Chicago Bears Purchase Arlington Casino From Churchill Downs

• Churchill Downs has sold its Arlington International Racecourse to the Chicago Bears.
• Churchill Downs also withdrew its bid for a new casino in Waukegan, Illinois.

CHICAGO – The Chicago Bears have purchased the Arlington International Racecourse from Churchill Downs.

The purchase came to be a $197.2 million acquisition between the two entities and will ensure that no rival company can develop a casino competitor to the Rivers Casino in Des Plaines, only a few miles away from Arlington.

Churchill Downs also announced to withdrawing their bid for a new casino in Waukegan, Illinois, just hours after the Chicago Bears deal was announced.

Chicago Bears Meets Churchill Downs

This purchase of the Arlington Park venue is still under federal review before it can be closed. This is standard procedure for major purchases of this kind.

The Bears organization will be using the Arlington Heights territory for a new $4 billion stadium. Both the Bears organization and the mayor's office in Arlington have expressed excitement for the upcoming development.

"We are excited to have executed a Purchase and Sale Agreement (PSA) for the Arlington Park property," said Ted Phillips, Bears President and CEO. "We are grateful to Churchill Downs Incorporated for their efforts to reach this point. We also appreciate the support of Mayor Tom Hayes and the Village of Arlington Heights. Finalizing the PSA was the critical next step in continuing our exploration of the property and its potential. Much work remains to be completed, including working closely with the Village of Arlington Heights and surrounding communities, before we can close on this transaction. Our goal is to chart a path forward that allows our team to thrive on the field, Chicagoland to prosper from this endeavor, and the Bears organization to be ensured a strong future. We will never stop working toward delivering Bears fans the very best experience. We will continue to provide updates on our progress at the appropriate time."

The stadium will likely be completed by 2026. Chicago has been looking to move to a new stadium for some time and now that they have a location, they are one step closer to that reality for the team.

Churchill Downs benefits from this deal as the area is only a few miles from the Rivers Casino in Des Plaines, which is a major resort for Churchill Downs Inc., who will now be able to hold onto the surrounding local gaming base with no risk of regulated gambling competition.

Churchill Downs Withdraws Bidding

Interestingly enough, Churchill Downs also pulled its interest in a Waukegan-based casino. The company has stated that this is just a coincidence.

“We thank the City of Waukegan, Illinois Gaming Board, and others who had reviewed our application and appreciated the opportunity to be considered,” read an official email from the Bluhm’s Group. “We wish the city and remaining bidders well.”

The Illinois gambling landscape is seeing a variety of changes to its industry happening all at once.