Churchill Downs Inc. Expands into New Hampshire with Chasers Poker Room Acquisition
The renowned Churchill Downs Incorporated (CDI) is broadening its horizons by purchasing Chasers Poker Room in the state of New Hampshire. This strategic acquisition will bring the philanthropic gaming establishment under the CDI banner, with a keen interest in capitalizing on New Hampshire’s established market for historic horse racing.
Founded in 2017, Chasers provides poker and other tabletop games. Existing charitable gaming entities in New Hampshire are permitted to offer historic horse racing under state law. Chasers’ strategic location, a mere 30 minutes from Boston, makes it an ideal venue for CDI to introduce its flagship offering to the northeastern United States. Upon finalization of the acquisition, CDI intends to erect a more spacious facility in Salem to house historic horse racing machines (HRMs).
“New Hampshire represents a compelling prospect for us to utilize our proficiency in historical horse racing as we extend our reach into the New England market,” remarked Bill Carstanjen, Chief Executive Officer of Churchill Downs Incorporated. “We eagerly anticipate sharing further details regarding our intentions to construct an expanded, cutting-edge gaming establishment in Salem over the next several months.”
The transaction is projected to conclude later this year, contingent upon receiving regulatory clearance from the New Hampshire Lottery Commission and satisfying other standard closing prerequisites.
The horse racing enterprise Churchill Downs Inc. is poised to enlarge its footprint to a fourth state, New Hampshire. This expansion would complement its current ventures in Kentucky, Virginia (after securing Peninsula Pacific Entertainment), and Louisiana (pending the HRM expansion’s completion) – provided all projected initiatives materialize.
New Hampshire regulations stipulate that a designated share of proceeds from charitable gaming must be distributed to licensed non-profit entities operating within the state.