LOUISVILLE, Ky., June 20, 2017 (GLOBE NEWSWIRE) — Churchill Downs Incorporated (NASDAQ:CHDN) (“CDI”) announced today it is investing approximately $60 million to construct a state-of-the-art historical racing machine (“HRM”) facility in Louisville. The 85,000-square-foot facility will be built at 4520 Poplar Level Road—Churchill Downs’ former Trackside (also known as the former Sports Spectrum) site, and conveniently located less than half a mile from the Poplar Level Road exit off the Henry Watterson Expressway (I-264). CDI’s request to offer exotic wagering on historical racing was conditionally approved by the Kentucky Horse Racing Commission this afternoon.
“A state-of-the-art historic racing facility will allow us to deliver an exciting and compelling pari-mutuel product for our customers in Louisville. This is a great opportunity for us to revitalize another area of our city while strengthening the Commonwealth’s equine industry through larger purses and greater incentives for Kentucky breeders and owners,” Churchill Downs Racetrack President Kevin Flanery said. “Stronger horse racing means a stronger Kentucky.”
The company says the facility will create 450 new jobs for the local economy, including 250 construction jobs. An estimated 200 new full- and part-time jobs will be created to operate and manage the facility. Churchill Downs will hire both hourly and salaried employees in areas including operations, marketing, finance, food and beverage, maintenance, information technology, human resources, security and administration. Job fairs will be held at Trackside for the neighborhoods surrounding the facility and the Churchill Downs Racetrack.
This announcement comes on the heels of CDI’s decision to relocate its TwinSpires.com business to Louisville from Silicon Valley, California, creating more than 70 high-tech, high-paying jobs for the city.
The planned facility will house two quick-service, walk-up food venues, as well as a bar with seating for 50 and large format televisions for guests to take in all the best sporting action year-round. The facility will open with 600 historical racing machines and a player’s club reward center offering special perks and benefits, including an exclusive parking area for loyal guests.
Construction is slated to begin later this year, and CDI hopes to open the facility by summer of 2018.
About Churchill Downs Incorporated
Churchill Downs Incorporated (NASDAQ:CHDN) (“CDI”), headquartered in Louisville, Ky., is an industry-leading racing, gaming and online entertainment company anchored by our iconic flagship event—The Kentucky Derby. We are a leader in brick-and-mortar casino gaming with gaming positions in eight states, and we are the largest legal mobile betting platform for horseracing in the U.S., through our ownership of TwinSpires.com. We are also one of the world’s largest producers and distributors of mobile games through Big Fish Games, Inc. Additional information about CDI can be found online at www.churchilldownsincorporated.com.
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