The Cordish Companies and Eldorado Resorts, Inc. (NASDAQ: ERI) Announce New Joint Venture to Develop World-Class, Mixed-Use Hospitality Destination in Pompano, FL

Destination Resort to include hotel, dining, entertainment, retail, and residential

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Apr 27, 2018, 10:45 ET

POMPANO, Fla., April 27, 2018 /PRNewswire/ -- The Cordish Companies and Eldorado Resorts, Inc. announced today their formalization of a new 50-50 joint venture partnership that will master plan, design and develop a new world-class, mixed-use entertainment and hospitality destination in Pompano, FL. The development will complement and encompass the site of the existing Isle Casino Racing Pompano Park and bring new upscale retail, dining, and entertainment to South Florida. The 223-acre development will include a corporate office campus, residential, and a hotel.

A fourth-generation, family-owned company and one of the largest and most respected developers worldwide, The Cordish Companies has become a leading developer of world–class, mixed use destinations. (Seminole Hard Rock Hotel & Casino - Hollywood, FL)

The Cordish Companies has received an unprecedented seven Urban Land Institute Awards of Excellence in recognition of its urban revitalization accomplishments in cities such as Baltimore’s world famous Inner Harbor; Atlantic City, NJ; Charleston SC; Houston, TX; and Kansas City, MO. (Charleston Place - Charleston, SC)

Welcoming over 50 million annual visitors a year, Cordish developments are among the highest profile dining, entertainment and hospitality destinations in the country. (Power & Light District - Kansas City, MO)

Located 35 miles north of Miami and less than 10 miles north of Fort Lauderdale, the project site is serviced by the region's major airports and easily accessed off I-95 at W. Atlantic Blvd. The 223-acre project site is one of the largest undeveloped parcels in South Florida and presents one of the best opportunities for development in the United States.

"We are proud to partner with Eldorado Resorts on this exciting new development," stated David Cordish, Chairman of The Cordish Companies. "Eldorado Resorts is one of the premier gaming and entertainment companies in the country. Together we are committed to delivering a unique mixed-use development that creates thousands of new jobs for the City of Pompano and South Florida, provides new amenities and attractions to the local population and attracts substantial new visitation to the region. I plan personally to spend significant time on the ground working to bring the development to fruition."

"The Cordish Companies is one of the leading developers of high-profile, mixed-use destinations in the country and has a level of expertise that is unmatched," stated Gary Carano, CEO of Eldorado Resorts, Inc. "This development is an incredible opportunity to complement our existing gaming and racing facilities on the site and will become a vibrant destination for visitors to South Florida."

Mayor Lamar Fisher, City of Pompano Beach, FL stated, "On behalf of the City, we are extremely excited that the vision and dream for the development of the Isle site is becoming a reality and look forward to working closely together with The Cordish Companies and Eldorado Resorts in creating a destination like no other."

About The Cordish Companies
The Cordish Companies' origins date back to 1910 and encompass four generations of privately-held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader in Real Estate Development, Gaming & Hospitality, Entertainment Management and International Urban Planning & Development. One of the largest and most respected developers in the world, The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence for public-private developments that are of unique significance to the cities in which they are located. Prime examples are The Cordish Companies' prominent role in the redevelopment of Baltimore's world famous Inner Harbor; Philadelphia, PA; Atlantic City, NJ; Charleston, SC; Houston, TX; Louisville, KY; Kansas City, MO and St. Louis, MO. In addition, The Cordish Companies has developed and operates multiple highly acclaimed dining, entertainment and hospitality destinations throughout the United States which welcome over 50 million visitors per year and are the most visited destinations in their respective regions. In Florida, The Cordish Companies developed the highly acclaimed Seminole Hard Rock Hotel & Casinos in Hollywood and Tampa. Over the generations, The Cordish Companies has remained true to the family's core values of quality, entrepreneurial spirit, long-term personal relationships and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created. For more information visit www.cordish.com or follow us on Twitter (@cordishco).

"The Cordish Companies," "The Cordish Company" and "Cordish" are trademarks used under license by independent corporations, legal liability companies and partnerships ("Cordish Entities"). Each Cordish Entity is a separate, single-purpose legal entity that is solely responsible for its obligations and liabilities. No common operations or financial interdependency, and no intermingling of assets or liabilities of the Cordish Entities exists, or should be deemed to exist, as a result of the potential common reference to multiple independent entities operating under the names "Cordish," "The Cordish Companies" or "The Cordish Company" here or elsewhere.

About Eldorado Resorts, Inc.
Eldorado Resorts is a leading casino entertainment company that owns and operates twenty properties in ten states, including Colorado, Florida, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, Pennsylvania and West Virginia. In aggregate, Eldorado's properties feature approximately 21,000 slot machines and VLTs and 600 table games, and over 7,000 hotel rooms. For more information, please visit www.eldoradoresorts.com.