BERLIN, Md.- Two casino companies are coming together to gamble themselves. They announced Tuesday they intend to buy the Ocean Downs Race Track and Casino in Worcester County.
Churchill Downs Inc., based out of Kentucky, and New York-based Saratoga Casino Holdings, LLC., said in a joint press release that they are purchasing Ocean Downs. Churchill Downs Inc. is actually the company behind the Kentucky Derby. The purchase price was not given in the press release.
William Rickman Jr., who led the private group that owned Ocean Downs, has agreed to remain as a senior advisor to the new owners in his capacity as executive vice president of Maryland Gaming LLC to ensure that this partnership is successful, officials said.
There are still several conditions that have to be met before the deal closes.
