River Downs sold for $45 million

[CoastersRZ]

LAS VEGAS (AP) — Las Vegas casino operator Pinnacle Entertainment Inc. said Friday it has reached a deal to buy Cincinnati's River Downs Racetrack for $45 million.

Read more on Cincinnati.com here: http://news.cincinnati.com/article/20101126/BIZ01/311260009/River-Downs-sold-for-45-million

This was first reported in the news back about a month ago, but was never officially confirmed. (See this topic: http://www.KICentral.com/forums/index.php?showtopic=22937)

[The Interpreter]

Oh, my. I wonder what that bodes for the future of Coney Island of Ohio.

[CoastersRZ]

I do not know. River Down`s parking lots are used for concert parking at Riverbend (in addition to Coney`s lots). It will certainly be interesting to see what changes this new owner does to the complex.

I believe that their undeveloped acreage is actually an open field on the NORTH side of Kellogg Avenue, which is used for parking at the sold out Riverbend shows. If they eventually develop that, there could be a parking shortage during Riverbend shows.

[CoastersRZ]

UPDATE:

Pinnacle gets OK to buy River Downs

The all cash transaction is expected to close later this month.