Churchill Downs Incorporated has notified Missouri River Historic Development Inc., the nonprofit that holds the state gaming license for Hard Rock Hotel & Casino Sioux City, that the property is among nine casino facilities the company is considering selling.
The Louisville-based operator filed documents with the U.S. Securities and Exchange Commission this week disclosing that it was exploring the potential sale of nine casino properties, including the Sioux City venue.
Missouri River Historic Development Inc., which holds the Iowa gaming license as part of a long-term operating contract with Churchill Downs, received formal notification of the planned review. The local nonprofit maintains regulatory oversight of the license even as Churchill Downs operates the facility.
“CDI has committed both to their planned capital improvements and to continuing to operate the Hard Rock Hotel and Casino here in a first-class manner, as they always have,” a representative from Missouri River Historic Development said in a statement.
Churchill Downs Incorporated acquired the Sioux City property as part of its portfolio expansion in recent years. The company is best known for owning the Churchill Downs racetrack in Louisville, home of the Kentucky Derby, but operates casinos and gaming facilities across multiple states.
The Hard Rock Hotel & Casino Sioux City operates under a licensing agreement with the Hard Rock brand, which is owned separately by the Seminole Tribe of Florida. Churchill Downs holds the operating rights for the Iowa location.
The SEC filing indicates that the company is conducting a strategic review of the properties but does not commit to a definitive timeline or guarantee that a sale will occur. The other eight facilities under consideration were not immediately detailed in public statements.
According to the notification, planned capital improvements at the Sioux City property will proceed regardless of the ownership review, suggesting that Churchill Downs intends to maintain operations at normal levels during the evaluation period.
Based on reporting by Sioux City Journal.