The purchase announcement in February included seven racetracks in Virginia and a casino in New York, with a deal subject to regulatory approval involving the three states. Hard Rock Hotel & Casino Sioux City's gaming floor. This move triggered a provision in the agreement that increased the purchase price by $225 million, from $2.485 billion to $2.75 billion. The agreement originally stated that Churchill Downs would sell the Hard Rock property to an undisclosed third party and then lease the property to operate it, but Churchill Downs later chose to own and manage the casino property. The acquisition process was fairly straightforward and he stated that he intends to continue operations as usual, he noted.

Hard Rock General Manager Doug Fischer said he looks forward to “no change” in the deal between the casino and MRHD. Under a deal with Hard Rock, the MRDH receives 4.25% of casino revenue, which is later redistributed to charities, civic groups and local governments in Woodbury and adjacent counties. The casino property also features a sportsbook, live entertainment venues, restaurants and a music memorabilia collection.Ĭhurchill Downs will maintain P2E’s agreement with Missouri River Historic Development, a local nonprofit that holds the casino’s state gaming license. Hard Rock Sioux City is a 45,000-square-foot casino with 639 slot machines, 20 gaming tables, and a 54-room hotel. We have been quite impressed with our visits to this property, it is very evident that the senior team has assembled a great team and we are looking forward to continuing what already exists there today,' he said, according to The Des Moines Register.

“ We are committed to the members of the Hard Rock Sioux City team. Tim Bryant, vice president of gaming operations at Churchill Downs, told commissioners the company plans to maintain the Hard Rock brand and keep all 350 casino staff on board after the purchase is completed. Representatives from Churchill Downs and Hard Rock Casino said they were 'excited' about the purchase agreement and that the casino’s operations would remain largely the same after the deal is finalized. The deal was first announced by Churchill Downs in February this year. The unanimous approval marks a major milestone in the company's $2.75 billion bid to buy Peninsula Pacific Entertainment (P2E), which owns the Hard Rock Casino and other racing and gambling properties in Virginia and New York. Gaming company and horse racing giant Churchill Downs Incorporated (CDI) announced Thursday it is one step closer to buying Hard Rock Hotel & Casino Sioux Cityafter being greenlighted by the Iowa Racing and Gaming Commission.

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