The Illinois Thoroughbred Horsemen’s Association recently announced that two unnamed bidders have expressed interest in purchasing Arlington International Racecourse in Arlington Heights, Illinois.
The horsemen’s group of owners and trainers said the two possible buyers were motivated by the decision of Arlington owner Churchill Downs not to pursue a long-sought casino license.
ITHA President Mike Campbell said, “If Churchill is not going to utilize their license, they should move over. We would welcome a new owner of Arlington.”
He added the two potential bidders “clearly have the ability and wherewithal to pull it off if, in fact, Churchill has no desire to fulfill the intent of the law. The important thing is finding someone with the money. Both prospective buyers clearly have the interest and the resources.”
Campbell noted one group has “a great deal of experience” in horseracing.
Last August, Churchill Downs announced it would not install table games and slot machines at Arlington, after a two-decade battle to turn it into a racino. Churchill Downs Chief Executive Officer Bill Carstanjen said high taxes and a “hyper-competitive” gaming market made it an “untenable” investment.
The ITHA considered the move a betrayal, claiming Churchill simply wants to stifle potential competition with its Rivers Casino in Des Plaines, 12 miles away. The ITHA is fuming over Churchill’s refusal to sign a contract ahead of the racing season, scheduled to start May 1. The Illinois Racing Board awarded 68 racing dates to Arlington over the objections of the horsemen’s group.
Campbell said the chances of any races being held at the 92-year old venue are 50-50. The horsemen want an average of $200,000 in daily purse money, but they say Churchill Downs has dug in at $130,000, well below average purse amounts in neighboring states. Churchill said it will not commit to live racing at Arlington beyond 2021. Campbell commented, “We held on thinking that a casino at the racetrack was going to make a difference for us. Now, that’s unlikely.”
Governor J.B. Pritzker’s office said Churchill Downs’ decision to pass on a racino is “a significant reversal from the years and years of race track owners seeking additional ways to generate revenue to keep their operations working.
“In fact, the new gaming legislation provides several opportunities for significant additional revenues, including table games and slots. Just as importantly, the legislation allows the racing industry to flourish instead of facing more years of decline. Just to be clear: actions taken around gaming will be done to benefit the people of Illinois, not solely for the bottom line of individual operators.”
