Churchill Downs to draw on revolver for purchase of Harlow's Casino

By Sara Rosenberg

New York, Sept. 13 - Churchill Downs Inc. plans to use borrowings under its revolving credit facility, along with cash on hand, to fund the $138 million acquisition of Harlow's Casino Resort & Hotel in Greenville, Miss., according to a news release.

Harlow's is currently owned by affiliates of private investment groups Levine Leichtman Capital Partners Inc. and Oak Hill Advisors LP, and private investor, Jess M. Ravich.

Closing is expected to occur in the next three to six months, subject to receipt of all required regulatory approvals.

Churchill Downs is a Louisville, Ky.-based owner and operator of Thoroughbred racing facilities.

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