Lexington, KY – Keeneland and the Red Mile have announced rather than competing with each other for instant racing games, the two would partner to open a single facility with 1,000 terminals at the Red Mile to benefit the purses at both tracks.
Keeneland had previously announced plans to build a 600 terminal facility called the Keeneland Event Center for instant racing, or historical racing, which is akin to slot machines that operate off previously run races throughout time.
As was the case with Keeneland’s planned facility, the Red Mile had received the go ahead from the Kentucky Horse Racing Commission to build a 500 terminal instant racing facility at the track near Lexington’s downtown and the University of Kentucky campus.
At the time of their April announcements, both facilities were aiming to have their ribbon cuttings in July of 2015. According to the joint press release this morning, the $30 million single facility will be ready for guests in September of 2015.
“We feel the best course of action for both our key constituencies is a facility at the Red Mile. Our belief is that the benefits of a more centrally located and fully dedicated facility outweighs locating this wagering option on our property,” Keeneland’s COO Vince Gabbert said in the press release.
The new joint facility is expected to create 100 jobs for construction and eventually employ 150 once full operational. Lexington contractor DW Wilburn, Inc will construct the facility.
Both Kentucky Downs in Franklin and Ellis Park in Henderson already have instant racing machines, which according to Red Mile’s President and CEO Joe Costa has proven fruitful.
“There is no question that new revenue streams have already made a difference to the Thoroughbred and Standardbred industries,” Costa said in the release. “Here in Kentucky we’ve already seen what a difference historical wagering can mean to our owners and horsemen.”
“By making this pari-mutuel wager available in Fayette County, our state’s signature industry can enjoy the financial benefits of a crucial new revenue stream for not just owners and breeders, but also the entire horse industry,” Costa said.
Keeneland’s previously announced Keeneland Event Center that would encompass 40,000 square feet for the instant racing machines and simulcasting will not be built “for the foreseeable future,” according to Kip Cornett, spokesman for the new joint venture.
Whether or not Keeneland would consider a reconfigured event center minus the instant racing machines down the road remains to be seen, Cornett said, but he said not to expect a ground breaking on any form of the previously announced facility for at least this year or next.