Churchill Downs Inc. (NasdaqGS:CHDN) and Saratoga Casino and Raceway, Inc. entered into definitive agreement to acquire Ocean Enterprise 589 LLC, Ocean Downs LLC and Racing Services LLC from a private ownership group led by William M. Rickman, Jr. on August 2, 2016. William M. Rickman, Jr. has agreed to remain as a senior advisor to the new owners in his capacity as Executive Vice President of Maryland Gaming LLC. Government Relations Director, Denise Hill and General Manager, Joseph Cavilla will also continue in their respective roles post-closing. The deal is subject to the satisfaction or waiver of specified closing conditions, including, without limitation, the approval of all relevant governmental authorities, including the Maryland Lottery and Gaming Control Agency and Maryland Racing Commission, and receipt of all necessary licenses and permits for Buyer to operate the Companies. The transaction is expected to close later in 2016. Churchill Downs Inc. (NasdaqGS:CHDN) and Saratoga Casino and Raceway, Inc. completed the acquisition of Ocean Enterprise 589 LLC, Ocean Downs LLC and Racing Services LLC from a private ownership group led by William M. Rickman, Jr. on January 3, 2017.