Page 2 - Colonial Down News Today

As Colonial Downs prepares to change ownership, the new company has a message for Virginians: “We’re bringing our checkbook.”

Churchill Downs Inc., the company behind the famed Kentucky Derby horse race, has agreed to a $2.485 billion acquisition of Peninsula Pacific Entertainment LLC, the parent company of Colonial Downs

Churchill Downs Inc., the company behind the famed Kentucky Derby horse race, has agreed to a $2.485 billion acquisition of Peninsula Pacific Entertainment LLC, the parent company of Colonial Downs

May 7, 2021, 7:21 am · One of the rejected bidders in Richmond’s casino race has threatened to sue the Virginia city over its selection process for a preferred developer and operator of a Las Vegas-style gambling resort. Richmond received six bids during its request for proposals process and in late March culled half of them. Casino operator Golden Nugget teamed up with year-old entity Bet on Gaming Holdings LLC to jointly table a project for a $400 million...

“And they’re off...” When it comes to the horse racing industry in Virginia and the economic impact it is generating, that’s an appropriate metaphor. According to a newly released study, the industry generated an estimated economic impact of $542.1 million in the Commonwealth in 2019. “What we’re finding is that jobs are coming back, horse racing-related expenditures are up, and tax revenue to the state is increasing,” said John Hannum, Executive Director of the Virginia Equine Al...