The previously-announced purchase cost Churchill Downs somewhere in the ballpark of $79 million. With this new acquisition, CDI says they’re looking into the the brand’s move into Owensboro with an off-track betting site.
“Our team is already hard at work in both Henderson and Owensboro,” says Bill Carstanjen, Chief Executive Officer of CDI. “In the coming days, we look forward to sharing more about our plans to invest in the racing infrastructure at Ellis Park and to drive significant purse improvement through the Owensboro historical racing opportunity.”
Before today’s announcement, the Kentucky Horse Racing Commission approved the purchase for Churchill Downs. Officials say the transaction was funded with cash on hand and through the company’s existing credit facility.