Lady Luck has a new owner


Lady Luck Casino Vicksburg has a new owner: Twin River Worldwide Holdings, Inc.

Thursday, Twin River acquired the Vicksburg casino and the Isle of Capri Casino Kansas City from Eldorado Resorts, Inc. The purchase price of the acquisition was $230 million.

Lady Luck Vicksburg is located along the Mississippi River in Vicksburg. The 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.

Isle of Capri Casino Kansas City in Kansas City, Missouri, overlooks the Missouri River near downtown Kansas City and the Berkeley Riverfront. The property consists of approximately 40,000 square feet of casino space, 939 gaming machines, 13 table games and two dining venues. It is located at a premier location on the riverfront near downtown and is readily accessible to suburban traffic.

“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,” George Papanier, president and CEO of TRWH said in a statement.

“These properties expand our geographic footprint with assets into very attractive markets. In particular, in Kansas City, where the property lies within an area near downtown that has been targeted by local officials for development, we feel there is opportunity for capital investment in the property. We also see significant opportunities to create cross marketing connections for customers at multiple Twin River locations nationwide.”

These acquisitions closed just months after TRWH announced their plans to also acquire Eldorado Shreveport Resort and Casino in Shreveport, Louisiana, and the Mont Bleu Resort Casino & Spa in Lake Tahoe, Nevada, for an aggregate purchase price of $155 million. Separately, the company has entered into an agreement with Caesars Entertainment Corporation and Vici Properties Inc. to acquire Bally’s Atlantic City Hotel & Casino for $25 million in cash.

All together, these acquisitions significantly expand Twin River’s footprint into four additional U.S. states. The five new properties combined contain 4,860 slots, 2,181 hotel rooms and 189 tables. After acquisition of these properties, the Company will operate 12 properties in eight states.

Paul Avery, vice president and general manager at Lady Luck Casino Vicksburg will continue in his role at Casino Vicksburg. Tony Rohrer, vice president and general manager at Isle of Capri Casino Kansas City will continue to oversee operations at Casino KC.