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Churchill Downs to buy horse track

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Churchill Downs Inc. (Nasdaq: CHDN) announced it will buy Turfway Park in Florence, Kentucky, for $46 million.

Churchill Downs plans to demolish the horse track's current grandstand and a build a new racing facility that may cost up to $150 million.

With the purchase, Churchill Downs has scrapped plans for a $200 million horse racing and gaming venue in northern Kentucky.

Read more from Louisville Business First.

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