Bally's buys Jumer's Casino in Rock Island
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Jumer's Casino and Hotel in Rock Island has been sold to Bally's Corporation for $120 million. The transaction closed on Monday.
Jumer's parent company Delaware North Companies Gaming & Entertainment, Inc., initiated the sale last fall with Twin River Worldwide Holdings Inc., which changed its name to Bally's Corporation in November.
"As the latest step in our ongoing portfolio diversification strategy, we are excited to complete our acquisition of Jumer's and enter the rapidly growing Illinois gaming market," said George Papanier, president and chief executive officer of Bally's Corporation in a release. "The closing provides Bally's with the potential to capitalize on several lucrative sports betting opportunities, which we expect will drive revenue and cash flow growth.
"We are pleased to welcome Jumer's into the Bally's family, and look forward to leveraging our expertise to enhance the property's operations," Papanier said.
Bally's Corporation currently owns and manages 14 casinos across 10 states and a horse racetrack in Colorado. The company employs more than 6,000 people and its operations include 15,558 slot machines, 465 table games and 5,355 hotel rooms.
Jumer’s got into the casino business in 1992 when it became one of the first riverboat casinos to operate in Illinois. The current casino complex was constructed by Jumer's in 2008 at the intersection of I-280 and Highway 92. Delaware North acquired it from the Jumer family in 2011.
The 205-room hotel has with 11 luxury suites, an indoor pool, fitness center, an events center with meeting rooms for up to 600 people, four restaurants, a sports bar, nightclub, driving range and lakeside fire pit. The 40,000-square-foot casino has more than 870 slot machines and 25 table games, as well as a live poker room, high-limit slot area and a VIP lounge.
