Churchill Downs to Sell Beautiful Arlington Park in Chicago

Churchill Downs Inc. to sell historic Arlington International RacecourseLOUISVILLE, Ky., Feb. 23, 2021 (GLOBE NEWSWIRE) — Churchill Downs Incorporated (“CDI” or “Company”) (Nasdaq: CHDN) announced that the Company has launched a process to sell the 326 acres in Arlington Heights, Illinois that are currently the home of Arlington International Racecourse (“Arlington”). CBRE will bring the redevelopment opportunity to market on behalf of CDI.

The Company is committed to running Arlington’s 2021 race dates from April 30 – September 25. The Company does not expect any sale of the Arlington site to close prior to the conclusion of Arlington’s 2021 race meet or that the conduct of the sale process will impact Arlington’s racing operations this year.

“Arlington’s ideal location in Chicago’s northwest suburbs, together with direct access to downtown Chicago via an on-site Metra rail station, presents a unique redevelopment opportunity. We expect to see robust interest in the site and look forward to working with potential buyers, in collaboration with the Village of Arlington Heights, to transition this storied location to its next phase,” said Bill Carstanjen, CEO of CDI. “In the meantime, we are very committed to pursuing the relocation of Arlington’s racing license to another community in the Chicagoland area or elsewhere in the state. We are exploring potential options with the State and other constituents and remain optimistic that we can find solutions that work for the State, local communities and the thousands of Illinoisans who make their living directly or indirectly from thoroughbred horse racing. We are committed to the Illinois thoroughbred racing industry and will consider all options in working toward opportunities for it to continue into the future.”

About Churchill Downs Incorporated

 

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We own and operate three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online wagering platforms for horse racing, sports and iGaming in the U.S. and we have seven retail sportsbooks. We are also a leader in brick-and-mortar casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals and 200 table games. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Will Racing Return to Balmoral Park?

“It’s one of the most unique properties in Chicagoland, and it deserves to be put back into action,” Goldberg said. “Our plans include making it a premier sports and entertainment venue that Chicagoland and the south suburbs deserve.”

Goldberg’s group signed a contract to buy Balmoral for an undisclosed price from HITS Inc., the New York-based company that has hosted show horse productions at the track the last few years.

All the new owners need now is for state lawmakers to amend the Illinois’ massive gambling expansion law to allow for racing in Crete Township. But threading that legislative needle will be no small feat, as Chicago Mayor Lori Lightfoot can attest.

And representatives for the horsemen who would work at the harness track — who pushed to include it in the new gaming law — are skeptical about the dark horse Balmoral bid.

“There’s a shroud of mystery that’s concerning,” Illinois Harness Horsemen’s Association executive director Tony Somone said. “Who is Phil Goldberg? He’s not a racetrack person, not a gaming person. We’d like to work together with this group, but we don’t really know who we’re dealing with.”

Horse racing season begins with new push for slots at tracks

COLLINSVILLE, Ill. (AP) – Another season of thoroughbred racing is beginning at Fairmount Park in southwestern Illinois, where racetrack officials hope a change in the governor’s office may bring an expansion of gambling. Fairmount opens its 90th season Tuesday. Fairmount Park President Brian Zander tells the Belleville News-Democrat (http://bit.ly/1CiOUKy ) that adding slot machines at horse…