Officials at Churchill Downs Incorporated (CDI) announced Tuesday that it will invest approximately $60 million towards the construction of a modern historical racing machine (HRM) facility at Churchill Downs' former Trackside location at 4520 Poplar Level Road. A request submitted by CDI to the Kentucky Horse Racing Commission (KHRC) to offer exotic wagering on historical racing was given conditional approval by the KHRC at a meeting held Tuesday at the track.
“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,” Churchill Downs Racetrack President Kevin Flanery said. “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. Stronger horse racing means a stronger Kentucky.”
Plans call for the 85,000 square-foot facility to house two quick-service, walk-up food vendors and a bar for 50 patrons. The facility is set to offer 600 historical racing machines and a player's club reward center.
Officials at CDI estimate that 450 new jobs will be created to bolster the local economy, including 250 jobs in construction. Some 2000 new full- and part-time opportunities will be created to operate and manage the facility. There will also be hourly and salaried employees in the areas of operations, marketing, finance, food and beverage, maintenance, information technology, human resources, security and administration. CDI plans to stage job fairs at Trackside. Recently, CDI also announced the relocation of its TwinSpires.com business from Silicon Valley, California, to Louisville, creating 70 high-tech, high-paying jobs for the city.
Wagering on historical racing, in which bettors attempt to handicap previously run races, has boosted revenue at other Kentucky racetracks, including the Red Mile and Kentucky Downs. According to the Lexington Herald-Leader, more than $88 million was wagered on 1,274 historical machines currently in service in the Commonwealth during the month of May. For the current fiscal year, nearly $839 million had been wagered, an increase of 44.5% over the previous fiscal year, the Herald-Leader reported.
Kentucky Downs in Franklin was the first to install the machines in 2011 and have handled close to $2 billion. In 2017, Kentucky Downs will offer a record $8.4 million–an average of $1.68 million per day–over the course of its five-day, all-turf meeting Sept. 2 through Sept. 14.
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