Is the Future Bright with Horse Racing in Virginia?

Churchill winner's circleContrary to popular opinion, Churchill Downs has a plan that includes a bright future for Colonial Downs, their new racetrack purchase in the state of Virginia.

“As Colonial Downs prepares to change ownership, the new company has a message for Virginians: “We’re bringing our checkbook.”

That’s what Churchill Downs CEO Bill Carstanjen said during a recent visit to Richmond, as his group prepares to take over Virginia’s only Thoroughbred racing venue, as well as the six Rosie’s locations around the state.

Churchill Downs is the most famous venue in horse racing, hosting the annual Kentucky Derby, and once the deal to secure Colonial Downs’ parent company for $2.4 billion is in place, Carstanjen said his group intends to invest to build up its presence in Virginia.

“We really loved what we saw in Virginia, which is the rebirth of the equine business here,” he said. “It was historically an important part of the U.S. scene, but in the last number of decades it hasn’t been.”

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