Churchill Downs Incorporated (CDI) has confirmed the acquisition of a site in eastern Daviess County, Kentucky, for the construction of a previously announced historical horse racing machine (HHR) entertainment venue. The new facility will serve as an annex of the Ellis Park racetrack and provide support for purse funding during race meets.
In a statement, CDI said it will provide updated development and investment plans, as well as the location of the property, “in the coming months.”
CDI’s acquisition of Ellis Park in 2022 marked a new investment for the Kentucky Derby operator in the horse racing industry. The company plans to allocate approximately $75 million toward revitalizing the aging racetrack and developing the future gaming and simulcasting center in Owensboro. The move would follow the successful redevelopment of Turfway Park in 2019 into an updated racing and gaming facility.
The facility, which recently reopened, has proven to be a hub for horse racing enthusiasts and gaming enthusiasts alike. CDI has also witnessed success with its Churchill Downs-affiliated Derby City Gaming in Louisville, which features HHR machines.
Beyond the borders of Kentucky, CDI has also been further expanding its presence in the horse racing and gaming landscape. Among those efforts, the company has entered into agreements to acquire Colonial Downs in Virginia, a venue that also boasts HHR machines.
Following the opening of its new racing and HHR facility, the purses at Turfway Park experienced a remarkable 81% increase, reaching $19.7 million with an average daily purse of $346,458. Ellis Park also witnessed positive growth, with average daily purses rising by 22% to $412,292. However, the overall gross purses for Ellis Park declined by 6% to $9.4 million due to a shortened meet in 2022.
Original article: https://www.yogonet.com/international/news/2023/06/21/67605-kentucky-churchill-downs-secures-site-for-historical-horse-racing-venue-in-daviess-county
