Louisville, KY and Saratoga Springs, NY --- Churchill Downs Incorporated and Saratoga Casino Holdings LLC today announced that they have completed their previously announced purchase of the Casino at Ocean Downs and Ocean Downs Racetrack from a private ownership group led by Mr. William M. Rickman Jr.
The purchase of the property by Old Bay Gaming & Racing, LLC, a new 50/50 joint venture formed by CDI and SCH, follows the approval of the transaction by the Maryland Lottery and Gaming Control Agency and the Maryland Racing Commission.
The Casino at Ocean Downs and Ocean Downs Racetrack are located in Berlin, Md., about five minutes from the coastal resort community of Ocean City, Md.
The Casino at Ocean Downs, which opened in 2010, hosts 800 video lottery terminals and electronic table games. Ocean Downs Racetrack, which opened in 1949, offers live seasonal harness racing as well as a year-round simulcast facility. Further information can be found at www.oceandowns.com.