Kentucky: Churchill Downs Completes $79M Acquisition of Ellis Park

Kentucky: Churchill Downs Completes $79M Acquisition of Ellis Park

  • Churchill Downs Incorporated, a leader in the racing, online betting, and gaming entertainment industries, announces the completion of a significant transaction by officially acquiring Ellis Park Racing and Gaming in Henderson, Kentucky.
  • The conclusion of the transaction follows the recent approval of the acquisition by the Kentucky Horse Racing Commission.
  • Bill Carstanjen, the CEO of CDI, expresses his enthusiasm.

 

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Churchill Downs

CDI Completes Acquisition of Ellis Park

The business announced on Monday that it had completed the acquisition of Ellis Park Racing and Gaming in Henderson, Kentucky for $79 million in cash. 

The new acquisition will provide the corporation with the opportunity to construct a track extension facility in Owensboro that will feature historical racing machines (HRMs).

This month, the racing giant initially announced its intention to acquire Ellis Park. However, the acquisition was contingent upon the permission of the Kentucky Horse Racing Commission, the independent state organization responsible for regulating horse racing and pari-mutuel wagering. Recently, the Commission granted approval, paving the way for CDI to complete the acquisition.

Bill Carstanjen, the chief executive officer of CDI, expressed his enthusiasm and affirmed that the company’s Owensboro and Henderson locations are bustling with activity. 

He promised that the corporation would soon reveal additional information about the proposed racing infrastructure at Ellis Park. Carstanjen emphasized, in conclusion, that the antique racing machines at Owensboro provide a tremendous possibility for the company.

The acquisition is anticipated to benefit CDI

Ellis Park has historical significance for Kentucky. The site that offers live Thoroughbred horse racing in the summer and simulcast wagering 365 days a year is located near Evansville, Indiana, north of the Ohio River. The venue celebrated 100 years of racing earlier this year. 

In addition, to live Thoroughbred racing, there are around 300 HRMs at the site. Without a doubt, the acquisition of Ellis Park by the leading horse racing and betting firm CDI will aid in the preservation of the location’s historic history. In addition, the facility is anticipated to generate opportunities for fan involvement, which will ultimately contribute to the company’s growth.

CDI established a strategic partnership with FanDuel, the largest sports betting operator in the United States, earlier this month. Under the terms of the current agreement, CDI agreed to offer FanDuel its premier horse racing products. Even though it was announced in September, the new contract will begin in January of next year.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.