Churchill Downs Inc. announced it has entered into a definitive purchase agreement to acquire Oxford Casino in Oxford, Maine, for total consideration of approximately $160 million to be paid in cash.
Bolstered by strong numbers during Kentucky Derby week, strength in its online wagering business, and acquisition of a new casino, Churchill Downs Inc. reported record $732.4 million in net revenues in 2012.
Churchill Downs Incorporated announced March 21 that William C. Carstanjen, currently the company's chief operating officer, has been promoted to company president, effective immediately.
Churchill Downs Inc. released its second-quarter results after the close of the stock market July 29, with a slight increase in earnings due to its advance deposit wagering system and slot-machine gaming.
Despite growth in its online pari-mutuel wagering and Louisiana slots operations, the top executive of Churchill Downs Inc. said May 7 the company is not ignoring its racing properties, but needs legislative help to keep them viable entities.
Churchill Downs has seen some weakness in ticket sales for its annual Derby-Oaks weekend extravaganza, but feels there is enough interest in the events to produce another strong showing for the racetrack company.
Profits from continuing operations at Churchill Downs Inc. grew 71% in 2008, the company reported March 4, despite handle drops at all of its racetracks.
Churchill Downs Inc. said Nov. 6 it is in a position to grow in various gaming areas, but is mum about what possible ventures might be considered in the future.
Churchill Downs Inc. more than doubled its net earnings against decreasing revenues from continuing operations in the third quarter, the company announced Nov. 5.
Churchill Downs Incorporated and Magna Entertainment Corp., the two largest track-operating companies in the U.S., announced Friday that they have entered into an agreement to cooperate in the bidding process for the New York racetrack franchise, which is currently held by the New York Racing Association and will expire Dec. 31, 2007.
The board of directors of Churchill Downs Inc. announced Wednesday that Robert L. Evans, a horse owner and breeder who has a background in technology, manufacturing and private equity capital, will succeed Tom Meeker as company president and chief executive officer.
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