Twin River to purchase Jumer’s Casino
Twin River Worldwide Holdings, Inc. announced it aims to acquire Jumer’s Casino & Hotel for $120m. Located in the Quad Cities in Rock Island, Illinois, the property has a 40,000 square foot casino floor with more than 870 slot machines, 25 table games, and a 205-room hotel with 11 luxury suites.
George Papanier, President and CEO of Twin River said, “Even in the current operating environment amid COVID-19, we advance our disciplined portfolio diversification strategy as we continue to opportunistically expand our regional presence through accretive transactions.” He added that the acquisition will expand the company’s reach and grants access to a growing gaming market in Illinois. “We look forward to the opportunity to leverage our operational expertise and proven integration approach to drive incremental revenues and cash flow improvements,” he added.
After the acquisition, Twin River will operate 13 properties in nine states. The transaction should be closed in Q2 2021.