Following the closing, CDI will operate Hard Rock Sioux City and lease the Sioux City Property pursuant to lease terms negotiated prior to the closing. CDI will acquire the operating company and lease the Sioux City Property from that third party. CDI will also acquire Peninsula Pacific Entertainment’s assets in Virginia and New York.Īccording to the news release, under the terms of the Transaction, Peninsula Pacific Entertainment is expected to reach a definitive agreement to sell the real property associated with Hard Rock Sioux City to a third party.
It is part of a definitive purchase agreement for total consideration of $2.485 billion. SIOUX CITY (KTIV) - According to a news release from Churchill Downs Incorporated, the company plans to acquire the operations of the Hard Rock Hotel and Casino in Sioux City as part of a deal to acquire substantially all of the assets of Peninsula Pacific Entertainment.
