It’s no news that Twin River Worldwide Holdings has been very busy in 2020. The casino shopping spree continues. And success at their flagship casino in Lincoln, Rhode Island, brings more staff into the fold. NETimeGambling.com reports – Twin River Adds Casino and Rehires Staff.
The Shopping Spree Continues
According to PRNewswire, “Twin River Worldwide Holdings announced that it has agreed with Delaware North Companies Gaming & Entertainment, Inc. to acquire Jumer’s Casino & Hotel (“Jumer’s”) in Rock Island, Illinois for a purchase price of $120 million in cash.
Previously this year, Twin River Worldwide Holdings announced expanding its portfolio of casinos. Twin River Hotel and Casino in Lincoln, Rhode Island, is also making changes to its property.
In April, TRWH announced it was buying three properties:
- Bally’s Atlantic City Hotel & Casino from Caesars Entertainment for $25 million
- Eldorado Shreveport Resort and Casino and
- Mont-Bleu Resort Casino & Spa in Lake Tahoe from Eldorado Resorts for a combined $155 million.
As the Jumers agreement unfolds, Twin River Worldwide Holdings owns and operates ten casino and racetrack properties in Colorado, Delaware, Mississippi, Missouri, and Rhode Island.
About Jumers – Twin River Adds Casino to Portfolio
On December 1, 2008, Jumer’s opened its Las Vegas-style casino and hotel in southwest Rock Island, Illinois. A few minutes from the Iowa border, NETimeGambling had the pleasure of visiting it two years later. We found it very comfortable inside. This will be another great addition to TRWH.
The 43,000-square-foot casino has about 1,000 slots and 18 table games, a live poker room, and a high-limit slots area. The complex includes a 205-room hotel with 11 luxury suites, an event center, a nightclub, and four restaurants. DJ’s Steakhouse is named after the company’s founder, D. James Jumer
Jumer’s deal with Twin River includes the casino and the hotel, event center, and four restaurants. The sale is expected to close in the spring of 2021.
In 2011, the Jumer family sold the property to Delaware North, who is now selling it to Twin River Worldwide Holdings.
“Over the last several years through our efforts with Hard Rock Biloxi, Dover Downs, our Black Hawk Colorado Casinos, and most recently Casino KC and Casino Vicksburg, we have demonstrated an ability to integrate and operate acquired casino assets. We believe this experience will prove valuable as we look to enhance Jumer’s financial performance further. In particular, we believe there is an opportunity to improve operations and enhance revenues at the property, which would allow us to lower our acquisition multiple.”George Papanier, President and Chief Executive Officer of Twin River
Staff Returning To Twin River in Rhode Island
According to a spokesperson Patti Doyle, Twin River Management Group brought has back more than two-thirds of its close to 2,500 employees. About 671 employees are yet to return.
As business picks up, additional employees will return. Most likely, when the hotel reopens, more areas not used previously will also make a dent in the numbers still unemployed.
“This will be driven by our ability to reopen more amenities, such as our two hotels, and a likely increase in business volume with the eventual lift of the Massachusetts quarantine,” said Doyle in a statement.
While so casino industry giants haven’t even opened all of their casinos, Twin River Worldwide Holdings continues to expand across the country. A connected rewards club will go far, making this expansion a good move. However, the interesting part is watching all this unfold when the gambling industry is cautious to re-open.