Churchill Downs Incorporated (CDI) has finished its formerly introduced acquisition of Florida-primarily based totally historic horse racing enterprise Exacta Systems.
Following an preliminary settlement ultimate December, CDI has paid a complete attention of $250 million to gather the enterprise, situation to sure running capital and different buy rate adjustments.
Through its possession of Colonial Downs Racetrack and Rosie’s Gaming Emporium historic racing machine (HRM) facilities, the deal will allow CDI to realise full-size and instantaneously synergies associated with the company’s Virginia operations.
CDI may also realise extra operational upgrades over the years thru the diversification of video games to be had at its HRM facilities.
Exacta will function inside the company’s TwinSpires section and could keep to carrier its developing portfolio of third-celebration HHR operators in Kentucky, Wyoming and New Hampshire.
The transaction turned into funded with coins handy and with the company’s present credit score facility.
Shares in Churchill Downs Incorporated (NASDAQ:CHDN) closed 0.15 in keeping with cent better at $123.ninety seven in keeping with percentage in New York Tuesday.