Twin River set for Illinois expansion with Jumer’s acquisition
Under the deal, Twin River will pay $120.0m (£93.0m/€102.3m) to purchase the property, financing the acquisition with a combination of cash on hand, cash from ongoing operations and borrowings under a revolving credit facility.
Located in Quad Cities in Rock Island, Illinois, Jumer’s has a 40,000sq ft casino floor featuring more than 870 slot machines and 25 table games, as well as a 205-room hotel, an events center, sports bar, nightclub and four restaurants.
Subject to regulatory approvals and other customary closing conditions, as well as a customary working capital adjustment, the transaction is expected to close during the second quarter of 2021.
Should the acquisition go through as expected, it would expand Twin River’s land-based network to 13 properties across nine states.