Delaware North Cos., the Buffalo, New York-based hospitality company, agreed to buy an Illinois casino for $180 million.
The purchase of the Jumer's Casino & Hotel in Rock Island from closely held Rock Island Boatworks Inc. is subject to approval by the Illinois Gaming Board, the companies said today in a statement.
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The casino opened in December 2008 and has more than 1,100 slot machines and 24 table games, a poker room and a 205-room hotel and spa. It replaced a riverboat casino the Jumer family had owned since 1992, according to the statement.
Delaware North owns and operates casinos in New York, Florida, Arkansas and West Virginia, and provides hospitality and food service at the Choctaw Casino Resort in Oklahoma. In October 2008, the company was chosen to redevelop Aqueduct Racetrack and operate New York City's first slot machine-style "racino." Delaware North had to give up that license when it failed to obtain required credit amid the financial crisis.
Innovations Capital LLC served as financial adviser to Rock Island Boatworks.