Churchill Downs completes acquisition of Chasers Poker Room in NH; set to build non-profit gaming facility in Salem

Gaming company and horse racing giant Churchill Downs Incorporated (CDI) announced Monday that the company has completed its previously-announced purchase of Chasers Poker Room in Salem, New Hampshire. The purchase of Chasers follows the approval of the transaction by the New Hampshire Lottery Commission.

The company described Chasers as "the leading New Hampshire charitable gaming operator. Located approximately 30 minutes from downtown Boston, the operator offers poker and a variety of table games. CDI plans to construct an expanded charitable gaming facility in Salem, with up to 800 gaming positions including historical racing machines (HRMs) and table games.

In a recent press release, CDI stated that it expects the total investment in Salem, inclusive of the purchase price, to be approximately $150 million.

Bill Carstanjen, Chief Executive Officer of CDI, said: "We are excited to build upon the success of Chasers with CDI’s proven excellence in historical horse racing operations and a state-of-the-art new facility. It is a privilege to have the opportunity to meaningfully support nonprofits in New Hampshire as the leading gaming operator in charitable contributions."

New Hampshire will be the fourth state in which CDI will operate historical horse racing. CDI currently operates HRMs in Kentucky and in Louisiana, and will also operate HRMs in Virginia upon closing of the pending acquisition of Peninsula Pacific Entertainment (P2E).

Late last month, CDI said it is one step closer to buying Hard Rock Hotel & Casino Sioux City after being greenlighted by the Iowa Racing and Gaming Commission. The unanimous approval marks a major milestone in the company's $2.75 billion bid to buy P2E, which owns the Hard Rock Casino and other racing and gambling properties in Virginia and New York. The deal was first announced by Churchill Downs in February this year, when CDI said it was exiting the online casino and sports betting businesses. 

Also in August, CDI announced an agreement to sell 49% of United Tote, a wholly-owned subsidiary of CDI, to NYRA Content Management Solutions, a subsidiary of the New York Racing Association (NYRA).