Churchill Downs Casino Erie Pa

| 11-05-2021
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When the online gambling expansion law first passed in Pennsylvania, no one thought Presque Isle Downs would be much of a contender. The racino in Erie, PA is only 10 years old. It is also one of the smaller casinos in Pennsylvania. The property features over 1,500slot machines and around 40table games.

Churchill Downs Inc. Is positioning itself for a world with legal sports betting. The Kentucky-based horse racing company has announced plans to purchase two casinos, including one in Pennsylvania.And PA sports betting could be legal later this year. Churchill Downs buys PA racino. CDI is set to acquire the Presque Isle Downs & Casino in Erie.The current owner, Eldorado Resorts, announced the. Dec 25, 2019  Text. COUNTDOWN TO 2020 WITH THESE GREAT GIVEAWAYS TUESDAY, DECEMBER 31, 2019 AT PRESQUE ISLE DOWNS & CASINO! ERIE'S BIG THREE MINUTE PENNY MINUTE MADNESS $20 LATE At Churchill's MADNESS POUNDER RANDOMONIUM Bourbon & Brew NIGHT BUFFET 1pm-3pm 11am-12:39pm 4pm-5pm 8pm-11pm 10pm-1:30am 12am-2am CHURCHILL'S BOURBON & DOLLAR.

That all changed in March of 2018 though. That was when Kentucky company Churchill Downs Inc. (CDI) announced the purchase of Presque Isle Downs in a deal for two casinos in exchange for $229.5 million.

When speaking about the acquisition Churchill Downs CEO Bill Carstanjen was abundantly clear about why the company was moving into the Keystone State:

“We are excited about welcoming both of these properties to the Churchill family. Presque Isle will give us a foothold in Pennsylvania which has recently passed legislation authorizing real money online gaming.”

CDI is a huge gambling company with a successful wagering program in TwinSpires.

Eldorado Resorts was the counter-party to the deal. Eldorado also owns the Lady Luck Casino in Nemacolin.

The deal was re-jigged to include CDI taking managerial control of Lady Luck, and finally closed on December 11.

CDI now has stakes in two casinos in Pennsylvania, and big ambitions to expand elsewhere in the US. It will soon launch online sports betting and casino in New Jersey in partnership with the Golden Nugget.

Sports betting is the spur to that expansion. CDI has moved quickly to apply for a Pennsylvania license for Presque Isle.

At a cost of $10 million, CDI applied to the Pennsylvania Gaming Control Board for a sports betting license on December 7. The license will allow both online and live casino sports betting.

Presque Isle has also applied for interactive licenses that will allow online casino games and slots. It will not be offering online poker.

CDI’s technology partner for sports betting and online operations is SBTech. The two signed a deal in the same week that the SupremeCourt overturned PASPA, so no surprise that Presque Isle is entering the sports betting market.

Presque Isle Downs online casino platform

At the beginning of November, CDI CEO Bill Carstanjen told investors that the company would launch online in New Jersey :

“We are in the process of obtaining our company and key employee gaming licenses. In addition, our gaming technology partner, SBTech, is in the process of getting their platform licensed. We believe we will be operational in the fourth quarter with the suite of online casino and sports betting products.”

The New Jersey launch will come before the Pennsylvania launch which is not expected until Q1, or possibly Q2 of 2019. The Jersey version of the online platform will give an early look at what Presque Isle will offer in Pennsylvania.

The decision not to offer online poker is a major change in strategy for CDI.

In 2011, CDI purchased BLUFF Media, a poker-centered magazine and website. The plan at the time was to leverage the BLUFF name should the online poker market open up. Since then, the company shuttered all but a bare-bones version of the site though.

The company also invested in the social games space by acquiring Big Fish Games. The company sold off Big Fish for $1 billion last December.

CDI has been around the houses in its plans, but finally it is clear that Pennsylvania customers will get live and online sports betting, online casino and slots games.

Browser and mobile-based play

In the regulated New Jersey online casino market, most every online casino offers both a browser-based version of its online casino and a mobile app.

On both versions, there are certain identification measure to ensure the player is over the age of 21. Additionally, there is geolocation technology which verifies players are within the state. These players do not have to be residents though, all they need to be is physically located within the state.

The same standards will apply in PA and for the Presque Isle Downs online casino.

Games at Presque Isle Downs online casino

SBTech offers 1,500+ Casino, Live Casino & Virtual Sports games. Partners include NetEnt, Microgaming, Kiron & other leading providers.

Presque Isle will choose from this selection what games it thinks will work best in the Pennsylvania market.

Whether or not live dealer casino games are offered is still up in the air. There may be regulatory issues that prevent or at least delay the launch of live dealer options.

Presque Isle Downs online video poker

Most online casinos offer at least a couple of versions of video poker. How many varieties a site like Presque Isle Downs’ offers depends on what it chooses from the SBTech options.

Blackjack at Presque Isle Downs online casino

Given its status as the most-popular table game, Presque Isle Downs will almost certainly offer Blackjack. Moreover, online table games are taxed at a substantially lower rate than slots, so CDI will certainly try to generate as much table game revenue as it can.

