Eldorado Resorts, Inc. (NASDAQ:ERI) Q2 2019 Earnings Conference Call Transcript

Aug 06, 2019 • 09:00 am ET

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Eldorado Resorts, Inc. (NASDAQ:ERI) Q2 2019 Earnings Conference Call Transcript

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Q & A
Executive
Thomas Robert Reeg

I would expect that there would be a fair amount of overlap versus what we would be targeting.

Analyst
Daniel Politzer

Okay. And then one last quick one. I think you said, you were mentioning, you were looking to drive leverage down to 3 times once all is said and done with the transaction. I just wanted to clarify. Is that on a lease-adjusted basis or just looking at traditional debt?

Executive
Thomas Robert Reeg

That's on a gross lease-adjusted basis.

Analyst
Daniel Politzer

All right, guys. Thanks so much.

Operator
Operator

And at this time there are no further questions. I'm sorry. We do have another question from David Katz.

Analyst
David Katz

One quick one if you don't mind, and apologies if you discussed this already. But can you just talk about corporate expense a little bit? It was understandably a bit elevated in the quarter and has been jumping around quite a bit. What's in there and how could we potentially think about that for the rest of the year and next year?

Executive
Thomas Robert Reeg

Well, you've got some of the -- you've got sports betting rolls through Corporate and Other now, so there's a little bit of noise in our corporate number. You should be expecting our pure corporate number to stick around $40 million, so about $10 million a quarter. And the difference would be what rolls through for sports betting, which I believe this quarter was around $1.5 million.

Analyst
David Katz

Around $40 million. Perfect.

Executive
Thomas Robert Reeg

Yes.

Analyst
David Katz

All right. Thanks very much.

Operator
Operator

Thank you. There are no further questions at this time. I'd like to turn the call back over to Tom Reeg.

Executive
Thomas Robert Reeg

Thanks, everybody. We'll talk to you next quarter.

Operator
Operator

[Operator Closing Remarks]