PROVIDENCE – Twin River Worldwide Holdings Inc. has entered into two agreements to acquire three casinos, the company announced Friday.
Twin River reached an agreement with Eldorado Resorts Inc. to acquire Eldorado Shreveport Resort and Casino in Shreveport, La., as well as the Mont Bleu Resort Casino & Spa in Lake Tahoe, Nev. The combined deal has an aggregate purchase price of $155 million, the company said.
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The deal is expected to close in the first half of 2021, subject to federal approval.
The company also said that it has entered into an agreement to extend Mont Bleu’s lease term to 2035.
Twin River also reached an agreement with Caesars Entertainment Corp. and Vici Properties Inc. to acquire Bally’s Atlantic City Hotel & Casino in Atlantic City, N.J., for $25 million in cash.
The deal is expected to close in late 2020 or early 2021, subject to approvals.
The three properties have a combined 3,318 slots, 2,092 hotel rooms, 176 tables and 6,000 feet of convention space, Twin River said.
The deal will also see Twin River acquiring the license to build out a sports book, as well as online sports betting and I-gaming, it said.
“Despite the uncertainties presented by the current health crisis, we continue to execute our strategy to position Twin River for long-term growth and profitability,” Twin River President and CEO George Papanier said in a statement. “Completion of these transactions will meaningfully enhance our financial profile, while strengthening our presence in a number of key geographic markets.”
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
