Archives for January 14, 2019

Purchase of Presque Isle Downs & Casino by Churchill Finalized

LOUISVILLE, Ky., Jan., 2019 (GLOBE NEWSWIRE) — Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) today announced that it has completed the previously announced purchase of Presque Isle Downs & Casino (“Presque Isle”) in Erie, Pennsylvania from Eldorado Resorts, Inc. (“ERI”) (Nasdaq: ERI) for cash consideration of $178.9 million, subject to certain working capital and other purchase price adjustments. The purchase of the property follows the approval of the transaction by the Pennsylvania Gaming Control Board and the Pennsylvania State Horse Racing Commission. The transaction was funded with cash on hand and through the Company’s existing credit facility.

“Presque Isle will give us a foothold in Pennsylvania and the opportunity to participate in the sports betting and online gaming market throughout the state. This acquisition is projected to be immediately accretive to our shareholders,” said Bill Carstanjen, CEO of CDI. “We are excited about welcoming Presque Isle and its employees to the Churchill family.”

About Presque Isle Downs & Casino
Presque Isle opened its casino in February 2007 and operates approximately 1,600 slots, 32 table games and a poker room. Presque Isle also conducts live thoroughbred racing

Scandal in $2.5M Sports Betting contest?

Ugly Ending to DraftKings Sports Betting National Championship

A national sports betting handicapping contest with a $2.5 million prize pool ended in controversy Sunday in New Jersey, after the Day 3 leader was prevented from making his final wager before the NFC divisional-round game between the Philadelphia Eagles and New Orleans Saints kicked off.

A contestant with the username rleejr86 ended up winning the first DraftKings Sports Betting National Championship instead, grabbing the $1 million first prize with a final bet of $47,500 on the Eagles +8.5.

The Saints won 20-14, but the Eagles covered the spread, boosting rleerjr86’s bankroll to a contest-winning $101,474.

More than 200 bettors from different parts of the country entered the $10,000 buy-in contest and combined to wager more than $5 million during the three-day event that was headquartered in Jersey City.

However, it was the bets that couldn’t be placed by the leader before the final game in the contest kicked off that were the source of dispute.

Professional sports bettor Rufus Peabody, competing under the username Opti5624, was leading the contest heading into the Eagles-Saints game, with a nearly $82,000 bankroll that he compiled after winning an all-in wager on the New England Patriots -3.5 against the Los Angeles Chargers in Sunday’s AFC divisional-round game. The Patriots won …

2019 Dubai Gold Cup plans for Star runner Cross Counter

Cross Counter powered home to win the Melbourne Cup at Flemington in November and his trainer Charlie Appleby has revealed plans for the lightly raced stayer to make his first appearance of 2019 in the Group Two Dubai Gold Cup on March 30.

“Cross Counter has come back from Melbourne stronger and brighter than ever, and he has put on 25 kilos in body weight,” Appleby said on Godolphin’s website.

“He looks great.

“After discussing his program with His Highness Sheikh Mohammed, we have pencilled in the Dubai Gold Cup as a starting point for 2019, and we will see where that takes us.

“It will be an opportunity for His Highness to see Cross Counter on the big night, and also for Godolphin fans in Dubai to give the horse the ‘home town’ welcome he deserves.”

A defence of the Melbourne Cup is among options for Cross Counter.

“A defence of his Melbourne Cup crown is an obvious long-range target but we know he will be getting a lot more weight this time,” Appleby said.

Source: SkyRacingWorld