Purchase of Lady Luck Casino finalized, formally announced
PROVIDENCE, R.I. — Twin River Worldwide Holdings, Inc. on Thursday announced it had acquired the operations and real estate of two casinos, including Lady Luck Casino in Vicksburg.
The purchase price of the acquisition was $230 million, subject to customary adjustments.
Lady Luck Vicksburg’s property features approximately 25,000 square feet of casino space, 603 slot machines, eight electronic table games, three dining venues and an 89-room hotel.
Paul Avery, vice president and general manager at Lady Luck Casino Vicksburg will continue on in his role.
Twin River also purchased the Isle of Capri Casino Kansas City in Kansas City, Mo., from Eldorado Resorts, Inc. That property consists of approximately 40,000 square feet of casino space, 939 gaming machines, 13 table games and two dining venues.
“This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,” George Papanier, President and CEO of TRWH commented. “These properties expand our geographic footprint with assets into very attractive markets.”
These acquisitions closed just months after TRWH announced its plans to also acquire Eldorado Shreveport Resort and Casino in Shreveport, La., and the Mont Bleu Resort Casino & Spa in Lake Tahoe, Nev., for an aggregate purchase price of $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.
Altogether, these acquisitions significantly expand Twin River’s footprint into four additional U.S. states.
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