![]() ![]() ![]() It has no equity interest or management involvement in Saratoga New York or Saratoga Colorado, but it will have exclusive rights to operate internet real-money sports betting and real-money gaming on behalf of Saratoga in New York and Colorado for 15 years, provided that sports betting is legalized. The transaction, in effect, allowed Churchill to acquire a 37.5% holding in Ocean Downs due to its indirect ownership of an additional 12.5% of Ocean Downs through its 25% stake in Saratoga.Ĭhurchill now has 100% ownership of Ocean Downs. Ocean Downs Racetrack opened July 1949 and Ocean Downs Casino came online in January 2011, creating an exceptional harness racing and gaming experience in Berlin, MD, just 10 minutes from Ocean City, MD. Churchill Downs took full ownership of Ocean Downs in September 2018, swapping its 25 percent stake in Saratoga for Saratoga's 50 percent stake in the track. Specialties: Experience the best in gaming, slots, table games, horse racing & dining Established in 1949. Under the terms of the deal, Churchill received the assets in exchange for its 25% stake in Saratoga Casino Holdings, which owns Saratoga Casino Hotel in New York and Saratoga Casino Black Hawk in Colorado.Ĭhurchill entered into a tax-efficient partial liquidation agreement with Saratoga Harness Racing Inc. In January 2017, Rickman sold the track to a joint venture of Churchill Downs Incorporated - Wikipedia. 4 said it had completed its previously announced purchase of the 50% stake that it did not own in the casino at Ocean Downs and Ocean Downs Racetrack in Berlin, Md., from Saratoga Casino Holdings LLC. ![]()
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