Connect with us

Canada

CDI to Acquire Peninsula Pacific Entertainment Assets for $2.49 Billion

Published

on

 

Churchill Downs Incorporated (CDI) has announced that it has entered into a definitive purchase agreement to acquire substantially all of the assets of Peninsula Pacific Entertainment LLC (P2E) for total consideration of $2.485 billion.

CDI will acquire all of P2E’s assets in Virginia and New York as well as the operations of its Sioux City casino property. The P2E Transaction is dependent on usual and customary closing conditions, including the Company obtaining approvals from the Virginia Racing Commission, the New York State Gaming Commission, and the Iowa Racing and Gaming Commission. The transaction is expected to close by the end of 2022.

“This unique set of assets expands our geographic footprint and provides additional scale. P2E has done an exceptional job developing and managing this collection of assets, which we are very excited to acquire and plan to strategically grow in the years ahead,” Bill Carstanjen, Chief Executive Officer of CDI, said.

Colonial Downs Racetrack and Virginia Historical Racing Entertainment Venues

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

CDI will acquire Colonial Downs Racetrack, a Thoroughbred racing facility in New Kent, Virginia (Colonial Downs), as well as six successful and growing “Rosie’s Gaming Emporium” historical horse racing facilities across Virginia. Rosie’s Gaming Emporium locations currently include Collinsville, Dumfries, Hampton, New Kent, Richmond, and Vinton. These facilities currently have approximately 2700 historical racing machines (HRMs). The transaction significantly expands the geographic diversity of CDI’s live and historical racing entertainment venues and reinforces CDI’s role as a national leader in historical horse racing.

del Lago Resort & Casino in Waterloo, New York

CDI will acquire del Lago Resort & Casino (del Lago) in Waterloo, New York. del Lago is a 96,000 sq. ft. casino with approximately 1700 slot machines, 80 table games, a 205-room hotel, nine restaurants/bar areas, 758 covered parking spaces, a 6000 sq. ft. sportsbook area, a 2400-seat entertainment venue, and a 7200 sq. ft. outdoor event venue.

Hard Rock Hotel & Casino in Sioux City, Iowa

CDI will acquire the operations of Hard Rock Hotel & Casino in Sioux City, Iowa (Hard Rock Sioux City). Hard Rock Sioux City is a 45,000 sq. ft. casino with 639 slot machines, 20 table games, a 54-room hotel, 1511 parking spaces with 530 covered, two live entertainment venues, a 100-piece music memorabilia collection, and a Hard Rock-branded sportsbook.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Under the terms of the P2E Transaction, P2E is expected to reach a definitive agreement to sell the real property associated with Hard Rock Sioux City (Sioux City Property) to a third party. CDI will acquire the operating company and lease the Sioux City Property from that third party. Following the closing, CDI will operate Hard Rock Sioux City and lease the Sioux City Property pursuant to lease terms negotiated prior to the closing. In the event P2E is unsuccessful in reaching a definitive agreement with a third party to purchase the Sioux City Property by a certain date, the Sioux City Property will be included in the P2E Transaction and the total consideration will increase to $2.75 billion.

Other Development Rights

Under Virginia law, CDI will have the opportunity to develop up to five additional historical racing entertainment venues in Virginia with collectively up to approximately 2300 additional HRMs. As part of the P2E Transaction, CDI will also acquire the rights to build a large gaming resort (the Dumfries Project), with up to 1800 HRMs in Northern Virginia. P2E previously announced plans to invest up to $400 million to build the initial phase of the Dumfries Project, which is scheduled to open in 2023.

CDI will also acquire the rights to develop Rosie’s Gaming Emporium in Emporia, the seventh historical racing entertainment venue under P2E’s Colonial Downs license. The Emporia facility, located along I-95 near the North Carolina border, will have 150 HRMs and is expected to open in 2023.

Also, included in the P2E Transaction are the rights to P2E’s ongoing effort in partnership with Urban One, to develop ONE Casino + Resort, a $565 million destination casino in Richmond, Virginia.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

P2E’s gaming license in the State of Louisiana, and its casino development rights in Cedar Rapids, Iowa, are not included in the transaction.

Powered by WPeMatico

Continue Reading
Advertisement

Bonus Guardian

Pinnacle Ontario live with CasinoEngine in North America debut

Published

on

pinnacle-ontario-live-with-casinoengine-in-north-america-debut

 

EveryMatrix has expanded its partnership with tier-1 operator Pinnacle powering its new casino in Ontario, Canada, using CasinoEngine platform technology – the first time its platform solution has gone live in North America. 

