{"id":217,"date":"2024-06-19T11:44:20","date_gmt":"2024-06-19T08:44:20","guid":{"rendered":"https:\/\/kudoscasinonodepositbonus.icu\/2024\/06\/19\/churchill-downs-inc-expands-gambling-empire-with-2-75-billion-acquisition\/"},"modified":"2024-06-20T17:11:30","modified_gmt":"2024-06-20T14:11:30","slug":"churchill-downs-inc-expands-gambling-empire-with-2-75-billion-acquisition","status":"publish","type":"post","link":"https:\/\/kudoscasinonodepositbonus.icu\/2024\/06\/19\/churchill-downs-inc-expands-gambling-empire-with-2-75-billion-acquisition\/","title":{"rendered":"Churchill Downs Inc Expands Gambling Empire With $2.75 Billion Acquisition"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/b_2Vj_oyGqY\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Churchill Downs Incorporated (CDI) has executed a significant maneuver in the gambling industry, purchasing a substantial portion of Peninsula Pacific Entertainment&#8217;s (P2E) holdings for a hefty $2.75 billion. This transaction expands CDI&#8217;s presence nationwide, assuming control of operations in Virginia, New York, and Iowa.  Regulatory approvals in these states have already been secured, paving the way for a seamless transition.<\/p>\n<p>Bill Carstanjen, CEO of CDI, characterized this as a &#8220;pivotal moment&#8221; for the company. The acquisition extends beyond merely increasing the number of venues; it incorporates renowned properties and unlocks promising new growth opportunities.<\/p>\n<p>Consider historic horse racing destinations like Colonial Downs Racetrack in New Kent, Virginia, along with six Rosie&#8217;s Gaming Emporium establishments throughout the state.  Furthermore, there&#8217;s del Lago Resort &#038; Casino in Waterloo, New York, and Hard Rock Hotel &#038; Casino Sioux City in Iowa. CDI has solidified its position as a major contender in these areas. <\/p>\n<p>This purchase was a significant agreement! It encompassed the authorization to establish over five new historic horse racing (HHR) locations in Virginia. This encompasses a substantial new site in Dumfries that can accommodate up to 1,800 HHR devices. They also secured the privileges to construct another HHR establishment in Emporia for up to 150 devices.<\/p>\n<p>And the icing on the cake? This agreement incorporates a collaboration with Urban One to develop the ONE Casino + Resort in Richmond, Virginia. This is a colossal undertaking with a $5.65 billion cost.<\/p>\n<p>It appears CDI is making substantial strides, even though their latest quarterly report displayed a minor decrease in revenue. While their net income was slightly lower, their adjusted EBITDA actually increased. It seems they&#8217;re thinking long-term and investing in some major ventures that could yield significant returns in the future. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Churchill Downs Incorporated (CDI) has executed a significant maneuver in the gambling industry, purchasing a substantial portion of Peninsula Pacific Entertainment&#8217;s (P2E) holdings for a [&#8230;]<\/p>\n","protected":false},"author":72,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Churchill Downs Makes $2.75 Billion Power Play in Gaming Industry<\/title>\n<meta name=\"description\" content=\"Churchill Downs Incorporated expands its footprint with a major acquisition, taking over operations in key states. 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