Twin River Worldwide Holdings has announced the $51m acquisition of an Affinity Gaming subsidiary that owns the Golden Gates, Golden Gulch and Mardi Gras casinos in Black Hawk, Colorado
Furthermore, Twin River has also acquired the right to three sports gaming licenses in Colorado in connection with the passage of Proposition DD, which legalised the activity in the state on November 5, 2019.
The three properties join a portfolio the currently consists of Rhode Island’s Twin River Casino Hotel and Tiverton Casino Hotel, as well as Mississippi’s Hard Rock Hotel & Casino, Dover Downs Hotel & Casino in Delaware and Arapahoe Park racetrack, which is also situated in The Centennial State.
“Completing the acquisition of these three properties expands our footprint in Colorado well beyond our Arapahoe Park racetrack and off track betting network,” said George Papanier, president and chief executive officer of Twin River.
“We are very pleased to close on this transaction, the latest in our ongoing efforts to diversify our portfolio. Equally exciting are our two additional casinos under contract in Kansas City, Missouri and Vicksburg, Mississippi, as well as our newly-formed partnerships with two well-known sports betting franchises, which we are looking forward to announcing prior to the launch of sports wagering in Colorado.
“We are excited to move forward with these new acquisitions and continue to make progress towards closing other previously announced purchases as we execute on our long-term growth strategy for the company and its shareholders.”
Golden Gates, Golden Gulch and Mardi Gras are located in close proximity to one another along a half mile strip of casino and casino-hotel properties in the mining town of Black Hawk.
Together the properties contain a combined 36,000 square feet of gaming space featuring nearly 20 table games, approximately 700 slots and a poker parlour. The properties also offer three restaurants and 24/7 bars.
“We are pleased to complete the sale of these three casino properties as we sharpen our focus on Affinity’s other key markets in Nevada and the Midwest,” added Mary Beth Higgins, chief executive officer of Affinity Gaming.
“We remain committed to driving sustainable, long-term growth, while further enhancing Affinity as a local casino leader by continually improving the customer and guest experience at our properties.”