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CDI To Acquire Colonial Downs

Churchill Downs, Inc. is set to acquire Colonial Downs, as well as several historical horse racing facilities in the state, after the company announced it has entered into a purchasing agreement to acquire the assets of the Virginia racetrack's owner, Peninsula Pacific Entertainment LLC. A Tuesday morning release from CDI put the value of the deal at $2.485 billion. "This unique set of assets expands our geographic footprint and provides additional scale," said Bill Carstanjen, Chief Executive Officer of CDI. "P2E has done an exceptional job developing and managing this...

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