Why Eldorado Resorts Inc.'s Shares Popped 11% Today

Shares of gambling company Eldorado Resorts Inc. (NASDAQ: ERI) jumped as much as 11% in trading on Wednesday, after the company reported second-quarter earnings. Shares were down 10% at the close of trading.

Total pro forma revenue, including Isle of Capri in the results, fell 2.5% to $426.8 million, and net loss was $0.69 per share. But adjusted EBITDA on the same basis rose 7.8% to $100.0 million. If you pull out acquisition charges of $85.5 million, the company would have made a solid profit, which bodes well for the future.

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Source: Fool.com