Kelsey McCarson

Churchill Downs will pay up to $500 million to fully acquire a company that owns a majority stake in the Rivers Casino in the Chicago suburb of Des Plaines. Peter Hancock, Capitol News Illinois SPRINGFIELD — Kentucky-based Churchill Downs Inc. Completed its $326 million acquisition of a majority stake in Rivers Casino in Des Plaines despite state.

But now that the Rivers Casino is opening in nearby Des. Which owns the casino, is positioning it on the Vegas model. Official estimates of casino revenues have varied. Des Plaines recently. Gambling company Churchill Downs Incorporated announced on Wednesday that it has reached an agreement to buy a majority stake in Rivers Casino Des Plaines in Des Plaines, Illinois. The transaction involves Churchill Downs’ acquisition of “certain of the ownership interests” of Midwest Gaming Holdings, parent company of the gaming venue. Rush Street Gaming owns and operates Rivers Casino in Pittsburgh, SugarHouse Casino in Philadelphia, Rivers Casino in Des Plaines, Illinois, and Rivers Casino & Resort in Schenectady, New York.

@kelsey_mccarsonAugust 7th, 2019 - 09:15am@kelsey_mccarson

The new majority owner of Rivers Casino intends to expand the Des Plaines casino facility and apply for one of the six new casino licenses offered under the state’s newly expanded Illinois gaming program, according to the Chicago Tribune.

Churchill Downs completed its $407 million purchase of Rivers Casino’s parent company, Midwest Gaming, earlier this year, according to a company release. The company seems to be wasting no time in seeking to expand gaming operations in Illinois to full capacity.

Rivers Casino is already the state’s largest casino, and a popular destination for Chicago area residents and visitors. The casino is in Des Plaines, a suburb just north of Chicago’s O'Hare International Airport.

Churchill Downs Wasting No Time

During a recent conference call with shareholders, according to a yahoo.com report, CEO Bill Carstanjen said Rivers Casino has already notified the Illinois Gaming Board that it intends to expand the 1,200 gaming positions it currently offers at the Des Plaines casino to the full 2,000 allowable under new state law.

The expansion will require new construction at the site, but Carstanjen said he expects some of that new space might be handled by restructuring the current layout of the casino.

Carstanjen also said the parking garage is expected to be extended, and that up to 250 additional gaming positions could quickly be created onsite so long as the company receives all the necessary approvals from government officials.

“Rivers will be working with the Illinois Gaming Board to ascertain what is permissible and to scope out the timing and full capital plan,” Carstanjen said.

Additionally, Rivers said the company will seek to invest in the expansion through “utilizing the available debt capacity at the Rivers level or through additional debt raised at the Rivers level.”

Sports Wagering Big Part of Plan

Illinois Gov. J.B. Pritzker signed a sports betting bill into law in June which greatly expanded gaming operations in the state by allowing both online and in-person sports wagers. Carstanjen said Rivers Casino is well positioned to be at the forefront of the new sports betting market in the state.

“Rivers will also pay the $10 million licensing fee in early 2020 to obtain an Illinois sports wagering license and will construct the sportsbook within its existing footprint,” Carstanjen said. “All of this is very, very exciting.”

Moreover, Rivers Casino is expected to offer sports betting both online and in-person. That should help give the company a leg up on the competition, as Illinois' sports betting bill limits sportsbooks offering online wagering menus to only those with ties to brick-and-mortar locations such as Rivers Casino.

“We will participate in this new market through our 61% ownership of Rivers, and certainly, we have the option to do so separately through our horse racing licenses,” Carstanjen said. 'We will announce our plans soon.”

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sharetweetcopy linkLink copied!WRITTEN BY@kelsey_mccarson<p>Kelsey McCarson, a veteran sports journalist who also covers boxing and MMA, writes about gambling and online casino news for TopUSCasinos.com. He has written for Bleacher Report, TheSweetScience.com and NYFights.com, and his work has appeared in USA Today, CNN and Fox Sports.</p>... Read More<p>Kelsey McCarson, a veteran sports journalist who also covers boxing and MMA, writes about gambling and online casino news for TopUSCasinos.com. He has written for Bleacher Report, TheSweetScience.com and NYFights.com, and his work has appeared in USA Today, CNN and Fox Sports.</p>... Read More

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MIDWEST GAMING PROUD TO ANNOUNCE “RIVERS CASINO”

COMING TO DESPLAINES THIS SUMMER

First Job FairApril 8,2011 to Help Put People Back To Work

The first new Chicagoland casino and entertainment complex to be built in more than a decade will be named “Rivers Casino” when it opens this summer, Midwest Gaming and Entertainment proudly announced today.

The Rivers Casino will be minutes from O’Hare International Airport at the corner of Des Plaines River Road and Devon Avenue in Des Plaines and the closest casino to downtown Chicago.

Midwest Gaming also announced it will hold its first job information fair for the Rivers Casino from 9 a.m. to 4 p.m., Friday, April 8, 2011, at the Rosemont Convention Center, 5555 N. River Road, Rosemont, IL.The Rivers Casino will create approximately 1,000 permanent jobs--from management positions to dealers, restaurant personnel and more.The job fair will provide a chance to learn more and to meet the Rivers Casino management team.However, no paper applications or resumes will be accepted at the job fair; job seekers are kindly asked to apply on-line at http://www.riverscasino.net/

to ensure fair consideration.

Who Owns Rivers Casino In Des Plaines Illinois Map

“We are excited to be creating jobs in the Chicagoland area after creating hundreds of construction jobs over the past year,” said Greg Carlin, Midwest Gaming CEO. “We look forward to being a great entertainment destination for many years to come and we will be a major employer and good neighbor for Des Plaines and the Chicagoland region.”

The name for Rivers Casino represents the location of the casino near the Des Plaines River and its “green” elements incorporated throughout the attraction.An affiliate company of Midwest Gaming also owns and operates Rivers Casino in Pittsburgh—recently voted Best Overall Casino in Pennsylvania by readers of Strictly Slots magazine.

The $445 million Rivers Casino is expected to generate millions in annual gambling tax revenue that will benefit the State of Illinois, the City of Des Plaines and the Chicagoland area.The structure will house 1,200 gambling positions, and several restaurants and bars including Hugo's Frog Bar and Chop House, operated by the Gibson’s Restaurant Group, featuring Gibson’s' prime steaks and chops, fresh seafood and an extensive wine list.

Moreover, the Rivers Casino is on track to be the first casino in the nation to be LEED certified (Leadership in Environmental and Energy Design) for its green design, materials and practices.

In addition to job hunters, interested vendors should visit the company’s website, http://www.riverscasino.net/

, to learn about business opportunities.

Job fair attendees are encouraged to use public transportation.Paid parking will also be available at the convention center.

About Midwest Gaming & Entertainment, LLC

Midwest Gaming is a partnership between affiliates of Neil Bluhm and Clairvest Group Inc. Collectively, the partners bring a wide range of development and gaming experience to the project, having developed, constructed and managed casinos, luxury hotels and other hospitality businesses around the world including the Rivers Casino in Des Plaines, Illinois. For more information, please visit www.midwestgaming.com

.

About Rivers Casino

Rivers Casino is slated to open in the summer of 2011, just minutes from O’Hare International Airport at the corner of Des Plaines River Road and Devon Avenue in Des Plaines, IL.The property features a 43,000 square foot casino floor with 1,200 gambling positions and 30,000 square feet of first-class food and beverage venues, including Hugo’s Frog Bar and Chop House.For more information, please visit www.riverscasino.net

.