The purchase of Circus Circus Reno and the remaining half of the Silver Legacy from MGM Resorts International by Eldorado Resorts drew praise from Nevada gaming regulators on Thursday. The move by Eldorado Resorts was noted as an ideal transaction for the invigorated Northern Nevada casino market.

The deal, which was announced in July, was unanimously approved by the Gaming Control Board following a nearly hour-long hearing in Las Vegas. The transaction will be ruled on by the Nevada Gaming Commission on November 19. The purchases give Eldorado an almost 32 percent control of the hotel rooms in the market. Ownership of the Eldorado, Circus Circus Reno and Sliver Legacy, all downtown resorts, won’t give Eldorado Resorts a monopoly on the market, according to the Control Board. However, Eldorado’s CEO Gary Carano said, “We feel no one in Reno will be able to compete with us,” and, “These are exciting times in Reno that we haven’t seen in a long time,” according to CDC Gaming Reports.

The company that bought out MTR Gaming Group last year wants to take advantage of the current economic boom taking place in Reno where through September gaming revenue is up 3.3 percent, according Carano. Within the three resorts, 4,100 hotel rooms and between 15 and 20 restaurants would be operated by Eldorado.

Currently, Eldorado operates six properties in five states and according to Carano the transaction will diversify the company’s revenue stream. The CEO told the Control Board the Eldorado name will be added to Scioto Downs Racetrack Casino near Columbus, Ohio. The facility which is also owned by the company will be adding a Hamptons Inn hotel in addition to the $5.5 million Brew Brother restaurant and microbrewery owned and operated by Eldorado. Earlier this year Eldorado refinanced its debt to help finance the deal with MGM Resorts.

Still thought of an a family-owned company, Don Carano, the family patriarch, opened the Eldorado in 1973 and in 1995 partnered with Circus Circus Enterprises Inc. on construction of the Silver Legacy. All three casinos are connected by enclosed skywalks. The family retained a 25 percent stake in the company after going public via the MTR transaction. Carano said there are no plans to change the name, and that improvements to Circus Circus Reno, including safety and security measures and the property’s Information Technology systems, are the priority.

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