The Las Vegas-based gaming company, Affinity Gaming, announced completing the sale of 3 Colorado casinos. The deal included the Golden Gates, the Golden Gulch, and the Mardi Gras casinos.
The three properties which are located in Black Hawk, Colorado were purchased by Twin River Worldwide Holdings for approximately $151 million.
Chief Executive Officer of Affinity Gaming, Mary Beth Higgins stated, “We are pleased to complete the sale of these three casino properties as we sharpen our focus on Affinity’s other key markets in Nevada and the Midwest.”
“We remain committed to driving sustainable, long-term growth, while further enhancing Affinity as a local casino leader by continually improving the customer and guest experience at our properties,” she added.
Affinity and the new deal
Affinity Gaming is a casino gaming company which develops its own casino properties equipping it with the trending games and luxuries such as bar and restaurant. Affinity operates 7 casinos which are located in the states of Nevada, Missouris, and Iowa.
The company purchased the 3 casinos back in 2012 and since then they have done multiple renovations and upgrades to the spaces.
Currently, the casinos offer 36,000 total square feet of gaming space, 20 table games, 700 slots, and a per parlour. The three casinos also include restaurants and bars as well as a huge parking space that can accommodate up to 700 cars.
The new owners
The three casinos were purchased by Twinn River Worldwide Holdings which is a Rhode Island-based casino company.
The gaming company as formed in 2004 as a joint venture of Starwood Capital Group, Kerzner International, and the Waterford Group.
Last year the company completed a reverse merger with Dover Downs Gaming & Entertainment, the parent company of Dover Downs Hotel & Casino. This made Twin River a public company which is traded on the New York Stock Exchange.
Twin River is making very solid steps in the gambling industry as they recently bought two casinos in Missouri and Mississippi.
“We are pleased with the Company’s results in the quarter as the financial performance at Dover exceeded our already high expectations. Rhode Island operations performed well despite some softness in the New England gaming markets in the second quarter,” said George Papanier, President and Chief Executive Officer during in August 2019.
“Our emphasis of focusing on in-market and out-of-market accretive growth is also proving itself in the early going as we continue to grow prudently into a multi-state operator based in Rhode Island versus a single regional operator.”
It is noteworthy the mention that Two of the country’s Sportsbooks will be debuting in Colorado as the company announced separate market access partnerships with DraftKings Inc. and FanDuel Group, giving sports fans in Colorado access to award-winning sportsbook products.
This will partnerships combined with Twin River Worldwide Holdings’ experience in gaming and casino operations will surely help the company to create unique and diverse experiences for their guests.