Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced Monday that the Company has completed its previously-announced purchase of Ellis Park Racing & Gaming (“Ellis Park”) in Henderson, Ky., for cash consideration of $79 million, subject to certain working capital and other purchase price adjustments.
In acquiring Ellis Park, CDI also assumes the opportunity to construct a track extension facility with historical racing machines in Owensboro, Ky.
“Our team is already hard at work in both Henderson and Owensboro,” said Bill Carstanjen, Chief Executive Officer of CDI. “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.”
CDI's purchase of Ellis Park follows approval of the transaction by the Kentucky Horse Racing Commission. The transaction was funded with cash on hand and through the Company's existing credit facility.
About Ellis Park
Ellis Park, located north of the Ohio River and just south of Evansville, Indiana, celebrated 100 years of racing this year. In addition to being recognized as the historic home of summer Thoroughbred racing in Kentucky, Ellis Park also features a gaming facility venue with approximately 300 historical racing machines.
About Churchill Downs Incorporated
Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We own and operate five gaming entertainment venues with approximately 4,200 historical racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online wagering platforms for horse racing in the U.S. and we have eight retail sportsbooks. We are also a leader in brick-and-mortar casino gaming in eight states with approximately 11,800 slot machines and video lottery terminals and 250 table games. www.churchilldownsincorporated.com
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