Churchill Downs Inc (CHDN): M&A transaction — Churchill Downs completes $2.75B acquisition of Peninsula Pacific Entertainment assets

Churchill Downs Inc

Acquired Colonial Downs, six Rosie's HRM venues in Virginia, del Lago Resort & Casino (NY), Hard Rock Hotel & Casino (IA).
Total cash consideration $2.75B; assets include about 2,700 historical racing machines, casinos, hotels.
Development rights for up to 5 additional HRM venues in VA; new venues in Dumfries (2023) and Emporia (2023).
Includes partnership with Urban One to develop ONE Casino + Resort in Richmond, VA ($565M project).
CEO Bill Carstanjen: transaction expands geographic footprint to IA, NY, VA with organic growth opportunities.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Churchill Downs Inc completed an acquisition involving Peninsula Pacific Entertainment Intermediate Holdings LLC for $2.75 billion in cash (closed 2022-11-01).

Action: acquisition
Counterparty: Peninsula Pacific Entertainment Intermediate Holdings LLC
Consideration: $2.75 billion in cash
Closing: 2022-11-01

Exact text from the filing

or Disposition of Assets On the Closing Date, pursuant to the Purchase Agreement, the Company completed the P2E Transaction. The Company paid an aggregate consideration of US$2.75 billion in cash in connection with the P2E Transaction, subject to customary adjustments for working capital, indebtedness and certain other adjustments as set forth in the Purchase

View on SEC.gov

Browse all m&a transactions →

Churchill Downs Inc filing history →

Source: SEC EDGAR

accession 0000020212-22-000158

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.