Exhibit 10.2

CONFIDENTIAL

June 15, 2020

Eldorado Resorts, Inc.

100 West Liberty Street, Suite 1150

Reno, Nevada 89501

Attention: Chief Financial Officer

Re: Increase to Senior Secured Revolving Credit Facility

Ladies and Gentlemen:

Reference is made to that certain (a) Amended and Restated Commitment Letter,
dated July 19, 2019 (as amended by the First Amendment to Amended and Restated
Commitment Letter and Amended and Restated Fee Letter, dated July 29, 2019 (the
“First Amendment”), and the Second Amendment to Amended and Restated Commitment
Letter, dated June 15, 2020, the “Commitment Letter”) and (b) Amended and
Restated Fee Letter, dated July 19, 2019 (as amended by the First Amendment, the
Second Amendment to Amended and Restated Fee Letter, dated January 24, 2020, and
the Third Amendment to Amended and Restated Fee Letter, dated June 15, 2020, the
“Fee Letter”), in each case, by and among Eldorado Resorts, Inc., a Nevada
corporation (the “Borrower” or “you”), JPMorgan Chase Bank, N.A. (together with
any of its designated affiliates, “JPMorgan”), Credit Suisse AG (acting through
such of its affiliates or branches as it deems appropriate, “CS”), Credit Suisse
Loan Funding LLC (“CSLF” and, together with CS and their respective affiliates,
“Credit Suisse”), Macquarie Capital Funding LLC (“Macquarie Lender”), Macquarie
Capital (USA) Inc. (“Macquarie Capital” and, together with Macquarie Lender,
“Macquarie” and, together with JPMorgan and Credit Suisse, collectively, the
“Initial Commitment Parties”), Bank of America, N.A. (“BANA”), BofA Securities,
Inc. (“BofA Securities” and, together with BANA, “Bank of America”), Deutsche
Bank Securities Inc. (“DBSI”), Deutsche Bank AG New York Branch (“DBNY”),
Deutsche Bank AG Cayman Islands Branch (“DBCI” and, together with DBSI and DBNY,
“Deutsche Bank”), Goldman Sachs Bank USA (“GS”), Truist Bank (as successor by
merger to SunTrust Bank, “Truist Bank”), SunTrust Robinson Humphrey, Inc.
(“STRH” and, together with Truist Bank, “SunTrust”), U.S. Bank National
Association (“US Bank”), KeyBank National Association (“KeyBank”), KeyBanc
Capital Markets Inc. (“KBCM” and, together with KeyBank, “Key”), Fifth Third
Bank (“Fifth Third Bank”) and Citizens Bank, National Association (“Citizens”
and, together with JPMorgan, Credit Suisse, Macquarie, Bank of America, Deutsche
Bank, GS, SunTrust, US Bank, Key and Fifth Third Bank, collectively, the
“Commitment Parties”). Capitalized terms used in this letter agreement (this
“Agreement”) without definition shall have the meanings given to them in the
Commitment Letter or the Fee Letter, as applicable.

Each of the parties hereto agree as follows.

1. ERI Commitment. Each of JPMorgan, CS, DBNY, BANA and Citizens (collectively,
the “ERI Increasing Revolving Lenders”) is pleased to advise you of its several,
but not joint, commitment to provide additional Revolving Commitments (the “ERI
Additional Revolving Commitments”; the Revolving Commitments of each ERI
Increasing Revolving Lender under the Commitment Letter prior to the
effectiveness of this Agreement, the “ERI Existing Revolving Commitments”) under
the Revolving Credit Facility in the respective amounts set forth opposite such
Increasing Revolving Lender’s name on Schedule I hereto. The ERI Additional
Revolving Commitments shall have terms identical to the ERI Existing Revolving
Commitments and shall be available subject only to the conditions set forth in
Section 3 of this Agreement and shall, upon the effectiveness of this Agreement,
constitute Revolving Commitments under the Commitment Letter for all purposes
other than as set forth in Section 4 below.

