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Eldorado Resorts terminates agreement to sell Louisiana casino

Eldorado Resorts Inc. said it terminated its agreement for the roughly $134.5 million sale of the Isle of Capri Casino Hotel in Lake Charles, La., as the buyer did not secure the gaming approvals required to close the transaction.

The buyer, Kicks Entertainment LLC, is indirectly owned by Laguna Development Corp. and Eagle Holdings LLLP.

Eldorado Resorts, which completed its merger with Isle of Capri Casinos Inc. in May, retained the buyer's $20.0 million deposit, pursuant to the sale agreement. The casino sale agreement with Isle of Capri was in August 2016.