Revolutionary Racing gets licence to open racetrack and casino in Kentucky
The Kentucky Horse Racing Commission has awarded the state’s ninth and final licence.
US.- Revolutionary Racing, the company that reopened Colonial Downs in Virginia, has been awarded a licence to open a $55m quarter-horse track and casino in Ashland in eastern Kentucky, near the borders of West Virginia and Ohio. Revolutionary Racing has received the the Kentucky Horse Racing Commission‘s last remaining licence.
Kentucky governor Andy Beshear said: “We are excited to have quarter horse racing back in Kentucky. This project invests $55m and creates 200 jobs in the northeast corner of our commonwealth. Bringing quarter horse racing back to Kentucky is an exciting opportunity to honor a lost Kentucky tradition and contribute to the state’s economy.”
The construction of the gaming facility is scheduled to be completed in 2024. Phase one of the project includes construction of a sprint race track, gambling facility, paddock, racing barns with 176 stalls, a test barn and parking.
Prentice Salter, CEO of Revolutionary Racing Kentucky, told the commission that the company’s “first priority has always been, first and foremost, to build first-class facilities.” He said the company projects an annual handle of $500m through the casino operation.
In 2018, Revolutionary Racing bought Colonial Downs for $20m in partnership with Peninsula Pacific, which eventually acquired the remaining interests in the Virginia properties. Earlier this year, Churchill Downs Inc. agreed to buy nearly all of Peninsula Pacific’s assets for $2.5bn.
