Churchill Downs announces infield, frontside seating changes, new Kentucky gaming venue

Posted by author October 24, 2024 Horse Racing

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Churchill Downs Inc. teased more big changes for its famed Louisville racetrack and announced a new western Kentucky gaming facility during its Thursday earnings call.

The multi-year growth plans for the Kentucky Derby include the renovation of some 500 feet of trackside frontage seating and a “reimagined” Oaks and Derby infield that includes the conversion of temporary seating to permanent infrastructure.

“Collectively, these projects will by far be the largest expansion we have done to date,” said Churchill Downs Inc. CEO William “Bill” Carstanjen.

News of the capital improvements came on the company’s third-quarter earnings call, in which the Louisville-based company announced record net revenue of $628.5 million in the third quarter (compared to $572.5 million in the same time last year).

The frontside seating project will replace uncovered box seats and dining area seating, starting 180 feet past the finish line through the First Turn Club (the new space that debuted in 2023).

As part of the project, the Skye Terrace building will be demolished and replaced with a new structure.

More than 10,000 existing seats will be replaced with approximately 16,000 seats offering “premium hospitality experiences,” Carstanjen said.

For the infield, new permanent structures will accommodate approximately 7,000, up from about 800 in temporary seating.

A “series of new infield experiences” is also leading the company to explore the addition of a new tunnel leading from the frontside of the racetrack to the infield, Carstanjen noted.

The renovations and expansions will increase the number of premium seats by approximately 20%.

These capital projects will be worked on simultaneously and in stages, with some aspects ready for Kentucky Derby 2026 and others debuting ahead of the Run for the Roses in 2027 and 2028.

Carstanjen did not share costs for the Derby-related projects.

More details are set for the company’s next earnings call in February 2025.

Carstanjen also noted the company has made “significant progress” on the previously announced $90 million grandstand project that is turning existing outdoor aluminum bleachers into 8,300 new seats and is adding and refreshing amenities for an additional 2,800 third-floor box seat ticketholders.

Churchill Downs Inc. announces new gaming facility

The company also announced a planned $40 million-$50 million development in Calvert City, Kentucky.

The 23,000 square-foot entertainment venue in far western Kentucky would have 250 historical racing machines, a sports bar, a sportsbook, and a simulcast center. It marks the company’s eighth historical horse racing entertainment venue in Kentucky.

The facility, an extension of Oak Grove Racing, Gaming and Hotel, has a planned opening of early 2026.

Reach growth and development reporter Matthew Glowicki at mglowicki@courier-journal.com or 502-582-4000.