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Churchill Downs Inc. agrees to buy Ellis Park in $79M cash deal

Necker Island wins the Jeff Hall Memorial Stakes on July 24, 2022, at at Ellis Park in Henderson, Kentucky. (Provided Photo/Ellis Park)

LOUISVILLE, Ky. (AP) — Churchill Downs Inc. has agreed to buy Ellis Park in Henderson, Kentucky, for $79 million in cash.

The closing of the deal is contingent upon the approval of the Kentucky Horse Racing Commission.

Ellis Park is south of Evansville, Indiana, and it runs a summer thoroughbred racing meet.

Churchill Downs Inc. is planning to build a gambling and entertainment venue in Owensboro, Kentucky.

Churchill Downs Inc. says it expects to invest an additional $75 million as part of that project. Churchill Downs the parent company of Churchill Downs, home of the Kentucky Derby.