Churchill Downs and Saratoga Casino have acquired the casino at Ocean Downs, MD. The joint venture will also see the Kentucky race company and the New York casino firm acquire the venue’s harness racetrack.
[dropcap]C[/dropcap]hurchill Downs and Saratoga Casino Holdings have reached an agreement to acquire the casino at Ocean Downs and Ocean Downs Racetrack in Berlin, Maryland for an undisclosed sum.
Ocean Downs offers 800 video lottery terminals and electronic table games together with live seasonal harness racing.
The casino’s previous owner, William Rickman Jr, who will now become a senior adviser at the venue, said: “This was a great opportunity to continue what we have started and turn Ocean Downs over to two organizations with worldwide reputations for excellence in gaming and horse racing. I will be working with them closely over the coming years to make sure this is a success.”
I will be working with them closely over the coming years to make sure this is a success.
Ocean Downs was acquired in 2000 by Rickman, who also owns Delaware Park, from Bally Entertainment for $5.1m (€4.6m), and the $45m casino was built 10 years later.
Rickman added: “We have absolutely enjoyed the opportunity to build a wonderful gaming facility at Ocean Downs, enhance the state horse racing industry and support the people of our community and the state of Maryland with jobs and additional tax revenue for the past 16 years.”