Churchill Downs signs agreements to acquire majority of Casino Salem in New Hampshire
The transaction is anticipated to close during the third quarter of 2025.
US.- Churchill Downs Incorporated (CDI) has announced that it has signed definitive agreements to acquire a majority of the outstanding equity interests of Casino Salem with the right to develop a charitable gaming, entertainment and dining destination with historical horse racing machines (HRMs). The transaction is anticipated to close during the third quarter of 2025.
The initial phase of Casino Salem, located at The Mall at Rockingham Park, opened on July 9 with approximately 100 HRMs and 13 live table games. Over the coming months, CDI will finalise plans and commence construction of the future phases of the project, including a rebranding of the venue, an expansion of the gaming floor and several food and beverage concepts.
The company will finance the Salem transaction using its existing credit facility. Closing of the transaction is subject to usual and customary closing conditions, including receipt of approval by the New Hampshire Lottery Commission. Local developers Joe Faro and Sal Lupoli will maintain stakes in the venue.
Bill Carstanjen, chief executive officer of CDI, said: “New Hampshire is an exciting opportunity, and this transaction – and our new partnership with Joe Faro and Sal Lupoli – allows us to develop a regional destination to draw patrons to Salem from across the growing New England market. We look forward to sharing more about our plans to build an expanded, state-of-the-art gaming and entertainment facility in Salem and to support charitable organizations throughout New Hampshire.”
Joe Faro and Sal Lupoli, co-owners of Casino Salem, added: “We are thrilled to move forward in partnership with Churchill Downs, one of the country’s preeminent gaming and entertainment operators. With our vision for Salem, we remain committed to driving economic stimulus to our local economy, creating new jobs, and increasing tourism while delivering a world-class destination that will create lasting benefits for the community for decades.”
Separately from Casino Salem, CDI will continue to operate its Chasers Poker Room in Salem.
