Rhode Island gambling operator Twin River purchases three casinos in the town of Black Hawk to expand Colorado footprint
Twin River Worldwide Holdings Inc., the owner of Rhode Island’s Twin River Lincoln and Twin River Tiverton casinos, announced Tuesday that it has entered into an agreement to acquire three casinos in Black Hawk, Colorado.
The move arrives amid consolidation wave within the US land-based casino industry that reflects the growing competition in the gambling space.
Twin River has agreed to buy the Golden Gates, Golden Gulch, and Mardi Gras casinos from a subsidiary of Nevada-based gambling operator Affinity Gaming. All three properties are located in Black Hawk, Colorado, a historic mining town currently popular with its multiple casinos and gaming parlors.
Twin River and Affinity did not disclose details about the transaction, including the purchase price. The deal needs to be reviewed by the Colorado Division of Gaming and approved by the state’s Limited Gaming Control Commission, and is expected to be finalized early next year.
Affinity purchased the three casinos back in 2012. With their sale, the Nevada-based gaming company aims to focus on its operations in its domestic market as well as in the Midwest. Once the transaction is closed, Affinity will own eight gaming facilities in three jurisdictions.
Expansion
By adding the three Black Hawk properties, Twin River will extend its footprint in Colorado where it already operates the Arapahoe Park horse racing track in Arapahoe County and a network of Off-Track Betting facilities. The company said in a press release from yesterday that it is pleased to further expand its portfolio in “the growing Black Hawk market.”
The once flourishing mining town is popular with its multiple casinos. There are more than 15 gambling venues spread across the town, some of which operating 24 hours a day, seven days of the week.
Combined, Golden Gates, Golden Gulch and Mardi Gras feature 36,000 square feet of gambling space with 20 table games, 700 slot machines, and a poker parlor. The properties also include three restaurants and bars that operate 24/7.
Twin River is headquartered in Lincoln, Rhode Island. As mentioned above, the company operates two casinos in its home state – the Twin River-branded properties in Lincoln and Tiverton. Twin River launched its Tiverton property last fall. In November, its Lincoln casino launched Rhode Island’s first legal sportsbook following last year’s strikedown of a federal ban on sports betting.
The Tiverton casino cut the ribbon of its sportsbook, the state’s second betting facility, in early December. According to official data released on Tuesday, Rhode Island’s sportsbooks handled $13 million in wagers in December, their first full month of operation and generated revenue of $957,900. Overall, handle for the period between late November, when the Lincoln casino went live with sports betting, and December 31, 2018 amounted to $13.8 million, while revenue came in at $1 million.
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