After three years of renovations, and an estimated investment of $240 million, Kentucky’s Turfway Park Racing & Gaming is reopening its doors this week, on Thursday, September 1, with live racing making its major comeback on November 30.
“We’ve been waiting a long time and our team is ready to knock it out of the park,” General Manager Chip Bach said, as reported by Local 12 News. The venue, north of Florence, officially opens to the public at 9 a.m.
The new facility is now ready to welcome Northern Kentuckian bettors as the gaming market in the Tri-State grows. Even though Back acknowledges the competition, he considers it to be a good thing “to keep us sharp.” It’s going “to keep us hungry,” he noted.
.@SenatorSchickel delivered remarks at today’s preview of @TurfwayPark. He’s among our signature industry’s strongest advocates. In 2021, Schickel championed SB 120, which created a pathway for keeping Historical Horse Racing & ensured the future of our signature equine industry. pic.twitter.com/sWZKFAhh9h
— KY Senate Majority (@KYSenateGOP) August 30, 2022
Churchill Downs took over the park in 2019, and started the renovation process with major upgrades. Now, 800 historical horse racing machines and two restaurants fill the entertainment space. The outdoor grandstand was also knocked down and an indoor gaming area was created, which is a flexible space that can also be used for events.
“We are going to be active and viable all year round. We basically ran three and four days a week at night and that was the extent of the entire property,” Bach said, according to the cited source.
I am BLOWN AWAY! Pictures cannot do this place justice. pic.twitter.com/Uz041hTBS5
— Kaitlin Free (@kaitlinefree) August 30, 2022
“During racing, we are going to have four tops. We are actually incorporating a restaurant in the corner here. We will have high tops. For people that may not have a great view, we have these beautiful monitors up here, the high-def monitors to watch the races,” he added.
Gov. Andy Beshear backed Turfway Park during the renovation process, as horse racing is a key feature in the state’s economy. Turfway is bringing that back to the northern part of the state, stakeholders believe.
“We are giving Kentuckians the opportunity to keep their money in Kentucky instead of driving it over into Indiana and Ohio. Kentuckians can keep their money, our taxes, and keep generating and maintaining our wealth in Kentucky,” Bach noted.
Churchill Downs reported back in July its business results for the second quarter of the year, driven by the Kentucky Derby at Churchill Downs Racetrack. For the period, CDI posted record net revenues of $582.5 million, up from $515.1 million in Q2 2021; and a record net income of $339.3 million, more than triple the $108.3 million in the comparable quarter last year.
The second quarter also saw CDI run the 148th edition of its emblematic Kentucky Derby, with record Derby Week all-sources handle for Churchill Downs Racetrack and record Derby Week Adjusted EBITDA.
