Exciting Developments Ahead for Churchill Downs Racetrack
Introducing the Victory Run Project
Churchill Downs Incorporated (NASDAQ: CHDN) has unveiled an exciting initiative named the Victory Run, set to enhance the overall experience for guests at the iconic racetrack. This ambitious project aims to transform the area between the First Turn Club and the Skye Terrace, replacing outdated dining and box seating with a modern, luxurious structure.
A Premium Hospitality Experience
The new structure will be a stunning four-story design, boasting a plethora of premium offerings. Guests will enjoy breathtaking views of the racetrack's finish line, with options including private suites, indoor and outdoor dining, and covered box seating. This upgrade will significantly increase capacity, moving from about 6,400 existing seats to around 7,800 premium seats, enhancing the comfort and enjoyment of all who visit.
Construction and Future Plans
Pending the necessary approvals from local authorities and state agencies, construction of the Victory Run is slated to begin after the running of the Kentucky Derby, with a targeted completion by the next Kentucky Derby. In the interim, Churchill Downs plans to offer upgraded temporary seating and enhanced amenities, ensuring an enjoyable experience for guests attending the 2027 Kentucky Derby. The financial commitment for this project is substantial, estimated between $280 million and $300 million.
Enhancing Guest Experience and Shareholder Value
Bill Carstanjen, Chief Executive Officer of Churchill Downs Incorporated, expressed excitement for the Victory Run project, highlighting its potential to significantly improve guest experiences in a vital section of the racetrack. He emphasized that the endeavor is not just about immediate enhancement but also about delivering long-term growth and value for shareholders.
About Churchill Downs Incorporated
Churchill Downs Incorporated has been a leader in the entertainment and horse racing industry for over 150 years, primarily known for the Kentucky Derby. Headquartered in Louisville, Kentucky, the company has successfully expanded through acquisitions and developments in live racing, historical entertainment, and regional casino operations.
Investor and Media Contacts
For inquiries, the investor contact is Sam Ullrich at (502) 638-3906, and for media inquiries, reach Tonya Abeln at (502) 386-1742.
Frequently Asked Questions
What is the Victory Run project?
The Victory Run is an upcoming construction project aimed at enhancing hospitality and seating at Churchill Downs Racetrack.
When will construction begin?
Pending approvals, construction is expected to start after the Kentucky Derby and be completed before the following Derby.
How many seats will the new structure accommodate?
The new structure will provide about 7,800 premium seats, increasing comfort and viewing experiences for guests.
What is the budget for the Victory Run project?
The estimated budget for the project is between $280 million and $300 million.
What are Churchill Downs Incorporated's main areas of focus?
The company specializes in racing, gaming, and entertainment, striving for innovative experiences in these sectors.
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