The Kentucky horse racing scene is getting a shake-up thanks to Churchill Downs Inc. They’ve acquired Ellis Park Racing & Gaming in Henderson for a hefty sum of $79 million. This purchase follows an agreement reached earlier this month and has received the green light from the Kentucky Horse Racing Commission.
Churchill Downs isn’t stopping at just owning another track. They have ambitious goals to enhance Ellis Park’s existing infrastructure and construct an entirely new racing and entertainment complex in Owensboro. Imagine 600 historical racing machines and a state-of-the-art simulcasting facility.
Bill Carstanjen, CEO of Churchill Downs, expressed enthusiasm for the project, stating that teams are already diligently working in both Henderson and Owensboro. He added that more specific information regarding their investments and how the Owensboro expansion will translate into increased prize money will be revealed shortly.
This acquisition is the most recent in a series for Churchill Downs, who also purchased the Chasers Poker Room in Salem, New Hampshire in September. It’s evident that they are committed to broadening their footprint within the horse racing industry.
Churchill Downs Incorporated commenced 2022 with a significant move, purchasing a substantial portion of Peninsula Pacific Entertainment (P2E) for a hefty sum of $2.5 billion. Although it remains premature to determine the ultimate success of this and other strategic decisions implemented this year, their most recent quarterly statement reveals encouraging signs. Their financial standing appears more robust in comparison to the same period last year, and they even achieved unprecedented revenue figures during the second quarter.