Twin River Worldwide Holdings, Inc. (Twin River) has agreed to acquire Jumer’s Casino & Hotel in Rock Island, Ill. for $120 million in cash. Twin River is purchasing the property from Delaware North Companies Gaming & Entertainment, Inc., which has owned the casino since 2010.
“Even in the current operating environment amid COVID-19, we advance our disciplined portfolio diversification strategy as we continue to opportunistically expand our regional presence through accretive transactions,” commented George Papanier, President and Chief Executive Officer of Twin River.
“This acquisition further expands our geographic reach into yet another attractive market. It provides access to a growing gaming market in Illinois, with the potential to capitalize on potentially lucrative sports betting opportunities. We look forward to the opportunity to leverage our operational expertise and proven integration approach to drive incremental revenues and cash flow improvements.”
Once the acquisition is complete, Twin River will operate a total of 13 properties across nine states.
About Jumer’s Casino & Hotel
Jumer’s is situated in Rock Island, one of the Quad Cities on the Illinois-Iowa border. The property has a 40,000 square foot casino floor. Jumer’s boasts nearly 900 slots, more than two dozen table games, a 205-room hotel, sports bar, events center, four restaurants, and the Edje nightclub.
Illinois Gambling Growth
Illinois has seen a massive increase in gambling activity and acceptance in recent years. The state’s recent gambling expansion bill allows for the construction of six new casinos as well as legalized sports betting. Retail sportsbooks have already found their way to Illinois, and the state is home to five online sports betting sites: BetRivers, DraftKings, PointsBet, William Hill, and FanDuel.
Twin River’s acquisition of Jumer’s could lead to another sportsbook joining the Illinois market. Once the purchase goes through, it’s safe to expect quick movement from Twin River to launch both retail and online sports betting.