Mississippi Casino to be Bought for $138 Million
Harlow’s Casino Resort and Hotel
Harlow’s Casino Resort and Hotel in Mississippi is to be acquired by horse racing company Churchill Downs Inc. Harlow’s has been open since 2007 and is currently owned by Levine Leichtman Capital Partners Inc. and Oak Hill Advisors LP, as well as private investor Jess M. Ravich. When it first opened, the resort was valued at around $70 million and is located near the Mississippi River.
The resort is themed in the style of the 1930’s and in addition to its casino with 841 slot machines, 23 table games and a poker room, it also includes 105 hotel rooms and a 2,600 seat arena as well as three separate dining areas. Churchill Downs Inc. are best known for their influence in horse racing, most notably being the operators of the Kentucky Derby. However this move signals the intent to expand their horizons and venture in to the gaming industry.
CEO Robert L. Evans said: “We are continuing to diversify across racing, gaming and other business units”. He also confirmed that all of the 400 Harlow Resort’s staff would keep their jobs and that Churchill Downs Inc. hope to build upon the success already achieved by the hotel and casino.
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