M&A - Churchill Downs Inc

Form Type: 8-K

Filing Date: 2025-07-14

Corporate Action: Acquisition

Type: New

Accession Number: 000002021225000092

Filing Summary: On July 14, 2025, Churchill Downs Incorporated announced that it has entered into definitive agreements to acquire 90% of the outstanding equity interests of PPE Casino Resorts NH Holdings, LLC, which operates Casino Salem in Salem, New Hampshire, for a total consideration of $180 million in cash. The acquisition involves purchasing a 51% stake from The Cordish Companies and a 39% stake from F&L Gaming, LLC. After the acquisition, the original owners will retain 10% ownership and will contribute local expertise crucial for the project’s development into a charitable gaming, entertainment, and dining destination featuring historical horse racing machines.