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Churchill Downs announces asset swap deal

Published 07/16/2018, 05:25 PM
Updated 07/16/2018, 05:25 PM
© Reuters.  Churchill Downs announces asset swap deal
  • Churchill Downs (NASDAQ:CHDN) announces an exchange of assets with Saratoga Casino Holdings.
  • The company agreed to pick up the remaining 50% ownership of the Casino at Ocean Downs and Ocean Downs Racetrack owned by Saratoga in exchange for its 25% equity interest in SCH (parent company of Saratoga Casino Hotel and Saratoga Casino Black Hawk).
  • Churchill Downs and its affiliates have been granted exclusive rights to operate internet real-money sports betting and real-money iGaming on behalf of Saratoga in New York and Colorado for a period of fifteen years from the date of the agreement if sports betting is legalized.
  • The transaction is expected to close in the second half of this year.
  • Source: Press Release
  • Now read: Churchill Downs Vs. Las Vegas Sands: Paying For A Bentley And Getting A Cadillac?


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