Churchill Downs Incorporated (CDI) has agreed a deal to acquire the Ellis Park racetrack and gaming facility in Kentucky for a total consideration of $79.0m (£69.4m/€79.3m).
Under the arrangement, CDI will purchase Ellis Park Racing & Gaming from Enchantment Holdings, an affiliate of Laguna Development Corporation, and take full ownership of the venue.
Located in Henderson, Kentucky, Ellis Park has hosted horse racing for the past 100 years, while the site also features a gaming facility venue with approximately 300 historical racing machines (HRMs).
The acquisition agreement also includes CDI assuming Ellis Park’s opportunity to construct a track extension facility at Owensboro’s Towne Square Mall. The new Owensboro Racing & Gaming site will also house an entertainment venue with 600 HRMs, a simulcast wagering centre and multiple food and beverage offerings.
Over the next year, CDI said it expects the total investment in the Henderson and Daviess counties to be approximately $75.0..