Kentucky’s Turfway Park, Jack Cincinnati Casino to be sold for $780 million to Hard Rock

JACK Entertainment LLC on Friday announced that it has entered into multiple contracts to sell Turfway Park in Northern Kentucky and JACK Cincinnati Casino to Hard Rock International and VICI Properties for $780 million, pending regulatory approval.

Hard Rock International will be responsible for the operations at both properties, a statement on the Jack Entertainment website said.

“We viewed the gaming industry as a catalyst for economic development in our local communities,” Matt Cullen, chief executive officer of JACK Entertainment said in a news release. “After ten years, hundreds of millions of dollars of investment developing JACK Cincinnati Casino from the ground up, and establishing a strong customer focused culture, we have successfully positioned JACK Cincinnati Casino for further future success. We are confident that Hard Rock and its world-renowned brand will be a great addition to the Queen City and the right choice to take JACK Cincinnati Casino and Turfway Park to the next level of growth. “

“We chose to sell to Hard Rock, in large part, due to its great culture and quality of its leadership. ,” Cullen said. Turfway Park is in Florence, Ky.

The VICI Properties Inc. website said it is the owner and developer of gaming, hospitality and entertainment destinations.

The transaction, expected to be finalized sometime in late 2019, requires regulatory approval, both at the federal and state levels.

The businesses will remain open during the change in ownership, according to JACK Entertainment.

JACK Cleveland Casino and JACK Thistledown Racino in Cleveland will not be affected by the transaction, officials said.

This story was originally published April 5, 2019 at 9:28 AM.