Following last month's passage of legislation clarifying the state's definition of pari-mutuel wagering to include historical horse racing, Kentucky Gov. Andy Beshear and other politicians are scheduled to join track officials for a groundbreaking ceremony at Turfway Park March 19.
The Northern Kentucky track is currently racing without a grandstand after its old facility was demolished last year to prepare for a new building. The rebuild of Turfway was then suspended last year by track owner Churchill Downs Inc. amid COVID-19 and a September Kentucky Supreme Court decision that raised legality questions about HHR gaming.
The devices, which resemble slot machines but award pari-mutuel payouts with winning combinations determined by previously run horse races, have been a boon for track operators and for purses. CDI has agreed to work with politicians and other parties to raise the tax structure on HHR to generate more state revenue.
CDI purchased Turfway in the fall of 2019 for $46 million, pledging approximately $100 million further in capital improvements. The new facility, which will include a gaming area in addition to a grandstand, is scheduled for completion in the summer of 2022.
The rebuild of Turfway comes at a time when CDI recently announced the sale of Arlington International Racecourse in Illinois for development.
In addition to Beshear (Democrat), other scheduled attendees during Friday's ceremony include Sen. John Schickel (Republican, Union) and Rep. Adam Koenig (Republican, Erlanger), two political leaders who rallied support of the HHR legislation. Churchill Downs CEO Bill Carstanjen and Turfway general manager Chip Bach are other speakers.
The groundbreaking ceremony at 10 a.m. ET, Friday, will be shown online at Facebook.com/Turfway.
