Churchill Downs Incorporated Agrees to Acquire Remaining 50% Ownership of Ocean Downs in Exchange for Its 25% Interest in Saratoga Casino Hotel and Saratoga Casino Black Hawk
Churchill Downs, Incorporated (CHDN)
Last churchill downs, incorporated earnings: 4/29 04:07 pm
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Source: GlobeNewswire
LOUISVILLE, Ky., July 16, 2018 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (Nasdaq:CHDN) today announced that it has agreed to acquire the remaining 50% ownership of the Casino at Ocean Downs and Ocean Downs Racetrack located in Berlin, Maryland (“Ocean Downs”) owned by Saratoga Casino Holdings LLC (“SCH”) in exchange for CDI’s 25% equity interest in SCH. SCH is the parent company of Saratoga Casino Hotel in Saratoga Springs, New York (“Saratoga New York”) and Saratoga Casino Black Hawk in Black Hawk, Colorado (“Saratoga Colorado”). CDI has entered into a tax-efficient partial liquidation agreement (the “Liquidation Agreement”) with Saratoga Harness Racing, Inc. (“SHRI”) to liquidate CDI’s 25% equity stake in SCH in exchange for the remaining 50% interest in Ocean Downs held by SCH. CDI is, in effect, acquiring 37.5% of Ocean Downs because it has indirectly owned an additional 12.5% of Ocean Downs through its 25% ownership interest in SCH. Upon closing of this tran
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CHDN
Earnings
- 2/21/24 - Beat
CHDN
Sec Filings
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- 3/14/24 - Form ARS
- CHDN's page on the SEC website