Churchill Downs Incorporated Announces Definitive Agreements to Acquire a Majority of Casino Salem Project in New Hampshire

Core Viewpoint - Churchill Downs Incorporated (CDI) has signed definitive agreements to acquire a majority of the equity interests in Casino Salem, a joint venture in New Hampshire, which will feature historical horse racing machines and a charitable gaming, entertainment, and dining destination [1][5]. Company Overview - CDI has been creating entertainment experiences for over 150 years, with its most iconic asset being the Kentucky Derby. The company is headquartered in Louisville, Kentucky, and has expanded through acquisitions and operations in live and historical racing, online wagering, and regional casino gaming properties [6]. Casino Salem Development - Casino Salem is located at The Mall at Rockingham Park, approximately 30 minutes from downtown Boston. Local developers Joe Faro and Sal Lupoli will retain ownership, ensuring their experience contributes to the venue's success [2]. - The initial phase of Casino Salem opened on July 9, featuring around 100 historical racing machines and 13 live table games. Future phases will include venue rebranding, gaming floor expansion, and new food and beverage concepts [3]. - CDI aims to create a regional destination in Salem to attract patrons from the growing New England market, with plans to support charitable organizations throughout New Hampshire [4]. Financial Aspects - The Salem Transaction will be financed through CDI's existing credit facility, with the closing subject to customary conditions, including approval from the New Hampshire Lottery Commission. The transaction is expected to close in the third quarter of 2025 [5].