Twin River acquires rights to Bally’s brand from Caesars

New York-listed casino operator Twin River Worldwide Holdings has acquired the rights to the iconic Bally’s brand from Caesars Entertainment.

After entering into an agreement to acquire Bally's Atlantic City Hotel & Casino from Caesars earlier this year for $25m, Twin River has agreed a new deal that will enable the company to rebrand "virtually" all of its properties under the Bally’s brand.

Twin River will maintain the Bally's name for the Atlantic City property, and has agreed to provide Caesars with a perpetual license to use the Bally's brand at its existing Bally's Las Vegas Hotel & Casino property in Nevada.

Twin River currently operates nine casinos across the US, including two in Rhode Island (Twin River Casino Hotel and Tiverton Casino Hotel), two in Mississippi (Hard Rock Hotel & Casino and Casino Vicksburg), three in Colorado (Golden Gates Casino, Golden Gulch Casino and Mardi Gras Casino), Dover Downs Hotel & Casino in Delaware, and Casino KC in Missouri.

Shares in Twin River Worldwide Holdings Inc (NSQ:TRWH) closed up 3.46 per cent at $24.20 per share in New York Tuesday.