Churchill Downs, which also owns and operates the Rivers Casino has confirmed that they would be participating in a bid for a new casino license in Illinois. Recently Gov. J.B Prirtzeker signed a massive gambling expansion bill which allows for six new casinos in the state.
Churchill Downs is the single largest stakeholder in Rivers Casino and it owns and operates Arlington International Racecourse. In a statement, the company said that they are also looking forward to getting permissions for launching sports betting operations by paying $10 million early next year for the rights.
The Rivers Casino said that they would pay another $24 million to license 800 additional positions allowed casino operators under the new gaming law signed last month by Gov. J.B. Pritzker.
“To install the full 800 positions, Rivers will need to expand the existing building footprint, construct an extension of the parking garage and invest additional capital to support the expansion. However, Rivers can install approximately 200 to 250 additional positions quickly within its existing space,” said Churchill Downs CEO William Carstanjen.
Earlier this week, Churchill Downs posted a 25.8 percent year-on-year increase in its revenue for the second quarter of 2019. It’s newly acquired casinos pushed the company’s offsite gaming revenue by a significant 64.3 percent.
Presque Isle was the highest-grossing Casino of all Churchill Downs properties.