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CDI To Open Six Race And Sports Books At Kentucky Properties Sept. 7

The Kentucky Horse Racing Commission (KHRC) has approved temporary licenses for six Churchill Downs Inc. (CDI) properties to begin accepting in-person sports wagers on Thursday, Sept. 7, the company said via a release Wednesday morning.

CDI will operate Race and Sports Books at its racetracks and Historical Racing Machine (HRM) facilities in Kentucky which include:

Churchill Downs Racetrack: 15 sports betting kiosks, 168 sq. ft. video screen, 20 large format televisions;
Derby City Gaming & Hotel: 15 sports betting kiosks, 300 sq. ft. video screen, 12 large format televisions;
Ellis Park Racing & Gaming: 5 sports betting kiosks;
Newport Racing & Gaming: 10 sports betting kiosks, 20 large format televisions;
Oak Grove Racing, Gaming & Hotel: 20 sports betting kiosks, 300 sq. ft. video screen, 8 large format televisions;
Turfway Park Racing & Gaming: 15 sports betting kiosks, 300 sq. ft. video screen, 16 large format televisions.

CDI's new sports betting kiosks will be located among existing bar and simulcast areas for guests to place wagers. Each of CDI's HRM venues will implement a “Bet & Jet” feature that offers guests designated parking spaces for 15 minutes in order to quickly and easily place their in-person sports wager.

“CDI is excited to bring our experience operating retail sports wagering experiences to Kentucky with many thanks to the Kentucky General Assembly, Governor Beshear, the KHRC and the Kentucky Public Protection Cabinet for their efforts in making this a reality,” said Bill Carstanjen, CEO of CDI,”

In addition to retail sports betting, the KHRC also approved temporary licenses for three online sports wagering service providers that will operate in partnership with CDI's racetracks: FanDuel, Penn Sports Interactive and Fanatics. Approved service providers can begin accepting online wagers on Thursday, Sept. 28.

The post CDI To Open Six Race And Sports Books At Kentucky Properties Sept. 7 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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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.

The post Historical Horse Racing Trends: Proposed Additional Machines Could Earn CDI $3.4 Billion Per Year appeared first on Horse Racing News | Paulick Report.

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Churchill Downs Unveils Renovation Plans

Churchill Downs has unveiled plans for three capital investments to the historic Louisville track, beginning with the Homestretch Club for Kentucky Derby 2022 and culminating with a Paddock area redesign for the 150th running of the Kentucky Derby in 2024.

The Homestretch Club will renovate and update the grandstand area adjacent to the Twin Spires along the track's homestretch. The project will convert what is currently outdoor bleacher seating next to the Winner's Circle Suites and below the Jockey Club Suites into three unique seating options with all-inclusive amenities. Ticketed guests in the Homestretch Club will have access to 18,600 sq. ft. of new interior premium hospitality space in the first-floor concourse area.

In total, the $45-million project will provide for 3,250 all-inclusive seats, which is 1,950 fewer reserved seats than were previously in this area. It is expected to be completed by the 2022 Derby.

The Turn 1 Experience will introduce permanent all-inclusive stadium seats at Churchill Downs in a unique location with exclusive views of the Kentucky Derby walkover and the picturesque first turn framed by the Twin Spires. The project will upgrade and expand what is currently 3,400 temporary Oaks and Derby seats to 5,100 all-inclusive permanent stadium seats with significantly improved amenities designed to enhance the overall guest experience. The permanent construction will also add a climate-controlled hospitality venue below the new stadium seats that will serve as premium seating for up to 2,000 guests.

In total, the project will provide for 7,100 all-inclusive seats, which is 3,700 more reserved seats than were previously in this area. The $90-million Turn 1 Experience is scheduled for completion in time for the 2023 Derby.

The final project, the Paddock Area Redesign, is still in the early design stage, with plans to introduce new and innovative seating and experiences.

“We have so much to anticipate as we look toward the 150th Kentucky Derby in 2024,” said Mike Anderson, president of Churchill Downs Racetrack. “We've listened to our customers' feedback over the years and the response to those demands can be seen in these upcoming capital projects. The design of each will blend 147 years of tradition with an updated atmosphere that celebrates our storied past and ushers in a spectacular future for Churchill Downs.”

