DOVER, Del., March 26, 2019 /PRNewswire/ -- Dover Downs
Gaming & Entertainment, Inc. (NYSE: DDE) and Twin River
Worldwide Holdings, Inc. have announced that Dover Downs received
the required vote of Dover Downs stockholders to approve the
proposed merger of Dover Downs and Twin River at today's special
meeting and that the parties expect to close the transaction on
March 28, 2019. Over 99% of the votes
cast were cast in favor of the merger. A "majority of the minority"
of stockholders also approved the merger.
Upon completion of the merger, Dover Downs will become a
wholly-owned subsidiary of Twin River, and all outstanding shares
of Dover Downs common stock and class A common stock will be
converted into the right to receive shares of Twin River common
stock (with cash in lieu of fractional shares). In addition, Dover
Downs common stock will cease trading on, and be delisted from, the
New York Stock Exchange ("NYSE"), and Twin River's common stock
will be listed on the NYSE under the symbol "TRWH" and begin
trading on March 29, 2019.
About Twin River
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
OTB licenses. Properties include Twin River Casino Hotel
(Lincoln, RI), Hard Rock Hotel
& Casino (Biloxi, MS),
Tiverton Casino Hotel (Tiverton,
RI) and Arapahoe Park (Aurora,
CO). Twin River's expertise spans various casino markets,
including regional, destination and resort environments. Its
casinos range in size from 1,000 slots and 32 table games
facilities to properties with 4,200 slots and 123 table games,
along with hotel and resort amenities.
About Dover Downs
Owned by Dover Downs Gaming & Entertainment, Inc. (NYSE:
DDE), Dover Downs Hotel & Casino® is a premier gaming and
entertainment resort destination in the Mid-Atlantic region. Gaming
operations consist of approximately 2,200 slots, a full complement
of table games, including poker, and a newly expanded race and
sports book taking single game wagers on professional and college
sports. 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.
Caution Concerning Forward-Looking Statements
This communication contains "forward-looking" statements as that
term is defined in Section 27A of the Securities Act and Section
21E of the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995, including
statements regarding the transaction between Dover Downs and Twin
River and other corporate actions. All statements, other than
historical facts, including statements regarding the expected
timing of the proposed transaction, the ability of the parties to
complete the proposed transaction considering the various closing
conditions and any assumptions underlying any of the foregoing, are
forward-looking statements.
Forward-looking statements concern future circumstances and
results and other statements that are not historical facts and are
sometimes identified by the words "may," "will," "should,"
"potential," "intend," "expect," "endeavor," "seek," "anticipate,"
"estimate," "overestimate," "underestimate," "believe," "could,"
"project," "predict," "continue," "target" or other similar words
or expressions. Forward-looking statements are based upon current
plans, estimates and expectations that are subject to risks,
uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. The inclusion of
such statements should not be regarded as a representation that
such plans, estimates or expectations will be achieved.
Any forward-looking statements speak only as of the date of this
communication. Neither Dover Downs nor Twin River undertakes any
obligation to update any forward-looking statements, whether as a
result of new information or development, future events or
otherwise, except as required by law. Readers are cautioned not to
place undue reliance on any of these forward-looking
statements.
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SOURCE Twin River Worldwide Holdings, Inc.