Churchill Downs unveils $400m projects

Churchill Downs has revealed its plans to spend approximately US$400 million on expansion projects at some of its properties.

US.- Churchill Downs will spend US$411 million on two expansion projects. The operator will spend US$311 million at the Churchill Downs Racetrack and US$100 million at the Miami Valley Gaming and Racing.

The home of the Kentucky Derby, Churchill Downs Racetrack, will experience an initial investment of US$300 million for a hotel and a historical racing machine facility. It will also see additional seating at the racetrack. If the Kentucky Tourism Development Act obtains approval, construction would kick off next month and has a completion date for November 2021.

Another US$11 million would create a “premium upscale experience” that includes the replacement of the existing Millionaires Row in time for Kentucky Derby 2020. “Derby Week guests can wake up to the sun rising as horses breeze around the track and then have their Kentucky Derby party in their suite,” added Kevin Flanery, president of Churchill Downs Racetrack.“Our goal is to create a one-of-a-kind experience that will honour the history of the Derby and provide a venue for our guests, the community and visitors of Louisville to enjoy throughout the year.”

Miami Valley Gaming and Racing’s expansion

Miami Valley Gaming and Racing would receive a US$100 million investment for a hotel and a parking garage. It would also expand the gaming floor and include 250 extra video lottery terminals. The hotel would include 192 rooms and suites and would create around 300 construction jobs.

“Miami Valley Gaming has been very successful since it was built in 2013, and the team has consistently driven strong growth while also being a great asset to their community,” commented Bill Carstanjen, CEO of Churchill Downs Incorporated. “This investment will enable MVG to meet the increased demand from a broader geographical reach and enhance the guest experience with high-quality amenities.”