Twin River Holdings makes Bally’s acquisition from Caesars Entertainment
By Bob Garcia
The casino operator completes the purchase of a New Jersey casino and plans on keeping the name
Twin River Worldwide Holdings announced yesterday that it has struck a new deal with Caesars Entertainment to acquire the iconic Bally’s brand. This means the Bally’s Atlantic City property it purchased in April for $25 million will not need to be renamed. The only other casino owned and operated by Caesars using the Bally’s brand is in Las Vegas, and Twin River will allow Caesars to continue using the Bally’s name for that property only, in perpetuity.
Twin River will change its own name and rebrand “virtually all” of its existing properties, which includes eleven casinos, a racetrack, and multiple off-track betting parlors under the Bally’s brand. It is expected to launch a Bally’s-branded mobile sportsbook in the near future. Twin River completed market access deals with Australian bookmaker PointsBet and Canadian sports media company TheScore, who have sportsbooks up and running in New Jersey.
Twin River plans to buy the Eldorado Shreveport Resort and Casino in Louisiana, and the MontBleu Resort Casino in Nevada from Caesars in early 2021. Twin River owns the only two casinos in Rhode Island, where it has sports betting in a partnership with the Rhode Island lottery. Twin River has three casinos in Colorado where it is a land-based partner for DraftKings and FanDuel online betting sites.
With all of its business moves, Twin River looks to make the iconic Bally’s brand a huge player to be recognized in the online gambling market in the coming years.