Churchill Downs to invest US$300m in new stadium seating, a hotel and HRM Facility

Churchill Downs Incorporated has announced plans to invest US$300m to build a hotel and historical racing machine (HRM) facility, as well as to add permanent stadium seating at Churchill Downs Racetrack, home of The Kentucky Derby. 

The development will transform the first turn of the 190-acre facility and provide guests the opportunity for never-before imagined Kentucky Derby experiences, with unparalleled VIP guest experiences. Pending final approval of a Kentucky Tourism Development Act incentive, construction would begin in December 2019 and is targeted to be completed in November 2021.

The new 156-room, 7-storey hotel will feature trackside suites, all of which will offer private balconies and covered panoramic views of the entire track, as well as non-track facing rooms that will offer access to a 2^nd floor party deck to watch the racing. A Penthouse banquet room, 27,000SF ballroom and meeting rooms will add desirable event space throughout the year and will likewise include exclusive Derby package offerings that will offer spectacular track views and the full bucket-list experience that Kentucky Derby guests have come to expect.

Kevin Flanery, President of Churchill Downs Racetrack, said:

Derby Week guests can wake up to a sunrise view as horses breeze around the track and then have their Kentucky Derby in their suite. We took exceptional consideration with the design approach to this project to ensure that the addition will seamlessly enhance and complement the historic nature and iconic aesthetic of Churchill Downs. Our goal is to create a one-of-a-kind venue not just for Derby week, but for the public benefit of our community and visitors of Louisville to enjoy throughout the year.

The hotel will include a 900-machine state-of-the-art HRM gaming floor, sports bar, VIP lounge and multiple year-round dining venues. In addition to welcoming patrons throughout the year, it will be packaged with exclusive Derby Week hospitality access for 3,400 guests in the existing Section 111.

New permanent covered stadium seating for 4,700 will replace the 3,300 temporary grandstands historically located in that area. It will provide a thrilling spectator experience to the thunderous racing and the famous Kentucky Derby walkover as well as an all-inclusive hospitality experience.

In total, the project will provide approximately 5,500 new reserved seating options for the Kentucky Derby and Oaks. Additionally, 6,700 existing customers will have access to upgraded amenities.

The project will provide for approximately 600 construction jobs and establish approximately 300 new permanent jobs upon completion. Churchill Downs has received preliminary approval for Tourism Development Act incentives that will enable this project to move forward and is awaiting final approval from the Kentucky Tourism Development Finance Authority in November.

Millionaires Row 6 Renovation

Churchill Downs will create a finely-curated culinary experience for guests of Kentucky Derby 2020 with an US$11m renovation of 6^th floor Millionaires Row. The update will offer upscale guest offerings and elevated service for up to 350 guests with a prime and picturesque view of the racetrack’s finish line.

The innovative concept will include an exclusive menu, deluxe drink and champagne packages as well as concierge service dedicated to meet tailored needs including pre-orders and dietary restrictions. Unique and interactive hospitality experiences punctuated with personal detail will be incorporated throughout the space including an in-room handicapper to consult for wagering along with premium and private bourbon tastings.

Flanery added:

Creating unique experiences for our guests has been the hallmark of the Kentucky Derby. From our Stakes Room and Turf Club renovations in 2016 to our Starting Gate Suites addition in 2018 and most recently our Starting Gate Suites Rooftop, we have consistently personalised each offering with the diverse expectations of our guests whether they are attending for the first time or returning year after year. Not since the opening of The Mansion have we conceived of something this luxurious and truly one-of-a-kind.

The renovated space will feature private dining rooms, lounge seating, window dining and a speakeasy bourbon room. More information on individual tickets to the new space for Kentucky Derby 2020 will be made available during an online ticket sale later this year.

Renovation will begin at the close of Churchill Downs’ Fall/Autumn Meet in December 2019 and will be completed prior to the running of the 146^th Kentucky Derby Presented by Woodford Reserve on Saturday, May 2, 2020.

About Churchill Downs Racetrack

Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, The Kentucky Derby, continuously since 1875. Located in Louisville, Ky., the flagship racetrack of Churchill Downs Incorporated (Nasdaq: CHDN) offers year-round simulcast wagering at the historic track. Churchill Downs will conduct the 146th running of the Kentucky Derby Presented by Woodford Reserve on May 2, 2020. The track’s 2019 Fall (Autumn) Meet will run from October 27 until December 1. Information is available at www.ChurchillDowns.com.

About Churchill Downs Incorporated

Churchill Downs Incorporated (CDI) (Nasdaq: CHDN), headquartered in Louisville, Ky., is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event – The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville. We also own and operate the largest online horseracing wagering platform in the U.S., TwinSpires.com, and are a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines / video lottery terminals and 200 table games in eight states. We also operate sports wagering and iGaming through our BetAmerica platform in multiple states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Images, courtesy: Churchill Downs

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