Churchill Downs Preparing New Gaming Property in Kentucky
LISTEN TO THIS ARTICLE:Churchill Downs Incorporated (CDI) has announced that it is closing in on the opening of its latest gaming property, Owensboro Racing & Gaming, in Kentucky. This will be CDI's seventh historical horse racing (HHR) venue in Kentucky, and it is expected to cost around $100 million to develop.
Kentucky Gaming Expands Rapidly
Owensboro will serve as an extension of CDI's Ellis Park Racing & Gaming (Ellis Park) and will help raise funds to cover the purse of Ellis Park's summer racing events. It will feature 600 innovative historical horse racing machines (HRMs), simulcast wagering, a retail sportsbook, and various F&B options.
Related: Churchill Downs Given Licenses to Operate Sports Betting in KentuckyThe property will occupy approximately 20 acres just outside the eastern edge of Owensboro. The economic impact of Owensboro is estimated to be significant, with an expected annual regional impact of $125 million. The project is also expected to create over 200 construction jobs and 150 permanent jobs, further boosting the local economy.
In addition to the economic benefits, Owensboro is expected to enhance the overall entertainment landscape in the region. This will provide visitors with a comprehensive entertainment experience, attracting both local residents and tourists to the area.
Huge Benefits to Horse Racing
Furthermore, Owensboro is expected to have a positive impact on the horse racing industry in Kentucky. By supporting purse funding for Ellis Park's traditional summer racing meet, it will contribute to the growth and sustainability of the state's horse racing circuit. This will benefit horse owners, trainers and jockeys, as well as the broader horse racing community in Kentucky.
Overall, the opening of Owensboro is anticipated to have a significant and positive impact on the local economy, the horse racing industry, and the overall entertainment landscape in Kentucky. With its state-of-the-art facilities and comprehensive entertainment offerings, the property is poised to become a premier destination for gaming and entertainment enthusiasts in the region.
This announcement comes as CDI continues to expand its footprint in the gaming and entertainment industry. It purchased HHR specialist Exacta last summer and followed that up with the launch of another gaming property in Kentucky that same month.
Owensboro Racing & Gaming should open sometime next year, most likely during the first quarter.
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