Following the 2022 announcement, the American gaming and entertainment giant Churchill Downs Incorporated (CDI) revealed earlier today that the Company will open its Owensboro Racing & Gaming facility in Owensboro in the first quarter of 2025. CDI reportedly detailed that the facility will include 600 state-of-the-art historical racing machines and a retail sportsbook, as well as a simulcast wagering center and a range of catering amenities.
Seventh HHR Venue in Kentucky:
CDI, the Louisville-headquartered pioneering entertainment provider running the iconic Kentucky Derby for nearly 150 years, has expanded ever since through the development of live and historical racing entertainment venues. The Company will now add the new property in eastern Daviess County as the seventh historical horse racing entertainment (HHR) venue in the state of Kentucky. According to the press release, Owensboro Racing & Gaming facility will be located on an approximately 20-acre site at the corner of US Highway 60 and Wrights Landing Road east of the City of Owensboro, Kentucky.
The Owensboro Racing & Gaming development project will reportedly be worth $100 million to exceed the 2022 estimate by $25 million. Once completed, the property will reportedly operate as a part of Ellis Park Racing & Gaming facility to additionally fund Ellis Park’s traditional racing events held in summer. This is in line with the company’s announcement made in September 2022. As reported, Bill Carstanjen, Chief Executive Officer of CDI said on the occasion that the Company would continue to bring top American horseracing talent to the Bluegrass State each racing season.
$125m in Annual Revenue Expected:
Past estimates and prospects have evolved into current announcements. In today’s press release, Carstanjen said: “We are proud to announce this investment in the Kentucky horse racing industry as we celebrate 150 years of the Kentucky Derby. In addition to delivering a premier gaming and entertainment experience to Daviess County, this project will build on the success of Ellis Park’s racing product and further contribute to a healthy and sustainable horse racing circuit in Kentucky.”
As reported, CDI estimates that Owensboro Racing & Gaming will generate $125 million in annual revenues to bring benefits to regional economy and local community. The development project will reportedly generate more than 200 construction jobs, while the project completion will see 150 permanent job vacancies for local community.
According to a source, CDI simultaneously announced another project. The Company reportedly plans to launch the $460 million Rose Gaming Resort project in Dumfries, Virginia in September 2024. The resort will feature a 102-room hotel and a gaming floor with 1,650 historical horse racing machines, as well as a wide range of food and beverage outlets to extend CDI’s portfolio of gaming properties. The Owensboro Racing & Gaming property is expected to launch in the first quarter of 2025.
As soon as the racing and gaming operations kick off near the City of Owensboro, CDI will have seven historical horse racing entertainment venues in Kentucky, seemingly more than enough to maintain its leading position in the gaming and entertainment industry of the Bluegrass State.
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