The horse racing industry in Kentucky is seeing a major development as Churchill Downs Inc. acquires Ellis Park Racing & Gaming in Henderson for a sum of $79 million. This strategic purchase follows their recent acquisition of Chasers Poker Room in Salem, New Hampshire, highlighting their expanding presence in the gaming sector.
This acquisition allows Churchill Downs to make significant investments in Ellis Park and establish a brand-new racing and entertainment venue named Owensboro Racing & Gaming in Owensboro, Kentucky. Situated at the Towne Square Mall, this new facility will feature 600 historical racing machines and a dedicated space for wagering on races.
Bill Carstanjen, CEO of Churchill Downs, expressed enthusiasm about the future, stating that they will soon unveil further details regarding their plans for both Ellis Park and Owensboro Racing & Gaming.
The famed Churchill Downs experienced a bustling 2022. A significant investment of approximately $25 billion was made to acquire a majority stake in Peninsula Pacific Entertainment (P2E). This substantial transaction positioned them favorably for future achievements.
While it remains early in the process, the acquisitions (accompanied by some divestitures) appear to be yielding positive outcomes. Recent financial disclosures reveal encouraging progress, with the second quarter of the current year establishing a new benchmark for revenue generation.
