Reno-based Eldorado selling 2 casinos to Churchill Downs
RENO, Nev. (AP) — Eldorado Resorts has entered agreements to sell two of its casino properties to Churchill Downs in Kentucky.
The Reno-based company announced Wednesday Churchill Downs has agreed to acquire Presque Isle Downs & Casinos in Erie, Pennsylvania and Lady Luck Casino Vicksburg in Mississippi for a total of $229.5 million.
As part of the agreement, Eldorado Resorts will sell Presque Isle Downs & Casinos for $178.9 million in cash considerations and Lady Luck Casino Vicksburg for $50.6 million in cash considerations.
Eldorado Resorts says the sale of the Lady Luck Casino Vicksburg is expected to close in the second quarter of this year. The sale of Presque Isle Downs & Casinos to close in late 2018.