Churchill Downs Incorporated (CDI) has announced the acquisition of Exacta Systems for a total consideration of $250m in cash; this acquisition is subject to purchase price adjustments and other working capital.
This transaction is expected to allow CDI to realize the synergies related to the company’s recent acquisition of Colonial Downs Racetrack and Rosie’s Gaming Emporium HRM facilities in Virginia.
Exacta provides technology to support historical horse racing (HHR) systems, it has also integrated historical racing machine (“HRM”) gaming manufacturers into its HHR platform, including AGS, IGT, Light & Wonder, Everi, Konami and Incredible Technologies.
The company currently supports HHR systems in Virginia, Kentucky, Wyoming and New Hampshire.
CDI CEO Bill Carstanjen commented: "For nearly a decade, Exacta has been a creative force supporting the growth of historical horse racing in the US.
"We look forward to expanding Exacta’s national footprint and further diversifying the game offerings available to players at HRM facilities around the country."
The transaction is expected to close in 2023 and will be recognized as an asset purchase allowing CDI to realize incremental tax benefits.
Earlier this month, Churchill Downs Incorporated appointed Andréa Carter to the Board of Directors. Carter has over twenty years of experience in human resources and is currently serving as Senior Executive Vice President and Chief Human Resources Officer for Global Payments, Inc. in Atlanta.
Carter said: "I have devoted my life professionally to helping others realize their greatness.
"I look forward to applying my experience and my passion toward the continued success of an iconic brand like the Kentucky Derby and the ongoing growth of this great company."
