Churchill Downs Incorporated Acquires Ellis Park Racing & Gaming in Kentucky

The horse racing realm just got bigger thanks to Churchill Downs Incorporated! They’ve acquired Ellis Park Racing & Gaming in Henderson, Kentucky for a hefty $79 million. This follows their purchase of Chasers Poker Room in Salem, New Hampshire earlier in the year. CDI, as they’re known in industry circles, is on a hot streak!

Originally owned by Enchantment Holdings, a branch of Laguna Development Corporation, Ellis Park is switching gears. A deal was in the works earlier this month, pending approval from the Kentucky Horse Racing Commission, which has now been granted.

CDI is eager to revamp Ellis Park’s racing infrastructure and break ground on a new track addition and entertainment complex in Owensboro dubbed (wait for it) … Owensboro Racing & Gaming! Situated at the Towne Square Mall, it will feature 600 historical racing terminals and a dedicated simulcast wagering section.

Churchill Downs CEO Bill Carstanjen is enthusiastic, stating, “Our staff is already diligently working in both Henderson and Owensboro… We look forward to revealing more soon about our vision for Ellis Park and how we intend to elevate purses via Owensboro’s rich horse racing heritage.” Kentucky horse racing is galloping towards an exciting future!

Churchill Downs Incorporated commenced 2022 with a bang, investing a substantial $2.5 billion to secure a majority stake in Peninsula Pacific Entertainment. This calculated maneuver laid the groundwork for a period of expansion and development.

Although it’s premature to label these acquisitions an unqualified success, CDI’s latest quarterly financial statement appears quite promising. They’ve experienced robust year-on-year gains, and their revenue for the second quarter? To put it simply, they knocked it out of the ballpark, achieving an unprecedented peak.