Churchill Downs purchases stake in Rivers Casino Des Plaines

(PRESS RELEASE) -- Churchill Downs Incorporated today announced that it has completed its previously announced purchase of certain ownership interests of Midwest Gaming Holdings, LLC, the parent company of Rivers Casino in Des Plaines, Illinois, for cash consideration of approximately $407 million. The closing follows the approval of the Sale Transaction by the Illinois Gaming Board on 1 March 2019. The sale transaction purchase price was funded with cash on hand and through the Company’s existing credit facility.

Opened in 2011, Rivers Des Plaines, located on the Des Plaines River in Des Plaines, Illinois, two miles from O’Hare International Airport and fifteen miles from downtown Chicago, features a 44,000-square-foot single-level gaming floor with 983 slot machines and 58 table games; seven dining and entertainment options; and a multi-functional event center.