Churchill, Boyd Complete Major Buyouts, Caesars U-Turns

Churchill Downs Incorporated completed its acquisition of Peninsula Pacific Entertainment for $2.75bn. The purchase makes CDI the new owner and operator of racetracks and casinos in New York and Virginia, including Hard Rock Hotel & Casino in Sioux City, Iowa.

Caesars won't sell its Las Vegas Strip property. Caesar's CEO apologizes to investors over the decision. CDI will buy P2E's upstate New York and Virginia assets. CDi expects the P 2E transaction to close by the end of 2022. It will also gain the rights to develop a Rosie's Gaming Emporium in Emporia and a ONE Casino + Resort destination casino in Richmond, Virginia.

Churchill, Boyd and Caesars complete major buyouts. Boyd bought Pala as part of its iGaming strategy. The integration of online casinos with Boyd’s existing retail operations will drive growth of both verticals.