Churchill Downs completes sale of Arlington Racecourse
CDI has sold the 326-acre property in Arlington Heights, Illinois, to the Chicago Bears.
US.- Churchill Downs Incorporated (CDI) has completed its sale of the 326-acre Arlington Racecourse in Arlington Height, Illinois, to the Chicago Bears. The final purchase price for the sale agreed in September 2021 was $197.2m.
CDI will apply the proceeds toward the purchase of gaming and racing properties it agreed to acquire from Peninsula Pacific Gaming last year. CDI assumed control of P2E’s assets in Virginia, New York and Iowa in a $2.49bn transaction. The deal covers Colonial Downs Racetrack in New Kent, Virginia, and six Rosie’s Gaming Emporium horse racing facilities in Virginia.
CDI CEO Bill Carstanjen said: “This transaction meaningfully expands our geographic footprint to Iowa, New York and Virginia. It introduces a very unique set of assets and attractive organic growth opportunities to our company. We are excited to welcome the teams from each of these well-established properties into CDI.”
