Bally’s Corporation has expanded its footprint into the growing Illinois market after completing the previously announced acquisition of Jumer’s Casino & Hotel from Delaware North Companies Gaming & Entertainment.
The acquisition, Bally’s said, will help the company to further capitalise on sports betting opportunities across the US. The purchase price of the transaction totalled $120 million which it funded using the available borrowings under its revolving credit facility.
George Papanier, president and chief executive officer of Bally’s Corporation, explained: “As the latest step in our ongoing portfolio diversification strategy, we are excited to complete our acquisition of Jumer’s and enter the rapidly growing Illinois gaming market.
“The closing provides Bally’s with the potential to capitalise on several lucrative sports betting opportunities, which we expect will drive revenue and cash flow growth. We are pleased to welcome Jumer’s into the Bally’s family, and look forward to leveraging our expertise to enhance the property’s operations.”
Jumer’s is located in the Quad Cities in Rock Island, Illinois, and features a 40,000 square foot casino floor containing more than 870 slot machines and 25 table games, 205-room hotel with 11 luxury suites, events center, Oculus Sports Bar, Edje nightclub, and four restaurants.