Twin River secures $275m ahead of Eldorado acquisitions
Twin River Worldwide Holdings announced it has secured $275m in additional funding ahead of its acquisition of Eldorado Shreveport Resort and Casino and the MontBleu Resort Casino & Spa.
Twin River said it syndicated an expansion to the term loan facility in its existing bank credit agreement.
The Rhode Island-based gaming company plans to repay $250m of revolving credit borrowings.
Twin River reported it had in excess of $385m cash on hand as of 31 March, 2020 and $250m of revolving credit borrowing capacity.
George Papanier, President and Chief Executive Officer, said: “While we remain optimistic about reopening, this additional financing ensures we have the financial resources necessary to continue funding operations, servicing our obligations, and pursuing organic and strategic growth opportunities through the COVID-19 crisis.”
Twin River owns and manages seven casinos across four states.
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