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11 July

Twin River Acquires Two Eldorado Properties

July 11, 2019
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Gambling operator Twin River Worldwide Holdings (TRWH) has inked a deal with Eldorado Resorts to buy two of its casinos located in Missouri and Mississippi.

On Thursday, the Rhode Island-based gaming company confirmed that it would acquire Lady Luck Casino Vicksburg and Isle of Capri Casino Kansas City for $230 million.

Under the terms of the deal, TRWH will obtain both the real estate assets and the operations of the two casinos.

President and CEO of TRWH George Papanier said that they strived to acquire venues which would increase the company’s earnings. He also added that the casinos’ assets were a “great” fit for the operator, creating the opportunity for them to boost net cash flow.

The company stated that it would finance the acquisition with available money; the deal is expected to be concluded by early 2020.

Reno-based Eldorado Resorts is selling two gambling venues less than a month after it had reported the sale of three casino resorts for $385 million.

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