Revolutionary Racing partners with the Eastern Band of Cherokee Indians
The Eastern Band of Cherokee Indians (EBCI) will be a significant partner in Revolutionary Racing’s horse racing complex.
US.- The Kentucky Horse Racing Commission has voted unanimously to approve new partners in the racetrack and equestrian centre to be built in eastern Kentucky by Revolutionary Racing. The Eastern Band of Cherokee Indians will serve as a financial partner for the company that reopened Colonial Downs in Virginia. Keeneland Association will also be a partner.
In July, Revolutionary Racing was awarded a licence to open a $55m quarter-horse track and casino in Ashland, near the borders of West Virginia and Ohio. It received the Kentucky Horse Racing Commission‘s last remaining licence.
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. The company projects an annual handle of $500m through the casino operation.
“We appreciate the support the KHRC has shown for this project throughout this process,” said Larry Lucas, chairman of Revolutionary Racing Kentucky. “We are excited to welcome our new partners and even more excited about the positive impact we can make in eastern Kentucky.”
The Eastern Band of Cherokee Indians will make their investment through EBCI Holdings. “We couldn’t have found a better group to partner with or a better project to support,” said Richard Sneed, principal chief of the Eastern Band of Cherokee Indians.
“We have a long-term commitment to community reinvestment and providing best-in-class entertainment offerings to underserved markets. This world-class project aligns perfectly with that commitment.”
