Sioux City, Iowa — State regulators on Thursday, August 25th, approved the sale of the Hard Rock Casino in Sioux City to the company in Kentucky which runs the Kentucky Derby.
Racing and Gaming Administrator, Brian Ohorilko says the approval came after the Commission got a report on the Churchill Downs Incorporated background check.
Churchill Downs announced in February the proposal to purchase the Hard Rock from Peninsula Pacific Entertainment for nearly $2.5 billion. Ohorilko says Virginia regulators have approved the sale because of the involvement of Peninsula, and approval is still needed from New York.
Ohorilko says the Racing and Gaming Commission does not expect any big differences in operation when the sale is completed.
The Hard Rock name will also stay.
Peninsula Pacific Entertainment took over when the Sioux City casino in 2014 when it was moved from a riverboat to the land, and Ohorilko says it has been a success story.
Churchill Downs also owns racetracks and an online wagering company.
