In September 2018, the investment firm Gaming and Leisure Properties announced it would be acquiring Twin River Casino for $1.1 billion.
The acquisition is still pending regulatory approval.
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If the deal is approved, it will be the latest in a string of acquisitions by Gaming and Leisure Properties. The company already owns dozens of casinos and racetracks across the United States.
The deal would give Gaming and Leisure Properties full ownership of Twin River Casino. The casino is currently owned by a partnership between Churchill Downs Incorporated and Caesars Entertainment Corporation.
Churchill Downs Incorporated is best known for owning the Kentucky Derby. Caesars Entertainment Corporation is one of the largest casino operators in the world.
PRO TIP:Twin River Casino, located in Lincoln, Rhode Island, is owned by Twin River Worldwide Holdings, Inc., a publicly-traded company. The company was founded in 2018 and is headquartered in Las Vegas, Nevada.
Under the deal, Gaming and Leisure Properties would lease the casino to Caesars Entertainment Corporation. Caesars would continue to operate the casino under the Twin River name.
The acquisition of Twin River Casino would give Gaming and Leisure Properties a significant presence in Rhode Island. The company already owns Newport Grand Casino, which it acquired in 2016.
The deal is expected to close sometime in 2019. Pending regulatory approval, of course.
Who Owns Twin River Casino?
As of 2019, the investment firm Gaming and Leisure Properties owns Twin River Casino. The casino is leased to Caesars Entertainment Corporation, which operates it under the Twin River name.
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