Oxford Casino Sale is Final – Time for Expansion?

The Maine Gambling Control Board approved the acquisition paving the way for Churchill Downs to complete its purchase of the Maine casino.

Churchill Downs Inc., operator of the Kentucky Derby, on Wednesday said it has completed its purchase of Oxford Casino for $160 million in cash. It originally opened in June 2012 by Black Bear Realty Co. LLC and at this time has 790 slot machines and 22 table games.

Churchill Downs doesn’t plan changes that would affect the casino’s management or employees, according to Courtney Yopp Norris, a company spokeswoman. In regard to future investments in the casino, Norris said it was “too early to say what the company has planned…“Now that we actually have the facility, we’ll start making decisions about how to move forward with capital investments for the property.”

Churchill Downs Racetrack, home of the Kentucky Derby. It also owns casino and racetrack operations in Florida, Illinois, Louisiana and Mississippi. 

Ok, a show of hands…how many of you are sure as shooting’ that they already have future plans and that those plans will start soon?

The success of the casino has proved to be well over expectations. Last week’s Corvette giveaway, when fire marshall could allow anymore people inside due to occupancy laws, shows the room for expansion. People waited outside for others to leave so they could go in.  What a nice problem to have!

Bangor, home to the Maine’s first full casino The Hollywood Casino, Hotel & Raceway, is 2 and 1/2 hours away. The closest possible Massachusetts Casino (at this point in the process) is slated to be in Tewksbury – 3 and 1/2 hours away. Not too close, but to attract more Massachusetts and New Hampshire patrons, while keeping their locals close, Churchill Downs, Inc. must be thinking expansion. Hotel, restaurant and added gaming space would make it a serious contender in that area.

Congratulations for Oxford’s success and Churchill Downs for its acquisition. Time to build!

That’s all for now.