The new owners of Rivers Casino Des Plaines are planning major expansion at the property, The Chicago-Sun Times reported Thursday.
News about the project at Illinois’ highest grossing casino arrive amid preparations for the largest expansion the state has seen since gambling became legal.
Earlier this year, Kentucky-based casino and racetrack operator Churchill Downs Inc. purchased a 62% stake in Rivers Casino in a $326 million deal. The move expanded the company’s presence in Illinois beyond its ownership of Arlington International Racecourse in the greater Chicago area.
The expansion at Rivers Casino is possible due to a sweeping gaming legislation recently signed into law by Illinois Gov. J.B. Pritzker as the state is looking for new revenue sources. Said legislation allowed for the legalization and regulation of sports betting, the addition of more gaming machines at the state’s existing casinos and racetracks, and the development of up to six new casinos, including a mega-complex with 4,000 gaming positions in Chicago.
Mr. Carstanjen said Thursday that Churchill Downs will bid for one of the six new casino licenses that will soon be up for grabs, but did not specify whether his company eyed specifically the Chicago one.
Expansion at Rivers Casino
As mentioned earlier, Churchill Downs plans to add a sportsbook at Rivers Casino Des Plaines to make sure that its property will enter the state’s nascent sports betting market.
The property will also have its gaming floor and its parking garage expanded as part of the full expansion plan.
Mr. Carstanjen told investors Thursday that they plan to pay $24 million in license fees next year for the right to add 800 gaming positions at the property. This will bring Rivers Casino’s total gaming positions to 2,000.
The executive further clarified that they could add between 200 and 250 gambling positions as soon as the Illinois Gaming Board reviews and approves their license application. However, the addition of all 800 positions will require expansion of the casino floor.
Rivers Casino Des Plaines has been Illinois’ winningest casino since it opened doors in 2011. According to industry stats by the state Gaming Board, the property generated $442 million in gaming revenue last year, and took in more than $219 million during the first half of 2019.
Aside from Rivers Casino, Churchill Downs said Thursday that it had plans for Arlington International Racecourse. Under Illinois’ new gaming law, the state’s racetracks will be able to offer up to 1,200 gaming positions for both slot machines and table games in addition to horse racing. Mr. Carstanjen said that they would apply for those additional positions, but did not provide more information about what else they had planned for the racetrack.
Churchill Downs operates multiple casino and racetrack properties in a number of states around the country. Since last year’s strikedown of the long-standing federal ban on sports betting, the company has opened BetAmerica-branded spots betting facilities across numerous locations to complement its existing gambling offering.
Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories
