Churchill Downs Incorporated Tuesday announced it completed its purchase of Exacta Systems for $250 million in cash. The transaction is subject to certain working capital and other purchase-price adjustments.
Exacta is a provider of technology that supports historical horse racing operations. Through its ownership of Colonial Downs Racetrack and Rosie’s Gaming Emporium historical racing machine operations, the transaction will enable CDI to realize significant and immediate synergies related to the company’s Virginia operations.
CDI also will benefit from additional operational improvements through the diversification of games available at its historical racing machine facilities. Exacta will operate within the CDI’s TwinSpires segment and will continue to service its portfolio of third-party historical horse racing operators in Kentucky, Wyoming, and New Hampshire.
The transaction was funded with cash on hand and Churchill Downs’ existing credit facility.
