Churchill Downs sells Lady Luck Nemacolin assets to Woodlands Fayette, LLC
This comes after Churchill Downs did not renew the management agreement with the casino.
Churchill Downs Incorporated has announced that the company has not renewed the management agreement for Lady Luck Casino Nemacolin in Farmington, Pennsylvania.
As a result of this, Churchill Downs has completed the sale of its assets at Lady Luck Nemacolin to Woodlands Fayette, LLC for an immaterial sum.
Woodlands Fayette, LLC manages Nemacolin Resort and will now manage Lady Luck Nemacolin, coming into effect immediately.
Despite the change of ownership, all the employees of Lady Luck Nemacolin have been offered positions by Woodlands Fayette, LLC, in a bid to make the transition as seamless as possible.
Churchill Downs has been operating for nearly 150 years, beginning with the company’s most well-known asset, the Kentucky Derby.
Headquartered in Louisville, Kentucky, Churchill Downs has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties.
This month, Churchill Downs Racetrack kicked off a five-day celebration at Royal Ascot in honor of the 150th annual run of the Kentucky Derby.
The Kentucky Derby began in 1875 and is known nationwide as the longest continually run US sporting event.
Churchill Downs Racetrack VP of Marketing and Partnerships Casey Ramage said, “We are thrilled to highlight the Kentucky Derby internationally at Royal Ascot.”
Churchill Downs also announced a plan to build a new historical racing machine venue on the east side of Daviess County, Kentucky. Funding from the planned Daviess County location will support Ellis Park Racing & Gaming race meets.
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