CDI will purchase Ellis Park Racing & Gaming from Enchantment Holdings, an affiliate of Laguna Development Corporation, and take full ownership of the venue.
Ellis Park, located in Henderson, Kentucky, has a rich history of hosting horse racing for the past 100 years.
The venue also features a gaming facility with approximately 300 historical racing machines (HRMs).
As part of the acquisition agreement, CDI will also assume Ellis Park’s opportunity to construct a track extension facility at Owensboro’s Towne Square Mall.
The new Owensboro Racing & Gaming site will include an entertainment venue with 600 HRMs, a simulcast wagering center, as well as multiple food and beverage offerings.
CDI expects to invest approximately $75.0m in addition to the purchase price over the next year in Henderson and Daviess counties.
The deal is subject to certain working capital and purchase price adjustments, as well as approval from the Kentucky Horse Racing Commission.
CDI’s CEO, Bill Carstanjen, expressed commitment to building a summer meet at Ellis Park that attracts top horse racing talent from across the country to Kentucky each July and August.
Kentucky Governor Andy Beshear sees this as an exciting announcement for horse racing, stating that CDI’s investment will reinvigorate Ellis Park and create jobs throughout the region and state.
Churchill Downs is acknowledged as a great corporate citizen and an important contributor to Team Kentucky.
