Key points:
- Churchill Downs Incorporated (CDI) has launched Owensboro Racing & Gaming, its newest historical horseracing (HHR) venue in Kentucky
- The facility includes 600 historical racing machines (HRMs), a retail sportsbook and multiple dining options
- Revenue generated from the venue will contribute to funding for Ellis Park Racing & Gaming’s summer racing meet
Churchill Downs Incorporated (CDI) has officially opened Owensboro Racing & Gaming, a $100m historical horseracing (HHR) facility in Owensboro, Kentucky.
The venue, CDI’s seventh HHR property in the state, features 600 historical racing machines (HRMs), a retail sportsbook, simulcast wagering and a variety of food and beverage options.
The new facility is expected to support purse funding for Ellis Park Racing & Gaming’s summer racing meet in Henderson, Kentucky.
The investment is part of CDI’s broader expansion strategy, which includes multiple new gaming and racing developments across the US.
CDI has continued to report strong financial performance in recent quarters, with historical racing venues playing a key role in its revenue growth. In its Q1 2024 earnings report, the company recorded net revenue of $590.9m, a 6% year-on-year increase.
The Live and Historical Racing segment saw a 15% rise in revenue and a 23% increase in adjusted EBITDA, driven by growth at Kentucky and Virginia properties.
Owensboro Racing & Gaming follows the recent expansion of CDI’s historical racing network, which has included the opening of Rosie’s Emporia property in Virginia and the development of The Rose Gaming Resort, set to launch later in 2024.
These venues are part of CDI’s efforts to capitalise on the increasing popularity of HRMs and regional gaming destinations.
Good to know: The company has also been active in strategic transactions, including the sale of a 49% stake in United Tote Company to NYRA Content Management Solutions and the continuation of its share repurchase programme
CDI’s expansion into Owensboro aligns with Kentucky’s broader support for HHR venues, which have contributed to purse funding for live horseracing events across the state.
