Churchill Downs completes acquisition of Ellis Park in Kentucky

(PRESS RELEASE) -- Churchill Downs Incorporated announced today that the Company has completed its previously-announced purchase of Ellis Park Racing & Gaming in Henderson, Kentucky, for cash consideration of $79 million, subject to certain working capital and other purchase price adjustments. In acquiring Ellis Park, CDI also assumes the opportunity to construct a track extension facility with historical racing machines in Owensboro, Kentucky.

“Our team is already hard at work in both Henderson and Owensboro,” said 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.”

CDI’s purchase of Ellis Park follows approval of the transaction by the Kentucky Horse Racing Commission. The transaction was funded with cash on hand and through the Company’s existing credit facility.