Casino Salem, recently launched in New Hampshire, has been acquired by Churchill Downs.
Churchill Downs Incorporated (CDI) has announced definitive agreements to acquire a majority stake in Casino Salem, located in Salem, New Hampshire, which is about 30 minutes from downtown Boston. This acquisition marks a significant expansion for CDI into the New England market.
The project is set to develop a charitable gaming, entertainment, and dining destination featuring historical horse racing machines (HRMs) alongside existing live table games. The initial phase of Casino Salem opened on July 9, 2025, with approximately 100 HRMs and 13 live table games already operational.
CDI plans to rebrand the venue, expand the gaming floor, and introduce several food and beverage concepts over the coming months as part of the future phases of construction. Prominent local developers Joe Faro and Sal Lupoli will remain part-owners and involved in the project, ensuring local expertise guides the venue's development and success.
This acquisition allows CDI to establish a regional destination designed to attract patrons from across the growing New England market, leveraging Salem’s proximity to Boston. The move positions Churchill Downs to tap into New Hampshire’s favorable gaming environment and expand its footprint beyond traditional horse racing, growing its charitable gaming and entertainment operations.
The project is expected to generate economic stimulus, job creation, and increased tourism in the local area, according to statements from both CDI leadership and local developers. Churchill Downs will continue operating its separate Chasers Poker Room in Salem independently of the Casino Salem project.
The duo, Faro and Lupoli, are committed to driving economic stimulus, creating new jobs, and increasing tourism with their vision for Salem. They express excitement about the opportunity to build an expanded, state-of-the-art gaming-and-entertainment facility in Salem, New Hampshire. The duo, along with Churchill Downs, aims to create lasting benefits for the community for decades.
In addition, the acquisition adds 100 historical horse racing machines and 13 table games to Churchill Downs's portfolio. Churchill Downs is viewed by Faro and Lupoli as one of the country's preeminent gaming and entertainment operators.
The transaction was financed by Churchill Downs using its existing line of credit, and no price was announced for the acquisition. Sal Lupoli and Joe Faro, the original owners of Casino Salem, will continue to hold a stake in the casino. The acquisition is expected to close in the third quarter, pending regulatory approval.
The duo is also looking forward to supporting charitable organizations throughout New Hampshire. With this acquisition, Churchill Downs continues its growth trajectory, expanding its reach into the New England market and strengthening its position as a leading gaming and entertainment operator.
- The acquisition of Casino Salem by Churchill Downs Incorporated (CDI) will allow the company to develop a charitable gaming, entertainment, and dining destination featuring historical horse racing machines, casino games, and potentially lotteries, expanding its footprint beyond traditional horse racing and growing its charitable gaming and entertainment operations.
- CDI's acquisition of Casino Salem, along with Joseph Faro and Sal Lupoli's vision for Salem, will create an expanded, state-of-the-art gaming-and-entertainment facility in Las Vegas-style, offering not only historical horse racing machines and live table games but also introducing new food and beverage concepts, thereby contributing to the local economy, job creation, and increased tourism.
