Owensboro Racing & Gaming features 600 historical racing machines (HRMs), a retail sportsbook, simulcast wagering and multiple food and beverage options. It is CDI’s seventh HHR venue, with the Live and Historical Racing segment helping to boost the group’s revenue and earnings.
The new facility covers 71,500 square feet and is projected to generate $125m annually for the regional economy.
‘Exciting milestone’
“Today marks an exciting milestone for our company as we expand our footprint in western Kentucky and further strengthen our commonwealth’s signature horse racing industry,” said Bill Carstanjen, chief executive of CDI. “Owensboro’s newest entertainment destination will drive new tourism, entertainment and economic opportunities in eastern Daviess County.”
CDI saw Live and Historical Racing revenue up 12% year-on-year in its most recent financial results. Adjusted EBITDA for the segment was up 15% compared to the third quarter of 2023. Much of the $26.9m increase was attributable to growth at its Virginia properties and the opening of the Rosie’s Emporia property in September 2023.
The new HRM entertainment venue will support purse funding for CDI’s Ellis Park’s summer racing meet in Henderson, Kentucky. CDI bought Ellis Park in 2022 for $79m, and has since invested more than $8.5m in enhancements and repairs on the property.
The Owensboro Racing venue is located on an approximately 20-acre site at the corner of US Highway 60 and Wrights Landing Road east of Owensboro, which is Kentucky’s fourth largest city.
