Twin Rivers Completes $51m Purchase Of Three Colarado Casinos

Twin River Worldwide Holdings has completed the $51 m purchase of the Affinity Gaming company that owns the Golden Gates, Golden Gulch and Mardi Gras casinos in Black Hawk, Colorado.

Additionally, in conjunction with the passage of Proposition DD on November 5, 2019, the company has gained the right to three sports gaming licences in Colorado. The company has already formed agreements for these licences, to be revealed at a later date.

“Completing the acquisition of these three properties expands our footprint in Colorado well beyond our Arapahoe Park racetrack and Off Track Betting network,” said CEO George Papanier. “We are very pleased to close on this transaction, the latest in our ongoing efforts to diversify our portfolio.

“Equally exciting are our two additional casinos under contract in Kansas City, Missouri and Vicksburg, Mississippi, as well as our newly-formed partnerships with two well-known sports betting franchises, which we are looking forward to announcing prior to the launch of sports wagering in Colorado.”

Golden Gates, Golden Gulch and Mardi Gras are situated in the historic mining town of Black Hawk, next to each other along a half mile strip of casino and casino-hotel properties. Combined, the properties contain 36,000 square feet of gaming space with almost 20 table games, about 700 slots and a poker parlour.

Golden Gates, Golden Gulch and Mardi Gras casinos will join the growing portfolio of Twin River, consisting of two casinos in Rhode Island, one in Mississippi and one in Delaware, as well as its Colorado horse racetrack with 13 OTB licences approved.

Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Dover Downs Hotel & Casino (Dover, DE) and Arapahoe Park racetrack (Aurora, CO) are all properties.

Papanier said: “We are excited to move forward with these new acquisitions and continue to make progress towards closing other previously announced purchases as we execute on our long-term growth strategy for the company and its shareholders.”