LOUISVILLE, Ky. (WDRB) — Louisville-based Churchill Downs is about to open its fourth slots-like gaming facility in Kentucky at Turfway Park in Florence.
The company celebrated its $148 million renovation of the racetrack, a venue now called Turfway Park Racing & Gaming, in an event featuring Gov. Andy Beshear on Tuesday.
The facility will feature 850 historical horse racing machines, which mimic the experience of playing slots, with the ability to expand to 1,200 machines “as demand ramps up,” Churchill Downs CEO Bill Carstanjen said on the company’s earnings call last month.
He called it “an exciting entertainment venue for Northern Kentucky and the entire tristate area around Cincinnati.”
Churchill Downs acquired Turfway Park in October 2019. It tore down its aging grandstand, replaced its racetrack surface and began construction on a new grandstand, gaming floor, clubhouse, simulcast wagering area and event center.
Churchill Downs has poured hundreds of millions of dollars into historical horse racing in the last five years —a bet that is paying off for the company.
Its three existing properties — Derby City Gaming in Louisville, Newport Racing & Gaming in Newport, Ky. and Oak Grove Racing & Gaming in southern Kentucky — delivered record revenue and earnings before financial expenses in the second quarter of 2022, executives said last month.
The company is expanding Derby City Gaming and adding a hotel on its Poplar Level Road campus, while building a casino-like historical horse racing venue in downtown Louisville.
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