Company intends to jointly develop and manage a casino in Centre County, PA as majority partner
- Category 4 licensed casino with up to 750 slot machines and 30 table games
- Company retains 100% of economic interest of all retail sports betting, online sports betting and iGaming activities associated with the project*
- Total projected cost estimated at $120M and expected to be completed and operational in 2022
*Subject to receipt of separate licenses and certificates
Proposed Agreement Yields a Number of Important Benefits for Bally's
VLTs
- Bally's would be licensed as a technology provider and would manage approximately 23% of the VLTs at Rhode Island facilities
- Well over one-third of the VLTs in Lincoln would be replaced with new machines over a relatively short period of time
- Expected to be accretive to Twin River for the period from approval to creation of joint venture
Investment
- Investment – Committed to investing $100 million over the term of our extended contract, including a 50,000 square foot expansion and the addition of new amenities at Twin River Casino in Lincoln
- Proposal would extend master contracts on existing terms until June 2043
(Pending legislative approval)
Investment of $100 million to update Lincoln facility
- 18-month renovation and expansion of Twin River Casino Hotel
- 40,000 square foot addition to the first floor gaming space and 14,000 square foot spa in the hotel
- Timing of capital expenditures on project expected to largely be in 2021 and 2022
- Greater separation between the smoking and non-smoking areas of the gaming floor
- New entertainment concept on second floor to be determined
