Betting News

Jumer’s Casino & Hotel Acquired by Bally’s Corporation

On June 14, 2021, the US i-Gaming and fully integrated sports betting company, Bally, announced that it had finalized the acquisition of Jumer’s Casino & Hotel from Delaware North Companies Gaming &Entertainment Inc.

The purchase price of this acquisition is estimated at $120 million, which the company funded using its available borrowing under its revolving credit facility.

Bally’s Corporation is a US sports betting and i-gaming company that follows a B2B2C business model. They currently own 14 casinos across ten states, a horse racetrack, and 13 authorized OTB licenses in Colorado; along with these, they also own online sports betting sites such as Bet.Works, a first-in-class sports betting platform, Monkey knife fight, the fastest growing daily fantasy sports site in North America, and Sports Caller, a leading Global B2B free-to-play game.

The company operates with more than 6,000 employees; the pro forma for pending acquisitions includes 15,558 slot machines, 465 table games, and 5,355 hotel rooms.

Earlier this month, the US-based i-Gaming company also announced that they acquired Tropicana Evansville in Indiana and Tropicana Las Vegas, which would allow them to own and control 16 casinos across 11 states.

Last November, Bally’s also agreed with Elite Casinos to offer Mobile sports betting in Iowa.

According to the reports published by the IGB, Jumer’s average revenue per admission of $95.02 is ranked 9th among the state’s ten casinos.

In May alone, Jumer’s Casino generated nearly $3.8 million revenue, more than 95% of its revenue of $14.7 million for this year has come from electronic gaming (EGD). 

As Illinois has entered phase 5 of its covid mitigation measures, Jumer’s has been running on 100% capacity since June 11, 2021.

Along with Bally’s, Fruchter also obtained the Master Sports Wagering License on Wednesday for the Harrah’s Casino in Joliet and Metropolis, making all ten existing casinos in the state-licensed for sports wagering.

It has also been reported that Harrah’s Joliet agrees with theScore for its mobile sports wagering skin. However, the Canadian sports wagering company has yet to apply for a Management Service Provider License. 

John Scott

John Scott joined the Times of Casino’s team as a news writer. He previously worked with foremost publications as an intern. He holds bachelor of journalism degree and more than three years of experience of writing. In his free time, he enjoys travelling different places.

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