Churchill Downs to acquire 90% of Casino Salem for $180M cash

Churchill Downs Inc

Acquires 90% equity in Salem, NH casino joint venture for $180M cash; will develop HHR gaming and entertainment venue.
Initial phase opened July 9 with approx. 100 historical horse racing machines and 13 live table games.
Partnership with local developers Joe Faro and Sal Lupoli, who retain 10% stake and provide local expertise.
Transaction expected to close Q3 2025, subject to New Hampshire Lottery Commission approval.
Financed via existing credit facility; venue located 30 min from downtown Boston at The Mall at Rockingham Park.

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