It has been announced that casino properties Isle of Capri Casino and Lady Luck Casino in Missouri and Mississippi respectively have been acquired by hospitality and casino corporation Twin River in a deal reportedly in the region of $230 million.
Subject to customary adjustments, the acquisition was previously announced by the firm and will see the subsidiaries of Eldorado Resorts be purchased by the multi-casino property owner.
Twin River has stated that the latest acquisition deal allows the company to expand its geographic footprint in attractive markets and the properties will fit perfectly into its portfolio.
In addition, the firm has already hinted that it has redevelopment and operation plans that will assist with increasing the cash flow from both casinos that are situated in Kansas City and Vicksburg.
Vicksburg of Twin River Worldwide Holdings commented on the acquisition:
“We are very pleased to close on this transaction, the latest in our ongoing efforts to diversify our portfolio.
Equally exciting are our three additional casinos under contract in Shreveport, Louisiana, Lake Tahoe, Nevada and Atlantic City, New Jersey.
We see significant opportunities to create cross marketing connections for customers at multiple Twin River locations nationwide.”
Both casino properties are currently in operation following the re-opening plans after a period of closure due to Covid-19.
Between them, the casinos have a gaming floor space of 65 thousand square feet and operate more than one-thousand slot machines along with a variety of table games.