It has been reported that Churchill Downs Inc. has agreed to purchase Harlow's Casino Resort & Hotel in
The purchase price will be $138 million, according to an article by The Wall Street Journal. The deal is expected to close within six months.
"The key determinants of our decision to acquire Harlow's were further strategic business and geographic diversification," Churchill President and Chief Executive Robert L. Evans was quoted as saying. "With the acquisition of Harlow's, we continue our diversification strategy across our racing, gaming and online business units."
The 1930s-themed facility has a 33,000-square-foot casino, a 105-room hotel and an arena with 2,600 seats.
In November, 2009, Churchill Downs Inc. bought the online horseracing handicapping and betting site Youbet.com Inc. for $126.8 million.
(With files from The Wall Street Journal)