New Entertainment Venue for Churchill Downs
Ambitious plans have been revealed by Churchill Downs (NYSE: CHDN), which includes a racing machine entertainment venue which will be called Derby City Gaming Downtown.
The venue will consist of 43,000 square feet and include 200 parking spaces, a merchandise store, 500 HRM’s along with a unique bar concept.
Work is about to begin this year, with the project due for completion in the early part of 2023.
The Louisville Mayor, Greg Fischer, had this to say about the announcement, “Today, Churchill Downs becomes an important component of a downtown Louisville revitalization that has been gaining momentum the last several years.
Downtown is our community’s center, and as the economic engine of the region, our downtown also is our region’s center.
Derby City Gaming Downtown will bring even more life to Fourth Street with just shy of an acre’s worth of space for more entertainment offerings, another stop for bourbon fans, a shopping outlet for Kentucky Derby merchandise, and permanent jobs to downtown.
Thank you, Churchill Downs, for your commitment, your investment, and for your belief in our great city.”
Churchill Downs have also pledged $1million to the West End Opportunity Partnership, which will improve the quality of life in the nine West End neighborhoods.
CDI is committed to investing in the city of Louisville, and today we are particularly excited to announce this new downtown entertainment venue. Our HRM expansion will be a win for the entire community in the Louisville area and will create $10m to $12m per year in additional purse money for Churchill Downs Racetrack. It is important that Louisville is a city that is thriving — a great place to live, work and visit, and we are committed to helping create economic vibrancy for every area of our community. The West End Opportunity Partnership and our collaboration with OneWest can help us responsibly and sustainably achieve that vision.