Churchill Downs Integrated (“CDI” or “Firm”) (Nasdaq: CHDN) broke floor in the present day on a $145 million, state-of-the-art, reside Thoroughbred and historic horse racing venue as a part of the Firm’s plans to revitalize Turfway Park in Florence, Kentucky. The venture is a part of CDI’s ongoing efforts to strengthen and convey innovation to Kentucky’s signature horse racing trade and shall be known as Turfway Park Racing & Gaming (“Turfway”).
Audio system at in the present day’s ceremony included The Honorable Andy Beshear, Governor of Kentucky; Senator John Schickel; Consultant Adam Koenig; The Honorable Diane Whalen, Mayor of Florence, Kentucky; Invoice Carstanjen, CEO of CDI; and Chip Bach, Normal Supervisor of Turfway.
CDI acquired Turfway Park in October 2019 and instantly commenced demolition of the prevailing grandstand following the shut of the 2019-2020 race meet. In March 2020, Turfway’s current Polytrack was changed with a brand new $5.6 million Tapeta artificial monitor, one of many world’s main surfaces for racing and coaching. The ultimate part of improvement and building will embody a brand new grandstand, a pari-mutuel gaming leisure flooring that includes as much as 1,500 historic racing machines, a state-of-the-art clubhouse, the most important simulcast wagering space within the state with VIP participant facilities, an 18,500 sq. ft. occasion heart, in addition to a number of meals and beverage venues.
“At the moment is an thrilling day and a really big day for our Firm. We’re happy to start this ultimate part in constructing a premier facility at Turfway Park that may restore the racetrack to its former glory,” stated Invoice Carstanjen. “This venture will revitalize the Kentucky winter Thoroughbred racing circuit in addition to gasoline the well being of the Commonwealth’s total signature horse trade. There are numerous people who find themselves part of this neighborhood and part of this state who’re the unsung heroes in making this venture occur.”
“We’re right here to rejoice the groundbreaking of Turfway Park Racing & Gaming, which represents the subsequent chapter in a brighter future for horseracing in Kentucky,” stated Governor Beshear. “I wish to thank the complete staff at Churchill Downs, Integrated for bringing this venture so far. We’re simply within the beginning gate, however the race that this facility and this space is about to run goes to be lengthy and it’s going to achieve success.”
“The impression of this venture on the Northern Kentucky financial system can’t be understated. Moreover, the general impression on Kentucky’s horse trade and, consequently, our total financial system is dramatic,” shared