{"id":731827,"date":"2023-02-15T16:09:06","date_gmt":"2023-02-15T21:09:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/"},"modified":"2023-02-15T16:09:06","modified_gmt":"2023-02-15T21:09:06","slug":"churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/","title":{"rendered":"Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">LOUISVILLE, Ky., Feb.  15, 2023  (GLOBE NEWSWIRE) &#8212; Churchill Downs Incorporated (\u201cCDI\u201d or the \u201cCompany\u201d) (Nasdaq: CHDN) announced today that the Company closed on the sale of 326-acres of property in Arlington Heights, Illinois, to the Chicago Bears for $197.2 million per the agreement announced in September 2021.<\/p>\n<p align=\"justify\">Pursuant to an Internal Revenue Code \u00a71031 transaction, CDI will apply the proceeds of the sale to the purchase of, and improvements to, real property previously acquired in connection with the Peninsula Pacific Gaming acquisition that closed in 2022.<\/p>\n<p align=\"justify\">\n        <strong>About Churchill Downs Incorporated<\/strong>\n      <\/p>\n<p align=\"justify\">Churchill Downs Incorporated (\u201cCDI\u201d, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company\u2019s 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. <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=AL4JA92kg11IgNDSQvWLOvd-diZP2r3GcM99cUMKjzqdGvIhDV5MBhX69Hy2FkAuAylfGtaSCsSBRUIYb4ThjJgTykIVUzWIE9__Xq2uwKclgyVDVYCHDhArfenDBh5Y\" rel=\"nofollow noopener\" target=\"_blank\">www.churchilldownsincorporated.com<\/a>.<\/p>\n<p align=\"justify\">\n        <em>This news release contains various \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995, such as our planned use of the proceeds from the sale described above. Forward-looking statements are typically identified by the use of terms such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201cwill,\u201d and similar words or similar expressions (or negative versions of such words or expressions). <\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, among others, that may materially affect actual results or outcomes include the factors described under the heading \u201cRisk Factors\u201d in our most recent Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:51%;width:51%;min-width:51%;vertical-align: top\">Investor Contact: Nick Zangari<\/td>\n<td style=\"max-width:49%;width:49%;min-width:49%;vertical-align: top\">Media Contact: Tonya Abeln<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">(502) 394-1157<\/td>\n<td style=\"vertical-align: top\">(502) 386-1742<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Nick.Zangari@KyDerby.com<\/td>\n<td style=\"vertical-align: top\">Tonya.Abeln@KyDerby.com<\/td>\n<\/tr>\n<\/table>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MDM1MSM1NDEyNTA5IzIwMTkwMDc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/Y2E0ODg4OTAtYzcyNi00Yzg3LTg3ZDEtNGE0NTdiODEzMTEwLTEwMzA1ODA=\/tiny\/Churchill-Downs-Incorporated.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOUISVILLE, Ky., Feb. 15, 2023 (GLOBE NEWSWIRE) &#8212; Churchill Downs Incorporated (\u201cCDI\u201d or the \u201cCompany\u201d) (Nasdaq: CHDN) announced today that the Company closed on the sale of 326-acres of property in Arlington Heights, Illinois, to the Chicago Bears for $197.2 million per the agreement announced in September 2021. Pursuant to an Internal Revenue Code \u00a71031 transaction, CDI will apply the proceeds of the sale to the purchase of, and improvements to, real property previously acquired in connection with the Peninsula Pacific Gaming acquisition that closed in 2022. About Churchill Downs Incorporated Churchill Downs Incorporated (\u201cCDI\u201d, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company\u2019s most iconic and enduring asset, the Kentucky Derby. Headquartered &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-731827","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOUISVILLE, Ky., Feb. 15, 2023 (GLOBE NEWSWIRE) &#8212; Churchill Downs Incorporated (\u201cCDI\u201d or the \u201cCompany\u201d) (Nasdaq: CHDN) announced today that the Company closed on the sale of 326-acres of property in Arlington Heights, Illinois, to the Chicago Bears for $197.2 million per the agreement announced in September 2021. Pursuant to an Internal Revenue Code \u00a71031 transaction, CDI will apply the proceeds of the sale to the purchase of, and improvements to, real property previously acquired in connection with the Peninsula Pacific Gaming acquisition that closed in 2022. About Churchill Downs Incorporated Churchill Downs Incorporated (\u201cCDI\u201d, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company\u2019s most iconic and enduring asset, the Kentucky Derby. Headquartered &hellip; Continue reading &quot;Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-15T21:09:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MDM1MSM1NDEyNTA5IzIwMTkwMDc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears\",\"datePublished\":\"2023-02-15T21:09:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\\\/\"},\"wordCount\":356,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODc1MDM1MSM1NDEyNTA5IzIwMTkwMDc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\\\/\",\"name\":\"Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears - 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Pursuant to an Internal Revenue Code \u00a71031 transaction, CDI will apply the proceeds of the sale to the purchase of, and improvements to, real property previously acquired in connection with the Peninsula Pacific Gaming acquisition that closed in 2022. About Churchill Downs Incorporated Churchill Downs Incorporated (\u201cCDI\u201d, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company\u2019s most iconic and enduring asset, the Kentucky Derby. Headquartered &hellip; Continue reading \"Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/","og_site_name":"Market Newsdesk","article_published_time":"2023-02-15T21:09:06+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MDM1MSM1NDEyNTA5IzIwMTkwMDc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears","datePublished":"2023-02-15T21:09:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/"},"wordCount":356,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MDM1MSM1NDEyNTA5IzIwMTkwMDc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/churchill-downs-incorporated-closes-on-sale-of-arlington-heights-property-to-chicago-bears\/","name":"Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears - 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