If everything goes according to plan, Churchill Downs could soon own a majority stake in Rivers Casino Des Plaines in Illinois. The gaming giant has its sights on Illinois as the state looks to introduce sports gambling and it’s possible that the company could receive approval to grab Rivers before the end of this week.
Churchill Downs announced last fall that it wanted to purchase a 50.1% stake in the casino, just enough to have a controlling interest. The move was designed to help the Kentucky-based entity gain a larger foothold in Illinois, where it already owns the Arlington International Racecourse in Chicago.
According to the Chicago Daily Herald, the Illinois Gaming Board (IGB) is now investigating Churchill Downs in order to ensure that it meets the state’s requirements. It is looking into issues, such as the company’s financial situation, and conducting criminal background checks on its executives. These investigations are routine processes for any approval given by the IGB.
IGB board members could vote on the deal as early as this Friday, the next time they are scheduled to meet. According to IGB spokesperson Gene O’Shea, the investigation is continuing and may not be completed ahead of this Friday’s meeting.