Twin River Worldwide Holdings is now trading under its new brand as Bally’s Corp.
The company spent $20 million for the Bally name and brand. New Jersey gaming regulators have also approved the company’s $25 million acquisition of Bally’s Atlantic City. The company plans to invest $90 million in an upgrade to the Boardwalk property. The Bally’s in Las Vegas will continue be operated by Caesars Entertainment and have no connection to Bally’s Corp.
“The company is implementing this name change as part of its unified branding initiative, which complements the considerable geographic growth and operational improvements the company has achieved this past year,” Bally said in a statement.
The company has been expanding its casino holdings and plans to apply the Bally’s name to most of its properties. Along with its Atlantic City acquisition, the company has three other deals in place to acquire a total of four resort-casinos in four states.
According to CDC Gaming Reports, the company is acquiring Tropicana Evansville in Indiana from Caesars in partnership with real estate investment trust Gaming and Leisure Properties for a combined $480 million. Bally’s is also paying $120 million for Jumer’s Casino & Hotel in Rock Island, Illinois, and $155 million for Eldorado Shreveport in Louisiana and the operations of MontBleu Resort Casino in Lake Tahoe, Nevada.
When the deals are concluded, the company will operate 14 casinos in 10 states.
“The Bally’s brand is core to our drive to become the first omni-channel gaming company to seamlessly integrate and operate physical casinos with digital solutions,” Twin River CEO George Papanier said last month.
Bally’s Las Vegas, owned by Caesars Entertainment, will continue to use the Bally’s name under a “perpetual license” negotiated as part of Twin River’s deal to secure the brand.
