Eldorado Resorts and Isle of Capri Casinos announced this week that the previous will acquire the latter in a deal worth $1.7 billion.

The merger includes $929 million of long-term debt of Isle of Capri and its subsidiaries, the corporations said.

“Following the completion of the transaction, Eldorado will have the benefit of increased operational and geographic diversity because it will add thirteen casino–resorts to its portfolio, for a complete of 20 properties in 10 states,” the corporations said.

Eldorado already operated a handful of casinos between Reno, Nevada in addition to West Virginia, Pennsylvania, Ohio and Louisiana. Combined revenue from the corporations would was $1.8 billion within the 365 DAYS previous to July, the firms said.

“The acquisition of Isle of Capri represents a transformational growth opportunity for Eldorado and is a vital milestone within the successful ongoing execution of our long-term way to opportunistically expand our regional gaming platform through accretive acquisitions," Eldorado CEO Gary Carano said.

“In the last two years now we have created tremendous value for our shareholders because the scale of Eldorado Resorts will grow from two wholly-owned properties and a 50 percent interest in a 3rd property in two markets in 2014 to twenty properties in 10 states after completing the transaction.”

Eldorado has received $2.1 billion in financing from J.P. Morgan.

The deal is predicted to near within the second quarter of 2017.

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