Churchill Downs acquires majority interest in Casino Salem project

The property will continue to be owned by New Hampshire developers Joe Faro and Sal Lupoli, as CDI will commence construction on future phases of the project within the coming months.

Churchill Downs Incorporated (CDI) has officially acquired a majority share interest of the Casino Salem project in New Hampshire, which launched its opening phase on July 9 featuring approximately 100 historical horseracing machines (HRMs) and 13 live table games. 

CDI reportedly plans to finance the transaction using its existing credit facility, as the acquisition is still subject to customary closing conditions, including approval from the New Hampshire Lottery Commission, and is expected to close in the third quarter of 2025. 

“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,” CDI CEO Bill Carstanjen said. 

“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.”

The property will continue to be owned by local developers Joe Faro and Sal Lupoli, as CDI will finalize plans and commence construction on future phases of the project within the coming months, including an official rebranding, gaming floor expansion and dining options. 

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“We are thrilled to move forward in partnership with Churchill Downs, one of the country’s preeminent gaming and entertainment operators,” Faro and Lupoli said. 

“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.”

In addition to the Casino Salem project, CDI will also continue to operate its Chasers Poker Room in Salem, New Hampshire.

Kirk Geller

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