Twin River Purchases Casinos from Caesar, Eldorado to Enter Gambling Big Markets
Real money casino operator Twin River Worldwide Holdings has made a purchase of three casino properties from their biggest counterpart in Eldorado Resorts and Caesars Entertainment Corp. This is a move to make sure that they expand its operation across three new states.
Twin River casinos managed to settle an agreement with Eldorado Resort Casino Shreveport, Louisiana, Montebleu Resort and Casino and Spar in Lake Tahoe, Nevada. This deal came to an overall purchase of $USD 155 million.
However, Twin River which is also operating Rhodes Island two commercial casinos along with other properties in the states has also struck a deal with Caesars VICI Properties in a bid to acquire Bally’s Atlantic City Hotel and Casino in a massive $25 million deal.
Nevertheless, the news about Twin River casino buying assets from Eldorado and Caesar came after the two Nevada-based gambling firms are in to finalize their $17.3 billion mergers. However, this massive real money deal is still subject to endorsement from the regulators.
Twin River Casinos Enters Three New Gambling States
The announced purchase of the said three casinos marks the entry of Twin River into three new states:
- New Jersey
These three gambling scenes collectively feature 3,318 slot machines and close to 200 table games, alongside 2,092 hotel rooms alongside 6,000 square feet of convention space available at Eldorado’s Shreveport site.
Above all, Eldorado elaborated that it was going to sell it Montebleu property in the Lake Tahoe as well as it Shreveport property in Louisiana to Maverick Gaming in a whopping $USD 230 million deal.
This simply means that Twin River is on the brink of buying two massive gambling venues at a very noteworthy discount.
The Eldorado CEO Tom Reeg said in a statement that, the agreement to divest the two casinos to Twin River instead was “consistent with their continued focus on closing the Caesars transaction in the first half of 2020.”
Exciting times are ahead and the coming of Twin River will surely allow us to witness some brilliant prospects in the gambling space in the USA.