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Churchill Downs Acquires Majority Stake throughout Rivers Online casino Des Plaines

Churchill Downs Acquires Majority Stake throughout Rivers Online casino Des Plaines

Churchill Downs receives ‘crown gem of Illinois gaming’ inside latest acquisition deal around the US land-based casino space or room

Gambling enterprise Churchill Lows Incorporated released on Friday that it offers reached an arrangement to order a majority spot in ArrĂȘters Casino Des Plaines inside Des Plaines, Illinois. The actual transaction requires Churchill Downs’ acquisition of ‘certain of the possession interests’ for Midwest Game Holdings, mom or dad company belonging to the gaming wedding venue.

Rivers Online casino Des Plaines first opened doors this years. The property is two stretches from O’Hare International Airport, it is thus competent to benefit from home and worldwide passenger traffic at one of the busiest PEOPLE airports. The particular casino consists of 44, 000-square-foot gaming surface with close to 1, 000 slot machines and also 58 scratch cards as well as a number of food and cocktail facilities and an event hub.

Under the terms of the deal, Churchill Downs may assume owners of at a minimum 50. 1% of Midwest Gaming and will eventually pay around $500 huge number of in hard cash to complete the particular transaction. Churchill Downs features thus consented to buy completely of the control stake during the Des Plaines-based casino’s father or company through Clairvest Set affiliates as well as co-investors pertaining to $291 zillion and additional devices of Midwest Gaming right now owned simply by High Plaines Gaming, an affiliate of main gambling collection Rush Road Gaming, which will result in a cash consideration about no less than $326 million. Read more