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DES PLAINES, Ill., Dec. 13, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) and Rush Street Gaming announced today that their joint venture, Rivers Casino Des Plaines, has opened its new 4,840 square foot state-of-the-art BetRivers SportsBar. The BetRivers SportsBar features a 47-foot-wide ultra HD LED video wall and ten 86-inch and four 75-inch HD televisions placed throughout, offering patrons a panoramic view of live sports events. The new bar will also have a full service island bar with seating for 32, 26 bar-top video poker games, 32 leather lounge chairs and additional table seating options.

The BetRivers SportsBar space was designed to provide an ultra-luxury viewing experience for Chicago’s sports fans looking for an engaging game-day experience and will eventually be home to the casino’s sports book pending Illinois Gaming Board regulatory approval.

“The BetRivers SportsBar will provide an experience that rivals a live game-day stadium,” said Corey Wise, General Manager of Rivers Casino Des Plaines. “We will offer sports fans a premium luxury experience with great visuals, acoustics, service and comradery with fellow sports fans.”

Rivers Casino Des Plaines has also added a new table-game area on the casino floor adjacent to the BetRivers SportsBar. Additional slot machines and table games have been added throughout the facility along with new viewing screens in the Lotus cocktail lounge in the center of the casino for watching sporting events. In total, this phase of the expansion has resulted in an increase of 115 slot machines and 8 table games. Expansion of the Rivers Casino Des Plaines parking garage is expected to be complete by summer of 2020.

About Rush Street Gaming
Founded by Neil Bluhm and Greg Carlin, Rush Street Gaming and its affiliates, headquartered in Chicago, Illinois, have developed and operate successful casinos in Niagara Falls, Ontario, Pittsburgh and Philadelphia, Pennsylvania, Des Plaines, Illinois (Chicago area) and Schenectady, New York. Rush Street Gaming and its affiliates have become one of the leading casino developers in the United States and operators of online casinos and sports books. Additional information at: www.rushstreetgaming.com.

About Churchill Downs Incorporated
Churchill Downs Incorporated ('CDI') (Nasdaq: CHDN), headquartered in Louisville, Ky., is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event - The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville. We also own and operate the largest online horseracing wagering platform in the U.S., TwinSpires.com, and are a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines / video lottery terminals and 200 table games in eight states. We also operate sports wagering and iGaming through our BetAmerica platform in multiple states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

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Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this presentation are made pursuant to the Act. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” and similar words, although some forward-looking statements are expressed differently.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from expectations include the following: the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit; additional or increased taxes and fees; public perceptions or lack of confidence in the integrity of our business; loss of key or highly skilled personnel; restrictions in our debt facilities limiting our flexibility to operate our business; general risks related to real estate ownership, including fluctuations in market values and environmental regulations; catastrophic events and system failures disrupting our operations; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; inability to identify and complete acquisition, expansion or divestiture projects, on time, on budget or as planned; difficulty in integrating recent or future acquisitions into our operations; number of people attending and wagering on live horse races; inability to respond to rapid technological changes in a timely manner; inadvertent infringement of the intellectual property of others; inability to protect our own intellectual property rights; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; work stoppages and labor issues; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; personal injury litigation related to injuries occurring at our racetracks; our inability to utilize and provide totalisator services; weather conditions affecting our ability to conduct live racing; increased competition in the horseracing business; changes in the regulatory environment of our racing operations; changes in regulatory environment of our online horseracing business; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; costs, delays, and other uncertainties relating to the development and expansion of casinos; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs.

Nick Zangari
(502) 394-1157
[email protected]

Rosemont will get $2.8 million in a settlement resolving a long-running dispute over the failed Emerald Casino bid.

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The payout represents a fraction of what the village sought -- at least $45 million -- from six former Emerald officers as part of a bankruptcy proceeding.

The town spent another $10 million in legal fees over the last two decades, as its attorneys sought to recoup construction costs mostly related to the village's building of a 7-level, 8,500-space parking garage for a casino that never materialized.

Rivers Casino Parking Garage Cost Estimator

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Rivers Casino Parking Garage Costs

That Williams Street garage today serves the 200,000-square-foot Parkway Bank Park village entertainment district, much of it on the site envisioned for the casino. The garage has unused elevator shafts that were intended to transfer casino money to armored vehicles.

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'We were in a negative position cash-wise,' said Mayor Brad Stephens. 'But we have a parking garage as an asset. We were never going to recoup the legal fees, but it's better than getting nothing.'

'We were handed lemons and made some pretty tasty lemonade,' he said of the entertainment district, which opened in 2012.

The settlement comes from a pool of money secured by a bankruptcy trustee, as ordered by a federal judge in 2014. The judge ruled that six former Emerald officers owed creditors $272 million for losing the company's gambling license, after they failed to comply with Illinois Gaming Board rules and regulations.

The casino site along the Tri-State Tollway was a flurry of construction activity in 2001 when regulators started investigating allegations of mob ties of potential Emerald investors. The state eventually revoked the corporation's gambling license after determining company officials lied about investors and withheld other key information they were required to disclose.

Meanwhile, the state's 10th gambling license ended up going to the operators of Rivers Casino, across the street from Rosemont in Des Plaines.

Of 100 different creditors, only a few are left, many having been paid by Emerald's bankruptcy trustee through previous settlements.

Rivers Casino Parking Garage Cost

There are still some unresolved claims in the lawsuit originally filed in June 2002 by the village and contractors. That includes a claim from the general contractor, which was a partnership between Degen & Rosato Construction Co. and Power Construction.

Stephens said the village could have gone to trial on its claims related to the parking garage, but there was a risk of not getting any money, so officials agreed to settle.