Churchill Downs Incorporated (CDI) announced Wednesday that it has reached two separate agreements to buy Presque Isle Downs & Casino in Erie, PA and Lady Luck Casino in Vicksburg, MS. The total for the two transactions, which are pending closing conditions and gaming license approvals, will be $229.5 million.
“We are excited about welcoming both of these properties to the Churchill family,” said CDI CEO Bill Carstanjen in a release. “Presque Isle will give us a foothold in Pennsylvania which has recently passed legislation authorizing real money online gaming. The Lady Luck Vicksburg is immediately adjacent to our Riverwalk facility and offers us operational efficiencies in a stable region. Both properties fit our investment criteria and will be immediately accretive to our shareholders.”
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