Churchill Downs discloses plan in federal filing, says no timetable established
The corporate owner of Ocean Downs is considering selling the Berlin casino and racetrack as part of a review of its regional gaming properties across the country.
Churchill Downs Inc., the property’s Louisville-based owner, disclosed the possible sale in a July 29 filing with the U.S. Securities and Exchange Commission. It said no decision has been made, no timetable has been established, and there is no guarantee that a transaction will occur.
Churchill Downs also said it does not plan to provide updates on the review unless it determines that disclosure is appropriate or legally required.
The company will be “exploring strategic alternatives for certain wholly owned regional gaming assets,” spokesman Breck Thomas-Ross told OC Today-Dispatch in a statement.
He said the review is part of a corporate strategy to reinvest in Churchill Downs racetrack, the Kentucky Derby, and the company’s online horse racing betting platform, TwinSpires.
The SEC filing identifies eight other Churchill Downs-owned casino and hotel properties across the country as possible sale candidates.
Churchill Downs acquired a controlling interest in Ocean Downs in 2017 and purchased the remaining ownership interest in 2022.
Any new owner seeking to operate the casino or conduct live racing would need state approval.