Twin River Worldwide Holdings is to rename a number of its properties after acquiring the Bally’s brand from Caesars Entertainment.
The brand, described as “iconic” by the operator, will allow it to retain the Bally’s brand at the Atlantic City property it acquired from Caesars and real estate investment trust Vici Properties for $25m in April this year.
Furthermore, the brand and logo will now be rolled out across multiple properties across the US. Exactly which properties will rebrand as Bally’s venues have not been revealed, while the financial terms of the deal have not been disclosed.
Caesars’ Las Vegas property, Bally’s Las Vegas Hotel & Casino, will retail use of the brand, though a perpetual license agreement.
It comes in the wake of significant M&A moves for both Caesars and Twin River.
Twin River has significantly expanded its property portfolio through a number of acquisitions. In July it completed the acquisition of Eldorado Resorts’ Isle of Capri Casino in Kansas City, Missouri and the Lady Luck Casino in Vicksburg, Mississippi.
It is also in the process of acquiring Eldorado Shreveport Resort and Casino in Louisiana and the Mont Bleu Casino Resort & Spa in Lake Tahoe, Nevada for $155m, with those deals announced alongside the Bally’s Atlantic City purchase in April.
It followed this with an $120m deal for Delaware North’s Jumer’s Casino & Hotel property in Illinois earlier this month.
Caesars, meanwhile, was only formed in July this year through the merger of Caesars Entertainment Corporation and Eldorado Resorts, forming the largest US casino operator.
The business has already pursued expansion plans with a $3.7bn deal for British operator William Hill, which will see it acquire the business outright, then sell off its operations outside its core US market.