Dover Downs proprietor transfer to Bally’s model
Dover Downs owner Twin River Worldwide Holdings, effective Nov. 9, will change its name to Bally’s Corporation.
The name change for the Rhode Island-based company comes with the purchase of the Bally’s casino in Atlantic City, NJ. Twin River is the name of the company’s original casino in Rhode Island.
Soo Kim, chairman of the company’s board of directors, said, “The Bally’s brand embodies a rich history in American gaming and entertainment, aligns perfectly with our current and future growth strategy and is ripe with untapped innovation potential to help us launch future entertainment services. We thank Caesars Entertainment for entrusting us with one of the industry’s most iconic brands.”
Caesar’s, which is selling the Bally’s Atlantic City casino to Twin River, will retain its well-known resort in Las Vegas. However, the sale of the brand increased speculation that the Vegas casino might be for sale.
Twin River will also use the Bally’s brand for a sports betting operation.
Caesars has been acquired by regional casino operator Eldorado. In reducing the debt load from the deal, the company is selling off casinos that include Bally’s in Atlantic City.
Over the coming months, the company can rebrand its casinos under Bally’s name.
Once all pending transactions are closed, the company will operate 14 casinos, a racetrack and 13 off-track betting operations in ten states.
The company’s footprint will allow it to serve over 80 million customers that reside within the markets of its 14 casinos.
In addition, the customers in the company’s database will increase to approximately 14 million players. After the closing of all announced acquisitions, the company will have about 16,000 slot machines, 550 table games and in excess of 3,900 hotel rooms.
George Papanier, CEO, commented, “This is an exciting and transformative moment for our company as we unite the high-quality customer offerings that span our increasingly national footprint under a singular preeminent brand. The Bally’s brand is core to our drive to become the first omnichannel gaming company to seamlessly integrate and operate physical casinos with digital solutions. We remain committed to employing our disciplined acquisition strategy, and leveraging regulatory incumbency as well as our retail customer database, to take advantage of the incredible growth potential that an online future offers.”
Prior to the pandemic, Twin River had stated that Dover Downs was performing above expectations. Dover Downs had been running at a break-even point under the previous owner.
Other properties include Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Casino Vicksburg (Vicksburg, MS), Dover Downs Hotel & Casino, Casino KC (Kansas City, MO), Golden Gates Casino (Black Hawk, CO), Golden Gulch Casino (Black Hawk, CO), Mardi Gras Casino (Black Hawk, CO), and Arapahoe Park racetrack (Aurora, CO).