Keeneland announces major racing, gambling expansion with new partners
Even as Keeneland is holding racing meets without spectators in the midst of a pandemic, the track is announcing plans to go forward with a major expansion.
In a news release, Keeneland said the Lexington track and auction company is partnering with the majority owners of Kentucky Downs in Franklin to apply for a racing license to build a harness track in Corbin.
They also plan to build a “related track extension,” a gambling parlor, in Williamsburg. The track in Corbin also would have gambling machines, known as historical racing machines.
Vince Gabbert, Keeneland vice president, said they are anticipating a total of about 400 to 500 machines, with the bulk of them being in Williamsburg.
The growth in wagering in Kentucky “is absolutely there,” Gabbert said. “And as we’ve seen with other facilities on the border, about 70 to 75 percent of the customer base is coming from Tennessee. We expect to see similar numbers in southeast Kentucky. And we hope by the time the facilities are up and running the pandemic will be over.”
He said they hope the Kentucky Horse Racing Commission will award dates for next year and they can begin construction in 2021 with an eye to bringing in more revenue for state and local authorities and for racing.
“Keeneland has dedicated resources to this region and project for many years and we look forward to working alongside our partners at Kentucky Downs to bring this project to life,” Keeneland President and CEO Bill Thomason said in the release. “This project will strengthen Kentucky’s vital horse industry and positively impact the Commonwealth and the local communities by stimulating significant economic growth, generating hundreds of new jobs and enhancing tourism and hospitality.”
This would be at least the third attempt by Keeneland to put a track south of Lexington along I-75. A previous plan called for quarterhorse racing, but the new plan is for standardbred or harness racing.
Gabbert said they hope to race in early summer, augmenting the existing Kentucky harness circuit and leading into the Red Mile’s summer meet in Lexington.
In 2017, Keeneland and Churchill Downs jointly filed plans to build the Corbin track as well as one in Oak Grove, near Fort Campbell. While the $200 million Fort Campbell track and gambling parlor eventually came to fruition, the Corbin facility stalled.
The Oak Grove gaming floor, restaurants and event center opened to the public on Sept. 18. The property will run its second season of live harness racing later this fall.
The Kentucky Downs owners, Marc Falcone and Ron Winchell, had objected to the plan for Oak Grove, which they said would siphon business away from Kentucky Downs, a Thoroughbred racetrack that holds only a handful of racing days each year. But Kentucky Downs recently announced record wagering at its meet and has expanded its gambling floor.
Now they have partnered with Keeneland on the new bid, which must be approved by the Kentucky Horse Racing Commission before it can move forward.
“Horse racing is an extremely vital part of the Commonwealth’s economy,” Winchell said in the release. “With the addition of a new racetrack and related amenities in southeastern Kentucky, it will help to continue the momentum we have created for the state and our industry in recent years.”
The mayors of Corbin and of Williamsburg were not immediately available for comment. In the release, they welcomed the investments in their communities.
“Corbin is thrilled to be a part of this endeavor,” Corbin Mayor Suzie Razmus said in the release. “The new racing facility will be a welcome addition to our city’s already long list of sites and attractions for local residents and visitors.”
“We are proud of the significant investment this partnership is committed to making in our community, and are excited to see the infusion of tourism, economic development and new jobs it will bring to Williamsburg and Whitley County,” Williamsburg Mayor Roddy Harrison said in a statement.
The announcement comes a little over a month after the Kentucky Supreme Court heard arguments on whether historical wagering is legal. The court has yet to release a ruling.
This story was originally published September 21, 2020 at 2:56 PM.