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2. CRC Commitment. Goldman Sachs Lending Partners LLC (the “CRC Increasing
Revolving Lender” and, together with the ERI Increasing Revolving Lenders, the
“Increasing Revolving Lenders”), an affiliate of GS, is pleased to advise you of
its commitment to provide additional Revolving Facility Commitments (as defined
in the Existing CRC Credit Agreement) (the “CRC Additional Revolving
Commitments” and, together with the ERI Additional Revolving Commitments, the
“Additional Revolving Commitments”) under the Revolving Facility (as defined in
the Existing CRC Credit Agreement) in the amount set forth opposite the CRC
Increasing Revolving Lender’s name on Schedule II hereto. The CRC Additional
Revolving Commitments shall have terms identical to the Revolving Facility
Commitments (as defined in the Existing CRC Credit Agreement) in effect under
the Existing CRC Credit Agreement on the Funding Date and shall be available
subject only to the conditions set forth in Section 3 of this Agreement.

3. Conditions. The commitments of the Increasing Revolving Lenders hereunder are
subject only to (i) the same conditions as the Existing Revolving Commitments as
set forth in Section 2 of the Commitment Letter and (ii) the consummation by you
of an equity offering of at least 16 million shares of your stock. The ERI
Additional Revolving Commitments shall be effected pursuant to an incremental
joinder agreement to the Financing Documentation to be executed and delivered on
the Funding Date (provided that the effectiveness or availability of the
commitments provided thereunder may be conditioned upon the receipt of
regulatory approvals) and the CRC Additional Revolving Commitments shall be
effected pursuant to an incremental joinder agreement to the Existing CRC Credit
Agreement to be executed and delivered on the Funding Date (provided that the
effectiveness or availability of the commitments provided thereunder may be
conditioned upon the receipt of regulatory approvals).

4. Fees. As consideration for the agreements of the Increasing Revolving Lenders
under this Agreement, you agree to pay to each Increasing Revolving Lender, for
its own account, an arrangement fee in an aggregate amount equal to the product
of (i) 2.00% times (ii) such Increasing Revolving Lender’s Additional Revolving
Commitment set forth on Schedule I or Schedule II hereto (the “Additional
Revolving Commitments Arrangement Fee”). The Additional Revolving Commitments
Arrangement Fee shall be in addition to, and not in lieu of, the Revolving
Credit Facility Arrangement Fee payable to each Increasing Revolving Lender in
respect of such Increasing Revolving Lender’s Existing Revolving Commitments
under the Fee Letter and any other fees, costs and expenses payable pursuant to
the Commitment Letter, the Fee Letter or the Financing Documentation, and once
paid will not be subject to counterclaim, setoff or otherwise affected. For the
avoidance of doubt, there shall be no upfront fees or original issue discount
payable in respect of the Additional Revolving Commitments. At the sole
discretion of each Increasing Revolving Lender, all or any portion of such
Increasing Revolving Lender’s Additional Revolving Commitments Arrangement Fee
may be allocated to any of its affiliates or paid to any other Lender or
Lenders.

5. Acceptance/Expiration of Commitments.

(a) This Agreement and the commitments and agreements of the Increasing
Revolving Lenders set forth herein shall become effective upon execution and
delivery by all the parties hereto, and upon such execution and delivery, this
Agreement shall be a binding agreement among the Increasing Revolving Lenders
and you.

(b) In the event this Agreement is accepted by you as provided in the preceding
paragraph, the commitments and agreements of the Increasing Revolving Lenders
set forth herein, and your obligations hereunder, except as set forth with
respect to survival below, will automatically terminate without further action
or notice upon the occurrence of the Expiration Date (it being understood that
this paragraph 5(b) shall not limit any Increasing Revolving Lender’s
obligations under any incremental joinder agreement referred to in paragraph 3
above executed and delivered on or prior to the Expiration Date).

