Churchill Downs Expands Northeast Presence with Chasers Poker Room Acquisition and Charitable Gaming Center Plans

The renowned Churchill Downs Incorporated is broadening its horizons in the Northeast. They recently sealed the deal on acquiring Chasers Poker Room in Salem, New Hampshire, following approval from the New Hampshire Lottery Commission.

Chasers, a beloved destination for poker and table games, enjoys a prime location near the Boston metropolitan area. However, Churchill Downs has grander visions. They intend to convert it into a sprawling charitable gaming center, featuring up to 800 gaming terminals, encompassing the much-discussed historical racing machines.

This ambitious undertaking, including the purchase price, is projected to cost in the neighborhood of $150 million.

Churchill Downs CEO, Bill Carstanjen, expressed enthusiasm for the venture. He views it as an opportunity to capitalize on Chasers’ achievements while utilizing their proficiency in historical horse racing. He also emphasized their dedication to aiding New Hampshire charities through this endeavor.

This expansion signifies Churchill Downs’ foray into a fourth state for historical horse racing, supplementing their current operations in Kentucky and Louisiana. Furthermore, with the purchase of Peninsula Pacific Entertainment, they are poised to introduce historical horse racing to Virginia.

The iconic Kentucky Derby’s parent company, Churchill Downs Incorporated, is experiencing a surge in profits. They recently unveiled record-breaking second-quarter earnings of $582.5 million, a substantial $67.4 million jump from the corresponding timeframe last year. This financial triumph can largely be attributed to the resurgence of spectators: this year’s Kentucky Derby was a resounding success, generating an impressive $231.3 million more than the 2021 event, which was significantly impacted by the pandemic.