In 2022, Peninsula Pacific sold the bulk of its assets, including the Hard Rock, to Churchill Downs, Inc. Peninsula Pacific bought out Warner's stake in the property in 2020. The opening came after some controversy from the now-defunct Argosy Casino Sioux City, who had its license revoked by the Iowa Racing & Gaming Commission in 2014. The casino is land-based, as Iowa no longer requires casinos to be built on riverboats.

The Hard Rock opened Augin downtown Sioux City.

In April 2013, the Iowa Racing and Gaming Commission selected the Hard Rock over the other proposals. Peninsula Pacific Entertainment joined as an investor in the project in January 2013. The Hard Rock was one of four applications submitted for the one available casino license in Woodbury County, competing against a bid from Ho-Chunk Inc. The plan was later modified to include a boutique hotel component. The $100-million project would be developed by Warner Gaming, the operator of the Hard Rock Hotel & Casino Las Vegas. The proposal for Hard Rock Casino Sioux City was announced in October 2012.

It is owned and operated by Churchill Downs, Inc. Hard Rock Hotel & Casino Sioux City is a casino hotel in Sioux City, Iowa.