Land casino firm Twin River Worldwide announced this week that they've struck agreements to purchase casinos from Eldorado Resorts as well as Caesars Entertainment, adding to the group's portfolio moving forward.
The initial deal reported is the purchase of the Eldorado Shreveport Resort and Casino as well as the Mont Bleu Casino Resort & Spa in Lake Tahoe. The two properties are being purchased for $155 million and comes as Eldorado terminated the purchase agreement that had been in place with Maverick Gaming. The second deal is for the Bally's Atlantic City Casino, and will run TRW $25 million.
Both of these agreements have some time to go before they're given full approval. There will be different regulatory approvals in the states of Louisiana, New Jersey and Nevada as well as potential federal approval.
Commenting on the deals Eldorado CEO Tom Reeg said, "The agreement to divest Shreveport and MontBleu to Twin River Worldwide Holdings is consistent with our continued focus on closing the Caesars transaction in the first half of 2020."
Caesars CEO Tony Rodio also commented, noting: "We look forward to the reopening of Bally's Atlantic City as soon as appropriate once the public health emergency related to COVID-19 has passed. We appreciate Twin River's commitment to this property, which has a great future ahead under its stewardship."