Glenn Rieder is a custom architectural millwork manufacturer and commercial interior contractor serving all major markets across the United States. In March, Churchill Downs acquired a majority stake in Rivers Casino in Des Plaines — a 25-minute drive from Arlington — fueling speculation it could sell the racetrack. Terry Link, D-Vernon Hills, said he doesn’t think the racetrack owner is trying to get the upper hand for fall veto session negotiations. 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. The owner of Rivers Casino in Des Plaines is postponing plans for an expansion of the gambling establishment - the state's most lucrative, until it was forced to close because of the coronavirus pandemic. Churchill Downs Inc. CEO Bill Carstanjen on Thursday announced the decision to delay the expansion at. Rivers Casino Des Plaines is one of 27 properties owned by Churchill Downs Incorporated and Rush Street Gaming, LLC. The following ownership information is a subset of that available in the Gaming Business Directory published by Casino City Press. For more information about Gaming Business Directory products visit www.CasinoCityPress.com.

Churchill Downs Inc., owner of Arlington Park in Arlington Heights and host of the Kentucky Derby, announced Wednesday it signed an agreement to buy Rivers Casino in Des Plaines for up to $500 million.

If the deal wins the approval of the Illinois Gaming Board, Churchill Downs would have a 50.1 percent ownership stake in Midwest Gaming Holdings, the parent company of Rivers Casino that's owned by Neil Bluhm.

The deal starts with Churchill Downs' buying all of investment firm Clairvest Group's shares in Midwest Gaming for $291 million. Then Churchill Downs 'offers to purchase' shares of Midwest Gaming held by Rush Street Gaming affiliate High Plaines Gaming LLC, as well as Casino Investors LLC.

Rush Street Gaming and Clairvest Group have controlled the casino since it opened in 2011. Rush Street would continue to manage the daily operations of the casino under the deal, Churchill Downs said. Bluhm is the co-founder and chairman of Rush Street Gaming.

Churchill Downs CEO Bill Carstanjen said the purchase continues the company's strategy of buying properties in populous states likely to allow video gambling and sports betting in casinos.

'We are thrilled to partner with Neil Bluhm and Rush Street Gaming in Rivers Des Plaines,' Carstanjen said in a news release. 'This property is the crown jewel of Illinois gaming and one of the country's premier casinos. This is an exciting opportunity for CDI, given Rivers Des Plaines' superior design, unparalleled location in the Chicagoland market, high-quality amenities and outstanding team.'

But Carstanjen also said on an investors call that Bluhm's and Rush Street Gaming's involvement was critical to the deal, the journal Louisville Business First reported. 'We deeply respect his organization's business and political acumen, and it was critical to our analysis that he wanted to keep his ownership participation and involvement going forward,' he said.

Bluhm would remain board chairman of Midwest Gaming, Politico reported.

Greg Carlin, CEO of Midwest Gaming and Rush Street Gaming, said 'we are excited to be partnering with' Churchill Downs. 'We will work together to ensure that Rivers Casino in Des Plaines continues to be one of the most successful casino destinations in North America.'

Churchill Downs said it anticipates the sale would close in the first half of 2019.

Longtime Arlington Park owner Richard Duchossois sold Arlington Park to Churchill Downs in 2000. Arlington has long struggled to compete with casinos in the suburbs for gambling business, especially the Grand Victoria Casino in Elgin and the more recent Rivers Casino. It has sought permission from state lawmakers to install slot machines -- as many as 1,200 under some proposals -- and games like blackjack or craps, but efforts have fallen flat over nearly two decades.

Arlington Heights Mayor Tom Hayes said in July he and the village board support anything in the short or long term that will help Arlington Park remain open. He said he drafted a letter to state leaders in 2015 in support of expanded gambling at the track, despite his initial opposition.

Meanwhile, Rivers Casino was the only one among the state's 10 casinos that increased revenues this year compared to last, data show. The Reno, Nevada-based Eldorado Resorts bought the Grand Victoria Casino in April for $327.5 million. The Grand Victoria's revenues have steadily declined over the years, despite a slight bump in 2017.

