Tuesday, March 11, 2014
The Maine Gambling Control Board signs off on the $160 million deal, the company says.
The Associated Press
LOUISVILLE, Ky. — Churchill Downs Inc. says it has completed the purchase of the Oxford Casino in western Maine in a deal valued at about $160 million.
The Oxford Casino has been sold to Churchill Downs.
2012 Associated Press File Photo
The Louisville-based company said Wednesday its acquisition of the casino in Oxford won approval from the Maine Gambling Control Board.
Oxford Casino opened in 2012. The property includes a 25,000-square-foot gaming floor with about 800 slot machines and 22 table games. It also includes a restaurant.
The state's gambling board ruled in May that the Oxford Casino won't be asked to apply for a new operator's license once the sale was approved.
The acquisition is Churchill's latest venture into the casino business.
It owns racetrack and casino operations in Miami Gardens, Fla., and New Orleans; a casino resort in Greenville, Miss.; and a casino resort hotel in Vicksburg, Miss.
Churchill also owns and operates its namesake racetrack that's home to the Kentucky Derby, along with racetrack operations in Arlington Heights, Ill.