US casino operator Twin River Worldwide Holdings has entered into a definitive agreement to acquire Affinity Gaming’s three land-based casino properties in Colorado.
Twin River will acquire a subsidiary of Affinity which owns the Golden Gates, Golden Gulch and Mardi Gras casinos in Black Hawk, Colorado.
The three casinos are located in close proximity to one another along a half-mile strip of casino and casino-hotel properties in the historic mining town of Black Hawk. They have a combined 36,000 square feet of gaming space featuring 20 table games, 700 slots and a poker parlor.
The acquisition expands Twin River’s portfolio of properties, which currently includes two casinos in Rhode Island (Twin River Casino Hotel and Tiverton Casino Hotel) and one in Mississippi (Hard Rock Hotel & Casino in Biloxi), as well as a Colorado horse race track that possesses 13 OTB licenses.
"The acquisition of the Golden Gates, Golden Gulch and Mardi Gras casino properties is a unique opportunity to further grow and diversify our nationwide portfolio of gaming properties," said Twin River president and CEO George Papanier. "We are pleased to expand our portfolio in Colorado beyond our Arapahoe Park race track and statewide Off-Track Betting network, establishing a significant presence in the growing Black Hawk market."
The transaction is subject to customary closing conditions, including review by the Colorado Division of Gaming and approval by the Colorado Limited Gaming Control Commission, and is expected to close in early 2020.
Affinity acquired the three Black Hawk casinos in 2012. The sale will allow Affinity to focus on its core portfolio in Nevada and the Midwest, which will comprise eight properties in three jurisdictions (five in Nevada, two in Missouri and one in Iowa) upon closing of the transaction.