Reno-based Eldorado Resorts recently named Bret Yunker as chief financial officer, effective May 2. He replaces Thomas Reeg who had served as Eldorado’s interim chief financial officer and was named chief executive officer on January 1.
Most recently, Yunker served as managing director at J.P. Morgan, with primary responsibility for the gaming industry. He worked with a wide array of gaming industry clients, including casino operators, gaming equipment suppliers, real estate investment trusts, lottery providers and online gaming companies.
Reeg said Yunker’s experience “will be an invaluable asset” to the company, adding, “Bret brings deep perspectives on our industry and company, proven financial expertise and extensive industry relationships to the CFO position.”
Jefferies Gaming Analyst David Katz stated Yunker’s hiring “signals that further corporate activity” is part of Eldorado’s long-term plan. He said Eldorado was the most likely casino company to consider different regional gaming acquisitions.
“Given the importance of continuing the roll-up strategy in the story, we consider a transaction-oriented CFO a positive,” Katz said.
Over the past two years, Eldorado has made several acquisitions making it the third largest regional casino company, with 27 casinos and properties in 13 states. The company acquired Isle of Capri Casinos in 2017, and last year acquired the operations of Tropicana Entertainment in partnership with Gaming and Leisure Properties in a $1.8 billion deal.
