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Photo Release -- Miami Valley Gaming & Racing Completes Purchase Of Racing Licenses From Lebanon Trotting Club Inc., Miami Valley Trotting Inc.

Stocks in this article: CHDN

BUFFALO, N.Y. and LOUISVILLE, Ky., Dec. 21, 2012 (GLOBE NEWSWIRE) -- Miami Valley Gaming & Racing, a joint venture of Delaware North Companies Gaming & Entertainment and Churchill Downs Incorporated (CDI), today completed its purchase of the harness racing licenses and certain assets held by Lebanon Trotting Club Inc. and Miami Valley Trotting Inc.

Miami Valley Gaming and Racing New Facility Rendering
Rendering of new, world-class gaming and racing facility with up to 2,500 video lottery terminals. The closing on the purchase and recent state and local approvals pave the way for construction to begin on a new gaming and racing facility located near exit 29 off of Interstate 75 between Cincinnati and Dayton. The new facility is expected to open in the first quarter of 2014.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16414

The closing on the purchase and recent state and local approvals pave the way for construction to begin on a new gaming and racing facility located near exit 29 off of Interstate 75 between Cincinnati and Dayton. The new facility is expected to open in the first quarter of 2014.

"We are pleased to be moving forward with this significant economic development project that is expected to add $24 million a year to the local economy and create 1,000 construction jobs and 700 permanent jobs in southwestern Ohio," said William Bissett, President of Delaware North Companies Gaming & Entertainment.

Bill Carstanjen, CDI's President and Chief Operating Officer, added, "We appreciate the hard work of everyone involved, including the Ohio State Racing Commission and the Ohio Lottery Commission, to complete the necessary steps for us to build this new, world-class gaming and racing facility that we expect will be another great entertainment destination in Ohio."

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