Presque Isle Downs may not offer quite the bells and whistles a player may find in New Jersey though. Side bets and other elements of Blackjack, like insurance, vary based on state regulations.

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In brick-and-mortar casinos in Pennsylvania, the Blackjack rules favor the casino much more than they favor the player, so expect a tighter game online.

Presque Isle Downs online casino slots

The taxes are high on online slot games in Pennsylvania, 54 percent to be exact. With such a high tax rate, slots may not play as big a role in gaming revenue as in New Jersey.

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Slots players in land-based Pennsylvania casinos can also tell you that PA slots are some the tightest in terms of return to player (RTP) in the country.

Presque Isle Downs online casino rewards program

Presque Isle Downs Casino has a customer loyalty program for customers called One Club. With an online casino, it is likely the casino will incorporate One Club into the interface, linking the live and online casino rewards systems.

Given its relationship with CDI now, there could also be integration with other racetrack properties, though CDI does not have any sort of player rewards system as of now.

Banking options at Presque Isle Downs online casino

Deposit options

A Presque Isle Downs online gambling site should be ready to accept:

  • Visa
  • Mastercard
  • Prepaid Cards
  • Neteller
  • Electronic checks
  • Bank wire
  • Check
  • PayPal
  • Cash at the Presque Isle Downs cage

Withdrawal options

Players should be able to receive payouts from Presque Isle Downs online casino the same way they make deposits. The most likely withdrawal options are electronic checks, wire transfers, traditional checks, Neteller, PayPal, and cash payouts at the casino cage.

Presque Isle Downs online casino customer service

When it comes to customer support, the ideal for Presque Isle Downs would be to offer all three channels for players to reach out 24/7. At the very minimum, expect prompt email support.

  • Email
  • Toll-free phone number
  • Livechat

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Churchill Downs Incorporated announced this morning that it has signed an asset purchase agreement to assume management of Lady Luck Casino Nemacolin in Farmington, PA from Eldorado Resorts Inc.

The asset purchase agreement is conditional upon the finalization of another previously-announced agreement for Churchill Downs to acquire Presque Isle Downs & Casino in Erie, PA for $179.8 million, also from Eldorado Resorts Inc.

Churchill Downs has been expanding its presence across the United States for some time now. Earlier this year, Churchill Downs reached an agreement with Eldorado Resorts to acquire Presque Isle Downs & Casino in Pennsylvania and Lady Luck Casino in Mississippi for $229.5 million. Both casinos exist in states that have passed legislation to legalize sports betting.

The deal to purchase Presque Isle in PA and Lady Luck in MS as a package fell through after the FTC expressed antitrust concerns. For what it’s worth, Churchill Downs Inc also owns the Riverwalk Casino which is adjacent to the Lady Luck Vicksburg.

After the FTC asked Churchill Downs and Eldorado Resorts for additional information regarding the deal, the companies mutually decided to end the deal after deciding the time and expense of responding to the FTC’s request would be significant.

Churchill Downs paid Eldorado Resorts a $5 million termination fee as written into their original agreement. The Presque Isle purchase will still go through as originally planned, but now Churchill Downs and Eldorado have altered the deal to scrap the sale of the Lady Luck Vicksburg and instead transfer operations of Lady Luck Nemacolin in Pennsylvania to Churchill Downs for $100,000.

In other words, Churchill Downs Inc will gain control of two casinos in Pennsylvania once this deal is completed. Churchill Downs will outright own Presque Isle Downs & Casino and will take over management of Lady Lucky in Farmington.

Presque Isle Downs Casino

Downs

Presque Isle Downs Erie

In a press release, Churchill Downs Inc said the closure of this deal is conditional upon the receipt of gaming licenses from the Pennsylvania Gaming Control Board and a racing license from the state Horse Racing Commission. If all goes well, the company expects to complete the transaction in the fourth quarter of 2018.

Churchill Downs Positioning Itself in the US Sports Betting Market

Churchill Downs Inc, most famously known for hosting the annual Kentucky Derby and operating horse racing site TwinSpires.com, is intent on entering the US sports betting market and has made several moves of late bringing the company closer to that goal.

Just two days after the Supreme Court ended the federal sports betting prohibition, Churchill Downs announced a partnership with the Golden Nugget Casino to run an online sportsbook and casino in New Jersey. A statement issued at the time stated Churchill Downs plans to begin taking wagers online in the first quarter of 2019.

Churchill Downs Casino Erie Pa

Churchill Downs also announced on that same day that it has reached an agreement with online gaming platform SBTech to enter the online gaming and sports betting markets in New Jersey, Pennsylvania and Mississippi.

Churchill Downs Presque Isle Downs

With today’s deal, Churchill Downs is set to have a presence in three states that have legalized sports betting since the May Supreme Court decision:

Churchill Downs Properties

  • New Jersey via deal with the Golden Nugget in Atlantic City
  • Pennsylvania via Lady Luck Casino Nemacolin and Presque Isle Downs
  • Mississippi via Riverwalk Casino in Vicksburg (owned by Churchill Downs since 2012)