Gaming in Kentucky: Churchill Downs to open entertainment venue in Calvert City
CDI plans to open a facility with 250 historical racing machine, a sports bar and a sportsbook, and a simulcast center in 2026.
US.- Churchill Downs Incorporated (CDI) has announced the planned development of a $40m to $50m historical racing machine (HRM) entertainment venue in Calvert City, Kentucky. The firm plans to open the new 23,000-square-foot facility with 250 HRMs, a sports bar and a sportsbook, and a simulcast center in early 2026.
The new facility will serve as an extension of Oak Grove Racing, Gaming and Hotel and will be CDI’s eighth historical horse racing entertainment venue in the Commonwealth of Kentucky.
Recently, Churchill Downs reported financial results for the quarter ended September 30. Revenue was $628.5m, up 9.3 per cent compared to the same period last year. The company stated that revenue increased thanks to growth from properties in Virginia and the opening of the Rosie’s Emporia property in September 2023.
See also: Churchill Downs takes historical horse racing to Malta for first operation outside the US
Net income attributable to CDI rose 6.9 per cent to $65m. The operator also achieved record adjusted EBITDA of $235.3m, up 7.5 per cent from Q3 2023. Adjusted EBITDA set new records in both the gaming and TwinSpires segments.
In Kentucky’s first year of regulation, players spent $2.39bn betting on sports. Adjusted gross revenue reached $272m. That’s according to the information released by the Kentucky Horse Racing Commission (KHRC). The state’s regulated sports wagering market launched in September 2023.
Players bet $2.3bn online and $87.1m at retail sportsbooks. Online betting generated $264.3m in adjuster gross revenue and retail wagering $7.8m (after player winnings and federal excise tax). Kentucky collected $37.7m in tax from online sports wagering and $756,517 from retail betting.
