The Iowa Racing and Gaming Commission recently approved the sale of the Hard Rock Casino in Sioux City to Kentucky-based Churchill Downs.
The proposed $2.5 billion purchase of the property from Peninsula Pacifica Entertainment sale was announced in February. Commission Administrator Brian Ohorilko said, “The commission has been reviewing other documents, financing and other paperwork, that was part of this transaction and subsequently approved this transaction.”
Ohorilko said Virginia regulators previously approved the sale; approval still is pending from New York.
“When the New York Gaming Association ultimately reviews it, and if they were to approve it, then that is when this transaction would become final. And so that’s maybe expected to occur this fall,” Ohorilko said.
He added Churchill Downs officials indicated they don’t anticipate any changes in “business as usual,” including the current management team as well as the Hard Rock name. “That was something that was part of this deal. The Hard Rock brand will remain in terms of all of the concerts that go along with that,” Ohorilko said.
Peninsula Pacific Entertainment took over the Sioux City casino in 2014 when it moved from the Missouri River onto land.
