The New York State Gaming Commission has granted unanimous approval for Churchill Downs Incorporated (CDI) to acquire a casino license for the Del Lago Resort and Casino in Tyre, New York. This acquisition was a part of CDI’s buyout of Peninsula Pacific Entertainment (P2E) and is valued at an impressive $2.5 billion. The purchase includes other P2E properties, such as the Hard Rock Hotel & Casino in Sioux City, Iowa, Colonial Downs Racetrack in New Kent County, Virginia, and six Rosie’s Gaming Emporium facilities in Virginia. As a renowned owner of the prestigious Kentucky Derby, this move further solidifies CDI’s position in the gaming and entertainment industry.
Expansion of Del Lago Resort and Casino:
The Del Lago Resort and Casino, situated in Waterloo, New York, is an impressive establishment boasting a 96,000 square foot casino equipped with approximately 1,700 slot machines and 80 table games. Moreover, visitors can indulge in the luxury of a 205-room hotel, a 6,000 square foot sportsbook area, a 2,400-seat entertainment venue, and a sprawling 7,200 square foot outdoor event venue. With such extensive offerings, Del Lago Resort and Casino is set to become a premier destination for gaming enthusiasts and entertainment seekers alike.
CDI’s Strategic Buyout:
Churchill Downs Incorporated’s acquisition of P2E’s assets represents a strategic move to expand its foothold in the gambling industry. The purchase includes not only the Del Lago Resort and Casino but also the Hard Rock Hotel & Casino in Sioux City, Iowa, which adds to CDI’s portfolio of premium entertainment destinations. Additionally, the inclusion of Colonial Downs Racetrack in New Kent County, Virginia, presents exciting opportunities for CDI to tap into the world of horse racing and cultivate a diverse audience.
Rosie’s Gaming Emporium Facilities:
As part of the deal, CDI has also acquired six Rosie’s Gaming Emporium facilities in Virginia. These establishments are known for providing a unique gaming experience, featuring historical horse racing machines that appeal to a wide range of players. With this acquisition, CDI gains a strong presence in the Virginia gaming market and furthers its commitment to offering diverse and engaging gaming experiences to its patrons.
Impact on the Gaming Industry:
The unanimous approval from the New York State Gaming Commission underscores the credibility and potential of Churchill Downs Incorporated in the gaming and entertainment sector. The company’s impressive portfolio of properties, including the iconic Kentucky Derby, sets a high standard for excellence and promises exciting developments for the industry.
Churchill Downs Incorporated’s successful acquisition of a casino license for the Del Lago Resort and Casino in Tyre, New York, marks a significant milestone in the company’s expansion efforts. With a diverse range of properties now under its ownership, including the Hard Rock Hotel & Casino in Sioux City, Iowa, and multiple Rosie’s Gaming Emporium facilities in Virginia, CDI is poised to offer top-notch entertainment experiences to its clientele. As CDI continues to evolve and thrive, the gaming and entertainment industry can anticipate a new era of innovation and excellence.