A joint venture between Churchill Downs and Saratoga Casino Holdings has reached an agreement to purchase the Maryland’s Casino at Ocean Downs and Ocean Downs Racetrack from private interests for an undisclosed sum.
The harness track and racino, located in the city of Berlin, cover around 168 acres of land. The 6-year-old gaming floor features 800 video lottery terminals and electronic table games. The track also offers live racing.
The sale is expected to close later this year, the companies said, subject to receipt of all necessary approvals.
In related news, the Stronach Group has announced that it has closed on the purchase of the state’s Rosecroft Raceway from Penn National Gaming.
Rosecroft, located near the nation’s capital in Prince George’s County, houses a major off-tracking betting facility, as does Ocean Downs.
Terms of the deal were not disclosed. Penn bought the track in a bankruptcy auction for $11 million.
Stronach plans to begin making improvements to Rosecroft over the next 90 days, the company said. The track, which is open every day for full-card simulcasts, begins its live fall racing season on September 13.
Last year, the track handled $32 million in simulcast betting and $850,000 on more than 50 programs of live racing.
