Dover Downs Gaming & Entertainment, Inc. and Rhode Island-based Twin River Worldwide Holdings, Inc. announced that a special meeting of Dover Downs stockholders will consider the merger at 8 am Eastern on March 26 at the Dover Downs Hotel & Casino.
Dover Downs stockholders of record at the close of business on February 5, 2019 may vote at the meeting. Subject to the receipt of stockholder approval and the satisfaction of other conditions including regulatory approvals as set forth in the parties’ SEC filings, the merger is expected to close shortly following the special meeting.
Dover Downs has a casino, hotel and conference center in Delaware’s capital city. Harness racing is also offered at the complex. The company posted a small profit in 2018 as sports betting and a lower revenue sharing percentage from the state offset a decline in harness racing proceeds.
The stock market value of Dover Downs is $85 million
Twin River owns and manages two casinos in Rhode Island and one in Mississippi, as well as a Colorado horse race track that possesses 13 off track betting licenses. Properties include Twin River Casino Hotel (Lincoln, RI), Hard Rock Hotel & Casino.
Its casinos range in size from 1,100 slots and 32 table games facilities to properties with 4,200 slots and 115 table games, along with hotel and resort amenities. Twin River’s headquarters are located at 100 Twin River Road, Lincoln, RI 02865.
The AAA-rated Four Diamond hotel is Delaware’s largest with 500 luxurious rooms/suites and amenities including a full-service spa/salon, concert hall and 41,500 sq. ft. of multi-use event space. Live, world-class harness racing is featured November through April, and horse racing is simulcast year-round. Additional property amenities include multiple restaurants from fine dining to casual fare, bars/lounges and retail shops. For more information, please visit www.doverdowns.com.
