Casino operator Twin River Worldwide Holdings (TRWH) has bought into the Illinois market with an eye towards cashing in on the state’s growing sports betting market.

On Thursday, TRWH announced a $120m cash deal with rival Delaware North Companies Gaming & Entertainment to acquire the latter firm’s Jumer’s Casino & Hotel in Rock Island, Illinois. TRWH expects the deal to close in Q2 2021, subject to regulatory approvals and other closing conditions.

Jumer’s (pictured) has a 40k-square-foot gaming floor with 870 slots, 25 gaming tables, a 205-room hotel, as well as an event center, sports bar, nightclub and four restaurants. The deal price represents a multiple of approximately 7.4x trailing earnings for 2019 and TRWH expects the property to be immediately accretive to earnings.

The deal would boost TRWH’s growing casino empire to 13 properties across nine states, and TRWH CEO George Papanier said the company would continue to “opportunistically expand our regional presence” despite lingering uncertainty caused by the COVID-19 pandemic.