- Churchill Downs Inc CHDN Has agreed to purchase all outstanding equity interests of Exacta Systems LLC for aggregate consideration of $250 million in cash.
- The transaction will allow Churchill Downs to realize synergies related to the acquisition of Colonial Downs Racetrack and Rosie’s Gaming Emporium’s HRM facilities in Virginia.
- Exacta provides historical horse racing (HHR) technical support in Virginia, Kentucky, Wyoming and New Hampshire.
- “We look forward to expanding Exacta’s national presence and further diversifying the game offering available to players at HRM facilities across the country,” said CEO Bill Carstanjen.
- Churchill Downs expects to fund the transaction from cash and through its existing credit facility. It held $1.7 billion in cash and equivalents to 09/30/2022.
- The transaction is expected to close in 2023.
- Price promotion: CHDN shares closed 4.41% lower at $206.32 on Monday.
- Photo via Wikimedia Commons
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