LOUISVILLE: Churchill Downs Incorporated (Nasdaq: CHDN) announced Tuesday it has signed definitive agreements to acquire a majority stake in Casino Salem, a joint venture developing a charitable gaming, dining and entertainment venue featuring historical horse racing machines (HRMs) in Salem, New Hampshire.
The venue is located at The Mall at Rockingham Park, approximately 30 minutes from downtown Boston. Prominent local developers Joe Faro and Sal Lupoli will retain minority ownership in the venture.
An initial phase of Casino Salem opened July 9, offering approximately 100 HRMs and 13 live table games. Churchill Downs Incorporated (CDI) stated it will now finalize plans and begin construction on future phases. These include rebranding the venue, expanding the gaming floor, and introducing several new food and beverage concepts.
“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,” said Bill Carstanjen, CEO of CDI. “We look forward to sharing more about our plans to build an expanded, state-of-the-art gaming and entertainment facility in Salem.”
“We are thrilled to move forward in partnership with Churchill Downs, one of the country’s preeminent gaming and entertainment operators,” said Faro and Lupoli in a joint statement. “With our vision for Salem, we remain committed to driving economic stimulus… creating new jobs, and increasing tourism while delivering a world-class destination.”
CDI will continue to operate its separate Chasers Poker Room in Salem independently from the Casino Salem venture.
The company will finance the acquisition using its existing credit facility. Closing is anticipated during the third quarter of 2025 and is subject to customary conditions, including approval by the New Hampshire Lottery Commission.