CDI to Acquire Exacta Systems
Churchill Downs Incorporated (CDI) announced that it has entered into a definitive agreement under which CDI would acquire all of the outstanding equity interests of Exacta Systems LLC (Exacta) for total consideration of $250 million in cash (the Transaction), subject to certain working capital and other purchase price adjustments.
The Transaction will provide CDI the opportunity to realize synergies related to the Company’s recent acquisition of Colonial Downs Racetrack and the Rosie’s Gaming Emporium HRM facilities in Virginia.
Exacta, a provider of technology to support historical horse racing (HHR) operations, has integrated a diverse set of leading historical racing machine (HRM) gaming manufacturers into its HHR platform, including AGS, IGT, Light & Wonder, Everi, Konami, and Incredible Technologies. Exacta supports HHR operations in Virginia, Kentucky, Wyoming, and New Hampshire.
“For nearly a decade, Exacta has been a creative force supporting the growth of historical horse racing in the US. We look forward to expanding Exacta’s national footprint and further diversifying the game offerings available to players at HRM facilities around the country,” Bill Carstanjen, Chief Executive Officer of CDI, said.
The Transaction is dependent on various and customary closing conditions, including obtaining required regulatory approvals. The Transaction is expected to close in 2023.
