Churchill Downs, the American horse monitor and on line casino operator, is purchasing the Oxford On line casino in Oxford, Maine for all around $ 160 million money.
Though Churchill Downs is ideal acknowledged as the operator of the fabled Kentucky Derby, the business also owns a variety of land-based mostly casinos and other gambling interests.
The Oxford Casino, located about forty minutes away from Portland, has only been open because previous June and accomplished a main expansion in Oct. The casino’s developers explained that their intention was never to run a casino, but to carry positions to the area. In that regard they certainly succeeded. At the time of the sale, the Oxford utilized close to 400 personnel.
In a press introduced, Churchill Downs stated:
The acquisition of Oxford continues our focus on investing money in gaming-pleasant states, in newer qualities, in what we think are competitively defensible marketplaces, and at valuations that we feel will result in substantial potential cost-free money flow technology at charges of return attractive to our shareholders
Transaction is expected to be completed some time in Q4 2013. Churchill Downs also not too long ago bought an Atlanta-based mostly poker publishing organization for close to $ eight million.
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