Also Wednesday, Churchill Downs Incorporated announced a $76-million expansion at its Louisville gaming facility, Derby City Gaming, that includes construction of a hotel, additional gaming positions and expansion of the current amenities.

“Derby City Gaming continues to exceed the company's expectations,” said Bill Carstanjen, CEO of CDI. “The expansion of this premier gaming property is intended to create an elevated experience for our guests that is inclusive of all their hospitality needs and is anticipated to fuel ongoing growth in purse contributions for Churchill Downs Racetrack.”

Construction on the project is scheduled to begin in early 2022 pending rezoning review and approval by the City of Louisville. The expanded gaming floor is targeted to open in late 2022 and the hotel is expected to open in the spring of 2023.

The post Churchill Downs Unveils Renovation Plans appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Churchill Boosts Purses By $3.1 Million Thanks To Derby City Gaming

Before the first race is run Saturday on Opening Night of the 38-day Spring Meet, Churchill Downs Racetrack has announced that purses will be raised an additional $3.1 million thanks to robust business from state-of-the-art historical racing machines at Derby City Gaming.

Total purses offered in the first condition book for horsemen, which covers 190 races over 19 dates through Thursday, May 27, have grown to $22,822,100 for a daily average of $1,201,163. That represents a 5.9% percent increase from the previously published $21,544,000.

Maiden special weight races are now worth $115,000 during Kentucky Derby Week and $100,000 post-Derby, which is up from the previously published $106,000 and $91,000, respectively. Kentucky Derby Week allowance races will range from $118,000 to $125,000 and $102,000 to $109,000 after Derby. They were $109,000 to $116,000 and $93,000 to $100,000, respectively.

Additionally, the purses for 25 stakes races were boosted. A trio of stakes received $50,000 increases: the $150,000 Audubon for 3-year-olds at 1 1/8 miles on turf on May 29; Grade 2, $300,000 Fleur de Lis for fillies and mares at 1 1/8 miles on June 26; and Grade 2, $300,000 Wise Dan for 4-year-olds and up at 1 1/16 miles on turf on June 26. Fourteen stakes originally worth $125,000 were boosted $25,000 to $150,000 and eight overnight stakes races received $10,000 increases.

The 40-race Spring Meet stakes schedule now totals $14.02 million.

The growth has been driven by handle on historical racing machines at Derby City Gaming, which is located at 4520 Poplar Level Road.

“Over the last 10 years, historical horse racing has allowed our equine industry to flourish, increasing purses and creating a more competitive racing circuit,” said Churchill Downs Racetrack President Mike Anderson. “It has led to new jobs, economic growth and tourism.

“Despite the challenges of the last year, we have a bright future ahead – one of growth, innovation, new jobs and development. Recently we opened our $8 million Equine Medical Center and Quarantine Facility. This summer, we're investing $10 million to install a new turf course to improve the overall racing product. In northern Kentucky, our sister track Turfway Park saw handle grow 32.9% after we installed a new Tapeta surface, and recently we broke ground on a $145 million state-of-the-art Thoroughbred and historical horse racing venue. All of this will strengthen and bring innovation to our equine industry and ensure Kentucky remains the horse capital of the world.”

