Derby Continues to Lean Into High-End Experiences

While planned major renovations at Churchill Downs will not result in a temporary change of venue for the Kentucky Derby (G1) as we've seen with the Preakness (G1) and Belmont (G1) stakes, the Louisville, Ky., track plans to begin another major overhaul of its seating venues soon after this year's Run for the Roses.

The Preakness is scheduled for a trip to Laurel Park for this year, ahead of a return to Pimlico Race Course in 2027, when an overhaul is not expected to be completed, but the track should be to the point it can host the race. The New York Racing Association plans a third straight Belmont at Saratoga Race Course this season ahead of a return to Belmont Park next year. (Look on BloodHorse.com this week for an update on those renovations.)

While Pimlico and Belmont will see completely new facilities, Churchill Downs has been regularly upgrading its seating options. In an April 23 conference call with analysts and investors covering first-quarter results, Churchill Downs Inc. CEO Bill Carstanjen outlined the schedule for the next upgrade. This one seems targeted for fans who wish to have the suite experience while also having access to the excitement of a view along the rail.

"Following this year's Derby week, we will accelerate the work on the Victory Run project," said Carstanjen, noting it's scheduled to be completed ahead of the 2028 Derby. "This new structure will offer spectacular premium suites on the first level. The guests in these suites will be able to walk to the rail to watch the races. Victory Run will also incorporate covered box seating and multiple high-end dining experiences on the second through fourth levels of the building. 

"These projects are designed to deliver strong, long-term returns while offering exceptional guest experiences."

READ: Churchill Downs Plans New Seating Area for 2028 Derby

For this year, Churchill has completed some upgrades that include renovations of the exclusive hospitality area called The Mansion, located high above the track, as well as improved amenities for the Finish Line Suites.

"These are our most exclusive suites, and we are very excited to show our customers a reimagined and unique setting," Carstanjen said. 

Churchill continues to lean into a trend seen at many major sporting events: supplying premium, high-priced experiences that, to date, fans have been willing to pay for. In February, the United States Bureau of Labor Statistics, in its "The Economics Daily" report, noted that from 2000-25, admission prices to sporting events has more than doubled, increasing by 123%. 

For comparison, it noted that prices consumers pay to see movies, theatrical performances, and concerts also went up over this 25-year period, but by somewhat less, increasing by 105%.

The report said that prices for recreation, a larger category that includes televisions, pets, sporting goods, toys, games, and hobbies, and recreational reading materials, as well as admissions, increased only 37%. And, the all-items index of consumer prices, which includes housing, transportation, food, apparel, and more, has increased 87% from 2000.

Churchill expressed confidence that it can continue to lean into fans who are able to afford these high-end experiences. Derby tickets for infield admission (no reserved seating) go for $132 or $252 for Oaks and Derby days. But for tickets that include seating, those prices rise into four figures. Tickets with seating typically package Oaks and Derby days together, with food and beverage included in the ticket price. It's an experience that continues to be in demand.

Churchill also continues to build interest in the race days ahead of Oaks-Derby weekend. This year, the track offered racing on Saturday-Sunday April 25-26 and will offer cards Tuesday through Saturday (Derby Day), April 28-May 2.

"Last year, we welcomed more than 370,000 guests across Derby week, roughly the equivalent of five Super Bowls in one week," Carstanjen said. "We see significant opportunities to continue growing the entire week with respect to attendance, wagering, viewership, sponsorship, and EBITDA as part of that strategy."