Churchill Downs and Partner Get OK to Build New Kentucky Racetrack with Gambling Parlor

Churchill Downs and Keeneland will operate jointly Kentucky’s first new harness racetrack in 25 years

The Kentucky Horse Racing Commission selected on Friday Churchill Downs and Keeneland Inc. as the winning bidders for the construction of a harness racetrack and a gambling parlor in Western Kentucky. Their joint venture will be the first racetrack to be built in the state in 25 years.

Churchill Downs and Keeneland have presented a plan to jointly develop and operate a $150-million racetrack in Oak Grove in Chistian County. The latter company will only own 5% in the project.

The winning bidders will build a five-eighths of a mile racetrack that will host 12 days of standardbred races. Construction is expected to begin as early as next year. The new complex will also feature 1,500 historical racing machines. Last month, a Circuit Court Judge ruled that these machines were pari-mutuel, which made them legal under Kentucky laws that guard gambling on horse racing. Churchill Downs opened a gambling parlor with historical racing machines at its Louisville property earlier this year.

The machines have been estimated to have produced over $21 million for the state’s coffers since 2010. Churchill Downs Racetrack President Kevin Flanery told media that they expect the machines at their new property to annually generate $10 million.

The new racetrack complex will also include a 125-room hotel with an event center, food and beverage facilities, a 3,000-person outdoor amphitheater, a 1,200-person seat-grandstand with space for indoor events, and a modern equestrian center, among other facilities.

The new Oak Grove track is expected to create 800 construction jobs and 400 full- and part-time jobs once operational. The venue will be located along I-24 on the Kentucky-Tennessee border, aiming to draw visitors from Nashville.

Losing Bidders Voice Disappointment

Kentucky Downs in Franklin and Caesars-Bluegrass Downs in Paducah were the other two bidders for the new racetrack license. Both expressed disappointment and frustration with the bidding process.

News emerged earlier this week that racehorse owner Ron Winchell and former casino analyst Marc Falcone would buy a majority interest in Kentucky Downs for an undisclosed purchase price. Mr. Falcone told local media on Friday that they felt the selection process needed more time to be well thought out.

The new Kentucky Downs owners also revealed that they would enhance a previously announced expansion plan at the racetrack in order to make it more competitve now as a new player is entering the state’s horse racing field.

Comments by Caesars Entertainment executive Dan Real showed that the company was frustrated with losing the bid, arguing that Churchill Downs and Keeneland had no signed horsemen agreements and no history and relationships in the region, something the other bidders clearly had.

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First Four Flights of WSOP Circuit Planet Hollywood Event #2 Draw 334 Entries

As many as 334 entries registered into WSOP Circuit Planet Hollywood Event #2: $400 No-Limit Hold’em through first four flights; only 36 made it into Day 2

The longest event on the schedule of the ongoing WSOP Circuit Planet Hollywood series is under way and its field has already swollen to 334 entrants after four starting flights. The tournament kicked off with a guaranteed prize pool of $200,000, but with two more flights left to be played, that guarantee could and probably will be crushed.

The $400 buy-in event commenced on November 15 with two of all six starting flights. That first starting day drew 74 entries who generated a total of $24,420 in prize money. The top eight finishers of the day were to be paid a portion of the money. The players who registered into the event through Flight A were supposed to play eighteen 30-minute levels. However, if the bubble burst before the end of those eighteen levels, play was to stop. In that case the full Flight A prize pool was to be transferred to the overall prize pool.

Action wrapped with 3:15 remaining in Level 16, as that was when a player was eliminated in 9th place. Patten Lewis bagged the largest stack of Flight A, good for 215,000 in chips. The player was followed closely by Robert Fulford with 214,000. The Flight A survivors, together with the remaining hopefuls from the other five starting flights are set to return together at the host casino on Sunday at 3 pm local time for Day 2.

Flights B, C, and D

Flight B was, too, played on Thursday at the host casino. It saw 48 players register, generating a prize pool of $15,840. The top five finishers were to receive a share of the money, provided that all 18 levels were played. However, the money bubble burst deep into Level 17, so the final five players bagged and tagged for the night and the full Flight B prize pool went to the tournament’s overall prize pool.

Patrick Wall put the largest stack into his bag. The player had accumulated a total of 193,000 by the time action wrapped up on Day 1B.

Flights C and D took place yesterday at Planet Hollywood’s poker tables. The third starting flight of the tournament drew 141 entries. The top 15 players were to receive a share of the prize money generated through that flight. The plan was for the contenders to play until all 18 levels were completed or until the field was reduced to just 10 players.

All 18 levels were played on Day 1C and there were 15 players left when the clock showed the end of the starting flight. James Millman was the chip leader at the time with a hefty stack of 502,000 that also placed him on top of the overall chip counts leaderboard.

Last but not least, Flight D attracted 71 players, but only eight of them survived through all 18 levels of the day, bringing the total Day 2 count to 36 players. Steve Foutty ended Day 1D as the chip leader with 225,000 in prize money.

Action resumes today at the host venue with the final Flights E and F. Flight E is slated to kick off at noon local time with the first of 18 levels.

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Mississippi Gaming Regulator Delays Vote on Proposed Long Beach Casino Site

Gaming commissioners say they need more time to review and investigate before deciding on the proposed casino site

The Mississippi Gaming Commission decided on Thursday to postpone its vote on an application for a site approval for the construction of a casino resort at the site of Kmart in Long Beach, just north of U.S. Route 90 and east of Jeff Davis Avenue, news outlet the Sun Herald reported.

Commenting on the gaming regulator’s decision, Chairman Al Hopkins said that they have more to consider and investigate before voting on the site approval application. Commissioner Jerry Griffith said during yesterday’s meeting that delaying the site approval was not something unusual and that it gave the Commission the opportunity to review the casino proposal in detail and make sure it was following state regulations.

The regulatory body is set to meet again on December 20 in Jackson when it might eventually vote on the proposed site for the casino resort.

Developers plan to build the property on a 12-acre site previously occupied by Kmart and the Sav-A-Center grocery store. The resort will include a 40-000-square-foot casino with 1,200 slot machines and 20 table games. The gaming facility will be located within 800 feet of the mean high water line, as required under Mississippi gaming regulations.

The complex will also feature a seven-story 300-room hotel. The hotel tower will meet the city’s height restrictions, as noted by developers. Under state law, the complex will also have to include a fine dining restaurant.

First Renderings Revealed

During the Thursday meeting, developers presented gaming commissioners with the first pictures of the proposed casino resort, noting that those were only renderings and that construction documents were yet to be submitted, pending site approval by the Commission.

First news about the casino plan emerged two years ago when Long Beach Harbor Resort LLC was registered. The company which will develop the property, if it wins the necessary permissions, is headed by businessman James (Jim) Parrish. Mr. Parrish owns several businesses across South Mississippi.

While site approval is an essential step, it is only the first of many. As mentioned above, it has been two years now since the project was first introduced and it could take years before it materializes, as developers usually need quite some time to sort out site plans and secure financing.

Long Beach voters approved the construction of a casino north of U.S. 90 in a special election that took place in the summer of 2006. During yesterday’s meeting, six city residents said that they favored a gambling venue, while three were against it and two said they were neutral.

Those opposing the construction of the casino cited concerns about increased crime, traffic, and property values.

Long Beach Mayor George Bass was among those to speak in favor of the proposed casino, saying that it would have a positive impact on the city and its stagnant economy, generate millions of dollars for its schools as well as revenue for infrastructure improvements.

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