Churchill Downs Incorporated to Open Six Race and Sports Books at Kentucky Properties on September 7
23 Agosto 2023 - 9:00AM
Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq:
CHDN) announced today that the Kentucky Horse Racing Commission
(“KHRC”) has approved temporary licenses for six CDI properties to
begin accepting in-person sports wagers on Thursday, September 7,
2023. The Company will operate Race and Sports Books at its
racetracks and Historical Racing Machine (“HRM”) facilities in
Kentucky including: Churchill Downs Racetrack in Louisville, Derby
City Gaming & Hotel in Louisville, Turfway Park Racing &
Gaming in Florence, Newport Racing & Gaming in Newport, Oak
Grove Racing, Gaming & Hotel in Oak Grove and Ellis Park Racing
& Gaming in Henderson.
“CDI is excited to bring our experience
operating retail sports wagering experiences to Kentucky with many
thanks to the Kentucky General Assembly, Governor Beshear, the KHRC
and the Kentucky Public Protection Cabinet for their efforts in
making this a reality,” said Bill Carstanjen, CEO of CDI. “Sports
betting as a tourism and economic development opportunity will
further strengthen the state’s signature equine industry by
bringing new guests into our live and historical racing
venues.”
CDI’s licensed Race and Sports Books will
incorporate sports betting kiosks among existing bar and simulcast
areas for guests to place wagers. Most locations will offer large
format video screens or various televisions to watch live racing as
well as collegiate and professional sports. Each of CDI’s HRM
venues will implement a “Bet & Jet” feature that offers guests
designated parking spaces for 15 minutes in order to quickly and
easily place their in-person sports wager.
CDI properties across Kentucky will host grand
opening events featuring ribbon-cutting celebrations, themed food
and beverage offerings and discounts as well as sports wagering
promotions. To commemorate the opening day of retail sports
betting, Governor Beshear will place the first ceremonial sports
wager in the state of Kentucky at Churchill Downs Racetrack at 10
a.m. EDT. For specific details, promotions and hours of operation,
please visit the property Race and Sports Book websites below.
CDI’s retail Race and Sports Books opening on
September 7, include:
- Churchill Downs Racetrack: 15 sports betting
kiosks, 168 sq. ft. video screen, 20 large format televisions
(churchilldowns.com/sportsbook)
- Derby City Gaming & Hotel: 15 sports
betting kiosks, 300 sq. ft. video screen, 12 large format
televisions (derbycitygaming.com/race-sports-book)
- Ellis Park Racing & Gaming: 5 sports
betting kiosks (ellisparkracing.com/race-sports-book)
- Newport Racing & Gaming: 10 sports betting
kiosks, 20 large format televisions
(newportrg.com/race-sports-book)
- Oak Grove Racing, Gaming & Hotel: 20
sports betting kiosks, 300 sq. ft. video screen, 8 large format
televisions (oakgrovegaming.com/race-sports-book)
- Turfway Park Racing & Gaming: 15 sports
betting kiosks, 300 sq. ft. video screen, 16 large format
televisions (turfway.com/race-sports-book)
In addition to retail sports betting, the KHRC
also approved temporary licenses for three online sports wagering
service providers that will operate in partnership with CDI’s
racetracks: FanDuel, Penn Sports Interactive and Fanatics. Approved
service providers can begin accepting online wagers on Thursday,
September 28, 2023.
About Churchill Downs
Incorporated
Churchill Downs Incorporated (NASDAQ: CHDN) has
been creating extraordinary entertainment experiences for nearly
150 years, beginning with the company’s most iconic and enduring
asset, the Kentucky Derby. Headquartered in Louisville, Kentucky,
CDI has expanded through the development of live and historical
racing entertainment venues, the growth of the TwinSpires horse
racing online wagering business and the operation and development
of regional casino gaming properties.
www.churchilldownsincorporated.com
This news release contains various
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are typically identified by the
use of terms such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,”
“seek,” “should,” “will,” and similar words or similar expressions
(or negative versions of such words or expressions).
Although we believe that the expectations
reflected in such forward-looking statements are reasonable, we can
give no assurance that such expectations will prove to be correct.
Important factors, that could cause actual results to differ
materially from expectations include the following: the occurrence
of extraordinary events, such as terrorist attacks, public health
threats, civil unrest, and inclement weather, including as a result
of climate change; the effect of economic conditions on our
consumers' confidence and discretionary spending or our access to
credit, including the impact of inflation; additional or increased
taxes and fees; the impact of the novel coronavirus (COVID-19)
pandemic, including the emergence of variant strains, and related
economic matters on our results of operations, financial conditions
and prospects; lack of confidence in the integrity of our core
businesses or any deterioration in our reputation; loss of key or
highly skilled personnel, as well as general disruptions in the
general labor market; the impact of significant competition, and
the expectation the competition levels will increase; changes in
consumer preferences, attendance, wagering, and sponsorships; risks
associated with equity investments, strategic alliances and other
third-party agreements; inability to respond to rapid technological
changes in a timely manner; concentration and evolution of slot
machine and historical racing machine (HRM) manufacturing and other
technology conditions that could impose additional costs; failure
to enter into or maintain agreements with industry constituents,
including horsemen and other racetracks; inability to successfully
focus on market access and retail operations for our TwinSpires
Sports and Casino business and effectively compete; online security
risk, including cyber-security breaches, or loss or misuse of our
stored information as a result of a breach including customers’
personal information could lead to government enforcement actions
or other litigations; reliance on our technology services and
catastrophic events and system failures disrupting our operations;
inability to identify, complete, or fully realize the benefits of
our proposed acquisitions, divestitures, development of new venues
or the expansion of existing facilities on time, on budget, or as
planned; difficulty in integrating recent or future acquisitions
into our operations; cost overruns and other uncertainties
associated with the development of new venues and the expansion of
existing facilities; general risks related to real estate ownership
and significant expenditures, including risks related to
environmental liabilities; personal injury litigation related to
injuries occurring at our racetracks; compliance with the Foreign
Corrupt Practices Act or other similar laws and regulations, or
applicable anti-money laundering regulations; payment-related
risks, such as risk associated with fraudulent credit card or debit
card use; work stoppages and labor problems; risks related to
pending or future legal proceedings and other actions; highly
regulated operations and changes in the regulatory environment
could adversely affect our business; restrictions in our debt
facilities limiting our flexibility to operate our business;
failure to comply with the financial ratios and other covenants in
our debt facilities and other indebtedness; increases to interest
rates (due to inflation or otherwise), disruption in the credit
markets or changes to our credit ratings may adversely affect our
business; increase in our insurance costs, or inability to obtain
similar insurance coverage in the future, and any inability to
recover under our insurance policies for damages sustained at our
properties in the event of inclement weather and casualty events;
and other factors described under the heading “Risk Factors” in our
most recent Annual Report on Form 10-K and in other filings we make
with the Securities and Exchange Commission.
We do not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Investor
Contact: Philip Forbis |
Media Contact:
Tonya Abeln |
(502) 394-1094 |
(502) 386-1742 |
Philip.Forbis@kyderby.com |
Tonya.Abeln@kyderby.com |
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