weather during the first and third quarters of 2017.
  • For the year ended December 31, 2018 compared to 2017, operating income increased 227.1% mainly due to incremental operating income contributed by Isle, Elgin and Tropicana following their respective acquisition dates. Incremental operating income totaling $80.7 million represents operating income for four months of operations for Isle, five months of operations for Elgin and three months of operations for Tropicana. Excluding the incremental operating income, operating income rose 141.9% for the year ended December 31, 2018 compared to 2017 due to margin improvement resulting from synergies and departmental operating efficiencies, a $34.2 million decrease in impairment charges and a $71.9 million decline in transaction expenses. These increases in operating income for the year ended December 31, 2018 compared to 2017 were partially offset by higher depreciation associated with additional assets.
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H.S. junior Bad
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