Who Owns Rivers Casino In Des Plaines Illinois

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Churchill Downs acquires “crown jewel of Illinois gaming” in latest acquisition deal within the US land-based casino space
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.
Rivers Casino Des Plaines first opened doors in 2011. The property is located two miles from O’Hare International Airport, and is thus able to benefit from domestic and international passenger traffic at one of the busiest US airports. The casino features a 44,000-square-foot gaming floor with nearly 1,000 slot machines and 58 table games as well as multiple food and beverage facilities and an event center.
Under the terms of the deal, Churchill Downs will assume ownership of at least 50.1% of Midwest Gaming and will pay no more than $500 million in cash to complete the transaction. Churchill Downs has thus agreed to buy 100% of the ownership stake in the Des Plaines-based casino’s parent company from Clairvest Group affiliates and co-investors for $291 million and additional units of Midwest Gaming currently owned by High Plaines Gaming, an affiliate of major gambling group Rush Street Gaming, which will result in a cash consideration of no less than $326 million.
It has also become known that Rush Street will keep managing the day-to-day operations of the Des Plaines casino. Once the transaction is complete, the company expects to hold approximately the same stake in the gambling venue as it currently owns.
The deal is subject to approval from the Illinois Gaming Board and other customary closing conditions and is expected to be finalized in the first half of 2019.
Crown Jewel of Illinois Gaming
Commenting on the deal, Churchill Downs CEO Bill Carstanjen said that it came as part of his company’s strategy to invest in gaming properties with “stable, predictable cash flows in diverse markets.” the executive further pointed out that the Des Plaines casino is the “crown jewel of Illinois gaming” and one of the nation’s premier casinos.
The acquisition of Rivers Casino Des Plaines is not the first time Churchill Downs and Rush Street have engaged in a deal of this kind. In 2012, the former company bought Riverwalk Casino and Hotel in Vicksburg, Mississippi from Rush Street.
Greg Carlin, CEO of Midwest Gaming, commented on the recently announced transaction, praising Churchill Downs for creating significant shareholder value over the years and expressing optimism that Rivers Casino will continue to be one of North America’s most successful gambling destinations under the Churchill Downs and Rush Street stewardship.
The recently announced transaction comes as another manifestation of a growing trend of major US land-based gambling companies merging or acquiring properties in a bid to cement their positions in a highly competitive environment.
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The post Churchill Downs Acquires Majority Stake in Rivers Casino Des Plaines appeared first on Casino News Daily.

  • Midwest Gaming assumed ownership of Rivers Casino Des Plaines in December 2008. It is believed it was granted a license by the state regulator because of its plan to bring in more female and minority investors. Aside from Rivers Casino, Churchill Downs also owns Arlington International Racecourse in the greater Chicago area.
  • According to Chicago’s Daily Herald, Churchill Downs is on the cusp of clinching a majority stake of Midwest Gaming that owns Rivers Casino Des Plaines property in Illinois. The acquisition of 50.1% in shares of the company is close at hand and is principally motivated by the eventual expanding beyond Arlington International Racecourse.
  • Rivers Casino Des Plaines is the most successful casino in Illinois and jointly owned by Rush Street Gaming and Churchill Downs Incorporated ('CDI') (Nasdaq: CHDN). CDI is an industry-leading.
  • 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.

Who Owns Rivers Casino In Des Plaines Illinois Map

MIDWEST GAMING PROUD TO ANNOUNCE “RIVERS CASINO”

Rivers Casino Des Plaines Partners With Rush Street Interactive To Launch BetRivers.com, Making History As The First Online And Mobile Sportsbook In Illinois PR Newswire CHICAGO, June 18, 2020.

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.

“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.”

Who Owns Rivers Casino In Des Plaines Illinois

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.

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About Midwest Gaming & Entertainment, LLC

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Rivers casino in des plaines illinois

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

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About Rivers Casino

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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

Rivers Casino In Des Plaines Illinois

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