Twin River Worldwide Holdings has completed the previously announced $51m acquisition of the Affinity Gaming subsidiary that owns the Golden Gates, Golden Gulch and Mardi Gras casinos in Black Hawk, Colorado.
Additionally, the firm has acquired the right to three sports gaming licenses in Colorado in connection with the passage of Proposition DD on November 5, 2019. The company has already formed partnerships for these licenses, which will be announced at a later date.
“Completing the acquisition of these three properties expands our footprint in Colorado well beyond our Arapahoe Park racetrack and Off Track Betting network,” said CEO George Papanier. “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.”
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 historic mining town of Black Hawk. Combined, the properties comprise 36,000 square feet of gaming space featuring nearly 20 table games, approximately 700 slots and a poker parlor.
Golden Gates, Golden Gulch and Mardi Gras casinos will join Twin River’s growing portfolio, consisting of two casinos in Rhode Island, one in Mississippi, and one in Delaware, as well as its Colorado horse racetrack that has 13 authorized OTB licenses.
Properties include Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Dover Downs Hotel & Casino (Dover, DE) and Arapahoe Park racetrack (Aurora, CO).
Papanier added: “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.”