Churchill Downs Incorporated (CDI) is entering the New Hampshire market through the purchase of Chasers Poker Room. This strategic move will enable CDI to broaden its historical horse racing (HHR) business into a fresh and expanding market.
Situated conveniently near Boston, Chasers has provided poker and other table games since 2017. However, CDI’s main focus is on its potential as a center for HHR. New Hampshire recently authorized existing charitable gaming providers to offer HHR, positioning Chasers as an ideal spot for CDI’s growth strategy.
Upon finalizing the agreement, CDI intends to construct a larger facility in Salem to house HHR machines. They are confident about the prospects and believe their proficiency in HHR machines will be a significant advantage in this developing market.
The acquisition is contingent upon customary closing requirements, including consent from the New Hampshire Lottery Commission.
The horse racing company, Churchill Downs Inc., is poised to introduce live races in New Hampshire, marking its fourth state expansion. This addition joins their current ventures in Kentucky, Virginia (post-Peninsula Pacific Entertainment merger), and Louisiana (pending HRM expansion completion). This strategic move hinges on a seamless process.
New Hampshire regulations stipulate that a designated percentage of proceeds from charitable gaming activities must be distributed to authorized non-profit organizations operating within the state.