Twin River Worldwide Holdings has closed its $230m acquisition of Eldorado Resorts subsidiaries that own the Isle of Capri Casino in Kansas City, Missouri, and the Lady Luck Casino in Vicksburg, Mississippi.
The transactions close months after Twin River announced its plans to also acquire Eldorado Shreveport Resort and Casino in Shreveport, Louisiana and the Mont Bleu Resort Casino & Spa in Lake Tahoe, Nevada for an aggregate purchase price of $155m.
Separately, the company has entered into an agreement with Caesars Entertainment Corporation and Vici Properties to acquire Bally’s Atlantic City Hotel & Casino for $25m in cash.
All together, these purchases expand Twin River’s footprint into four additional US states, taking the company’s operational footprint to 12 properties in eight states. The five properties combined contain 4,860 slots, 2,181 hotel rooms and 189 tables.
“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties with our redevelopment and operating plans, explained George Papanier, president and chief executive Officer of Twin River.
“We are very pleased to close on this transaction, the latest in our ongoing efforts to diversify our portfolio. Equally exciting are our three additional casinos under contract in Shreveport, Louisiana, Lake Tahoe, Nevada and Atlantic City, New Jersey. We see significant opportunities to create cross marketing connections for customers at multiple Twin River locations nationwide.”
Isle of Capri Casino reopened on June 1 and currently has the ability to operate all amenities and consists of approximately 40 thousand square feet of casino space, 939 gaming machines, 13 table games and two dining venues.
Lady Luck Vicksburg reopened on May 21 and is currently operating 50 per cent of slots and features approximately 25 thousand square feet of casino space, 603 slot machines, eight electronic table games, three dining venues and an 89-room hotel.