Churchill Downs Incorporated has announced it has completed the acquisition of Ellis Park Racing & Gaming (“Ellis Park”) in Henderson, Kentucky from Enchantment Holdings, an affiliate of Laguna Development Corporation.
The deal includes a cash consideration of $79 million and is subject to certain working capital and other purchase price adjustments. As part of the acquisition, Churchill Downs now has the opportunity to build a track extension and an entertainment venue. This venue will include 600 historical racing machines and will be located in Towne Square Mall, Owensboro, Kentucky.
Bill Carstanjen, Chief Executive Officer of Churchill Downs Incorporated said:
“Our team is already hard at work in both Henderson and Owensboro. In the coming days, we look forward to sharing more about our plans to invest in the racing infrastructure at Ellis Park and to drive significant purse improvement through the Owensboro historical racing opportunity.”
The acquisition of Ellis Park was subject to regulatory approval by the Kentucky Horse Racing Commission. The commission has since issued its approval and the deal will now go ahead as planned.
So far this year, Churchill Downs Inc. has acquired Chasers Poker Room in Salem, New Hampshire for $150 million and Peninsula Pacific Entertainment’s (P2E) assets for nearly $2.5 billion.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.