Churchill Downs Incorporated (CDI) is making strategic moves in New England with its acquisition of a majority stake in Casino Salem, a new charitable gaming venue in Salem, New Hampshire. The company aims to transform the site into a state-of-the-art regional gaming and entertainment hub, leveraging its proximity to downtown Boston.
The deal, signed with local entrepreneurs Joe Faro and Sal Lupoli, gives CDI operational control while retaining the founders as minority stakeholders. Both have emphasized their continued commitment to driving economic growth, creating jobs, and delivering a world-class experience for visitors.
Casino Salem opened its doors earlier this July with approximately 100 historical horse racing machines (HRMs) and 13 live table games. CDI now plans a complete revamp of the property: rebranding, gaming floor expansion, and enhanced food and beverage offerings are all on the table.
The acquisition complements CDI’s growing footprint in New Hampshire, adding to its existing operation at the Chasers Poker Room, also located in Salem. Financing for the deal will come from CDI’s current credit lines, pending approval from the New Hampshire Lottery Commission. Closing is expected by Q3 2025.
CDI’s CEO, Bill Carstanjen, described the move as a key part of the company’s growth strategy. He highlighted New Hampshire’s potential as a regional draw, while also supporting the broader mission of charitable gaming throughout the state.
For Salem, this development promises a significant economic boost. Located at The Mall at Rockingham Park—one of the area’s busiest retail zones—Casino Salem is poised to attract visitors from both Southern New Hampshire and neighboring Massachusetts. Analysts predict increased local tourism, more jobs, and higher foot traffic for nearby hotels, restaurants, and retailers.
While some gaming operators have scaled back, Churchill Downs is leaning into high-traffic, socially supported formats like charitable gaming. The company’s pivot suggests a keen understanding of regional markets and long-term sustainability.
