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Churchill Downs is reviewing the future of Oxford Casino in Maine as the company considers where to direct capital across its racing, gaming and wagering businesses.
No sale has been confirmed. However, Oxford Casino could form part of a wider review as Churchill Downs concentrates investment around Churchill Downs Racetrack, the Kentucky Derby and TwinSpires.
Good to Know
- Churchill Downs acquired Oxford Casino in 2013 after the property opened in 2012.
- The Maine casino has nearly 1,000 slot machines and more than 20 table games.
- Churchill Downs reported record second-quarter revenue of $980 million in 2026.
Oxford Casino Could Be Included in Churchill Downs Review
Churchill Downs has started considering strategic alternatives for parts of its portfolio, with Oxford Casino among the properties that could potentially be sold, according to local media reports.
The company has not set a timetable or committed to a transaction.
“We remain focused on creating long-term value for our shareholders,” Churchill Downs Senior Director of Communications Breck Thomas-Ross said.
A disposal would give Churchill Downs another source of capital for its core horse racing and online wagering operations. The company has continued investing heavily in Churchill Downs Racetrack while TwinSpires remains its main online horse racing betting platform.
Oxford Casino sits at 777 Casino Way in Oxford, Maine, and currently offers nearly 1,000 slot machines alongside more than 20 table games.
Maine voters approved the casino development in 2010 and the property opened two years later. Churchill Downs acquired it in 2013, when its reported value stood near $160 million.
The company later spent $25 million on an expansion that added a hotel, restaurants and other facilities.
Oxford Casino also entered a separate legal fight in January 2026. The Churchill Downs owned property sued the Maine Gambling Control Unit in federal court over the state tribal exclusive online casino law, arguing that giving the four Wabanaki Nations sole access to iCasino gaming creates an unlawful race based monopoly. The complaint estimated that commercial casinos could lose 378 jobs, $22 million in labor income and about $60 million in wider economic activity.
Churchill Downs Enters Review After Record Quarter
The possible Oxford Casino sale comes from a company posting record financial results rather than one facing an immediate earnings problem.
Churchill Downs generated $980 million in second-quarter revenue, up 5% from $934 million a year earlier. Adjusted EBITDA increased 6% to a record $477 million, while net income rose 11% to $241 million.
Live and Historical Racing remained the largest operating segment, producing $575 million in second-quarter revenue and $318 million in adjusted EBITDA. Churchill Downs also reported record wagering during Kentucky Derby Week and ended June with net bank leverage of 3.7x.
The figures give Churchill Downs flexibility to reshape its casino holdings while directing more investment toward racing and wagering assets. Any Oxford Casino transaction still depends on the outcome of the strategic review.
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