Churchill to Add Hotel, Historical Gaming at Track

Racing fans will soon have the opportunity to make Kentucky Derby week an overnight experience.

A hotel will be added at Churchill Downs as part of a large capital improvement project at the Louisville, Ky., track that also will include the addition of historical gaming.

First mentioned as a future project during an investor day presentation in November, Churchill Downs Inc. CEO Bill Carstanjen told investors and analysts during an Aug. 1 conference call that the company was ready to move forward with an about two-year project to add a hotel and historical gaming facility at the track, as well as additional seating.

"We anticipate announcing later this year a significant construction project to build a hotel with suites facing the track, more permanent premium seating, and a historical racing machine facility as well as other complementary amenities," Carstanjen said. "This project would be located around the first turn of the racetrack.

"The historical gaming facility will be in addition to (current Louisville historical gaming facility) Derby City Gaming. The machines that will be at Churchill Downs racetrack are permitted under the current license issued by the Kentucky Horse Racing Commission. Our objective is to have these new amenities open by the 2021 Kentucky Derby."

Churchill Future Projects Could Include On-Site Hotel

Carstanjen said the company plans a couple of smaller projects it will announce this year that will aim to contribute to the growth of Kentucky Derby week beginning next year. As for the larger project that includes the hotel, he said an architect has been selected and the company is finalizing design.

"We will provide specifics, including design and cost estimates, on our third quarter conference call," Carstanjen said.

Answering a question later in the conference call, Carstanjen said the hotel should not only be popular during Derby week but throughout the live race meetings. He said the historical gaming facility will be attached to the hotel, which will drive year-round interest.