The Dover Downs Gaming & Entertainment (DDGE) and Twin River Worldwide Holdings that owns and operates two casinos in Rhode Islands are all set to merge to become one single entity. After one year of underlying discussions, the shareholders of both companies have given a green signal to the merger.
While it is already confirmed, the official signing of the merger will be done the company representatives today. The decision came after the DREDGE shareholders voted in favor of the merger on Tuesday, earlier this week.
In a joint statement to the press the companies said that there was a tremendous support in favor of the merger. It said that over 99% of shareholders voted in favor of the deal. Following the agreement the Dover Downs Hotel & Casino in Dover, Delaware will become a subsidiary of the Twin River Worldwide.
As far as the listing with the New York Stock Exchange (NYSE) is concerned, DDGE shares, currently traded on the exchange will get delisted. Twin River Worldwide shares will be available for trade with the ticker symbol, TRWH.
The merger is significant for the Twin River as it will allow the company to tap into the US mid-Atlantic region.
The Dover Downs casino runs over 2,200 slot machines and offers a big arsenal of table games. Moreover, the venue now also offers sports wagers.
Twin River Tiverton and the Twin River Lincoln both operated by The Twin River Worldwide in Rhode Island have also started taking sports wagers. The company also owns the Hard Rock Brand. It also owns and runs the Arapahoe Park horse race track in Aurora, Colorado.