Churchill Downs Inc. has agreed to purchase an additional interest in Kentucky Downs, the track in Franklin, Ky., that has seen a rise in business since the introduction of Instant Racing in late 2011.
Amid the uncertainty of reception in the marketplace and a lingering legal challenge, Kentucky Downs officially christened expanded pari-mutuel wagering via Instant Racing machines during an evening reception Aug. 30.
Closing is now finalized on the sale of the Kentucky Downs racetrack in Franklin, Ky., and the new majority owners have hit the ground running in preparation for hosting the fall race meeting, Sept. 15-25.
A partnership led by former Magna Entertainment Corp. executive Corey Johnsen and Texas investment banker Ray Reid have purchased the majority interest in Kentucky Downs near Franklin, Ky.
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