Churchill Downs Inc. Making Move For Majority Ownership of Rivers Casino in Des Plaines
Churchill Downs Inc.’s has proposed the deal for majority ownership for the Rivers Casino in Des Plaines.
Citing sports betting as a reason the Churchill Downs intends to expand its Chicago-area presence beyond Arlington Park Racecourse.
Churchill Downs was seemed in taking interest for acquiring the parent company of the Rivers Casino. The Rivers Casino ( whose 50.1 is seemed to be acquired by the Churchill Downs soon enough ) is under the parent company Midwest Gaming Holdings. Churchill Downs interest may make it acquire 50.1 percent of the Midwest Gaming Holdings.
Churchill Downs is also expects to pay at least $326 million cash to investment groups for the majority stake
We are thrilled to have Churchill Downs become our partner in Des Plaines, because they share our vision for the future of Rivers Casino and our commitment to our team members, community and guests,Greg Carlin, CEO of Midwest Gaming
Greg Carlin, the CEO of Midwest Gaming and it’s parent Rush Street Gaming said that they were happy of the Churchill Downs acquiring the River Casino as they believe the Churchill Downs has a history of innovation and success. He believes, Rivers Casino will remain one of the most successful casino destinations in North America.