Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Jun. 9, 7:44 AM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #80. Churchill Downs Incorporated — Riverwalk Casino and Hotel
Acquirer:
Churchill Downs Incorporated (NASDAQ:CHDN)
Acquiree:
Riverwalk Casino and Hotel
Details:
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, online wagering and gaming entertainment company. Co. owns and operates three pari-mutuel gaming entertainment venues with historical racing machines in Kentucky. Co. manages its operations via three segments: Live and Historical Racing, which includes live and historical pari-mutuel racing related revenue and expenses at Churchill Downs Racetrack, Derby City Gaming, Oak Grove, Turfway Park, and Newport; TwinSpires, which includes online horse racing and the online and retail sports betting and iGaming wagering business; and Gaming, which includes casino properties and associated racetrack or jai alai facilities which support the casino license as applicable.
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 95th percentile
(ranked higher than approx. 95% of all stocks covered)
Analysts' Target Price: CHDN Stock Forecast Based on Zacks ABR data; powered by Xignite |
