Earlier this week, Churchill Downs Incorporated (CDI) announced it is working on selling Arlington Park, all 326 acres of land connected to the Arlington International Racecourse. CBRE is bringing the property to the market for CDI.
The 2021 race dates scheduled from April 30-September 25 will continue. CDI does not expect that the Arlington site will sell before the race season is completed.
A New Location
The purpose of the sale is to provide a new location for the Arlington racing license and redevelop the location. Bill Carstanjen is the CEO of CDI who stated that the location of the Arlington racetrack in the northwest suburbs of Chicago is ideal for redevelopment.
It provides access to the downtown area of Chicago, via the Metro rail station that is on-site. Because of this, CDI feels that there will be much interest in the location by potential buyers.
CDI will look to move the racing license to another area of Chicagoland or possibly elsewhere in Illinois. Carstanjen reported that the company is currently reviewing potential options and remains optimistic that they will be able to work with the state and find a solution that works. The company remains committed to the thoroughbred racing industry and is going to consider all options when it comes to continued racing in the state.
Focus on Sports Betting
Over the past few months, Churchill Downs Incorporated has been focused on its sports betting services. In January, the company received approval to start offering online sports betting to players located in Tennessee. CDI was certified not long after other brands were approved in the state, including DraftKings and FanDuel.
Just days later, CDI announced it was dropping its BetAmerica brand and relaunching its online services via the TwinSpires brand. The single brand strategy started in Michigan and will continue to see a transition to the new brand in other states.
CDI already offers online sports betting in Mississippi, Indiana, Pennsylvania, Colorado, and New Jersey. The change in brands will take place during the first half of this year. Brand recognition and history were the key points behind the decision to change from BetAmerica to TwinSpires.
Going back a little further, CDI opened up its new racing property in northern Kentucky in October 2020. The Newport Racing & Gaming facility has been serving customers for a few months now, operating as an extension of the Turfway Park license.
This new facility offers 500 historical racing machines and self-service kiosks for simulcast wagering on horse races from across the United States.