Apr 27, 2020 - Economy

Twin River Worldwide will buy 3 casinos for $180 million

Stack of poker chips.

Illustration: Sarah Grillo/Axios

Twin River Worldwide will pay $180 million to buy a pair of casinos from Eldorado Resorts and one from Caesars Entertainment, as Eldorado inches closer to its $17.3 billion purchase of Caesars.

Why it matters: These are penny-slot prices, even in the context of appeasing antitrust regulators and pandemic-related closures.

Details: Eldorado is divesting from a namesake casino in Shreveport, Louisiana, and the MontBleu in Lake Tahoe for $155 million, while Caesars is selling Bally's Atlantic City (and its underlying real estate) for $25 million.

  • Back in January, Eldorado had agreed to sell its two properties to Maverick Gaming — with the Shreveport casino alone valued at $230 million.

The bottom line: "Combined, the three properties have 3,318 slot machines, 176 table games, and 2,092 hotel rooms. Twin Rivers noted Eldorado Shreveport has 6,000 square feet of convention space." — Howard Stutz, CDC Gaming Reports

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