Churchill Downs Takes Over Casino Salem Project in New Hampshire

Churchill Downs Incorporated (CDI) is making a bigger push into the New England gaming market with a new investment in Salem, New Hampshire. The company has acquired a majority stake in the Casino Salem project, which just kicked off its first phase on July 9 with around 100 historical horse racing machines and 13 live table games.

Good to know

• Casino Salem’s first phase is now open with live table games and HRMs.
• CDI plans to expand the venue with a larger gaming floor and new dining options.
• The deal is still subject to final approvals from the New Hampshire Lottery Commission.

Churchill Downs plans to use its current credit facility to fund the acquisition, which is still awaiting final regulatory approval. Once cleared, the transaction is expected to close during Q3 2025. CEO Bill Carstanjen pointed to the location’s potential to draw crowds from across the region.

“New Hampshire is an exciting opportunity, and this transaction – and our new partnership with Joe Faro and Sal Lupoli – allows us to develop a regional destination to draw patrons to Salem from across the growing New England market,” Carstanjen said.

In addition to building out the Casino Salem property, CDI also plans to maintain operations at its existing venue in the city, Chasers Poker Room.

More upgrades on the way for Casino Salem

Although the initial launch included just over a dozen table games and a selection of HRMs, CDI has much larger plans in store. Upcoming phases will bring an expanded gaming area, new food and drink venues, and a full rebranding. The long-term goal is to transform the site into a destination property with broad regional appeal.

CDI is working closely with local developers Joe Faro and Sal Lupoli, who still retain ownership of the property. They emphasized the project’s potential to support the area’s economy and boost tourism.

“We are thrilled to move forward in partnership with Churchill Downs, one of the country’s preeminent gaming and entertainment operators,” they said. “With our vision for Salem, we remain committed to driving economic stimulus to our local economy, creating new jobs and increasing tourism while delivering a world-class destination that will create lasting benefits for the community for decades.”

A busy year for Churchill Downs

Beyond the Salem development, CDI has been active on several fronts. In March, the company renewed its multi-year partnership with Ford Motor Company, extending their deal through 2029 to keep Ford as the official automotive partner of the Kentucky Derby. It also announced a $920 Million Expansion to Elevate the Kentucky Derby.

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