Casino Salem majority acquisition completed by Churchill Downs
Churchill Downs funded the acquisition through its existing credit facility, as the transaction was subject to usual and customary closing conditions.
Key Points
- Casino Salem’s initial phase debuted on July 9, with CDI continuing to finalize plans and commence construction on future phases of the project
- The operator’s majority acquisition of Casino Salem was also granted receipt of approval from the New Hampshire Lottery Commission
Churchill Downs has officially completed the acquisition of the majority outstanding interests in a Salem, New Hampshire joint venture (Casino Salem), which unveiled its initial phase on July 9 as the operator finalizes plans and begins construction on future phases of the project.
The operator originally announced plans to complete the acquisition of Casino Salem on July 14, as the transaction was still subject to customary closing conditions.
“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,” Churchill Downs CEO Bill Carstanjen said at the time of announcement.
“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.”
Good to know: Churchill Downs released the results behind its financial performance throughout Q2 2025 on July 23, having generated new record-highs in both net revenue and adjusted EBITDA
Churchill Downs’ acquisition of Casino Salem includes the right to develop a charitable gaming, entertainment and dining venue, featuring a significant rebranding, expansion of the gaming floor and several food and beverage concepts.
The operator funded the acquisition through its existing credit facility, having also been granted receipt of approval from the New Hampshire Lottery Commission.
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