Churchill Downs Inc. announced Aug. 22 that the company has completed its previously-announced purchase of Exacta Systems, for total consideration of $250 million in cash, subject to certain working capital and other purchase price adjustments.
Exacta is a leading provider of technology to support historical horse racing operations across the country. Through its ownership of Colonial Downs Racetrack and Rosie’s Gaming Emporium historical racing machine facilities, the transaction will enable CDI to realize significant and immediate synergies related to the company’s Virginia operations.
CDI will also realize additional operational improvements over time through the diversification of games available at its HRM facilities. Exacta will operate within the company’s TwinSpires segment and will continue to service its growing portfolio of third-party HHR operators in Kentucky, Wyoming, and New Hampshire.
The transaction was funded with cash on hand and with the company’s existing credit facility.
This press release has been edited for content and style by BloodHorse Staff.
