Peninsula Pacific Entertainment (P2E) is a

casino A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known for hosting live entertai ...

gaming company based in

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the List of municipalities in California, largest city in the U.S. state, state of California and the List of United States cities by population, sec ...

. It began operations in 1999, doing business through a subsidiary, Peninsula Gaming. Its holdings grew to five properties, until 2012, when Peninsula Gaming was sold to

Boyd Gaming Boyd Gaming Corporation is an American gaming and hospitality company based in Paradise, Nevada. The company continues to be run by founder Sam Boyd's family under the management of Sam's son, Bill Boyd (born 1931), who currently serves as the ...

for $1.45 billion. Afterward, P2E continued to acquire and develop gaming properties. In 2022, it sold the bulk of its assets to Churchill Downs, Inc. for $2.8 billion.

History

Peninsula Gaming (1999–2012)

In January 1999, Los Angeles-based AB Capital agreed to purchase the

Diamond Jo Casino The Diamond Jo Casino is a gambling casino and entertainment complex located in the Port of Dubuque, in Dubuque, Iowa. The casino is owned and operated by Las Vegas-based Boyd Gaming, which also owns the Diamond Jo Casino - Worth in Northwood, Io ...

Dubuque, Iowa Dubuque (, ) is the county seat of Dubuque County, Iowa, United States, located along the Mississippi River. At the time of the 2020 census, the population of Dubuque was 59,667. The city lies at the junction of Iowa, Illinois, and Wisconsin, a r ...

for $77 million. The company's major shareholders were Los Angeles investment banker Brent Stevens and Las Vegas gaming developer Michael Luzich. The purchase was completed in July 1999, by which time the company had changed its name to Peninsula Gaming. In February 2002, Peninsula bought a fifty percent interest in the

Evangeline Downs Evangeline Downs Racetrack & Casino is a racetrack in St. Landry Parish, Louisiana, just east of Opelousas. It is owned and operated by Boyd Gaming. With a one-mile oval track, the facility provides close to 1,000 horse stalls for Thoroughbred f ...

racetrack in

Lafayette Parish, Louisiana Lafayette Parish (french: Paroisse de Lafayette) is a parish located in the U.S. state of Louisiana. According to the 2020 U.S. census, the parish had a population of 241,753, up from 221,578 at the 2010 United States census. The parish seat is ...

from B. I. Moody for $15 million. They bought the remaining half several months later from William Trotter for another $15 million, plus 0.5% of slot revenues for the first ten years. After Lafayette voters had rejected slot machines at the track, Evangeline Downs had planned a move to

St. Landry Parish St. Landry Parish (french: Paroisse de Saint-Landry) is a parish located in the U.S. state of Louisiana. As of the 2010 Census, the population was 83,384. The parish seat is Opelousas. The parish was established in 1807. St. Landry Parish co ...

, which Peninsula carried out. The casino at the new site opened in late 2003, with races following in 2005. In 2004, Peninsula announced a proposed sister casino to the Diamond Jo, to be built in

Worth County, Iowa Worth County is a county located in the U.S. state of Iowa. As of the 2020 census, the population was 7,443. The county seat is Northwood. The county was founded in 1851 and named for Major General William Jenkins Worth (1794–1849), an off ...

at a cost of $40 million. The project was awarded a gaming license in May 2005, and the Diamond Jo Worth opened in April 2006. In 2009, Peninsula proposed building a $150-million racetrack casino in

Des Moines, Iowa Des Moines () is the capital and the most populous city in the U.S. state of Iowa. It is also the county seat of Polk County. A small part of the city extends into Warren County. It was incorporated on September 22, 1851, as Fort Des Moines, ...

that would be a sister property to the

Prairie Meadows Prairie Meadows is a Thoroughbred and Quarter Horse racetrack casino located in Altoona, Iowa, United States. History and information In 1984, Prairie Meadows received a license from the Iowa Racing and Gaming commission to operate a horse racing ...

racino. Prairie Meadows ultimately rejected the plan. In June 2009, Peninsula agreed to buy the Amelia Belle riverboat casino in

Amelia, Louisiana Amelia is a census-designated place (CDP) in St. Mary Parish, Louisiana, United States. The population was 2,459 at the 2010 census. It is part of the Morgan City Micropolitan Statistical Area. History The first postmaster named the town afte ...

