LOUISVILLE, Ky. -- Churchill Downs, based here, agreed to buy the
Hollywood Park Race Track, the Hollywood Park Casino and the
surrounding 240 acres located in Inglewood, Calif., for $140
According to an agreement between Churchill Downs and Hollywood
Park, Churchill Downs will grant Hollywood Park a long-term lease
on the casino, a California card club located at the racetrack, for
$3 million per year with a renewal option.
The deal, which is subject to the approval of the California
Horse Racing Board and other regulatory agencies, is expected to
close in the third quarter of this year.