Churchill Downs acquires minority stake in Saratoga Harness Racing's NY assets
5 Oct 2015
Given that regulatory approvals for the transfer of SHRI’s controlling interest in Saratoga Casino Black Hawk in Black Hawk, Colo. are expected to require several more months, CDI and SHRI have amended their purchase agreement to split the closing of their transaction for SHRI’s New York and Colorado properties. Upon receipt of applicable approvals from the Colorado Division of Gaming, SHRI will contribute its controlling interest in Saratoga Casino Black Hawk in Black Hawk, Colo. to SCH. At such time, CDI will pay the remainder of the purchase price to SHRI of approximately $6.4 million for CDI’s pro-rata ownership of Colorado operations, subject to adjustments for working capital.