Churchill Downs seals $407m deal for Rivers Casino

Churchill Downs Incorporated has expanded its gambling portfolio with the purchase of Rivers Casino in Des Plaines, Illinois.

RealMoneyCasinoSites.com reported last week that the racetrack operator was close buying a majority stake in Midwest Gaming Holdings, the casino’s parent company.

That deal is now done, with Churchill Downs owning 50.1 per cent of the company for a cost of around US $407 million.

Midwest Gaming CEO Greg Carlin said last month that his firm was delighted to partner up with an organisation that has gone from strength to strength in recent years.

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“It has a tremendous record of success and innovation,” he continued.

“With their representation on our board of managers, we’re confident Rivers will remain one of the most successful casino destinations in North America.”

Churchill Downs is best known for its flagship racecourse in Louisville where the Kentucky Derby is run every May.

The company also owns Arlington International, which is only a short drive from Des Plaines, along with tracks in Florida, Louisiana, Maryland, Ohio and Pennsylvania.

Other dedicated gambling halls in the Churchill Downs family include Oxford Casino in Maine and Harlow’s Casino Resort in Mississippi.