Churchill-Arlington Announcement Reportedly Today
Updated: Friday, June 23, 2000 6:42 PM
Posted: Friday, June 23, 2000 8:31 AM
An announcement is reportedly due today to confirm the acquisition of Arlington International by Churchill Downs, a move that would make Arlington chairman Richard Duchossois Churchill's largest shareholder, according to the Chicago Tribune.
The newspaper reported the Churchill-Arlington deal would give Duchossois 25% interest in Churchill, with additional stock if, and when, Arlington's Rosemont riverboat casino opens. Included in the merger are Arlington's three off-track betting parlors and one intertrack facility.
During Thursday's annual Churchill shareholder meeting, one shareholder asked Churchill Downs chief executive officer Tom Meeker for an update on the negotiations to purchase Arlington International. Meeker would only say that negotiations are on-going. The Churchill Downs' board of directors met immediately following the shareholders meeting.
(More,
Chicago Tribune)
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