It provides access to a growing gaming market in Illinois, with the potential to capitalize on potentially lucrative sports betting opportunities.

'This acquisition further expands our geographic reach into yet another attractive market. 'Even in the current operating environment amid COVID-19, we advance our disciplined portfolio diversification strategy as we continue to opportunistically expand our regional presence through accretive transactions,' commented George Papanier, President and Chief Executive Officer of Twin River. The company expects to finance the purchase price with a combination of cash on hand, cash from ongoing operations, and borrowings under its revolving credit facility. Based on Jumer's Adjusted EBITDA for the year ended December 31, 2019, the acquisition is expected to be immediately accretive to earnings. The multiple excludes the impact of any potential cost synergies or possible revenue enhancement opportunities from operational improvements. The total consideration for the transaction represents an implied proforma purchase multiple of approximately 7.4x trailing twelve months earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA) for the period ended December 31, 2019. Twin River Worldwide Holdings announced on Thursday that it has entered into an agreement with Delaware North Companies Gaming & Entertainment to acquire Jumer's Casino & Hotel in Rock Island, Illinois for a purchase price of $120 million in cash. Jumer's is located in the Quad Cities in Rock Island and features a 40,000 square foot casino floor containing more than 870 slot machines and 25 table games, a 205 room hotel with 11 luxury suites, an events center, the Oculus Sports Bar, the Edje nightclub and four restaurants.

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