Churchill Downs buys Lady Luck Casino Nemacolin in Pennsylvania

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Churchill Downs Inc. has completed a deal to acquire a Pennsylvania casino, the company announced.

The deal gives the Louisville company control over Lady Luck Casino Nemacolin in Farmington, Pennsylvania, for $100,000, according to a news release from Friday.

Churchill Downs Inc., which oversees the world-renowned Kentucky Derby, also acquired certain assets related to the management of the Pennsylvania casino from Eldorado Resorts Inc., according to the release.

The transaction was approved by the Pennsylvania Gaming Control Board earlier in the week. 

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Lady Luck Casino Nemacolin opened in 2013 in southwestern Pennsylvania and operates approximately 600 slot machines and 27 table games, according to the release.

Outside of Kentucky, Churchill Downs Inc. owns casinos in seven states as well as two racetracks in Illinois and Louisiana. It also operates the largest, legal online wagering platform for horseracing in the U.S. through its ownership of TwinSpires.com.

Shares of Churchill Downs Inc. on the Nasdaq traded down 6 cents on Friday, ending at $87.38.

https://www.courier-journal.com/story/news/2019/03/09/churchill-downs-acquires-pennsylvania-lady-luck-casino-nemacolin/3113513002/

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