Churchill Downs, Inc. has completed the purchase of Presque Isle Downs, opening the door for the company to take advantage of legalized sports betting in Pennsylvania.
CDI bought the Erie racetrack from Eldorado Resorts for just shy of $179 million. The deal was approved by the Pennsylvania Gaming Control Board and the Pennsylvania State Horse Racing Commission.
“Presque Isle will give us a foothold in Pennsylvania and the opportunity to participate in the sports betting and online gaming market throughout the state,” said Churchill Downs, Inc. CEO Bill Carstanjen. “We are excited about welcoming Presque Isle and its employees to the Churchill family.”
Presque Isle's casino, which opened in 2007, has 1,600 slot machines, 32 table games and a poker room. At the end of last year, Presque Isle requested a sports betting license from state officials that would allow betting at the track and online wagering to anyone in Pennsylvania.
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