The second-oldest racetrack in Kentucky behind Churchill Downs is in the process of switching ownership and making changes. Ellis Entertainment, a New Mexico-based company, recently purchased Ellis Park Racetrack in Henderson, Kentucky for $11 million.

On Tuesday, the Kentucky Horse Racing Commission issued a racing license to Ellis Entertainment. The transfer of ownership is scheduled to be completed within the next several days.

“We are both honored and excited for the opportunity to purchase Ellis Park, one of Kentucky’s oldest and most revered racetracks,” Kevin Greer, Ellis Entertainment Managing Partner, stated. “We appreciate the knowledge and support the Kentucky Horse Racing Commission has provided us while we prepare to restore Ellis Park to its rightful place as one of the Bluegrass State’s premier racing facilities.”

The historic racetrack, built in 1922, is currently owned by the Saratoga Casino and Hospitality Group out of Saratoga Springs, New York. Saratoga will operate the racetrack and serve as managers and operators through the 2019 racing season, which lasts from June 30 until Labor Day.

"We remain committed to the upcoming racing season at Ellis Park and ensuring that it is one of the most successful the property has seen in years,” said Daniel Gerrity, President of Saratoga Casino & Hospitality Group. “We look forward to working closely with Ellis Entertainment in the coming months to ensure a seamless transition of ownership."

In addition to the $11 million purchase price, Ellis Entertainment plans to invest another $55 million to expand the Historical Horse Racing (HHR) facility, update food and beverage options, refurbish the grandstands and barns, and upgrade public facilities, maintenance, and back-of-house operations.

“We look forward to being productive and engaged members of the local business community,” Greer added.