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Churchill Announces Proposal For New Casino In Indiana

Churchill Downs Incorporated announced Wednesday that it has submitted a proposal to develop the Queen of Terre Haute Casino Resort, a destination gaming facility in Vigo County, Indiana. CDI has also filed an application to the Indiana Gaming Commission (“IGC”) seeking Indiana's open casino license for Vigo County.

“Churchill Downs has a 147-year track record of offering extraordinary entertainment experiences and has significant expertise developing premier casino and gaming properties throughout the United States,” said Bill Carstanjen, Chief Executive Officer of CDI. “We are proud to offer our vision for this world-class casino, a true destination resort designed to draw visitors and economic activity from across the Midwest to Terre Haute.”

The Queen of Terre Haute will feature up to 1,000 slot machines, 50 table games, a 125-room luxury hotel, a state-of-the-art TwinSpires sportsbook and several food & beverage offerings. From its name (inspired by Terre Haute's nickname as the “Queen City of the Wabash Valley”) to concepts and design features across the facility, the Queen of Terre Haute will reflect the unique heritage of Vigo County and the surrounding region.

“We appreciate the local encouragement we've received as we've evaluated this opportunity,” said Carstanjen. “In the days ahead, we look forward to making our case to the Indiana Gaming Commission as to why our proposal to build the Queen of Terre Haute is in the best interest of the residents and businesses of Terre Haute, Vigo County and the State of Indiana.”

An economic impact study conducted by economists at Purdue University estimates that the Queen of Terre Haute will generate $190 million in annual regional economic impact, including 1,000 construction jobs and 500 permanent jobs. According to the study, the project is expected to deliver a 2 percent annual increase in the West Central Indiana gross regional product.

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Historical Horse Racing Trends: Proposed Additional Machines Could Earn CDI $3.4 Billion Per Year

Historical horse racing (HHR) machines have made a strong contribution to the horse racing industry in several states over the last five years or so, thanks to the fact that HHR revenues have been used by various racetracks to supplement purses for races.

In Kentucky, HHR machines have recently been classified by the legislature as a form of pari-mutuel wagering after a court ruling questioned their legitimacy from a state constitutional perspective. The reclassification allows HHR machines to continue to operate and racetracks and gaming centers across the state plan to expand the number of machines.

Using Kentucky Horse Racing Commission reports of monthly revenues from 2016 to 2021, the graph below shows the trend in the contributions in gross revenues – or handle – per month for all HHR machines in the state. The upward-sloping trend line reflects gross revenues per day per machine.

According to this data, each machine contributes an average of $143,000 per month to total gross revenues. Payouts to customers usually are at least 90 percent of gross revenues, leaving $14,300 profit per machine per month.

With the low labor and maintenance costs that accompany HHR machines, it is easy to see why racetracks and gaming centers in the state want to add more of these machines.

According to recent press reports, Turfway Park in Florence, Ky., and Derby City Gaming in Louisville plan to add approximately 2,000 machines combined over the next several years. According to the information above and holding all else constant, such machines could earn Churchill Downs (the owner of Turfway Park and Derby City Gaming) around $286 million more per month or $3.4 billion per year. At a tax rate of 1.5 percent, this increase could produce around $51 million in tax revenues for the commonwealth per year.

All data is adjusted for and accounts for reduced operating hours in 2020 due to COVID-19 restrictions and precautions.

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Arlington: Former President’s Racing Preservation Bid Reported To Be One Of Three Finalists

Mike Campbell, president of the Illinois Thoroughbred Horsemen's Association, told the Chicago Daily-Herald that former Arlington president Roy Arnold's bid to purchase the iconic racetrack from Churchill Downs is one of three finalists under consideration. He added that the Chicago Bears and another group seeking to preserve racing are the other two finalists, but Churchill Downs has not confirmed the information.

Campbell helped organize the consortium led by Arnold, and revealed that there have been three rounds of bidding since Churchill's initial June 15 deadline. Arnold has increased his offer several times, Campbell said.

“They have the ability to close immediately, which nobody else does. And they have a plan for the future of racing in Illinois that I think is just remarkable,” Campbell said during the ITHA's annual general membership meeting, held virtually on Saturday. “We think it's nice now. Just wait. If we can get Churchill Downs to say yes, you will have a world-class venue for horse racing like no other.”

Read more at the Chicago Daily-Herald.

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CDI Releases Statement About Arlington Press Box Incident

Two and a half weeks after it occurred, Churchill Downs, Inc. has finally released a statement about the press box debacle at Arlington Park on the eve of the track's annual feature race, the $600,000 Mister D. Stakes, reports the Chicago Daily Herald.

Arlington president Tony Petrillo, buoyed by members of the security staff, cleared out the press box less than two hours after the feature race, while writers and photographers were trying to finish their assignments and send their stories and pictures to their respective publications. Petrillo even told one photographer, who happened to be on assignment for a Churchill Downs Inc. subsidiary, that she was “banned for life” from Arlington Park.

CDI's statement blames the incident on an unspecified issue of “safety” and a “miscommunication,” but media members present at the time call that excuse “disingenuous.”

Tonya Abeln, a media relations spokesperson on the staff of CDI CEO Bill Carstanjen, sent the following statement to the Daily Herald:

“Following the running of the Mr. D. at Arlington Park, we are aware that there was behavior in the press box that was in direct violation of our Media Guidelines. The Media Guidelines ensure safe and responsible operations and help maintain decorum for all journalists to complete their job in a healthy, safe and respectful environment.

“Because this behavior compromised the safety of track personnel, a security team was dispatched to de-escalate the interaction. Part of the planned response was to reduce the number of people in the immediate area.

“During this fluid situation, in the early moments, the goal to have all credentialed media relocated to an alternative location at the track to finish their work was clearly miscommunicated. We regret this incident impacted several journalists' work, even as we appreciate that the security team did what they felt was in the best interest of safety for those in the room.

“We share with Mr. Petrillo a deep admiration and appreciation for the work of journalists who chronicle, document and transfer the excitement of horse racing through their talents. This isolated incident is not a reflection of the values we place on that work and the relationships we share with those professionals.”

Read more at the Chicago Daily Herald.

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