Churchill Downs buying Riverwalk Casino and Hotel in Miss.

Oct 8, 2012 10:16 AM

Churchill Downs Inc. is buying a Mississippi casino and hotel for $141 million cash.

The company said on Friday the agreement to buy Riverwalk Casino and Hotel in Vicksburg is contingent on receiving a gaming license. The deal is expected to close by year’s end.

Churchill Downs also owns Harlow’s Casino Resort & Hotel in Greenville, 90 miles north of the Riverwalk property.

Riverwalk and Rush Street Gaming CEO Greg Carlin said operations at the company’s remaining casinos in the U.S. and Canada are unaffected by the deal. Riverwalk opened in 2008 and is operated by Magnolia Hill LLC and owned by High River Gaming LLC, JB3 Corp. and Taiman Holdings Corp.

The property includes a 25,000-square-foot gaming floor, an 80-room hotel, a multifunctional event center and two dining areas.

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