Huge Interest in Purchasing Illinois Arlington Racetrack; New Casino Likely to Emerge

Another promising Churchill Downs and building a casino on its grounds.

More About Expansion

Illinois has recently authorized the gambling expansion all around the state. As part of the project, it was perceived that Churchill Downs becomes a racino. The plan has just been changed as Illinois Thoroughbred Horsemen’s Association disclosed that two groups are interested in purchasing the 92-year-old track and talks are already going on. At the moment, it is known that at least one group is taking part in negotiation with Churchill track owners.

Commenting on the possible purchase, Association president, said:

“They have the ability and wherewithal to pull it off if, in fact, Churchill has no desire to fulfill the intent of the law.”

Churchill Downs Idea

As soon as the governor approved the Expansion Bill, Churchill announced that it wouldn’t continue with the installation of table games and slots in the Arlington venue. This news was more than disappointing for the state giving that racino has been seen as a potential savior for the Illinois horse racing industry. However, Churchill Downs CEO, Bill

Carstanjen mentioned:

“High taxes and a hyper-competitive gambling market make it an untenable investment.“

President of Illinois Thoroughbred Horsemen’s Association, Mike Campbell, said that he was approached by two groups which expressed interested in buying Arlington racino. According to his words, one of the potential investors has “a great deal of experience” in horse racing.

Commenting on the Churchill decision, Campbell said:

“If Churchill is not going to utilize their license, they should move over. We would welcome a new owner of Arlington. The important thing is finding someone with money. Both [prospective buyers] clearly have the interest and resources.”

Even the governor Pritzker’s office reacted on Churchill Downs’s decision. They issued the notice:

“This is a significant reversal from the years and years of race track owners seeking additional ways to generate revenue to keep their operations working.”

It added:

“In fact, the gaming legislation provides several opportunities for significant additional revenues, including table games and slots,” the governor’s office said then. “Just as importantly, the legislation allows the racing industry to flourish instead of facing more years of decline. Just to be clear: actions taken around gaming will be done to benefit the people of Illinois, not solely for the bottom line of individual operators.”

Expectations

The horse season in Arlington begins on May 1. Following the new season, Illinois Thoroughbred Horsemen’s Association granted 68 dates to Arlington despite ongoing troubles with Churchill Downs’s decision. Association president said:

“It’s 50-50 whether there’ll be any racing at all this year at Arlington.“

At the moment, horse owners and trainers are looking for $200,000 in purse money per day. However, Churchill won’t move from a daily limit of $130,000.

Campbell concluded:

“We held on thinking that a casino at the racetrack was going to make a difference for us. Now, that’s unlikely.”

Source:

“Illinois: at least two groups interested in buying and adding a casino“, yogonet.com, January 15, 2020.