Churchill Downs Inc. has reached a deal to buy Presque Isle Downs and Casino in Erie, Pa., the company announced on Wednesday after releasing its 2017 financial results.
Churchill will pay $178.9 million in cash to buy Presque Isle from El Dorado Resorts, according to a release sent out by El Dorado. In addition, Churchill is buying a casino in Vicksburg, Miss., from El Dorado, with that acquisition costing $50.6 million in cash, for a total of $229.5 million.