Without specifying a site, Churchill Downs Inc. recently announced it plans to build New Latonia Racing & Gaming, a $200 million horse racetrack and betting facility in Northern Kentucky.
Churchill said it will apply for race dates from December through March starting in 2020. Officials said racing will be held at Churchill Downs in Louisville until the new facility opens. However, Turfway Park in Florence typically holds races on those dates.
Mark Dunkeson, chief executive officer at JACK Entertainment, Turfway Park owner, said, “We are shocked and thoroughly disappointed by Churchill Downs’ recent attack on Turfway Park, which has been a significant part of the Northern Kentucky community for over 60 years.”
He called Churchill Downs’ plans a “desire to restrict competition” and stated, “JACK Entertainment and Hard Rock International will jointly defend the long-standing race dates that have regularly been awarded to Turfway Park and contest the inappropriate actions of Churchill Downs and their attempt to disrupt the Northern Kentucky racing community.”
Turfway already has approval to host racing December 4-31 this year, Dunkeson said. Next year’s race dates will be set by the Kentucky Horse Racing Commission in the fall. Typically the commission divides calendar among various racetracks–including Churchill Downs, Keeneland, Turfway, Ellis Park and Kentucky Downs—to avoid overlap and competition.
Kentucky Horse Racing Commission spokeswoman Krista Locke said the commission follows the statutes that apply to licensing of racetracks, including awarding race dates—specifically, “Dates traditionally awarded racetracks in the past.” The statute also states the commission will consider racing events held at the same time within and outside Kentucky.
Locke said the commission previously has received requests for overlapping dates. She said Churchill Downs and Kentucky Downs requested the same dates but negotiated an agreement that resulted in coinciding race dates at Churchill Downs, Kentucky Downs and Ellis Park, which the commission approved.
In April, JACK Entertainment agreed to sell Turfway Park and JACK Cincinnati Casino to Hard Rock International and VICI Properties for $780 million. Dunkeson said that deal, set to close by year’s-end, should not impact Turfway’s preferred race dates. He added that Hard Rock has committed to investing more than $100 million in improvements, larger purses and historical racing machines.
“Once these improvements are completed, Turfway will be an exceptional facility that is well positioned to carry on its rich history of Thoroughbred racing while becoming an entertainment attraction for all of Northern Kentucky,” Dunkeson said.
Churchill Downs’ new Latonia facility will feature a one-mile synthetic racetrack, a dirt track for year-round training and eventually a hotel. It will include a historical racing wagering facility. Churchill Downs President Kevin Flanery said, “Churchill Downs is stepping up to protect and grow Kentucky’s Thoroughbred racing circuit. Our willingness to make a sizeable investment in the neglected northern Kentucky market is our latest effort to improve Kentucky’s valuable horseracing and agriculture industries.
“Just as Derby City Gaming’s historical racing machines have supercharged purses at Churchill Downs Racetrack, we plan to do the same for northern Kentucky’s racing fans at New Latonia. Our goal is to deliver an ultra-competitive racing product with more entries and high-quality horses that appeal to bettors and horseplayers nationwide,” he said.
From its September 2018 opening through the end of August, Derby City has produced about $860 million in handle, generating $13 million in taxes, including $5.8 million for the state’s general fund.
Churchill Downs and Keeneland broke ground in April on the $150 million Oak Grove Racing and Gaming in southern Kentucky, featuring live and historical racing.
Churchill Downs also recently announced it will partner with Full House Resorts to offer retail and online sports wagering under its BetAmerica brand at the Rising Star Casino Resort in Southern Indiana and throughout the state. Retail and online sports wagering also will be available through BetAmerica at Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado and throughout the state, subject to the approval of legislation by Colorado residents, issuance of final regulations, and gaming license approvals.
CDI Chief Executive Officer Bill Carstanjen said, “We believe our innovative, state-of-the-art products and deep experience as the leader in online horseracing wagering enable us to introduce a premier sports betting platform in Indiana. We look forward to the opportunity to provide our BetAmerica Sportsbook to the residents of Colorado in the future as well.”
Through BetAmerica, bettors can wager on professional and collegiate sports plus worldwide sporting events. The BetAmerica Sportsbook also offers in-game betting, early cash out options and enhanced bonuses and products.
