Churchill Downs completes Presque Isle Downs acquisition

The company finished the Presque Isle Downs acquisition on Friday. Credits: eeaustin.com

The company completed the US$178.9 million purchase of Presque Isle Downs & Casino.

US.- Churchill Downs announced on Friday that it completed the purchase of Presque Isle Downs & Casino, located in Summit Township. The Pennsylvania Gaming Control Board (PGCB) unanimously approved the US$178.9 million acquisition on Wednesday.

The racetrack and casino had been held by Eldorado Resorts since 2014, after a merge between the company and MTR Gaming. The change of control was agreed in 2018 for US$178.9 million. The facility features 1,600 slots, 32 table games and a poker room, as well as live thoroughbred racing.

“Presque Isle will give us a foothold in Pennsylvania and the opportunity to participate in the sports betting and online gaming market throughout the state,” Churchill Downs Chief Executive Bill Carstanjen said. “We are excited about welcoming Presque Isle and its employees to the Churchill family.”

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