Churchill Downs Incorporated Completes Acquisition of a Majority of Casino Salem Project in New Hampshire

Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”) announced today that the Company has completed its previously announced purchase of a majority of the outstanding interests of a Salem, New Hampshire joint venture (“Casino Salem”) with the right to develop a charitable gaming, entertainment and dining venue.

The initial phase of Casino Salem opened on July 9th. CDI will finalize plans and commence construction of the future phases of the project, including a rebranding of the venue, an expansion of the gaming floor, and several food and beverage concepts.

The acquisition was funded with the Company’s existing credit facility. Closing of the transaction was subject to usual and customary closing conditions, including receipt of approval by the New Hampshire Lottery Commission.