The latest agreement builds on the two companies’ previous collaboration that saw EveryMatrix’s CasinoEngine productivity platform power the well-known brand’s global casino offering.

The new launch takes the relationship to North America, marking EveryMatrix’s debut CasinoEngine platform integration in that market.

BonusEngine, EveryMatrix’s cross-vertical bonusing tool will be integrated in the second phase of launch. This will equip Pinnacle Ontario with a host of bonus types as well as AI-powered bonus abuse solution Bonus Guardian.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

BonusEngine is the first of multiple engagement tools from EveryMatrix’s EngageSuite that Pinnacle plans to integrate.

With this comprehensive toolkit at its disposal, and the opportunity to add even more casino products in the future, Pinnacle Ontario can tailor campaigns, segment audiences, and reward players more effectively, creating a world-class digital entertainment experience for its customers.

EveryMatrix has more than 300 global customers and holds North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.

Stian Enger Petersen, CEO, Casino, EveryMatrix, said: “This launch marks a key milestone for EveryMatrix as we bring our market-leading CasinoEngine platform to Canada for the first time.

“We’re delighted to expand our partnership with Pinnacle and support their ambitions in Ontario with a powerful combination of platform, content, and engagement tools that are proven to drive success.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post Pinnacle Ontario live with CasinoEngine in North America debut appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

AGCO

Prime Skill Games Inc. Official Response to AGCO Press Release

Published

on

prime-skill-games-inc.-official-response-to-agco-press-release

 

As CEO of Prime Skill Games Inc., I feel compelled to address recent comments made by the Alcohol and Gaming Commission of Ontario regarding so-called unapproved gambling machines in convenience stores across the province.

Let me be perfectly clear

Our machines are not gambling devices. They are entirely skill-based, fully compliant with the law, and built on the fundamental idea that players are in control. The outcome of every session is determined solely by the player’s ability, not by random chance.

Prime Skill Games is proud to be the only true skill game operating in Ontario today.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

We categorically reject any suggestion that our products fall under the definition of unregulated gambling. Such statements are inaccurate, misleading, and fail to recognize the critical distinction between games of skill and games of chance.

We stand firmly behind the legality of our machines and the integrity of our operations. We will demonstrate this through every available means, whether through legal documentation, expert analysis, or, if necessary, before the courts. We are prepared and unafraid to defend the truth.

To our players, partners, and business community, we want to reassure you that our mission has not changed. We are committed to offering a responsible, transparent, and innovative entertainment experience. We will not be intimidated by broad and baseless accusations, and we will continue to move forward with strength and clarity.

 

Sincerely

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Matt Zamroźniak

Chief Executive Officer

Prime Skill Games Inc.

The post Prime Skill Games Inc. Official Response to AGCO Press Release appeared first on Gaming and Gambling Industry in the Americas.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Canada

LuckyStart Casino Adds New Payment Method

Published

on

luckystart-casino-adds-new-payment-method

 

LuckyStart Casino has announced the addition of a new payment method – Interac – available for all players in Canada, in order to make it easier for their customers to fund their account balance and cash out their winnings quickly.

The brand is aware of the popularity of this payment method amongst Canadian players, and hence, it has decided to add it and enable flexible deposit and withdrawal limits, in order to be considered as the best Interac casino in Canada, especially since the brand is also releasing Interac-exclusive bonuses and promotions.

Furthermore, LuckyStart has announced flexible limits for deposits and withdrawals, to make it easier for players to fund their account balance and cash out their winnings, offering instant approval and same-day processing, which are traits that LuckyStart believes are going to position it as the best Interac casino in Canada.

LuckyStart now supports Interac on the desktop and mobile website, offers exclusive bonuses for Interac bonuses, as well as instant withdrawals, and unrestricted access to their catalog of 5000+ real money games.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

LuckyStart believes there is no better way to celebrate an accomplishment in the online gambling world than by launching new bonuses and promotions. That’s why the brand has released a new welcome bonus package for all players who deposit via Interac, as LuckyStart envisions becoming the best Interac casino in Canada.

This new welcome bonus package available for all Interact deposits rewards players with up to $4800 in free bonus money across their first 4 deposits, along with 400 Free Spins. When compared to the welcome packages offered by other Interact casinos, LuckyStart stands out with the biggest offer currently available.

The post LuckyStart Casino Adds New Payment Method appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania