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:
Churchill Downs Completes Acquisition of Ellis ParkThe 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.
