Posted on 10/03/2019 5:45:53 PM PDT by ConservativeStatement
LEXINGTON, Ky. – Churchill Downs Inc. has reached an agreement to purchase Turfway Park in Northern Kentucky for $46 million, giving the company an additional foothold in a heavily populated area to expand its casino operations.
The deal, which came together quickly over the past four weeks, was reached as Churchill was mounting a challenge to Turfway Park by submitting a dates application for the track’s winter dates. Under that proposal, Churchill had said that it would build an entirely new track and casino in the northern Kentucky-Cincinnati metro area if it was awarded the dates. If accepted by the racing commission, the proposal would have likely put Turfway Park out of business.
(Excerpt) Read more at drf.com ...
This paragraph is of interest: Churchill’s deal for Turfway was reached just one month in advance of the Kentucky gubernatorial election, which could have a significant impact on the political appetite for casinos in the state. The incumbent, Matt Bevin, a Tea Party Republican, has rejected plans for expanded gambling and continues to campaign against the legalization of casinos, while his opponent, Attorney General Andy Beshear, a Democrat, has said that he would support a casino bill, in part to raise money for the state’s ailing pension funds.
I’m glad to see it. The track had been allowed to become very run down. The investment promised by its old owner (a casino 10 miles away) for slots was never going to happen. The track has a winter meet with a synthetic track which has been very safe for inclement racing. I wonder if they’ll keep the Polytrack?
According to this article, both dirt and synthetic will exist:
https://www.rcnky.com/articles/2019/10/03/churchill-downs-buy-turfway-park-build-new-facility
New Turfway Park is anticipated to support up to 400 direct full and part time equivalent positions and create an estimated 800 direct construction jobs, the news release said. The project will include a historical racing machine facility featuring up to 1,500 machines, a state-of-the-art clubhouse, food/beverage venues and a new inner dirt track to complement the existing one-mile synthetic main race track.
That’s fantastic. I love Matt Bevin but he is wrong on this issue.
I’m a Bevin supporter also, but tri-state is saturated with gambling options in Indiana and Ohio. If it is a betting room for races throughout the US, I think the Governor would accept.
Don’t want another Beshear for governor. Had my fill with his daddy.
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