On January 28, Pinnacle Entertainment, Inc. announced that it closed on its previously announced acquisition of River Downs Racetrack in southeast Cincinnati, Ohio
. Pinnacle funded the $45 million acquisition with cash on hand.
Anthony Sanfilippo, president and CEO of Pinnacle Entertainment, commented, "We are excited to officially welcome River Downs into Pinnacle's family of properties. Our intent remains to quickly move to revitalize River Downs as a new gaming, racing and entertainment destination if video lottery terminals (VLTs) become operational in Ohio. Its location is expected to complement our existing Belterra Casino Resort, less than one hour away."
River Downs Racetrack, located directly off of Interstate 275 in southeast Cincinnati, recently celebrated its 85th anniversary of thoroughbred racing. One of North America's most picturesque racecourses, the track is situated on approximately 160 acres of land, 40 of which are currently undeveloped, and offers live thoroughbred racing from mid-April through Labour Day as well as simulcast wagering throughout the year broadcast on more than 500 monitors throughout the facility. River Downs features a grandstand with open-air seating, the pavilion which includes seating for 50 to 300 guests as well as a private bar and grill, and the Turf Terrace in the upper Clubhouse with tableside monitors, a bar, buffet options and formal seating.
(Pinnacle Entertainment Inc.)