07/17/2013 5:20PM

Churchill Downs Inc. finalizes deal for Maine casino

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The Maine Gambling Control Board has approved a deal to sell a casino in Oxford to Churchill Downs Inc., allowing Churchill to close the $160 million transaction, the company announced on Wednesday.

The casino, which opened in June 2012, is the third standalone casino that Churchill has bought in the past several years. Its two other standalone casinos are in Mississippi.

The Oxford casino is located about 40 miles northwest of Portland, Maine, and includes a 25,000 square-foot gambling floor, with 790 slot machines and 22 table games.

Churchill also operates casinos at its Calder Race Course in Miami and Fair Grounds racetrack in New Orleans.