Full terms of the deal, announced last week, were undisclosed. However, according to Wind Creek Hospitality, the acquisition of Birmingham Racecourse is a “significant financial investment” for the tribe.
Opened in 1987 by businessman Milton McGregor, the venue began life as a thoroughbred horse racing track. It transitioned to a greyhound racing track in the 1990s, whereas during recent years, it has relied on simulcast betting and pari-mutuel wagering.
Wind Creek said the purchase is part of its long-term commitment to develop a “world-class” destination resort in Birmingham. It added this will help create jobs, spur economic growth and benefit both the city and the region.
What Does the Future Hold for Birmingham Racecourse?
The initial agreement between PCI and the McGregor Family was announced last November. Further plans for the future operations of the venue will be announced in due course.
However, PCI has said it will continue running the pari-mutuel and historical horse racing games currently in operation.
Wind Creek Hospitality, also based in Alabama, owns and operates three properties in the state. It also owns hotel and casino properties in Florida, Pennsylvania and Illinois, as well as resorts in the Caribbean.
“We are excited to finalize this acquisition and begin a new chapter for the Birmingham Racecourse,” PCI Gaming Authority president and CEO Jay Dorris said. “Our vision is to build upon the strong foundation that is already in place while enhancing the facility to create a first-class entertainment destination that benefits the Birmingham community and the region.”
Wind Creek Committed to Birmingham
PCI tribal chair and CEO Stephanie Bryan emphasized the tribe’s dedication to investment in the Birmingham community.
“As a tribal people, we are committed to being good neighbors,” Bryan said. “We also want to be a force for economic growth and positive change.
“We’re very excited to have this wonderful opportunity in Birmingham. We look forward to creating a top-tier entertainment venue that will bring a boost to the local economy, provide good jobs, and attract tourists from all over the country to one of America’s most dynamic cities.”
