Summary:
- The venue cost $90 million and is located in downtown Louisville.
- Players can access historical racing machines.
- The property is an annex to Twin Spires Racetrack.
Louisville is offering players a wide variety of betting options thanks to the opening of the Derby City Gaming Downtown venue in the state of Kentucky.
Churchill Downs presented the new property yesterday, spending $90 million to create an annex to Twin Spires Racebook.
Derby City Gaming Downtown
The new gaming location is featured on a corner in downtown Louisville, offering guests historical horse racing machines. Visitors can also enjoy drinks via several bars and entertainment options. Sarah Davasher-Wisdom, the president and CEO of Greater Louisville Inc., commented that the facility’s opening shows that organizations are doubling down and showing their commitment to growth in the area.
Churchill Downs is investing heavily in the downtown area of the city. They look to lead by example and bring in new businesses and investments in the area. The company wanted to invest in downtown as it suffered due to COVID-19 and needed a little help.
The 43,000-square-foot facility offers 500 historical slot machines and is the 6th such property in Louisville. If offers three dining sports and a gift shop. The venue is expected to offer up to 200 permanent jobs, most of which will be local.
Reinventing Downtown Louisville
Churchill Downs invested in the downtown area as a way to give back. The goal was to support the city that supported its business. Churchill Downs is almost 150 years old and has been a staple in the community, bringing much-needed tourism and revenues to the local area and the state.
Derby City Gaming Downtown‘s location provides easy access for guests to downtown hotels, the Kentucky International Convention Center, museums, and other attractions. The company is hopeful that they will be able to see more ancillary businesses open downtown and contribute to the redevelopment of the area.
The property will remain open seven days a week and is expected to bring in over $28 million in annual revenues. Historical horse racing is a big business, bringing in billions of dollars annually. The state has generated over $2 billion in earnings from the industry in just three months, from July to September.
The game machines are more popular than actual horse racing and continue to be a huge economic driver. Traditional horse racing only brought in $34 million from July to September. It’s a stark difference to the revenue totals that the gaming machines are able to contribute.
Churchill Downs Inc. receives around $4 million in tax breaks for its contributions to Kentucky.
About the Author
