Churchill Downs’ Completes Acquisition – Expansion Plans Now Being Made

Churchill Downs Incorporated (CDI) announced today that it has completed the purchase of Oxford Casino, a deal valued at approximately 160 million. CDI’s acquisition of the casino property follows the approval of the transaction by the Maine Gambling Control Board.

“We are extremely pleased to complete this transaction earlier than anticipated and appreciate the timely action of the Maine Gambling Control Board who made this possible,” said Chairman and CEO Bob Evans.

As I had mentioned in earlier posts, plans are now being made for future expansion. First, construction on a $20 million waste water treatment facility and sewer system could begin as early as this fall, according to Town Manager Michael Chamming. It will connect to the Oxford Casino and a planned hotel and restaurant project, slated to be built across the road from the casino, as the first phase of the state’s new membrane filtration system.

As part of their expansion interests CDI will be investing approximately $3.2 million to expand the gaming floor, making space for more table games.

Other expansion in the Oxford area includes a developer who has submitted an application to build a $125 million hotel, restaurant and retail project across from the Oxford Casino.

Casalinova Development Group applied earlier this summer for a credit-enhancement agreement to develop a 550-acre property along Route 26. According to the Sun Journal, the first phase would include the design and construction of a hotel, a restaurant, a day-care facility, a water park and an ice cream stand, as well as infrastructure improvements such as water, sewer, electric and telephone. The project is not affiliated with the casino, but what an addition this could be to the future plans that Churchill Downs has.

It’s continuing to be an exciting time in Maine foe New England gamblers.

That’s all for now.