Twin River Acquires Eldorado Resorts Subsidiaries

Twin River Worldwide Holdings closed its $230-million acquisition of Eldorado Resorts subsidiaries owners of the Isle of Capri Casino in Kansas City , Missouri, and the Lady Luck Casino in Vicksburg , Mississippi.

Closing months after Twin River revealed its plans to buy Eldorado Shreveport Resort and Casino in Shreveport, Louisiana and Mont Bleu Resort Casino & Spa in Lake Tahoe, Nevada for an estimated $155 m purchase price.

The company has also reached an agreement with Caesars Entertainment Corporation and Vici Properties to buy Bally’s Atlantic City Hotel & Casino for $25 m in cash.

Such acquisitions all together extend the reach of Twin River into four additional US states, bringing the company’s operating reach to 12 assets in eight states. Combined, the five properties contain 4,860 slots, 2,181 hotel rooms and 189 tables.

George Papanier, president and chief executive Officer of Twin River explained: “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.

“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.”