Churchill Downs opens Derby City Gaming Downtown in Kentucky
It’s CDI’s sixth historical racing machine venue in the state.
US.- Churchill Downs Incorporated (CDI) has announced the opening of Derby City Gaming Downtown (DCG Downtown) in Louisville, Kentucky. With a $90m investment, it’s CDI’s sixth historical racing machine (HRM) venue in Kentucky. The opening event saw a ribbon cutting and a $40,000 charitable donation to Norton Healthcare Foundation and The Hope Buss.
The 43,000 square feet two-storey Kentucky Derby-themed venue includes a gaming floor with 500 HRMs. It also offers food and beverage outlets, such as First Turn Sports Bar & Stage, Trophy Bar Bourbon & Cigars and Fascinator Wine Bar. The location includes 130 on-site guest parking spaces and an exterior façade with a 3D video board.
Kentucky governor Andy Beshear said: “As you all know, racing is a key part of our history and our culture. Churchill Downs brings folks from across the state and across our world together. This company isn’t just resting on where they’ve been, they’re laser-focused on where they’re going. They’re working tirelessly to be even better to ensure their future and our future as Kentucky is brighter than ever.”
Bill Carstanjen, CEO of CDI added: “This project is one of which I’m particularly proud because in addition to its impact of the Kentucky horse industry, it’s going to bring new energy to our downtown and stimulate investments like it. Derby City Gaming Downtown will give locals, bourbon tourists, convention attendees and all our visitors, another much needed entertainment facility in this region. Investing in downtown Louisville was more than a financial decision. It is an investment in the spirit and the culture and the future of our city.”
The opening of DCG Downtown coincides with a 150-day countdown the 150th running of the Kentucky Derby. Churchill Downs has unveiled the official Kentucky Derby 150 Mint Julep Glass and Kentucky Oaks 150 Lily Glass.
Churchill Downs opened sports betting at six venues in Kentucky this year. In September, it opened a new Rosie’s Gaming Emporium in Emporia, Virginia.
Churchill Downs Q3 revenue climbs 49%
CDI reported financial results for the quarter ended September 30. Revenue was $572.5m, up 49 per cent compared to the same period in the previous year. Net income was 7 per cent higher at $61m.
CDI announced record earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $218.2m, up 34 per cent year-on-year. Live and Historical Racing revenue was up 120 per cent and adjusted EBITDA up 134 per cent compared to the prior year quarter. TwinSpires revenue was up 5 per cent and gaming revenue was up 32 per cent.
