Cincinnati – Hard Rock International has reached an agreement with Jack Entertainment to purchase a casino in Cincinnati and a horse track in Kentucky.

The $ 780 million contract announced Friday will allow Hard Rock and VICI Properties to control Jack Cincinnati Casino and Turfway Park in Florence, Kentucky.

Hard Rock will oversee operations at both sites.

Dan Gilbert, a businessman and owner of the Cleveland Cavaliers, owns Detroit-based Jack Entertainment.

According to Jack Entertainment, the deal will not affect his casino in Cleveland or that of Jack Thistledown Racino in northeastern Ohio.

The agreement will require the approval of the federal and state regulatory authorities and should be finalized by the end of the year.

Jack Casino in downtown Cincinnati brings in nearly $ 200 million a year in gaming revenue.

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