The deal has been finalized and Ellis Park now has a new owner in New Mexico-based Laguna Development Corporation.

According to Eyewitness News/WEHT, Laguna purchased Ellis for $11 million and will soon begin work on upgrades.

The exciting new developments at Ellis Park will begin with maintenance and facility improvements.

Over the next couple of years, fans will see an increase in the number of Historical Horse Racing Machines from 300 to 1,200.

The $60 million allocated for Ellis Park upgrades will also include a widening of the turf course and the addition of lights for night racing.

I cannot wait for that last part.

But wait, there's more.

The casino facility will expand, as well.

Here's the Twitter post from Daily Race Form's Matt Hegarty about the sale and the upgrades:

Welcome to Kentucky, Laguna Development Corporation. Ellis Park is an vitally  important source of entertainment and revenue in the tri-state. Plus, the history of the venerable facility sort of CALLS for this kind of improvement.

This is exciting!