Churchill Downs Inc. (NASDAQ: CHDN) announced that it is considering the sale of nine of its wholly owned gaming properties.
According to the Paulick Report, the company stated in a filing with the Securities and Exchange Commission (SEC) that it has completed “a comprehensive review of the Company’s operational portfolio and long-term capital allocation priorities.” The sale of the nine properties is being considered as “strategic alternatives,” although no timeline was set for a decision on potential sales.
The properties in question are Calder Casino (Florida), del Lago Resort and Casino (New York), Hard Rock Hotel & Casino (Iowa), Harlow’s Casino Resort and Spa (Mississippi), Ocean Downs Casino and Racetrack (Maryland), Oxford Casino Hotel (Maine), Presque Isle Downs & Casino (Pennsylvania), and Terre Haute Casino Resort (Indiana).
However, the company’s flagship racing properties – including Churchill Downs Racetrack, the home of the Kentucky Derby – and its Kentucky historical horse racing operations plus its Derby City Gaming facilities in Louisville – are not included in the review.
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