Churchill Downs Inc. is a horseracing and casino gaming operator located in the state of Kentucky. The company was recently approved to begin offering instant racing machines by the Kentucky Horse Racing Commission. Initial approval was granted to Churchill Downs with as many as 600 instant racing machines that can be added to a new venue at the Trackside training location in Louisville. This location is very close to the track of Churchill Downs that is used for the Kentucky Derby race.
The new venue will have a price tag of $50 to $60 million with construction set to commence later on this summer. The company is hoping to accept their very first customers by next summer. Kevin Flannery, of Churchill Downs Inc. commented that the company choose not to install the new gaming machines at their Louisville racetrack due to limited space.
With instant racing, players will be using machines that play simulated videos that depict real-life races. These races will have already taken place and all identifying information removed before players begin placing their wagers. In the past, such machines have been controversial in nature due to being introduced due to their chance-outcome that is similar to slot machine gaming, something that has not been approved in several states.
In Kentucky, legislators approved instant racing games in 2010 but Churchill Downs did not move to add the machines to their gaming offerings. It was believed that Churchill Downs wanted to offer actual slot games but it seems the state is not going to expand on gaming so Churchill Downs is settling for what they can do right now.
Other racetracks have already launched the instant racing machines, including Ellis Park, Kentucky Downs and The Red Mile. With the addition of such gaming machines, Churchill Downs will be able to rely less on their land-based race betting revenues, providing an additional resource for income.
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