Churchill Downs acquires Exacta Systems for $250M cash; HHR platform expansion

Churchill Downs Inc

Acquires Exacta Systems for $250M in cash; expected to close in 2023 subject to regulatory approvals.
Funded with cash on hand and existing credit facility; treated as asset purchase for incremental tax benefits.
Provides synergies with Colonial Downs Racetrack and Rosie's Gaming Emporium HRM facilities in Virginia.
Exacta integrates HHR platform with leading manufacturers (AGS, IGT, Light & Wonder, Everi, Konami, Incredible Technologies).

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