Twin River World Holdings (TRWH) last week announced that it has taken possession of three casinos in Colorado. Two days later added that it had formed a partnership with FanDuel to bring sports betting to the Centennial State.
Twin River closed the deal on the Golden Gates, Golden Gulch and Mardi Gras casinos in Black Hawk for $51 million, which it paid to Affinity Gaming. The company already owns Arapahoe Park near Denver.
Twin River previously completed a $230 million purchase of Isle of Capri Casino Kansas City in Kansas City, Missouri and the Lady Luck Casino Vicksburg in Vicksburg, Mississippi.
Twin River CEO George Papanier said in a statement: “We are very pleased to close on this transaction, the latest in our ongoing efforts to diversify our portfolio. We are excited to move forward with these new acquisitions and continue to make progress towards closing other previously announced purchases.”
The combined purchase gives Twin River 36,000 square feet of gaming space with 700 slots, 20 tables and a poker room.
TRWH and FanDuel Group also announced a market access partnership that will introduce FanDuel Sportsbook app to the Colorado market. This is the fifth state where FanDuel Sportsbook will be available. The Colorado purchases gave Twin River three licenses for offering sports book, which led to the partnership.
FanDuel Group CEO Matt King greeted the partnership with this statement: “Twin River has been engaged in sports betting since the beginning in Rhode Island and Mississippi, and they are an ideal partner as we continue to enter states that open up online and mobile sports betting.” King added, “Colorado has a sensible framework for sports betting, and we are excited to partner with a renowned gaming company like Twin River to bring our market-leading online sports betting experience to Colorado sports fans.”
Papanier added, “Completing the acquisition of these three properties expands our footprint in the Colorado market well beyond our Arapahoe Park racetrack and Off-Track Betting network. We are very excited for this newly-formed partnership with FanDuel that will allow us to bring sports betting to the greater Denver market.”
The FanDuel Sportsbook will be available once sports betting goes live in Colorado in May. It will offer point spreads, money lines, over/under, parlays, teasers, prop bets, round robins and live in-game wagers.
