Filed
by Twin River Worldwide Holdings, Inc.
Form
S-4 (File No. 333-228973)
Pursuant
to Rule 425 under the Securities Act of 1933, as amended
Deemed
filed under Rule 14a-12 of the Securities Exchange Act of 1934, as amended
Subject
Company: Dover Downs Gaming & Entertainment, Inc.
Commission
File No.: 001-16791
DOVER DOWNS SPECIAL MEETING
TO APPROVE MERGER WITH TWIN RIVER SCHEDULED FOR MARCH 26, 2019
February
8, 2019: Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE) and Twin River Worldwide Holdings, Inc. today announced
that Twin River’s registration statement containing the Dover Downs proxy statement in respect of the merger with Twin
River had been declared effective by the Securities and Exchange Commission (the “SEC”) and that the special
meeting of Dover Downs stockholders to consider the merger had been scheduled for 8:00 am, Eastern time, on March 26,
2019, 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.
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 entertainment categories, including regional, destination and resort
environments. 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.
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.
Additional Information and Where
to Find It
In connection with the proposed transaction,
Twin River filed a registration statement on Form S-4 (File No. 333-228973) with the SEC that includes a combined proxy statement/prospectus.
The registration statement was declared effective by the SEC on February 8, 2019, and a definitive proxy statement/prospectus is
expected to be sent to each Dover Downs stockholder entitled to vote at the special meeting in connection with the proposed transaction
on or about February 13, 2019. This communication is not a substitute for any proxy statement, registration statement, prospectus
or other documents Dover Downs and/or Twin River may file with the SEC in connection with the proposed transaction. INVESTORS ARE
URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE DOCUMENTS, ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS AND OTHER DOCUMENTS
FILED BY DOVER DOWNS OR TWIN RIVER WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT
INFORMATION. Investors are able to obtain free copies of these materials and other documents filed with the SEC by Dover Downs
and/or Twin River through the website maintained by the SEC at www.sec.gov. Investors are also able to obtain free copies of the
documents filed by Dover Downs and/or Twin River with the SEC from the respective companies by directing a written request to Dover
Downs at Dover Downs Gaming & Entertainment, Inc., 1131 North DuPont Highway, Dover, Delaware 19901 or by calling (302) 857-3292,
or contact Twin River at Twin River Worldwide Holdings, Inc., 100 Twin River Road, Lincoln, RI 02865 or by calling (401) 475-8474.
No Offer or Solicitation
This communication is for informational
purposes only and not intended to and does not constitute an offer to subscribe for, buy or sell, the solicitation of an offer
to subscribe for, buy or sell or an invitation to subscribe for, buy or sell any securities or the solicitation of any vote or
approval in any jurisdiction pursuant to, or in connection with, the proposed transaction or otherwise, nor will there be any sale,
issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities will be made
except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities
Act”), and otherwise in accordance with applicable law.
Participants in the Solicitation
This communication is not a solicitation
of a proxy from any investor. Dover Downs, Twin River, their respective directors, executive officers and other members of their
management and employees may be deemed to be participants in the solicitation of proxies from stockholders of Dover Downs in connection
with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in
the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests,
by security holdings or otherwise, are set forth in the relevant materials filed with the SEC. Information regarding the directors
and executive officers of Dover Downs is contained in Dover Downs’ definitive proxy statement in respect of the merger, its
proxy statement for its 2018 annual meeting of stockholders, filed with the SEC on March 29, 2018, its annual report on Form 10-K
for the year ended December 31, 2017, which was filed with the SEC on March 1, 2018, its quarterly report on Form 10-Q for the
quarter ended September 30, 2018, which was filed with the SEC on November 8, 2018 and certain of its current reports filed on
Form 8-K. These documents can be obtained free of charge from the sources indicated above.
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 proposed 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.
Media Contact
Twin River
Stephen H. Capp – EVP and Chief Financial Officer
(401) 475-8474
Patti Doyle
Patti.doyle@gmail.com
(401) 374-2553
Dover Downs:
Timothy R. Horne – Sr. Vice President –
Finance
(302) 857-3292
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