Latham & Watkins Advises Peninsula Pacific Entertainment in US$2.485 Billion Sale of Its Gaming Business to Churchill Downs

Churchill Downs Incorporated (Churchill), home of the Kentucky Derby and Kentucky Oaks, and Peninsula Pacific Entertainment (P2E) have announced that Churchill has entered into a definitive purchase agreement to acquire substantially all of the assets of P2E for total consideration of US$2.485 billion.

Latham & Watkins represents Peninsula Pacific Entertainment in the transaction with a corporate deal team led by Houston partner Trina Chandler, San Diego partner Brett Rosenblatt, and New York partner Caroline Phillips, with Houston associates Thomas Verity, Bryan Ryan, Jessica Sherman, and Vera Bespalova. Advice was provided on tax matters by New York partner Matthew Dewitz, with New York associate Michael Yu; on benefits and compensation matters by Los Angeles partner Larry Seymour, Century City partner Julie Crisp and Chicago partner Nineveh Alkhas, with Los Angeles associate Joe Benedetto; on environmental matters by Los Angeles counsel Aron Potash, with Los Angeles associate Cody Kermanian; on real estate matters by San Diego partner Stephanie Fontanes; on intellectual property matters by New York partner Steven Betensky, Orange County counsel Julie Dalke, Houston counsel Robert Brown, and Bay Area counsel Robert Blamires, with Bay Area associate Adriana Beach; on antitrust matters by Washington, D.C. partner Jason Cruise; on insurance matters by Los Angeles partner Drew Levin, with San Diego associate Hannah Cary; on OFAC matters by Washington, D.C. partner Eric Volkman; and on bonds matters by New York partner Senet Bischoff.