Churchill Downs buys Maine casino for $160 million

03/31/2013 | Fox Business

Churchill Downs said it has entered a deal to acquire Oxford Casino in Maine from Black Bear Realty for $160 million, pending approval from the Maine Gaming Control Board. "The acquisition of Oxford continues our focus on investing capital in gaming-friendly states, in newer properties, in what we believe are competitively defensible markets, and at valuations that we believe will result in significant future free cash flow generation at rates of return attractive to our shareholders," Churchill Downs Chairman and CEO Robert Evans said.

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