Colonial Downs, Rosie’s Gaming Emporiums sold to Churchill Downs Inc.

Colonial Downs along with Rosie’s Gaming Emporiums, that operates in New Kent County along with other localities in Virginia, has been sold.

Churchill Downs Inc. has agreed to acquire Peninsula Pacific Entertainment LLC., the company that owns the aforementioned entities, for $2.485 billion. Churchill Downs is famous for being the host site for the Kentucky Derby.

The purchase comes as a major acquisition by the company for locations in Virginia, New York, and Iowa. Along with Colonial Downs and Rosie’s in New Kent, other Virginia properties in the sale include Rosie’s Gaming Emporiums in Collinsville, Dumfries, Hampton, Richmond, and Vinton. Churchill Downs Inc. can also develop an additional five historical racing entertainment venues.

The change in ownership is expected to be finalized by the end of the year and will need approval from the Virginia Racing Commission.