Benzinga | Jul 17, 2020 11:02AM EDT

Why Eldorado Resorts Is Trading Lower Today

Eldorado Resorts (NASDAQ:ERI) shares are trading lower on Frida after reports emerged New Jersey regulators are mulling Eldorado buyout of Caesars Entertainment Corporation (NASDAQ:CZR).

Eldorado Resorts is a gaming and hospitality company. It owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania, and West Virginia. The primary source of revenue is generated by gaming operations, the company utilizes its hotels, restaurants, bars, entertainment, retail shops, racing, and other services to attract customers to their properties.

It owns and operates various properties, such as Eldorado Resort Casino Reno; Silver Legacy Resort Casino; Circus Circus Reno and many other properties.

Eldorado Resorts shares were trading down 6.13% at $38.27 during the time of publication on Friday. The stock has a 52-week high of $70.74 and a 52-week low of $6.02.