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Churchill CEO William Carstanjen (Creidt: Getty Images and iStock)
The majority owner of Rivers Casino plans to bid on one of six new state-approved casino licenses and will expand its Des Plaines facility.
Churchill Downs said in an earnings call that it will spend $10 million early next year for the rights to allow betting on sporting events at Arlington International Racecourse and another $24 million to license 800 additional positions, according to Crain’s. The new law allows for up to 1,200 positions.
That will require Churchill’s Rivers Casino to expand the building’s footprint and parking garage, Churchill CEO William Carstanjen said. He did not answer an analyst’s question directly on whether Churchill will bid for one of the new casino licenses independently, with Rivers or another partner, Crain’s reported.
Earlier this year. Gov. J.B. Pritzker signed a sweeping state gambling bill into law, later prompting city leaders to suggest locations for a new Chicago casino away from Downtown.
Carstanjen did say on the earnings call that Churchill would apply to add gambling beyond horse-wagering at Arlington by the end of August.
Churchill, which owns 61 percent of Rivers Casino, has become a gambling giant in addition to operating racing venues and sponsoring the Kentucky Derby. [Crain’s] — Katherine Kallergis Casino raiders ii (1991).
Rivers Casino Des Plaines News
|Location||Des Plaines, Illinois, United States|
|Address||3000 S River Road|
|Opening date||July 18, 2011|
|Owner||Churchill Downs Inc. (62%)|
Rush Street Gaming (38%)
Rivers Casino is a casino in Des Plaines, Illinois, United States, a northern suburb of Chicago. It is minutes away from O'Hare International Airport. Rivers Casino opened on July 18, 2011. It is majority-owned by Churchill Downs Inc., and managed by its minority owner, Rush Street Gaming.
The building sits above a few inches of water in a shallow pit. This was created for the casino to comply with state law, intended to legalize riverboat gambling.
In 2008, the Illinois Gaming Board awarded the state's 10th and last casino license to Midwest Gaming and Entertainment LLC, a group led by Neil Bluhm, to build a 140,000-square-foot (13,000 m2) casino on approximately 21 acres (8.5 ha) adjacent to the Tri-State Tollway at the northwest corner of Devon Avenue and Des Plaines River Road. Des Plaines was awarded the gaming license in 2008. The city approved zoning in early 2010. The casino opened in July 2011 as Rivers Casino.
In 2019, Churchill Downs Inc., which owned the nearby Arlington Park racetrack, purchased a 62 percent stake in the casino from Bluhm and his partners for $407 million.
Rivers Casino New Years Eve 2019 Des Plaines Illinois
- ^ abChicago Tribune: 'Des Plaines casino goes Vegas to corner upscale Chicago market' by Jennifer Delgado and Robert McCoppin July 15, 2011
- ^Form 10-K: Annual Report (Report). Churchill Downs Inc. February 27, 2019. p. 5 – via EDGAR.
- ^'Churchill Downs Incorporated completes purchase of stake in Rivers Casino Des Plaines in Illinois' (Press release). Churchill Downs Inc. March 5, 2019 – via EDGAR.