Jumer’s Casino and Hotel in Rock Island has been sold to Bally’s Corporation for $120 million. The transaction closed on Monday.

Jumer’s parent company Delaware North Companies Gaming & Entertainment, Inc., initiated the sale last fall with Twin River Worldwide Holdings Inc., which changed its name to Bally’s Corporation in November.

“As the latest step in our ongoing portfolio diversification strategy, we are excited to complete our acquisition of Jumer’s and enter the rapidly growing Illinois gaming market,” said George Papanier, president and chief executive officer of Bally’s Corporation in a release. “The closing provides Bally’s with the potential to capitalize on several lucrative sports betting opportunities, which we expect will drive revenue and cash flow growth.