Twin River enters agreement to purchase 3 Colo. casinos

TWIN RIVER WORLDWIDE HOLDINGS has entered into a definitive agreement with affinity Games to acquire three casinos in Colorado. / PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS
TWIN RIVER WORLDWIDE HOLDINGS has entered into a definitive agreement with affinity Games to acquire three casinos in Colorado. / PBN FILE PHOTO/STEPHANIE ALVAREZ EWENS

LINCOLN – Twin Rover Worldwide Holdings Inc. has entered into a definitive agreement to acquire three casinos in Black Hawk, Colo., from Affinity Gaming.

Terms of the transaction were not disclosed. The deal is expected to close in early 2020.

The casinos, Golden Gates, Golden Gulch and Mardi Gras, are located on a half-mile strip of casino and hotel-casino properties, Twin River said. The three casinos have a combined 36,000 square feet of gaming space with 20 table games, roughly 700 slot machines and a poker parlor. The properties also have a combined three restaurants and 24-hour bars, as well as a parking garage.

Twin River owns and manages two casinos in Rhode Island in Lincoln and Tiverton, a casino in Mississippi and a horse race track in Colorado through its subsidiary Twin River Management Group.

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“The acquisition of the Golden Gates, Golden Gulch and Mardi Gras casino properties is a unique opportunity to further grow and diversify our nationwide portfolio of gaming properties,” said George Papanier, president and CEO of Twin River, in a statement. “We are pleased to expand our portfolio in Colorado beyond our Arapahoe Park race track and statewide Off-Track Betting network, establishing a significant presence in the growing Black Hawk market.”

The acquisition is subject to review by the Colorado Division of Gaming and the Colorado Limited Gaming Control Commission.

Twin River is also still in a definitive agreement to acquire Dover Downs and plans to go public.

Chris Bergenheim is the PBN web editor. Email him at Bergenheim@PBN.com.