Oaklawn announces $100 million expansion
The Arkansas racetrack announced an expansion along with the construction of a high-rise hotel.
US.- Oaklawn Racing and Gaming announced on Monday its plans to build a US$100 million expansion project that includes the construction of a high-rise hotel, a multi-purpose event centre, a larger gaming area and more on-site parking spots.
The racetrack’s project will become one of the largest hospitality investments in the history of the Natural State. Louis Cella, president of Oaklawn Jockey Club, said that as they enhance the entertainment experience for their customers, they will also further elevate thoroughbred racing and help make the state and Hot Springs stronger regional tourism destinations. “This historic announcement represents a new chapter in the rich 114-year history of Oaklawn,” said Cella.
The hotel, which still has to be named, will be seven stories tall with 200 rooms, as well as two presidential suites. It will also include a luxury spa, a fitness centre, a restaurant and an outdoor swimming pool. “The hotel will offer a unique vantage point for our patrons in that it will overlook the track. Imagine the spectacular view as the horses are heading down the stretch,” said Cella. “Our goal is to achieve 4-star status.”
The project also includes the addition of approximately 28,000 square feet of gaming space and a 14,000 square-foot multi-purpose events centre that will host more than 1,500 people for concerts and meetings, among other things.
Arkansas Governor Asa Hutchinson said: “The state of Arkansas is grateful to Louis and his family for their commitment to growing their business right here at home. This project, which will be financed exclusively with private funds, not only represents one of, if not the largest, tourism related expansion projects in our history, it will also rank among the state’s largest economic development projects in 2019.”
Earlier this month Arkansans voted to approve a constitutional amendment to allow four casino licences and the expansion of gambling operations at two racinos, including Oaklawn. Cella said that while people may assume that the announcement came in response to the passage of the amendment, they had begun planning this during their last expansion in 2014.
The project’s construction will start in May after completing the 2019 racing season, and the completion date is expected around January 2020 with the hotel and event centre to be finished in late 2020.
