$76 Million Investment to Include a Hotel, Additional Gaming Positions and an Upscale-Casual Restaurant
LOUISVILLE, KY. – Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced today a $76 million expansion at Derby City Gaming that includes construction of a hotel, additional gaming positions and expansion of the current amenities at the facility in order to better serve and attract guests.
The project will add 135,000 sq. ft. of new space to the facility and open with 200 additional gaming positions. The new space will be able to ultimately accommodate up to 400 new gaming positions. The expansion will include a VIP gaming space, a new sports bar, a stage for live entertainment and an upscale-casual restaurant and bar to create a variety of new food and beverage options for gaming and hotel guests throughout the entire day. The adjoining five-story hotel tower will include 123 rooms with 108 standard guest rooms, 14 corner suites and a VIP suite. The Derby City Gaming hotel will allow for guests to take advantage of unique hospitality and Kentucky Derby ticket pairing options.
“Derby City Gaming continues to exceed the Company’s expectations,” said Bill Carstanjen, CEO of CDI. “The expansion of this premier gaming property is intended to create an elevated experience for our guests that is inclusive of all their hospitality needs and is anticipated to fuel ongoing growth in purse contributions for Churchill Downs Racetrack.”
Construction on the project is scheduled to begin in early 2022 pending rezoning review and approval by the City of Louisville. The expanded gaming floor is targeted to open in late 2022 and the hotel is expected to open in the spring of 2023. The project is expected to provide for approximately 400 construction jobs and approximately 60 new permanent jobs at Derby City Gaming.
About Derby City Gaming
Derby City Gaming opened its doors on September 14, 2018 as the only gaming facility in Louisville, Kentucky. The 93,000 square foot facility is located approximately five miles from both the Louisville International Airport and the historic Churchill Downs Racetrack. Derby City Gaming features over 1,000 state-of-the-art Historical Racing Machines with over 130 popular game themes. The facility also includes two locally-inspired restaurants, Lil’ Wagners and Railbird’s Hot Chicken that seat over 160 people, a spacious 60-seat center bar with fourteen large TVs and two dedicated smoking and gaming patios with over 300 games combined, and more. www.DerbyCityGaming.com
Churchill Downs Press Release