Keeneland Association and The Red Mile have announced a joint venture to develop a single facility to bring historical racing to Fayette County. Under the venture, historical racing–which offers wagering on a library of previously held races–will be held exclusively at The Red Mile, with a proposed 1,000 terminals and a projected opening date of September 2015.
“There have always been two driving considerations behind decisions made by Keeneland,” Keeneland Association Chief Operating Officer Vince Gabbert said in a statement released by the two organizations Wednesday. “And that is the health of the Thoroughbred industry and our local community. We feel the best course of action for both our key constituencies is a facility at The Red Mile. Our belief is
that the benefits of a more centrally located and fully dedicated facility outweighs locating this wagering option on our property.”
The Red Mile's Joe Costa said,“This is an exciting announcement for the Horse Capital of the World and for the ongoing growth of Lexington. By making this pari-mutuel wager available in Fayette County, our state's signature industry can enjoy the financial benefits of a crucial new revenue stream for not just owners and breeders, but also the entire horse industry. Revenues from the historical wagers will be split between the two organizations to support live racing. Construction on the $30-million project is expected to start soon.
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