Churchill Downs Incorporated Completes Acquisition of Exacta Systems

Acquisition of Historical Horse Racing Technology Provider Allows CDI to Realize Immediate Operational Synergies in Virginia

LOUISVILLE, Ky., Aug. 22, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) (NASDAQ: CHDN) announced today that the Company has completed its previously-announced purchase of Exacta Systems, LLC (“Exacta”) for total consideration of $250 million in cash (the “Transaction”), subject to certain working capital and other purchase price adjustments.

Exacta is a leading provider of technology to support historical horse racing (“HHR”) operations across the country. Through its ownership of Colonial Downs Racetrack and Rosie’s Gaming Emporium historical racing machine (“HRM”) facilities, the Transaction will enable CDI to realize significant and immediate synergies related to the Company’s Virginia operations. CDI will also realize additional operational improvements over time through the diversification of games available at its HRM facilities. Exacta will operate within the Company’s TwinSpires segment and will continue to service its growing portfolio of third-party HHR operators in Kentucky, Wyoming, and New Hampshire.

The Transaction was funded with cash on hand and with the Company’s existing credit facility.

About Exacta Systems

Exacta Systems employs a pioneering technology driving growth in new and existing HHR markets. Exacta Connect’s robust and flexible system architecture supports multiple game vendors and virtually unlimited math modeling capabilities on a single system enabling Exacta to deliver a diverse gaming library with second-to-none entertainment experiences. For more information visit: www.exactasystems.com.

About Churchill Downs Incorporated

Churchill Downs Incorporated (“CDI”) (NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. More information is available at http://www.churchilldownsincorporated.com.