Churchill Downs completes deal for Kentucky’s Turfway Park
Churchill Downs Incorporated (CDI) has finalised its acquisition of Turfway Park in Kentucky from Jack Ohio LLC, an affiliate of Jack Entertainment LLC and Hard Rock International.
The agreement was approved by the Kentucky Horse Racing Commission (KHRC), which allowed it to be finalised.
Under the deal, agreed last week, CDI will pay $46m (£37.6m/€41.7m) in cash to take ownership of the racing facility, subject to certain working capital and other purchase price adjustments.
Having secured KHRC approval, CDI withdrew the race dates application related to its previously announced New Latonia Racing & Gaming project in northern Kentucky and confirmed it will no longer pursue this project.