News Land-Based 23 Mar 2022
Churchill Downs to acquire Chasers Poker Room in New Hampshire
By Gambling Insider
Churchill Downs Incorporated (CDI) has entered into an agreement to acquire Chasers Poker Room in Salem, New Hampshire.
Under their agreement, the charitable gaming facility will be brought under Churchill Downs’ umbrella, expanding the company’s footprint.
Chasers opened in 2017 and offers poker, as well as other table games, but CDI seems most interested in using the facility to launch historical horseracing operations in the Granite State.
New Hampshire authorised existing charitable gaming operators to offer historical horseracing in 2021, and Chasers’ location, some 30 minutes away from Boston, would provide a north-eastern hub for CDI’s signature offering.
After closing, CDI plans to develop an expanded facility in Salem to accommodate historical racing machines (HRMs).
Bill Carstanjen, Churchill Downs CEO, commented: “New Hampshire is an exciting opportunity for us, one that allows us to put our historical racing machine expertise to work in the growing New England market.
“We look forward to sharing more about our plans to build an expanded, state-of-the-art gaming facility in Salem in the coming months.”
The transaction is dependent on usual and customary closing conditions, Churchill said, which include obtaining approvals from the New Hampshire Lottery Commission.
If everything goes according to plan, New Hampshire will become the fourth state where Churchill Downs operates historical horseracing, alongside Kentucky, as well as Virginia, where it will after closing the acquisition of Peninsula Pacific Entertainment, and, upon completion of an HRM expansion, Louisiana.
Under New Hampshire law, a portion of revenue from charitable gaming operations is allocated to non-profit organisations licensed in the state.
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