Churchill Downs Finalizes Casino Salem Acquisition and Plans Expansion

Churchill Downs has taken full control of its Salem, New Hampshire venture, completing the purchase of the majority interests in Casino Salem. The deal clears the way for future development phases as the operator looks to create a larger entertainment destination in New England.

Good to Know

• Churchill Downs closed its Casino Salem acquisition after receiving Lottery Commission approval.
• Plans include expanded gaming, dining, and entertainment under a major rebrand.
• The company reported record net revenue and adjusted EBITDA in Q2 2025.

Casino Salem opened its first phase on July 9, offering charitable gaming and hospitality experiences. Churchill Downs announced just days later it would finalize its acquisition by July 14, subject to closing conditions. That process is now complete, giving the operator full oversight of the property and its expansion strategy.

CEO Bill Carstanjen described the deal as a key step in establishing a destination property for 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. We look forward to sharing more about our plans to build an expanded, state-of-the-art gaming and entertainment facility in Salem and to support charitable organizations throughout New Hampshire.”

The acquisition gives Churchill Downs the right to build out a larger venue that blends charitable gaming, dining, and live entertainment. Plans include a rebranded property, an expanded gaming floor, and several new food and beverage outlets. The company is funding the project through its existing credit facility.

With approval already secured from the New Hampshire Lottery Commission, construction work on future phases can begin. Churchill Downs expects the expanded venue to strengthen its reach in the growing New England casino market while also channeling revenue into local charitable organizations.

Stronger Financial Footing

The expansion comes at a time when Churchill Downs is posting record results. In its Q2 2025 financials, released on July 23, the company reported new all-time highs in both net revenue and adjusted EBITDA. Those gains provide a solid financial base for the investments planned in Salem.

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