Clicky

Churchill Downs Takes Over Operations at Lady Luck Casino - PennsylvaniaPoker.com News % : PennsylvaniaPoker.com News
  • 47 views
  • 3 minutes read
Published on
Update on

Following the approval by the Pennsylvania Gaming Control Board on March 6, 2019, Churchill Downs Incorporated has finally followed through with its plans to assume operations at the Fayette County-based Lady Luck Casino in Nemacolin. According to the Nasdaq-listed and Kentucky-based gaming, racing, and entertainment group’s Friday press release, they paid a cash consideration of $100,000 to Eldorado Resorts Inc., the Reno-based company that was previously operating Lady Luck Casino. Eldorado Resorts will, however, retain ownership of the property with Churchill Downs only assuming management operations of the casino along with certain specific assets that will also be related to management.

Opened back in 2013 by St. Louis-based Isle of Capri Inc. and Nemacolin Woodlands Resort, the Lady Luck casino came under the ownership of Eldorado Resorts in 2017 when Eldorado acquired Nemacolin Woodlands Resorts for a whopping $1.7 billion. The casino boasts of 27 table games and 600 slot machines which is a fairly small number – it remains to be one of the least profitable gaming facilities in the Pennsylvanian market.  To put this into perspective, the casino had $28.2 million in slot winning in 2018 and this was a 6.2 percent decline from the slot winning recorded in the previous year.

Table games, on the other hand, generated a mere $4 million in 2018 which represented a larger 11.3 percent decline from 2017. These revenue figures were the worst among the 12 land-based casinos currently operating in Pennsylvania and this has been largely attributed that its gaming supply is reminiscent of a satellite casino instead of a full-fledged Vegas-style gaming establishment. Hopefully, things might finally change for the better with Churchill Downs at the helm of its operations.

Sports Betting Plans

While Lady Luck Casino does not have a sports betting license and is yet to apply for one, Churchill Downs has had its sights set on that particular sector for quite some time own. The company also owns and operates the Erie-based Presque Isle Downs & Casino which was granted a sports betting license by the Keystone State’s gaming control board in early February 2019. Now, the casino plans to construct a massive 1,275-square-foot sportsbook adjacent to its equally impressive seven-table poker room. This Presque Isle Downs sportsbook will feature 50 self-service betting kiosks and many more betting windows.

With both Presque Isle Downs and the Lady Luck Casino, Churchill Downs’ grand plan seems to be mobile and mobile betting services which are expected to go live in Pennsylvania sometime this year. Unfortunately, there are still a couple of issues that need to be ironed out first, especially with regards to the Wire Act before everything can get back on track.

Editor's Picks

New Mount Airy Poker Room Opens with PokerStars

The Mountain Airy Casino has officially opened its new venue for poker and sportsbetting. It has been launched in partnership with PokerStars, and presents players with a brand new place to experience exciting gaming activities. The grand opening of the venue took place on November 9th. The sportsbook features 40 televisions and 8 kiosks for […]

PokerStars PA’s First Week: Important Stats

PokerStars PA launched last week, and received a very enthusiastic welcome from players across the state. Here are some of the most important numbers from this important week in online poker history. The testing period for PokerStars PA lasted for two days. On the first day, 700 players signed up while 1100 joined the second […]

PokerStars PA Gets the Green Light

If you’re an online poker fan in Pennsylvania, you’re now able to use your computer or mobile device to play in exciting poker games and tournaments without ever leaving your house. PokerStars’ two-day soft launch was a big success, and the site is now fully available to players across the state. The soft launch occurred […]

Similar PA Casinos Post

Hollywood Casino to Puff Up Its App Store Offerings

Hollywood Casino has been one of the Keystone State’s casinos that have been at the helm of the statewide gambling expansion that kicked off on October 2017. The casino was the first in the state to offer sports betting and it was also the first one to have its online betting site available to bettors […]

Tides Turn for Pennsylvania’s Lady Luck Casino Nemacolin

The Keystone State’s gambling industry has been thriving thanks to a number of new developments in both the retail and online gambling sectors. Even so, not everything has been as rosy as we may hope and one of the issues that the state’s gambling industry has been grappling with has been the declining interest in […]

Pa. Gets Serious About Restricting Online Play at Casinos

Online sports betting and online casinos have been a reality in the Keystone State for over a month now and it is every bit as exciting as many of the state’s residents expected it to be. The state’s online gambling sector was among the most anticipated ones in the United States and now that it […]

PGCB Approves Slot Machine Reduction Proposals by Three Operators

The Pennsylvania Gaming Control Board’s August hearing was a very busy one and it saw to a number of significant regulatory actions. Members of the gaming control board tackled some very important issues including the renewal of Stadium Casino’s five-year license for its upcoming Philadelphia casino. At the Harrisburg hearing, the PGCB also announced that […]