Hard Rock Casino In Biloxi, Mississippi SoldCasinos Sells For $250 Million To Rhode Island Company |
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Twin River Worldwide Holdings announced Sunday that they will purchase the Hard Rock Hotel & Casino in Biloxi, Mississippi for $250 million.
The Rhode Island-based gaming company also owns the Twin River Casino in Lincoln and says the purchase is being made to “brace for the eventual impact of Massachusetts casinos and racinos,” which will put a dent in their business as early as late 2014.
“We now have the opportunity to broaden our focus to other markets which offer the opportunity for growth and we see Mississippi in general and this property in particular as having exceptional value,” said Twin River Chairman John Taylor.
The Hard Rock is currently in the middle of constructing a 154-room hotel tower and expects to be finished by February. Twin River expects the sale of the property to be completed by June.
Mississippi has 30 operational gaming properties consisting of both dockside and land-based casinos and took in $2.251 billion last year in revenue, making it the sixth largest gaming market in the United States behind Nevada, Pennsylvania, New Jersey, Indiana and Louisiana.
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