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Churchill Downs completes $141M acquisition

Tuesday, 23 Oct 2012 | 1:39 PM ET

LOUISVILLE, Ky. -- Churchill Downs has completed its approximately $141 million acquisition of a Mississippi casino and hotel.

The gambling and racing company announced the transaction to buy the Riverwalk Casino and Hotel in Vicksburg earlier this month.

Riverwalk opened in 2008 and is operated by Magnolia Hill LLC and owned by High River Gaming LLC, JB3 Corp. and Taiman Holdings Corp. The property includes a 25,000-square-foot gaming floor, an 80-room hotel, a multifunctional event center and two dining areas.

Churchill Downs Inc. said Tuesday that the acquisition received approval from the Mississippi Gaming Commission.

Shares of Churchill Downs shed 74 cents to $61.54 in afternoon trading amid a broad market decline. Its shares have traded between $42.14 and $65.34 over the past year.

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