• Churchill Downs Incorporated (CDI) announced that the purchase of the Chasers Poker Room in Salem, New Hampshire, had been finalized. 
• The New Hampshire Lottery Commission has authorized the acquisition, allowing the operator to provide its historical horse racing business in four states. 
• A news release issued by the operator detailed the transaction and expounded on Churchill Downs’ intentions.

Salem Welcomes Historic Horse Racing

Churchill Downs reported that the new project’s launch, inclusive of the purchase price, will cost the operator approximately $150 million. 

Such a big investment suggests optimism for Salem. The Chasers Poker Room, located in the heart of Boston, is one of the most prominent charitable gambling businesses in the state, making it an intriguing acquisition. 

The establishment provides poker and several table games. Bill Carstanjen, the chief executive officer of CDI, expressed his enthusiasm for the new endeavor, noting that the firm would honor the history of Chasers.

The gambling entertainment corporation located in Kentucky intends to grow its new presence in Salem by investing in an expanded charitable gaming location in the city. 

The new facility will feature up to 800 gaming seats, with an emphasis on CDI’s historical racing machines (HRMs).

HRMs are a type of slot machine where players can wager on the outcome of a horse race that took place in the past. A user may wager on the race’s winner, the top three finishers in exact order, or any of the top two finishers. 

All identifying information is taken from a library of over 60,000 events from which races are picked.

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CDI Plans Substantial Additional Investments

With its expansion into New Hampshire, Churchill Downs will conduct its HRM operations in four states. The company has a foothold in Kentucky and Louisiana, with expansion in Virginia already beginning as a result of the impending acquisition of Peninsula Pacific Entertainment.

CDI’s expansion plans were aided by a recent agreement with the New York Racing Association (NYRA). The operator sold 49% of United Tote’s shares and will develop a close cooperation with NYRA by increasing horse racing across betting platforms. 

Additionally, the operator revealed a number of additional large investment plans for Turfway Park, Churchill Downs Racetrack, and Derby City Gaming. CDI expects to invest almost $315 million in these three projects while continuing to prioritize its horse racing-related products.