UPDATED 2PM 2/22/22 Dar Danielson contributed to this story THE SALE IS EXPECTED TO BE FINALIZED BY THE FALL OF THIS YEAR. PENINSULA PACIFIC ENTERTAINMENT WAS IN AT THE START OF THE HARD ROCK WHEN THE SIOUX CITY CASINO WAS MOVED FROM A RIVERBOAT TO THE LAND. THERE ARE OTHER PROPERTIES AND STATES INVOLVED IN NEW YORK AND VIRGINIA, AND OHORILKO SAYS CHURCHILL DOWNS HAS TO GET APPROVALS FROM ALL OF THEM - AS WELL AS GOING THROUGH ALL THE BACKGROUND CHECKS HERE IN IOWA. OHORILKO HASN’T HAD THE CHANCE TO LEARN MORE BEYOND WHAT THE COMPANY ANNOUNCED: IF THE COMPANY CAN’T REACH AN AGREEMENT ON A LEASE - C-D-I WOULD THEN BUY THE HARD ROCK CASINO ITSELF. UNDER TERMS OF THE DEAL, C-D-I WOULD SELL THE PROPERTY ASSOCIATED WITH HARD ROCK SIOUX CITY TO A THIRD PARTY AND THEN LEASE IT BACK TO RUN THE CASINO.

IOWA RACING AND GAMING ADMINISTRATOR, BRIAN OHORILKO (O-RILL-KO) SAYS HIS OFFICE WAS NOTIFIED OF THE DEAL THIS (TUESDAY) MORNING. THE COMPANY WHICH OWNS THE HISTORIC SITE OF THE KENTUCKY DERBY HAS ANNOUNCED A DEAL TO PURCHASE THE ASSETS OF THE COMPANY WHICH OWNS SIOUX CITY’S HARD ROCK CASINO.ĬHURCHILL DOWNS INCORPORATED HAS ENTERED AN AGREEMENT TO BUY THE ASSETS OF PENINSULA PACIFIC ENTERTAINMENT FOR TWO-POINT-FOUR-EIGHT BILLION DOLLARS.

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