Gilbert’s Jack Entertainment sells casino, horse track
Cincinnati – Hard Rock International has reached a deal with Jack Entertainment to buy a Cincinnati casino and a horse track in Kentucky.
The $780 million deal announced Friday will give Hard Rock and VICI Properties control of Jack Cincinnati Casino and Turfway Park in Florence, Kentucky.
Hard Rock will oversee operations at both sites.
Businessman and Cleveland Cavaliers owner Dan Gilbert owns Detroit-based Jack Entertainment.
Jack Entertainment says the deal won’t affect its Cleveland casino or Jack Thistledown Racino in northeast Ohio.
The deal will need approval from state and federal regulators and is expected to be completed by the end of the year.
Jack Casino in downtown Cincinnati brings in nearly $200 million a year in gambling revenue.