Twin River Worldwide Holdings, Inc., on Tuesday said it has purchased the iconic Bally's brand from Caesars Entertainment, Inc.
Twin River previously had bought the Bally’s casino in Atlantic City from Caesars. The new agreement means Twin River can rebrand “virtually all” of its portfolio properties under the Bally's name and logo, the company said in a statement.
Under terms of the agreement, Twin River will provide Caesars Entertainment a perpetual license to use the Bally's brand at its existing Bally's Las Vegas Hotel & Casino property.
Financial terms of the deal were not disclosed.
Twin River Worldwide Holdings, Inc., is based in Lincoln, Rhode Island. It owns and manages nine casinos: two in Rhode Island, two in Mississippi, one in Delaware, one in Missouri and three casinos as well as a horse racetrack that has 13 authorized OTB licenses in Colorado.