{"id":61,"date":"2024-06-12T11:31:58","date_gmt":"2024-06-12T08:31:58","guid":{"rendered":"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/12\/churchill-downs-incorporated-expands-footprint-with-2-75-billion-acquisition-of-peninsula-pacific-entertainment-holdings\/"},"modified":"2024-06-13T12:00:11","modified_gmt":"2024-06-13T09:00:11","slug":"churchill-downs-incorporated-expands-footprint-with-2-75-billion-acquisition-of-peninsula-pacific-entertainment-holdings","status":"publish","type":"post","link":"https:\/\/secretnodepositbonuscodes.icu\/2024\/06\/12\/churchill-downs-incorporated-expands-footprint-with-2-75-billion-acquisition-of-peninsula-pacific-entertainment-holdings\/","title":{"rendered":"Churchill Downs Incorporated Expands Footprint with $2.75 Billion Acquisition of Peninsula Pacific Entertainment Holdings"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/enP_70zugv4\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Churchill Downs Incorporated (CDI) recently made a significant impact in the gambling sector by purchasing a majority stake in Peninsula Pacific Entertainment (P2E)&#8217;s holdings for a substantial $2.75 billion. This transaction expands CDI&#8217;s reach throughout the United States, incorporating venues in Virginia, New York, and Iowa into its existing assets.<\/p>\n<p>This acquisition encompasses several prominent names in the business, such as Colonial Downs Racetrack in Virginia, six Rosie&#8217;s Gaming Emporium historical horse racing establishments also located in Virginia, del Lago Resort &#038; Casino in Waterloo, New York, and Hard Rock Hotel &#038; Casino Sioux City in Iowa.<\/p>\n<p>CDI&#8217;s Chief Executive Officer, Bill Carstanjen, expressed enthusiasm about the agreement, referring to it as a &#8220;pivotal moment&#8221; for the organization and emphasizing the growth opportunities presented by these newly acquired properties. This strategic move demonstrates CDI&#8217;s dedication to expanding its presence within the gaming and entertainment sector, and it will be intriguing to observe how they leverage these new assets. <\/p>\n<p>The purchase increases Churchill Downs Incorporated&#8217;s reach in Virginia.  This agreement allows them to establish five new historical racing (HHR) locations throughout the commonwealth, building upon their current operations.  A notable addition is a completely new establishment in Dumfries, Virginia, designed to accommodate up to 1,800 HHR devices.  Another initiative is a smaller location in Emporia, projected to house up to 150 machines. <\/p>\n<p>Importantly, the transaction also encompasses Churchill Downs Incorporated&#8217;s involvement in the ONE Casino + Resort venture in Richmond, Virginia.  This $565 million endeavor, a joint effort with Urban One, represents a substantial undertaking.<\/p>\n<p>This announcement follows closely behind Churchill Downs Incorporated&#8217;s Q3 earnings release last week.  They reported adjusted EBITDA expansion of 4.5%, notwithstanding a minor 2.5% decline in net revenue.  In total, year-over-year revenue experienced a reduction of approximately $10 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Churchill Downs Incorporated (CDI) recently made a significant impact in the gambling sector by purchasing a majority stake in Peninsula Pacific Entertainment (P2E)&#8217;s holdings for a substantial $2.75 billion. 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