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Slide #80. Churchill Downs Incorporated — Riverwalk Casino and Hotel
Churchill Downs Incorporated (NASDAQ:CHDN)
Riverwalk Casino and Hotel
Churchill Downs Incorporatedannounced that it has entered into a definitive purchase agreement to acquire Riverwalk Casino and Hotel in Vicksburg, Miss., for total consideration of approximately $141 million, to be paid in cash. The transaction, which is contingent upon the Company securing a gaming license from the Mississippi Gaming Commission and other usual and customary closing conditions, is anticipated to close by the end of the year. If certain closing conditions are not satisfied, the Company could be obligated to pay a $7 million termination fee.
Churchill Downs is a racing, gaming and online entertainment company. Co. owns and operates a legal online horseracing wagering platform in the U.S., through its TwinSpires business. Co. manages its operations through five segments: Racing, which includes its four racetracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course; Online Wagering, which includes its TwinSpires business and its online sports betting and iGaming business; Casino, which provides brick-and-mortar casino gaming; Other Investments, which includes United Tote Company, Derby City Gaming and its other minor investments; and Corporate.
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Strong Buy (3.50 out of 4)
(ranked higher than approx. 64% of all stocks covered)
Based on Zacks ABR data;
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