The renowned Churchill Downs Incorporated is broadening its horizons in the Northeastern United States. The corporation recently concluded its purchase of the Chasers Poker Room situated in Salem, New Hampshire, after receiving approval from the New Hampshire Lottery Commission. This strategic maneuver enables Churchill Downs to enter the New England gaming market, as Chasers is conveniently positioned a short distance from Boston.
However, anticipate changes at Chasers, as Churchill Downs has ambitious plans to transform it into a significantly larger charitable gaming establishment. Their objective is to create a gambling and entertainment destination with up to 800 gaming positions, introducing exciting additions like historical racing machines alongside the existing table games. This substantial project is projected to cost approximately $150 million, demonstrating Churchill Downs’ dedication to the New Hampshire market.
This expansion aligns with Churchill Downs’ broader objective of becoming a dominant force in the realm of historical horse racing. This form of wagering, already offered by the company in Kentucky and Louisiana, permits players to place bets on the results of past horse races. With the acquisition of Peninsula Pacific Entertainment also underway, Churchill Downs is well-positioned to introduce historical horse racing to Virginia as well. It is evident that Churchill Downs envisions a promising future in this expanding sector of the gaming industry, and they are making significant investments in its prosperity.
The iconic Churchill Downs, home of the Kentucky Derby, is experiencing unprecedented success. Their business portfolio has expanded beyond horse racing, with online wagering and gaming emerging as significant revenue generators. Recent financial reports reveal their most profitable quarter to date, amassing a staggering $582.5 million. This represents a substantial increase of $67.4 million compared to the previous year. The Kentucky Derby itself proved to be a lucrative event, exceeding last year’s revenue by an impressive $2.3 billion. It seems the public’s eagerness to celebrate after the subdued pandemic period translated into a surge in Derby attendance and spending.
