Bally’s completes acquisition of Jumer’s casino in Illinois
The gaming giant has completed the transaction to buy the Jumer’s venue, allowing Bally’s to enter the Illinois casino and gaming market.
US.- Bally’s Corporation continues to consolidate its expansion throughout the US with new deals and acquisitions. It’s now sealed its expansion into Illinois, after acquiring Jumer’s Casino in Rock Island.
The company has completed its acquisition of Jumer’s Casino & Hotel from Delaware North Companies Gaming & Entertainment, Inc for a total purchase price of $120m. Bally’s funded the investment using available borrowings under its revolving credit facility.
George Papanier, president and chief executive officer of Bally’s Corporation, said in the filing:”As the latest step in our ongoing portfolio diversification strategy, we are excited to complete our acquisition of Jumer’s and enter the rapidly growing Illinois gaming market.
“The closing provides Bally’s with the potential to capitalize on several lucrative sports betting opportunities, which we expect will drive revenue and cash flow growth. We are pleased to welcome Jumer’s into the Bally’s family, and look forward to leveraging our expertise to enhance the property’s operations.”
By acquiring this company, Bally’s also gains lucrative sports betting opportunities by further expanding its geographic footprint into the growing Illinois gaming market.
Jumer’s casino is located in the Quad Cities in Rock Island, Illinois and features a 40,000 square foot casino floor containing more than 870 slot machines and 25 table games, a 205-room hotel with 11 luxury suites, an events center, the Oculus Sports Bar, the Edje nightclub, and four restaurants.
