Churchill Downs Incorporated Closes on Sale of 115.7 Acres of Land by Calder Casino for $291 Million
LOUISVILLE, KY., (June 17, 2022) – Churchill Downs Incorporated (“CDI” or “Company”) (Nasdaq: CHDN) announced today that it closed on the sale of 115.7 acres of excess land near Calder Casino for $291 million (or approximately $2.5 million per acre) to Link Logistics, one of the premier owners of logistics real estate assets, established in 2019 by Blackstone.
CDI is planning to use certain proceeds of the sale to purchase property as part of the previously announced Peninsula Pacific Gaming acquisition and to invest in other replacement properties that qualify as Internal Revenue Code §1031 transactions.
CDI now retains ownership of approximately 54 acres of land on which the Company’s wholly-owned Calder Casino sits. The Company may sell 15-20 acres of land along NW 27th Ave. in the Miami Gardens area in the future for retail development.
About Churchill Downs Incorporated
Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We own and operate three entertainment venues with approximately 3,050 historical racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online wagering platforms for horse racing in the U.S. and we have nine retail sportsbooks. We are also a leader in brick-and-mortar casino gaming in nine states with approximately 11,000 slot machines and video lottery terminals and 200 table games. Additional information about Churchill Downs Incorporated can be found online at www.churchilldownsincorporated.com.
Press Contacts
Nick Zangari
Vice President, Treasury, Investor
Relations & Risk Management
Phone: (502) 394-1157
Email: [email protected]
