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Company that owns Rosie’s being acquired by Churchill Downs Incorporated

(Will Thomas)
Published: Feb. 22, 2022 at 11:45 AM EST
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LOUISVILLE, Ky. (WDBJ) - Churchill Downs Incorporated (CDI) announced Tuesday it is purchasing Peninsula Pacific Entertainment LLC (P2E), the company that operates six Rosie’s Gaming Emporium locations in Virginia.

The cost of the deal is $2.485 billion, according to CDI, which is acquiring all of P2E’s assets in Virginia and New York, as well as the operations of its Sioux City casino property. The transaction is dependent on closing conditions, including approvals from the Virginia Racing Commission. The transaction is expected to close by the end of 2022, according to the company.

“This unique set of assets expands our geographic footprint and provides additional scale,” said Bill Carstanjen, Chief Executive Officer of CDI. “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.”

CDI’s deal means the acquisition of Colonial Downs Racetrack, a Thoroughbred racing facility in New Kent, Virginia, as well as the Rosie’s locations in Vinton, Collinsville, Dumfries, Hampton, New Kent and Richmond.

CDI will also acquire the rights to develop a seventh Rosie’s, in Emporia.

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