Churchill Downs Incorporated has agreed to acquire the outstanding equity interests of Casino Salem, a joint venture to develop gambling and entertainment facilities in New Hampshire.
The agreement covers charitable gaming, entertainment and dining destination featuring historical horse racing machines. Churchill Downs did not disclose the financial details behind the Casino Salem acquisition deal.
Casino Salem is located at The Mall at Rockingham Park. Its initial phase opened on July 9, with approximately 100 HRMs and 13 live table games.
Over the coming months, Churchill Downs will finalize plans and commence construction of the future phases of the project. This includes rebranding the venue, expanding the gaming floor, and several food and beverage concepts.
Local developers Joe Faro and Sal Lupoli will maintain ownership in Casino Salem.
‘Exciting Opportunity’ for Churchill Downs
Churchill Downs CEO Bill Carstanjen described the project as an “exciting opportunity” for the business, which will draw customers from across the “growing New England market.”
Carstanjen said: “We look forward to sharing more about our plans to build an expanded, state-of-the-art gaming and entertainment facility in Salem and to support charitable organizations throughout New Hampshire.”
Developers Faro and Lupoli said the partnership will not only support the project but benefit the local community in Salem.
“With our vision for Salem, we remain committed to driving economic stimulus to our local economy, creating new jobs, and increasing tourism while delivering a world-class destination that will create lasting benefits for the community for decades,” they said.
