• Churchill Downs Incorporated, a horse racing and wagering corporation, has signed a transaction that will add another property to its portfolio. 
• The horse racing titan will spend $79 million to acquire Ellis Park Racing & Gaming along with the Henderson, Kentucky Ellis Park thoroughbred racetrack and the option to develop a new HRM site.
• The deal is still subject to regulatory approvals.

Churchill Downs Will Add a New Racetrack to Their Portfolio

Enchantment Holdings will transfer full ownership of the facility to Churchill Downs as part of the transaction. In consequence, the latter company will acquire a complete racetrack with an adjacent gambling facility and 300 classic racing machines. This will enable Churchill Downs substantially extend its presence in the Commonwealth of Kentucky.

Churchill Downs will also purchase Ellis Park’s right to build a track expansion facility near the Town Square Mall in Owensboro. This means that Churchill Downs may open a new casino featuring up to 600 classic racing machines. Also proposed for the property are food options and a simulcast betting area.

Churchill Downs and Enchantment Holdings have not disclosed many details regarding their deal as of the time of writing. However, it is known that the Kentucky Horse Racing Commission, the state’s horse racing regulator, must still approve the aforementioned deal.

Bill Carstanjen, the chief executive officer of Churchill Downs Incorporated, stated that the corporation is committed to Kentucky’s thoroughbred horse racing industry and hopes to build a summer meet that attracts more outstanding trainers from throughout the United States.

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The Deal Was Praised by Kentucky’s Governor

Governor of Kentucky Andy Beshear remarked that Churchill Downs’ news is exciting, given the company’s competence in horse racing. He is confident that the horse racing titan can revitalize Ellis Park and transform it into an unrivaled horse racing and wagering destination. 

Churchill Downs was recognized by the governor as a fantastic company and an integral element of Team Kentucky.

Churchill Downs has seen a very active September thus far. The company announced at the start of the month that it has completed the acquisition of the Chasers Poker Room in New Hampshire. 

This allowed the organization to grow its HRM presence into a fourth state. A few days later, Churchill Downs signed a landmark arrangement with FanDuel, one of the most prominent US gaming companies. The arrangement stipulated that the previous company would provide its new partnership with premium horse racing programming.