Twin River Gets Access to Illinois through Jumer’s Casino Purchase

Casino operator Twin River Worldwide Holdings is set to enter the expanding Illinois gambling market through the acquisition of Jumer’s Casino & Hotel in Rock Island from fellow casino firm Delaware North for $120 million in cash.

The transaction, news of which emerged earlier this week, is expected to close in the second quarter of 2021, subject to regulatory approvals, including members of the Illinois Gaming Board voting in favor.

Jumer’s Casino features more than 870 slot machines, 25 table games, a live poker room, high-limit slots area, and a VIP lounge. Its other amenities include a hotel with 205 rooms and 11 suites, an indoor pool and fitness center, events center with meeting rooms with a capacity of up to 600 people, four dining outlets, a sports bar, lakeside fire pit, and aqua driving range.

The casino complex opened doors in 1992 and was acquired by Delaware North in 2011. The company said that while selling the property was a hard decision to make, it was a necessary one as it is now looking to focus its attention on new casino projects.

The company is seeking permission to operate a proposed Southland Live Casino in Calumet City as part of Illinois’ ongoing gambling expansion. Under a sweeping gambling reform signed by Gov. J. B. Pritzker, up to six new full-scale casinos could open doors in the state in the coming years, including one in Chicago.

Twin River Expands Regional Presence

After Twin River acquires Jumer’s Casino, the company will be operating 13 properties in nine states. Over the last several years, the company has been growing its portfolio and has been expanding its regional presence through a slew of strategic acquisitions.

Commenting on the purchase of Jumer’s Casino, Twin River President and CEO George Papanier said that this acquisition will further expand their geographic reach into “yet another attractive market” and would provide his company with access to a “growing gaming market in Illinois, with the potential to capitalize on potentially lucrative sports betting opportunities.”

Illinois legalized sports wagering last year as part of its larger gambling overhaul. First retail betting operations were launched this past March, while the state’s first mobile betting app went live in June.

Mr. Papanier added that they look forward to enhancing Jumer’s financial performance and that they believe “there is an opportunity to improve operations and enhance revenues at the property.”

Earlier this year, Twin River announced that it would enter three other states through the acquisition of three properties from Eldorado Resorts and Caesars Entertainment ahead of their multi-billion merger in July.

The company said that it would purchase Eldorado Resort Casino Shreveport in Louisiana and the Montbleu Resort, Casino and Spa in Lake Tahoe Nevada from Eldorado for $155 million as well as Bally’s Atlantic City Hotel & Casino from Caesars for $25 million. The deals are expected to close in the first half of 2021.

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