Lady Luck Casino has a new owner

Vicksburg’s Lady Luck Casino will soon be under new management.

Twin River Worldwide Holdings, Inc. announced yesterday that it has entered into a definitive agreement to acquire the operations and real estate of two casinos, the Lady Luck Casino here in Vicksburg and the Isle of Capri Casino Kansas City in Kansas City, Mo. Twin River is purchasing both properties from Eldorado Resorts, Inc. for $230 million in cash.

“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans,” George Papanier, president and CEO of Twin River said in a statement. He added, “This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,”

The Lady Luck Casino property features approximately 25,000 square feet of casino space, 603 slot machines, eight electronic table games, three dining venues and an 89 room hotel.

Twin River Worldwide Holdings, Inc., owns and manages four casinos: two in Rhode Island, one in Mississippi (the Hard Rock Hotel & Casino in Biloxi), and one in Delaware, as well as a Colorado horse race track that has 13 authorized OTB licenses.