Churchill Downs Stakes Schedule

Date	Running	Grade	Purse	Race	Conditions	Distance	Surface
Saturday, April 24	6^th	Listed	$150,000	William Walker	3yo	5 ½ F	Turf
Tuesday, April 27	3^rd		$130,000	Isaac Murphy Marathon Overnight Stakes presented by Thoroughbred Aftercare Alliance	4&up	1 ½ M	Dirt
Wednesday, April 28	27^th		$150,000	Kentucky Juvenile	2yo	5 F	Dirt
Thursday, April 29	11^th		$150,000	Unbridled Sidney	3&up, f&m	5 ½ F	Turf
Thursday, April 29	16^th		$130,000	Opening Verse Overnight Stakes	4&up	1 M	Turf
Friday, April 30	147^th	I	$1,250,000	Longines Kentucky Oaks	3yo f	1 1/8 M	Dirt
Friday, April 30	36^th	I	$500,000	La Troienne presented by TwinSpires.com	4&up, f&m	1 1/16 M	Dirt
Friday, April 30	18^th	II	$400,000	Alysheba presented by Sentient Jet	4&up	1 1/16 M	Dirt
Friday, April 30	66^th	II	$300,000	Eight Belles presented by Smithfield	3yo f	7 F	Dirt
Friday, April 30	37^th	II	$300,000	Edgewood presented by Newport Racing & Gaming	3yo f	1 1/16 M	Turf
Friday, April 30	27^th	II	$250,000	Twin Spires Turf Sprint presented by Sysco	3&up	5 ½ F	Turf
Saturday, May 1	147^th	I	$3,000,000	Kentucky Derby presented by Woodford Reserve	3yo	1 ¼ M	Dirt
Saturday, May 1	35^th	I	$1,000,000	Old Forester Bourbon Turf Classic	4&up	1 1/8 M	Turf
Saturday, May 1	86^th	I	$500,000	Churchill Downs presented by Ford	4&up	7 F	Dirt
Saturday, May 1	35^th	I	$500,000	Derby City Distaff presented by Kendall-Jackson Winery	4&up, f&m	7 F	Dirt
Saturday, May 1	36^th	II	$500,000	Longines Churchill Distaff Turf Mile	4&up, f&m	1 M	Turf
Saturday, May 1	97^th	II	$500,000	Pat Day Mile presented by LG&E and KU	3yo	1 M	Dirt
Saturday, May 1	30^th	II	$500,000	American Turf presented by Derby City Gaming	3yo	1 1/16 M	Turf
Saturday, May 8	2^nd		$110,000	Mamzelle Overnight Stakes	3yo f	5 F	Turf
Saturday, May 15	84^th	III	$150,000	Louisville	4&up	1 ½ M	Turf
Saturday, May 22	18^th	III	$150,000	Winning Colors	4&up, f&m	6 F	Dirt
Saturday, May 22	8^th		$110,000	Keertana Overnight Stakes	4&up, f&m	1 ½ M	Turf
Saturday, May 29	24^th	III	$150,000	Matt Winn	3yo	1 1/16 M	Dirt
Saturday, May 29	52^nd	III	$150,000	Regret	3yo f	1 1/8 M	Turf
Saturday, May 29	33^rd	Listed	$150,000	Aristides	4&up	6 F	Dirt
Saturday, May 29	2^nd		$150,000	Blame	4&up	1 1/8 M	Dirt
Saturday, May 29	2^nd		$150,000	Shawnee	4&up, f&m	1 1/16 M	Dirt
Saturday, May 29	2^nd		$150,000	Audubon	3yo	1 1/8 M	Turf
Saturday, May 29	1^st		$110,000	Douglas Park Overnight Stakes	4&up	1 1/16 M	Turf
Saturday, June 5	5^th		$110,000	Mighty Beau Overnight Stakes	3&up	5 F	Turf
Saturday, June 12	45^th	III	$150,000	Old Forester Mint Julep	4&up, f&m	1 1/16 M	Turf
Saturday, June 19	11^th		$110,000	Roxelana Overnight Stakes	3&up, f&m	6 ½ F	Dirt
Friday, June 25	11^th		$110,000	Kelly's Landing Overnight Stakes	3&up	7 F	Dirt
Saturday, June 26	40^th	II	$600,000	Stephen Foster	4&up	1 1/8 M	Dirt
Saturday, June 26	46^th	II	$300,000	Fleur de Lis	4&up, f&m	1 1/8 M	Dirt
Saturday, June 26	32^nd	II	$300,000	Wise Dan	4&up	1 1/16 M	Turf
Saturday, June 26	120^th	III	$150,000	Bashford Manor	2yo	6 F	Dirt
Saturday, June 26	120^th	Listed	$150,000	Debutante	2yo f	6 F	Dirt
Saturday, June 26	2^nd		$150,000	War Chant	3yo	1 M	Turf
Saturday, June 26	2^nd		$150,000	Tepin	3yo f	1 M	Turf

The post Churchill Boosts Purses By $3.1 Million Thanks To Derby City Gaming appeared first on Horse Racing News | Paulick Report.

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