from

Columbia Sussex Columbia Sussex is a privately owned hotel company based in Crestview Hills, Kentucky. The company, owned by the Yung family, owns and operates hotels in various parts of the United States. The current president and founder is William J. Yung III. ...

for $106.5 million. The purchase closed in October 2009. In November 2009, the company partnered with a group of local investors in a proposal to build a casino in

Fort Dodge, Iowa Fort Dodge is a city in, and the county seat of, Webster County, Iowa, United States, along the Des Moines River. The population was 24,871 in the 2020 census, a decrease from 25,136 in 2000. Fort Dodge is a major commercial center for North Cen ...

. The application for Diamond Jo Fort Dodge was ultimately rejected by the Iowa Racing and Gaming Commission, over concerns that the casino would draw too much business from the Wild Rose Casino in

Emmetsburg Emmetsburg is a city in Palo Alto County, Iowa, United States. The population was 3,706 at the time of the 2020 census. It is the county seat of Palo Alto County. Emmetsburg is located around the southern bay of Five Island Lake. History The to ...

. Criminal charges were later filed against Peninsula and two of its executives (Brent Stevens and Jonathan Swain), alleging that they improperly funneled $25,000 in campaign contributions to Governor

Chet Culver Chester John Culver (born January 25, 1966) is an American politician who served one term as the 41st governor of Iowa, from 2007 to 2011. A member of the Democratic Party, he had previously served as the 29th secretary of state of Iowa from 199 ...

through three of the Fort Dodge investors. The case was ultimately settled, with the criminal charges being dismissed and Peninsula agreeing to pay the costs of the investigation plus a $4,000 civil penalty. In the settlement agreement, the company and its executives denied that they intended to violate the law. In 2010, Peninsula held discussions with the city of Davenport, Iowa about redeveloping or replacing the Rhythm City Casino, but the company withdrew to focus on its proposed Kansas casino. In July 2010, Peninsula submitted a bid for the sole available casino license in south central Kansas, proposing to build the Kansas Star Casino in Mulvane. The proposal was selected as the winner, and Peninsula opened the casino in a temporary facility in December 2011, moving to a permanent facility in December 2012. In May 2012,

agreed to buy Peninsula Gaming for $1.45 billion. Boyd executives particularly emphasized their interest in the high growth potential of the Kansas Star Casino. The acquisition was completed on November 20, 2012.

Peninsula Pacific Entertainment (2013–present)

Following the sale to Boyd, the holding company that had owned Peninsula Gaming continued to do business as Peninsula Pacific Entertainment. In January 2013, P2E partnered with Warner Gaming in developing the

Hard Rock Hotel & Casino Sioux City Hard Rock Hotel & Casino Sioux City is a casino hotel in Sioux City, Iowa. It is owned and operated by Churchill Downs, Inc. History The proposal for Hard Rock Casino Sioux City was announced in October 2012. The $100-million project would be dev ...

, becoming 50% owners of the property when it opened the next year. P2E bought out Warner's stake in the property in 2020. The company joined with local investors in July 2013 to propose a casino in Cedar Rapids, Iowa. The plan for the Cedar Crossing Casino was rejected by state gaming regulators in 2014 and again in 2017. P2E said in 2022 that it would submit a new proposal to regulators in 2024, after expiration of a two-year state moratorium on new casinos. In 2014, the company joined with

Wilmorite Wilmorite Properties, Inc is a commercial real estate company based in Chili, New York, a suburb of Rochester, New York. A subsidiary of the company owes significant back taxes and fees to the City of Rochester resulting from a loan and tax ag ...

in a proposal for a casino resort in

Tyre, New York Tyre is a town in Seneca County, New York, United States. The population was 1,002 at the 2020 census. The town is named after the Lebanese city of Tyre. The Town of Tyre is located in the northeastern part of the county, northeast of Geneva ...

. The Del Lago Resort and Casino opened in 2017. P2E agreed in 2019 to buy out Wilmorite's stake, becoming the sole owner of the property. P2E bought the DiamondJacks Casino in Bossier City, Louisiana in 2016. The casino closed in 2020 due to the impact of the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

. P2E proposed to use the casino license for a new property, the Camellia Bay Resort and Casino, to be built in

Slidell, Louisiana Slidell is a city on the northeast shore of Lake Pontchartrain in St. Tammany Parish, Louisiana, United States. The population was 28,781 at the 2020 census. It is part of the New Orleans− Metairie− Kenner metropolitan statistical area. Hi ...

