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Oxford Casino to be Sold for $160M
03/29/2013 01:10 PM ET  

The deal awaits approval by the Maine Gaming Control Board. It's expected to close in the fourth quarter of 2013.

OXFORD, Maine (AP) _ Oxford Casino in western Maine is being sold for about $160 million to Churchill Downs Inc.

The deal awaits approval by the Maine Gaming Control Board. It's expected to close in the fourth quarter of 2013.

Churchill Downs Chairman Robert Evans says the acquisition of Oxford continues its focus on investing capital in gaming-friendly states and in newer properties. Churchill Downs Inc. is a multi-state, publicly traded company with racetracks, casinos and online wagering.

Bob Bahre of Black Bear Realty, the casino's developer, says operating casinos is not its core business, and the time was right to look for a major gaming company that could take the property to the next level.

The property opened in June 2012 and completed an expansion of its gaming floor in last fall.



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