Kelsey McCarson@kelsey_mccarson

Rivers Casino Des Plaines Ownership

August 7^th, 2019 - 09:15am@kelsey_mccarson

The new majority owner of Rivers Casino intends to expand the Des Plaines casino facility and apply for one of the six new casino licenses offered under the state’s newly expanded Illinois gaming program, according to the Chicago Tribune.

Churchill Downs completed its $407 million purchase of Rivers Casino’s parent company, Midwest Gaming, earlier this year, according to a company release. The company seems to be wasting no time in seeking to expand gaming operations in Illinois to full capacity.

Rivers Casino is already the state’s largest casino, and a popular destination for Chicago area residents and visitors. The casino is in Des Plaines, a suburb just north of Chicago’s O'Hare International Airport.

Churchill Downs Wasting No Time

During a recent conference call with shareholders, according to a yahoo.com report, CEO Bill Carstanjen said Rivers Casino has already notified the Illinois Gaming Board that it intends to expand the 1,200 gaming positions it currently offers at the Des Plaines casino to the full 2,000 allowable under new state law.

The expansion will require new construction at the site, but Carstanjen said he expects some of that new space might be handled by restructuring the current layout of the casino.

Carstanjen also said the parking garage is expected to be extended, and that up to 250 additional gaming positions could quickly be created onsite so long as the company receives all the necessary approvals from government officials.

“Rivers will be working with the Illinois Gaming Board to ascertain what is permissible and to scope out the timing and full capital plan,” Carstanjen said.

Additionally, Rivers said the company will seek to invest in the expansion through “utilizing the available debt capacity at the Rivers level or through additional debt raised at the Rivers level.”

Sports Wagering Big Part of Plan

Illinois Gov. J.B. Pritzker signed a sports betting bill into law in June which greatly expanded gaming operations in the state by allowing both online and in-person sports wagers. Carstanjen said Rivers Casino is well positioned to be at the forefront of the new sports betting market in the state.

“Rivers will also pay the $10 million licensing fee in early 2020 to obtain an Illinois sports wagering license and will construct the sportsbook within its existing footprint,” Carstanjen said. “All of this is very, very exciting.”

Moreover, Rivers Casino is expected to offer sports betting both online and in-person. That should help give the company a leg up on the competition, as Illinois' sports betting bill limits sportsbooks offering online wagering menus to only those with ties to brick-and-mortar locations such as Rivers Casino.

“We will participate in this new market through our 61% ownership of Rivers, and certainly, we have the option to do so separately through our horse racing licenses,” Carstanjen said. 'We will announce our plans soon.”

Check out legal online gambling options available at PA Online Casinos

SHARE THIS ARTICLE

sharetweetcopy linkLink copied!WRITTEN BY@kelsey_mccarson<p>Kelsey McCarson, a veteran sports journalist who also covers boxing and MMA, writes about gambling and online casino news for TopUSCasinos.com. He has written for Bleacher Report, TheSweetScience.com and NYFights.com, and his work has appeared in USA Today, CNN and Fox Sports.</p>... Read More<p>Kelsey McCarson, a veteran sports journalist who also covers boxing and MMA, writes about gambling and online casino news for TopUSCasinos.com. He has written for Bleacher Report, TheSweetScience.com and NYFights.com, and his work has appeared in USA Today, CNN and Fox Sports.</p>... Read More

ARTICLES YOU MAY LIKE

MA News

Restrictions Key in Massachusetts Casinos November Decline

Rivers Casino Des Plaines Ownership

By Jim Tomlin

December 16^th, 2020 02:10pm

NJ News

Report: Harrah's Atlantic City Poker Room to Reopen Dec. 26

By Lou Monaco

Rivers Casino Des Plaines Ownership

December 15^th, 2020 04:51pm

NC News

New North Carolina Casino From Catawbas Targets Fall 2021

By Ron Fritz

December 14^th, 2020 04:17pm