Twin River Worldwide Holdings today announced that it has completed the acquisition of Eldorado Resorts’ Isle of Capri Casino in Kansas City, Missouri and Lady Luck Casino in Vicksburg, Mississippi. The purchase price for both was $230 million, subject to working capital-adjustments.
For Twin River, the acquisition of the two casinos is the latest step in its portfolio- diversification strategy.
“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets,” said George Papanier, President and Chief Executive Officer of Twin River.
These acquisitions closed just months after Twin River announced its plans to acquire Eldorado Shreveport Resort and Casino in Shreveport, Louisiana, and the Montbleu Resort Casino & Spa in Lake Tahoe, Nevada for $155 million. Separately, the company has entered into an agreement with Caesars Entertainment Corporation and Vici Properties Inc. to acquire Bally’s Atlantic City Hotel & Casino for $25 million in cash.
Tom Reeg, Chief Executive Officer of Eldorado, said, “The sale of these two assets is consistent with our continued focus on reducing debt ahead of the expected closing for the Caesars transaction.”