, but it was rejected by parish voters. Faced with the threat of revocation of the casino license, P2E agreed in 2022 to sell DiamondJacks to Foundation Gaming. P2E partnered with other investors in 2018 to purchase Colonial Downs, a defunct horse racing track in Virginia. P2E later bought out its partners' stake in the property. The track reopened in 2019, and P2E opened several satellite facilities with

historical racing Historic motorsport or vintage motorsport, is motorsport with vehicles limited to a particular era. Only safety precautions are modernized in these hobbyist races. A historical event can be of various types of motorsport disciplines, from road ...

machines and

off-track betting Off-track betting (or OTB; in British English, off-course betting) is sanctioned gambling on horse racing outside a race track. U.S. history Before the 1970s, only the state of Nevada allowed off-track betting. Off-track betting in New York wa ...

around the state under the Rosie's brand. In February 2022, P2E agreed to sell the bulk of its assets to Churchill Downs, Inc. for $2.49 billion. The sale would not include DiamondJacks or the Cedar Crossing project. The transaction was completed in November 2022, for a final price of $2.75 billion.

Properties

* DiamondJacks Casino — Bossier City, Louisiana (closed) * New Hampshire Group — 4 casinos in New Hampshire

Former properties

* Amelia Belle Casino —

* Colonial Downs —

New Kent County, Virginia New Kent County is a county in the eastern part the Commonwealth of Virginia. As of the 2020 United States Census, its population was 22,945. Its county seat is New Kent. New Kent County is included in the Greater Richmond Region. History N ...

Rosie's Gaming Emporium Rosie's Gaming Emporium is a chain of gambling parlors in the U.S. state of Virginia, owned by Churchill Downs, Inc. and affiliated with its Colonial Downs racetrack. The Rosie's brand was established in 2019. As of 2023, there are seven Rosie ...

— 6 locations in Virginia * Del Lago Resort and Casino —

—

Northwood, Iowa Northwood is a city in Worth County, Iowa, United States, along the Shell Rock River. The population was 2,072 at the time of the 2020 census. It is the county seat of Worth County. Northwood is part of the Mason City Micropolitan Statistical ...

* Evangeline Downs Racetrack & Casino —

Opelousas, Louisiana :''Opelousas is also a common name of the flathead catfish.'' Opelousas (french: Les Opélousas; Spanish: ''Los Opeluzás'') is a small city and the parish seat of St. Landry Parish, Louisiana, United States. Interstate 49 and U.S. Route 190 ...

Off-track betting Off-track betting (or OTB; in British English, off-course betting) is sanctioned gambling on horse racing outside a race track. U.S. history Before the 1970s, only the state of Nevada allowed off-track betting. Off-track betting in New York wa ...

parlors in

Eunice Eunice is a feminine given name, from the Greek Εὐνίκη, ''Euníkē'', from "eu", good, and "níkē", victory. Eunice is also a relatively rare last name, found in Nigeria and the Southeastern United States, chiefly Louisiana and Georgia. Pe ...

Henderson Henderson may refer to: People *Henderson (surname), description of the surname, and a list of people with the surname *Clan Henderson, a Scottish clan Places Argentina *Henderson, Buenos Aires Australia *Henderson, Western Australia Canada * H ...

, Port Allen, St. Martinville *

—

Sioux City, Iowa Sioux City () is a city in Woodbury and Plymouth counties in the northwestern part of the U.S. state of Iowa. The population was 85,797 in the 2020 census, making it the fourth-largest city in Iowa. The bulk of the city is in Woodbury County ...

* Kansas Star Casino —

Mulvane, Kansas Mulvane is a city in Sedgwick and Sumner counties in the U.S. state of Kansas. As of the 2020 census, the population of the city was 6,286. History Mulvane was laid out in 1879 at the junction of five Santa Fe rail lines. It is named for ...

References

External links

* {{official website, https://www.p2e.com/, Peninsula Pacific Entertainment Gambling companies established in 1999 Gambling companies of the United States 1999 establishments in Iowa