Dover Downs Gaming & Entertainment, Inc. and Twin River Worldwide Holdings, Inc. announced on Monday, July 23, that they have entered into a definitive merger agreement.
The merger would give Twin River a new market. Twin River already operates assets in the South (Biloxi, Miss.), West (Aurora, Col.) and Northeast (Lincoln and Tiverton, R. I. Island [opening shortly]) regions.
The proposed transaction will transform Twin River into a publicly-traded company with strategically placed gaming and entertainment holdings throughout the United States. As a condition to closing, Twin River will register its shares with the Securities and Exchange Commission and list the shares on the NYSE or NASDAQ.
Dover Downs' president and CEO, Denis McGlynn stated, "Becoming part of Twin River is transformational for us. We have been impressed with the depth and talent of the Twin River organization and their operational capabilities. We believe this transaction will help us grow our business, invest in our people and our facilities and compete more effectively given changes in gaming on the horizon. We expect to see many positive benefits for the State, the Delaware Lottery and our employees and stockholders." (Dover Downs)