Casino Salem in New Hampshire, recently opened, has been bought by Churchill Downs.
Churchill Downs Acquires Majority Stake in Casino Salem in New Hampshire
Churchill Downs, the renowned operator of the Kentucky Derby, has announced its acquisition of a majority stake in Casino Salem in New Hampshire. This move marks the company's first venture into casino operation, and it aims to transform the venue into a charitable gaming, entertainment, and dining destination.
The acquisition gives Churchill Downs majority control of the Casino Salem joint venture. The company, known for its expertise in gaming and horse racing entertainment, intends to leverage this knowledge to enhance the property experience. The focus is on incorporating charitable gaming components, along with historical horse racing machines (HRMs), state-of-the-art gaming devices based on horse race betting.
Churchill Downs plans to develop Casino Salem into a notable entertainment venue with dining and gaming facilities tailored to the New Hampshire market. This expansion fits the company's broader gaming portfolio across multiple states, capitalizing on their experience with similar properties featuring HRMs and integrated entertainment offerings.
Current owners, Sal Lupoli and Joe Faro, who also run The Artisan Chef Manufacturing Co. and Lupoli's holdings include 130 Sal's Pizza franchises, will continue to hold a stake in Casino Salem after the acquisition. The transaction is expected to close in the third quarter.
William Carstanjen, CEO of Churchill Downs, expressed his excitement about the New Hampshire opportunity. He did not, however, specify the acquisition price for Casino Salem or the company's future plans for the venue beyond development toward a charitable gaming and entertainment facility.
Located at The Mall at Rockingham Park, Casino Salem is roughly a 30-minute drive from Boston. Churchill Downs also confirmed that it will continue to operate the Chasers Poker Room in nearby Salem.
Churchill Downs is committed to supporting charitable organizations throughout New Hampshire. Faro and Lupoli described the company as one of the country's preeminent gaming and entertainment operators. No information is provided about the current ownership structure of Churchill Downs.
The acquisition of Casino Salem comes less than a week after its July 9 opening. It is part of Churchill Downs' strategy to create a regional destination to attract patrons from across New England.
Churchill Downs, being the operator of the Kentucky Derby, is planning to use its expertise in gaming and horse racing entertainment to transform Casino Salem, a newly opened casino in New Hampshire, into a charitable gaming, entertainment, and dining destination, offering various casino games.
With the acquisition, Churchill Downs aims to incorporate historical horse racing machines (HRMs) and state-of-the-art gaming devices into the venue, making it a notable entertainment destination with varied casino-and-gambling options.
