Twin River to acquire Illinois casino
Twin River hopes to expand in the US sports betting market with the new deal, which is expected to close in 2021.
US.- Twin River Worldwide Holdings has announced it will acquire Jumer’s Casino & Hotel through a deal with parent company Delaware North Companies Gaming & Entertainment.
The deal values the business in Rock Island, Illinois at $120m. It’s expected to close in the second quarter of 2021, providing it gains regulatory approval.
Jumer’s gaming floor hosts 870 slot machines and 25 gaming tables. The venue also has a hotel with 205 rooms, an events centre, a sports bar, a nightclub and 4 restaurants.
Twin River’s president and CEO, George Papanier, said: “Over the last several years through our efforts with Hard Rock Biloxi, Dover Downs, our Black Hawk Colorado Casinos and most recently Casino KC and Casino Vicksburg, we have demonstrated an ability to integrate and operate acquired casino assets.
“We believe this experience will prove valuable as we look to further enhance Jumer’s financial performance. In particular, we believe there is an opportunity to improve operations and enhance revenues at the property which would allow us to lower our acquisition multiple.”
Once the deal finalises, Twin River will own thirteen casino properties across nine states.
