Kentucky is listed as one of 18 states “moving toward legislation” for legalizing sports gambling.
And Churchill Downs is confident about that coming to fruition. The Louisville Courier Journal is reporting that Churchill Downs unveiled its $65 million Derby City Gaming facility on Friday. The newspaper added that the 85,000-square-foot center includes a 50-seat sports bar and 900 instant racing machines. You can bet on sports now at Sugar House!
Just as we’ve seen in New Jersey, since sports gambling was legalized in the Garden State, this could be the beginning of a booming market for Kentucky.
Churchill Downs is banking on it, as the Louisville Courier Journal also reported that Churchill Downs is collaborating with Lexington’s Keeneland racetrack to operate a $125 million facility near Hopkinsville, Kentucky. The plan is for that center to open in 2020 and for it to include 1,500 instant racing machines in addition to a hotel.
The advent of the the instant racing machines is a game-changer.
“We’re just concentrating on what we can do today, which is run great live racing at the racetrack and have great historical racing here at Derby City Gaming,” Churchill Downs Racetrack President Kevin Flanery told the Courier Journal.
A majority of critics believe that Kentucky will successfully legalize sports gambling, but there is one giant roadblock to that coming to fruition — gambling is illegal under Kentucky’s Constitution.
That being said, the state has a lot to gain, as evidenced by New Jersey recently reporting $95 million in sports betting wagers for the month of August, as reported by the Associated Press.
And the fact that Derby City Gaming made its debut, while the state is moving toward legislation, shows that Kentucky’s sports gambling scene and market could very well turn into a healthy, thriving revenue stream for the state.