It took close to a year, but the merger between Dover Downs Gaming & Entertainment (DDGE) and Rhode Island-based Twin River Worldwide Holdings has finally been consummated. The two entities initiated discussions on a possible deal last July and a special shareholder meeting for DDGE was scheduled for this month in order to give those shareholders a vote on the merger. That vote took place this past Tuesday, and everything is full steam ahead.
The final signing of the merger will take place today. There was overwhelming support for the deal, according to a joint press release from the two companies, and over 99% of “votes cast were in favor of the merger.” After the deal is signed today, Twin River will become the parent company to the Dover Downs Hotel & Casino in Dover, Delaware.
DDGE is currently traded publicly on the New York Stock Exchange. Upon completion of the merger, it will be delisted from the exchange and Twin River will go public under the ticker symbol TRWH. The new entity should be listed as soon as tomorrow if the merger signing stay on schedule.
Twin River will gain important expansion of its presence in the U.S. mid-Atlantic region through the Dover Downs property. That venue now operates almost 2,200 slot machines and a plethora of table games, and recently added a sportsbook that allows single-game wagers on professional and collegiate sports competitions.