October 23, 2014 8:10 AM ET

Hotels, Restaurants and Leisure

Company Overview of NGA Holdco, L.L.C.

Company Overview

NGA Holdco, LLC operates in the gaming industry in the United States. The company, through its 17.0359% interest in Eldorado Holdco LLC, owns and operates the Eldorado Hotel & Casino in Reno, Nevada; manages Eldorado Casino Shreveport and a tri-level riverboat dockside casino complex in Shreveport, Louisiana; and owns and operates the Silver Legacy Resort Casino, a 1,711 room hotel casino property, as well as owns interests in Tamarack Junction Casino & Restaurant, a small casino in south Reno, Nevada. It also, through its 40% interest in Mesquite Gaming LLC, owns and operates the CasaBlanca Resort/Golf/Spa, the Virgin River Hotel/Casino/Bingo, two championship golf courses, a full-service s...

21 Waterway Avenue

Suite 150

The Woodlands, TX 77380

United States

Founded in 2007

Phone:

713-559-7400

Key Executives for NGA Holdco, L.L.C.

Operating Manager
Age: 50
Principal Financial Officer
Age: 48
Chief Executive Officer of Eldorado Resorts LLC
Age: 82
Compensation as of Fiscal Year 2014.

NGA Holdco, L.L.C. Key Developments

NGA Holdco, L.L.C. announced delayed annual 10-K filing

On 05/30/2014, NGA Holdco, L.L.C. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

NGA Holdco, L.L.C. to Restate Earnings Results for the Quarterly Periods Ended May 31, 2013, August 31, 2013 and November 30, 2013 and for the Year Ended February 28, 2013

On February 14, 2014, management of NGA Holdco, LLC concluded that the company's previously issued financial statements contained in its annual report on Form 10-K for the year ended February 28, 2013, along with the previously issued financial statements contained in the company's quarterly reports on Form 10-Q for the quarterly periods ended May 31, 2013, August 31, 2013 and November 30, 2013 should no longer be relied upon based on errors discovered in the financial statements of one of the company's equity method investees, which were relied upon by the company in preparing its financial statements included in its aforementioned reports. The investee's financial statements contained errors related to the recognition of the investee's share of the net losses of its partially owned joint venture under the equity method of accounting. The investee has issued restated financial statements for the year ended December 31, 2012 and for the quarterly and nine month periods ended September 30, 2013 and will include the corrected financial statement amounts in restated financial statements for the quarterly period ended March 31, 2013 and the quarterly and six month periods ended June 30, 2013. The estimated effects of the misstatements on the company's consolidated financial statements were to overstate net income for the year ended February 28, 2013, and its investment in Eldorado as of that date, by approximately $1.7 million, and to understate net income for the nine months ended November 30, 2014 by approximately $0.4 million. The investee's management has determined that the investee's need to restate its financial statements (and thus the company's need to restate its financial statements) resulted from a material weakness in the investee's internal control over financial reporting. The investee has been actively engaged in developing a remediation plan to address the material weakness. The investee's management has informed the company that implementation of a remediation plan is in process and consists of, among other things, implementing additional review procedures, financial and management controls and reporting procedures. The company will restate the financial statements in its filings noted above to correct the errors related to its investment in the aforementioned investee and will include the restated financial statements in amendments to the aforementioned filings on Form 10-K/A and Form 10-Q/A, as applicable, which will be filed with the Securities and Exchange Commission as soon as practicable.

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