 

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6. Miscellaneous. This Agreement is subject to the confidentiality, governing
law and miscellaneous provisions of the Commitment Letter and the survival
provisions of the Commitment Letter and the Fee Letter, in each case, which are
incorporated herein by reference mutatis mutandis. This Agreement may be
executed in separate counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. Delivery
of an executed signature page of this Agreement by one party to any other party
may be made by facsimile, electronic mail (including any electronic signature
complying with the New York Electronic Signatures and Records Act (N.Y. State
Tech. §§ 301-309), as amended from time to time, or other applicable law) or
other transmission method, and the parties hereto agree that any counterpart so
delivered shall be deemed to have been duly and validly delivered and be valid
and effective for all purposes. This Agreement constitutes the entire agreement
among the parties pertaining to the subject matter contemplated hereby and
supersedes any and all prior or contemporaneous agreements relating thereto.
Each of the parties hereto agrees that this Agreement is a binding and
enforceable agreement (subject to the effects of bankruptcy, insolvency,
fraudulent transfer, fraudulent conveyance, reorganization and other similar
laws relating to or affecting creditors’ rights generally and general principles
of equity) with respect to the subject matter contained herein. Nothing in this
Agreement shall be deemed to constitute an amendment, modification, waiver or
novation of the Commitment Letter or the Fee Letter in any manner.

[Signature Pages Follow]

 

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JPMORGAN CHASE BANK, N.A. By:  

/s/ Brian Smolowitz

Name:   Brian Smolowitz Title:   Vice President

 

[Signature Page to Additional Revolving Commitment Side Letter]

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH By:  

/s/ Whitney Gaston

Name:   Whitney Gaston Title:   Authorized Signatory By:  

/s/ Andrew Griffin

Name:   Andrew Griffin Title:   Authorized Signatory CREDIT SUISSE LOAN FUNDING
LLC By:  

/s/ Joseph Palombini

Name:   Joseph Palombini Title:   Managing Director

 

[Signature Page to Additional Revolving Commitment Side Letter]

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DEUTSCHE BANK AG, NEW YORK BRANCH By:  

/s/ Philip Tancorra

Name:   Philip Tancorra Title:   Vice President By:  

/s/ Michael Strobel

Name:   Michael Strobel Title:   Vice President

 

[Signature Page to Additional Revolving Commitment Side Letter]

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BANK OF AMERICA, N.A. By:  

/s/ Brian D. Corum

Name:   Brian D. Corum Title:   Managing Director

 

[Signature Page to Additional Revolving Commitment Side Letter]

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CITIZENS BANK, NATIONAL ASSOCIATION By:  

/s/ Christopher Lynch

Name:   Christopher Lynch Title:   Director

 

[Signature Page to Additional Revolving Commitment Side Letter]

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GOLDMAN SACHS LENDING PARTNERS LLC By:  

/s/ Annie Carr

Name:   Annie Carr Title:   Authorized Signatory

 

[Signature Page to Additional Revolving Commitment Side Letter]

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ELDORADO RESORTS, INC. By:  

/s/ Bret Yunker

Name:   Bret Yunker Title:   Chief Financial Officer

 

 

[Signature Page to Additional Revolving Commitment Side Letter]

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Schedule I

 

ERI Increasing Revolving Lender

   ERI Additional Revolving Commitment  

JPMorgan Chase Bank, N.A.

   $ 40,000,000  

Credit Suisse AG, Cayman Islands Branch

   $ 40,000,000  

Deutsche Bank AG, New York Branch

   $ 50,000,000  

Bank of America, N.A.

   $ 30,000,000  

Citizens Bank, National Association

   $ 25,000,000  

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Schedule II

 

CRC Increasing Revolving Lender

   CRC Additional Revolving Commitment  

Goldman Sachs Lending Partners LLC

   $ 25,000,000