Cancellation of the deal
The planned sale of the Wildwood Casino in Cripple Creek, Colorado has been cancelled. Saratoga Harness Racing was set to buy the property from the American Gaming Group (AGG), but both businesses have been negatively impacted by the ongoing coronavirus pandemic and have agreed to terminate the purchasing agreement.
Wildwood Casino owner Joe Canfora spoke about the dissolution of the deal, saying: “At this time, we believe it’s in the best interest of both companies, and our respective casinos, to cancel the deal so we can focus on doing what’s best for our casinos and our players.”
the facility is putting in place extensive new health and safety protocols
As the Wildwood Casino gets ready to reopen, Canfora reiterated that the facility is putting in place extensive new health and safety protocols, even above what is required by local and state guidelines. This will ultimately help create a gaming environment that is safe and comfortable for players.
Origins of the sale
Saratoga Harness Racing initially committed to acquire Wildwood Casino on March 11, shortly before the pandemic began to spread widely across the United States. Most of the country’s tribal and commercial casinos have been closed since mid-March.
There is no clear indication as to when the commercial casinos in Colorado will be able to reopen.
Background of the two parties
In March, Wildwood Casino signed a deal with sports betting technology provider ISI Race & Sports. The casino was given approval from the Limited Gaming Control Commission in Colorado for a master sports betting license. The first legal sportsbooks in the state opened on May 1, 2020.
Wildwood still plans to build a new 104-room hotel that will cost $14m
Despite the sale falling through, Wildwood still plans to build a new 104-room hotel that will cost $14m and rebrand its restaurant, Joe’s Diner.
The casino was in the news for the wrong reasons in September 2019 when a former employee filed a sexual harassment lawsuit against the venue.
Saratoga Harness Racing is the operator of the Saratoga Casino Black Hawk in Colorado and the Saratoga Casino Hotel in Saratoga Springs, New York.