Casino

Iowa Gaming Commission approves sale of Hard Rock Hotel & Casino Sioux City

Monday 29 de August 2022 / 12:39

⏱ 1 min read

(Sioux City).- We’re now one step away from the Hard Rock Hotel and Casino Sioux City being officially sold alongside a host of other properties.

Iowa Gaming Commission approves sale of Hard Rock Hotel & Casino Sioux City

Peninsula Pacific Entertainment, headquartered in Virginia, is selling its properties to Churchill Downs, the owners of the famous Kentucky Downs horse racing facility.

Staff at the Hard Rock in Sioux City can rest easy as the sale of the property was approved by the Iowa Racing and Gaming Commission. And, the commission’s executive director confirmed all 350 staff can remain.

The sale won’t be official until the New York State Gaming Commission approves the deal because the transaction includes properties in three states. The IRCG says Churchill Downs will purchase the properties for just under $3 billion.

Importantly, the “Hard Rock” branding is expected to stay in Sioux City.

“And in fact, they’ve also confirmed that the Hardrock brand will remain in place. And so that agreement, that licensing agreement was also part of this transaction,” said Brian Ohorilko, the executive director of the gaming commission.

The new ownership will continue the casino’s relationship with Missouri River Historic Development. Under Iowa law, a casino’s gaming license is held by a non-profit.

Right now, MRHD receives just over 4% of the casino’s revenue. That is also expected to continue.

Categoría:Casino

Tags: Sin tags

País: United States