Churchill Downs Completes the Purchase of Exacta for $250M
LISTEN TO THIS ARTICLE:Churchill Downs Incorporated (CDI), the North American racetrack owner and gaming entertainment company, has announced it has completed the acquisition of Exacta, which specialize in providing Historical Horse Racing (HHR).
Under the terms of the deal, CDI paid $250 million for Exacta, which was funded by cash from the entertainment company. The deal was first announced by CDI in December of 2022, and the company explained it was purchasing Exacta to promote the growth of the HHR market and plans to diversify Exacta’s offering.
Results from CDI for the last quarter of this year show that the company’s HHR revenue saw a significant rise in this period, so absorbing Exacta makes sense.
Related: Churchill Downs Posts Record Figures Despite a Drop in Net Income
Churchill Downs Aim for Operational Synergy
CDI has expressed that one of the main benefits of the purchase of Exacta is the synergies both companies will achieve as part of the acquisition. This will immediately have an impact on the operations of CDI in the US state of Virginia.
Exacta is one of the leading technology providers of HHR in North America, and its flagship Exacta Connect platform is used by operators throughout the country as well as its HHR offering Exacta also owns Colonial Downs Racetrack and Rosie’s Gaming Emporium.
It is proposed that Exacta is to be integrated into the TwinSpires platform at CDI and will be used to meet the demand for HHR from CDI partners in the US states of Kentucky, Wyoming, and New Hampshire.
Also, the Horse Racing Machines (HRM) platform from CDI will gain increased diversification because games from Exacta can be added to the HRM offering.
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