Churchill Downs amends P2E acquisition for $2.75B, including Hard Rock Sioux City property and no debt assumption

Churchill Downs Inc

Amendment to Purchase Agreement with Peninsula Pacific Entertainment (P2E) includes Hard Rock Sioux City real property in transaction, total consideration $2.75 billion.
Churchill Downs will no longer assume approximately $850 million of P2E debt; P2E will repay such debt at closing.
P2E Transaction includes Colonial Downs Racetrack in Virginia, six historical racing venues, del Lago Resort & Casino in New York, and Hard Rock Sioux City.
Closing date of the acquisition will not occur prior to October 3, 2022, unless otherwise agreed.

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