Twin River Worldwide Holdings Announces Partnerships with DraftKings Inc. and FanDuel Group
PROVIDENCE, R.I., Jan. 27, 2020 /PRNewswire/ -- Twin River Worldwide Holdings, Inc. (NYSE: TRWH) today announced separate market access partnerships with DraftKings Inc. and FanDuel Group, giving sports fans in Colorado access to award-winning sportsbook products.
These partnerships combine Twin River Worldwide Holdings’ nationwide experience in gaming and casino operations with market-leading sports betting expertise and globally recognizable brands. Colorado is the fifth state in the United States where the FanDuel Sportsbook platform will be available and is the sixth state to offer the DraftKings’ Sportsbook platform.
As announced last Friday, Twin River Worldwide Holdings completed the acquisition of Golden Gates, Golden Gulch and Mardi Gras casinos in Black Hawk, Colorado. With the completion of this acquisition, Twin River also acquired the right to three sports gaming licenses in Colorado, leading to the creation of these two partnerships. Twin River will retain the third license for its own future use.
“Obtaining the right to three sports gaming licenses in Colorado will expand our footprint in the state well beyond our Arapahoe Park racetrack and off-track betting network,” said George Papanier, President and Chief Executive Officer of Twin River. “These newly-formed partnerships with DraftKings and FanDuel allow us to provide an unmatched sports betting experience to Colorado, not only with their mobile betting access, but also with an exciting DraftKings retail sportsbook location inside one of our newly acquired casinos.”
“Coast to coast, DraftKings is committed to providing states across the country with the ultimate experience in legal sports betting,” said Ezra Kucharz, DraftKings chief business officer. “Twin River is committed to providing exciting, real-time gaming opportunities, and we look forward to working alongside them to introduce Colorado sports fans to our award-winning product.”
“Twin River has been engaged in sports betting since the beginning in Rhode Island and Mississippi, and they are an ideal partner as we continue to enter states that open up online and mobile sports betting,” said Matt King, CEO, FanDuel Group. “Colorado has a sensible framework for sports betting, and we are excited to partner with a renowned gaming company like Twin River to bring our market-leading online sports betting experience to Colorado sports fans.”
About Twin River Worldwide Holdings, Inc.
Twin River Worldwide Holdings, Inc. owns and manages seven casinos, two casinos in Rhode Island, one in Mississippi, one in Delaware, and three casinos as well as a horse racetrack that has 13 authorized OTB licenses in Colorado. Properties include Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Dover Downs Hotel & Casino (Dover, DE), Golden Gates Casino (Black Hawk, CO), Golden Gulch Casino (Black Hawk, CO), Mardi Gras Casino (Black Hawk, CO) and Arapahoe Park racetrack (Aurora, CO). Its casinos range in size from 695 slots and 17 table games combined for Colorado facilities to properties with over 4,100 slots, 125 table games and 48 stadium gaming positions, along with hotel and resort amenities. Its shares are traded on the New York Stock Exchange under the ticker symbol “TRWH.”
DraftKings is a U.S.-based digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with offerings that range across daily fantasy, regulated gaming, and digital media. Headquartered in Boston, and founded in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings’ daily fantasy product is available in 8 countries internationally with 15 distinct sport categories. Launched in 2018, DraftKings Sportsbook offers mobile and retail betting for major national and global sports, and currently operates pursuant to state regulations in Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia. DraftKings is the Official Daily Fantasy Partner of the NFL and PGA Tour as well as an Authorized Gaming Operator of the MLB and NBA.
About FanDuel Group
FanDuel Group is an innovative sports-tech entertainment company that is changing the way consumers engage with their favorite sports, teams, and leagues. The premier gaming destination in the United States, FanDuel Group consists of a portfolio of leading brands across gaming, sports betting, daily fantasy sports, advance-deposit wagering, and TV/media, including FanDuel, Betfair US, DRAFT, and TVG. FanDuel Group has a presence across 45 states and 8.5 million customers. The company is based in New York with offices in California, New Jersey, Florida, Oregon, and Scotland. FanDuel Group is a subsidiary of Flutter Entertainment plc, a leading international sports betting and gaming operator and a constituent of the FTSE 100 index of the London Stock Exchange.
Steve H. Capp
Executive Vice President and Chief Financial Officer
Liz Cohen / Connor Moriarty
This communication contains “forward-looking” statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements, other than historical facts, including future financial and operating results and Twin River Worldwide Holdings’ plans, objectives, expectations and intentions, and legal, economic and regulatory conditions, are forward-looking statements. Forward-looking statements are sometimes identified by words like “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target” or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) unexpected costs, charges or expenses resulting from the implementation of sports betting in Colorado and our partnerships; (2) the possibility that the anticipated operating results and other benefits of sports betting in Colorado and our partnerships are not realized when expected or at all; (3) local risks including proximate competition, potential competition, legislative risks and local relationships; and (4) other risk factors as detailed under Part I. Item 1A. “Risk Factors” of Twin River Worldwide Holdings’ Annual Report on Form 10-K for the fiscal year ended December 31, 2018 as filed with the Securities and Exchange Commission on April 1, 2019.
Any forward-looking statements speak only as of the date of this communication. Twin River Worldwide Holdings undertakes no obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
SOURCE Twin River Worldwide Holdings, Inc.