Churchill Downs Inc. has entered into a definitive agreement to acquire New Hampshire’s Chasers Poker Room.
Under the deal, Chasers Poker Room will be absorbed under the umbrella of Churchill Downs, expanding the company’s footprint to a fourth state.
Chasers Poker Room has led all New Hampshire charitable gaming operators in both revenues and local charitable contributions. Under New Hampshire laws, a portion of the revenues from a charitable gaming institution will be allocated to non-profit organizations that are licensed in the state.
According to Churchill Downs CEO Bill Carstanje in a statement
“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.”
Deal Expected to Close in the 2nd Quarter of 2022
The transaction is expected to close in the second quarter of 2022, subject to the customary closing conditions which include regulatory and government approvals, including from the New Hampshire Lottery Commission
After the closing, Churchill Downs is planning to develop an expanded, state of the art gaming facility in Salem in the coming months. This includes the installation of historical horseracing machines in the venue.
Launching Historical Horseracing Operations
The charitable gaming venue located in Salem, New Hampshire opened in 2017 and offers poker as well as other table games. But with the state authorizing existing gambling operators to offer historical horse racing last year, CDI intends to use Chasers to launch its signature historical horseracing operations in the Granite State.
Churchill Downs has built on the footprints of its Kentucky empire by expanding to Virginia via its acquisition of Peninsula Pacific Entertainment and its Rosie’s Gaming Emporium HRM facilities, which is still pending. CDI is also has an existing 14 off track betting facilities in Louisian which it is also planning to expand soon.