Bill Carstanjen | Horse Racing Free Tips

Churchill Downs To Sell Arlington Park, Pursue Relocation Of Racing License

Churchill Downs Incorporated announced Tuesday that it has launched a process to sell the 326 acres in Arlington Heights, Ill. that are currently the home of Arlington International Racecourse. CBRE will bring the redevelopment opportunity to market on behalf of CDI.

CDI is committed to running Arlington's 2021 race dates from April 30 – Sept. 25, and does not expect any sale of the Arlington site to close prior to the conclusion of Arlington's 2021 race meet or that the conduct of the sale process will impact Arlington's racing operations this year.

“Arlington's ideal location in Chicago's northwest suburbs, together with direct access to downtown Chicago via an on-site Metra rail station, presents a unique redevelopment opportunity. We expect to see robust interest in the site and look forward to working with potential buyers, in collaboration with the Village of Arlington Heights, to transition this storied location to its next phase,” said Bill Carstanjen, CEO of CDI.

“In the meantime, we are very committed to pursuing the relocation of Arlington's racing license to another community in the Chicagoland area or elsewhere in the state. We are exploring potential options with the State and other constituents and remain optimistic that we can find solutions that work for the State, local communities and the thousands of Illinoisans who make their living directly or indirectly from thoroughbred horse racing. We are committed to the Illinois thoroughbred racing industry and will consider all options in working toward opportunities for it to continue into the future.”

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Churchill President Kevin Flanery To Retire At Year’s End

Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced WednesdayKe that after 11 years at the helm of the world's most legendary racetrack, T. Kevin Flanery has decided to retire as President of Churchill Downs Racetrack at the end of 2020.

Flanery's 15-year tenure at CDI began in December 2005 as vice president of national public affairs. He was named senior vice president of national public affairs and communications in March 2008 before being named the 13th President of Churchill Downs Racetrack and a Senior Vice President of CDI in July 2009.

As President of Churchill Downs Racetrack, Flanery led a number of significant capital investments that greatly improved the live racing experience including permanent track lighting and the Big Board. He also spearheaded major expansion projects including the Paddock Plaza, The Mansion, the Starting Gate Suites and Rooftop Lounge, the Colonnade, the new Infield Gate and, most recently in 2020, the completion of the equine medical center and Matt Winn's Steakhouse.

“Kevin has been a pivotal leader in the growth and evolution of Churchill Downs,” said Bill Carstanjen, CEO of CDI, “not only at the racetrack, but across the Company. His focus on bold capital investments and unmatched fan experiences has had a direct and enduring impact on the success of the Kentucky Derby and his leadership has navigated Churchill Downs Racetrack through many unexpected challenges, not the least of which has been the unforeseen circumstances of 2020. Having worked side by side with Kevin over the last 15 years, I offer sincere gratitude for his friendship and his leadership and we wish him all the best in his retirement. His has been an important and impactful chapter in the history of Churchill Downs Racetrack.”

“It has been an honor to work with a team that constantly strives to protect the legacy of the Kentucky Derby while creating experiences that resonate in our modern world. The ability of my Churchill Downs team to listen to our fans and our horsemen has informed every move we have made to enrich the Kentucky Derby for future generations,” said Flanery. “Having grown up in the area surrounding Churchill Downs Racetrack, I have a deep appreciation for what this place means to so many in our industry and our community. I will forever be grateful to the horsemen, the community and our guests who allowed me the opportunity to impact the rich and vibrant history of Churchill Downs and the unique culture of the neighborhood. I look forward to spending more time with my family and grandchildren and visiting colleagues and friends at Churchill Downs as a fan.”

Flanery came to Churchill Downs following a number of key positions in government and private business, including secretary of the Kentucky Finance and Administration Cabinet, deputy secretary of the Kentucky Transportation Cabinet and president of Hagan Properties.

CDI will immediately begin the search to fill the role of President of Churchill Downs Racetrack. Bill Mudd, President and Chief Operating Officer of CDI, will act as interim President of Churchill Downs Racetrack until a successor is named.

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2021 Kentucky Derby: Churchill Hoping For 40-50 Percent Fan Capacity

Churchill Downs is hoping to welcome fans at as high as 50 percent capacity at the 2021 Kentucky Derby, CEO Bill Carstanjen told investors on Thursday's third-quarter earnings call. According to the Courier-Journal, Churchill's regular capacity is 165,000 people, so there could be as many as 82,500 fans at the Run for the Roses.

“We are starting with the assumption that we will limit the number of reserved seats to 40 to 50 percent of capacity, and we will delay selling any general admission tickets … until we are closer to the date of the Derby,” Carstanjen said.

Carstanjen added that he expects the company to retain the first Saturday in May date for the 2021 Kentucky Derby.

Churchill Pauses Turfway Construction Due To Kentucky Supreme Court’s Historical Racing Decision

On a Thursday's third-quarter earnings call with investors, Churchill Downs Inc. CEO Bill Carstanjen announced that the company's construction of a new grandstand and historical racing facility at Turfway Park will be paused, reports the Thoroughbred Daily News. The announcement follows the Sept. 24 news of the Kentucky Supreme Court decision that the Encore brand of historical racing machine does not constitute legal pari-mutuel wagering.

“Regarding the Turfway Park HRM and grandstand project, we have temporarily paused the construction of this facility,” Carstanjen said. “In late September, the Kentucky Supreme Court issued a decision concerning the legality of the company called Exacta HRMs under Kentucky law. While we do not have any Exacta HRMs at any of our facilities, and therefore are not directly impacted by the Kentucky Supreme Court ruling, we feel it is prudent to refrain from further significant capital investment until the Kentucky legislature has an opportunity to review the decision and the technicalities in the current law during the legislative session starting in early 2021.”

Also on hold are a hotel and historical racing facility at Churchill Downs, though Carstanjen attributed that delay to the COVID-19 pandemic.

Both the Kentucky Horse Racing Commission and Keeneland have petitioned the Kentucky Supreme Court for a rehearing.

Read more at the Thoroughbred Daily News.

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