The company also filed an application to the Indiana Gaming Commission (IGC) for the open casino licence in Vigo County as it moves to secure the vacant lot and operating rights.

Bill Carstanjen, CEO of Churchill Downs, said: “Churchill Downs has a 147-year track record of offering extraordinary entertainment experiences and has significant expertise developing premier casino and gaming properties throughout the United States.

“We are proud to offer our vision for this world-class casino, a true destination resort designed to draw visitors and economic activity from across the Midwest to Terre Haute.”

According to the announcement, the Terra Haute will feature “up to 1,000 slot machines, 50 table games, a 125-room luxury hotel, a state-of-the-art TwinSpires sportsbook and several food and beverage offerings.”

In addition, Churchill Downs claims it derived the name from Terra Haute’s informal title, the ‘Queen City of the Wabash Valley’.

“We appreciate the local encouragement we’ve received as we’ve evaluated this opportunity,” continued Carstanjen.

“In the days ahead, we look forward to making our case to the Indiana Gaming Commission as to why our proposal to build the Queen of Terre Haute is in the best interest of the residents and businesses of Terre Haute, Vigo County and the State of Indiana.”

Economists from Indiana’s Purdue University conducted an impact study that estimates the Queen of Terre Haute will generate $190m in annual regional economic impact, as well as creating 1,000 construction jobs and 500 permanent jobs.

The study also claims that the project is expected to deliver a 2% annual increase in the West Central Indiana gross regional product.