Churchill Downs Incorporated Reveals Grandstand Club and Pavilion Renovation Plan for Churchill Downs Racetrack
Churchill Downs Incorporated (CDI) has announced an $80-$90 million renovation project for the grandstand at Churchill Downs Racetrack. The project, set to debut for the 151st Kentucky Derby in May 2025, will update ticketed seating options and improve amenities for all guests in the grandstand area. Key features include:
1. Grandstand Club: Transformation of outdoor aluminum bleachers into 8,300 new comfortable seating options, including covered and uncovered stadium-style seats and rail boxes along the dirt track's outer rail.
2. Grandstand Pavilion: Conversion of the second-floor amenity area into a covered outdoor garden environment with new concessions, bars, and wagering windows.
3. Improvements to 2,800 existing third-floor box seats under the Starting Gate Suites.
Construction is scheduled to begin in August 2024. The renovation aims to provide unique guest seating options while honoring the historic significance of the property.
Churchill Downs Incorporated (CDI) ha annunciato un progetto di ristrutturazione da 80-90 milioni di dollari per la tribuna presso Churchill Downs Racetrack. Il progetto, che debutterà per il 151° Kentucky Derby nel maggio 2025, aggiornerà le opzioni di posti a sedere e migliorerà i servizi per tutti gli ospiti nell'area della tribuna. Le caratteristiche principali includono:
1. Grandstand Club: Trasformazione delle tribune in alluminio esterne in 8.300 nuove opzioni di posti a sedere confortevoli, comprese seggiolate coperte e scoperte in stile stadio e box lungo la ringhiera esterna della pista in terra battuta.
2. Grandstand Pavilion: Conversione dell'area servizi al secondo piano in un ambiente da giardino all'aperto coperto con nuove concessioni, bar e finestre di scommesse.
3. Miglioramenti a 2.800 posti a box esistenti al terzo piano sotto i Starting Gate Suites.
I lavori di costruzione sono programmati per iniziare nell'agosto 2024. La ristrutturazione mira a fornire opzioni di posti a sedere uniche per gli ospiti, onorando al contempo l'importanza storica della proprietà.
Churchill Downs Incorporated (CDI) ha anunciado un proyecto de renovación de 80 a 90 millones de dólares para la tribuna en Churchill Downs Racetrack. El proyecto, que debutará en el 151° Kentucky Derby en mayo de 2025, actualizará las opciones de asientos y mejorará las comodidades para todos los invitados en el área de la tribuna. Las características clave incluyen:
1. Grandstand Club: Transformación de las gradas de aluminio exteriores en 8,300 nuevas opciones de asientos cómodos, que incluyen asientos en estilo estadio cubiertos y descubiertos, y cajas de raíl a lo largo del raíl exterior de la pista de tierra.
2. Grandstand Pavilion: Conversión del área de servicios en el segundo piso en un entorno de jardín al aire libre cubierto con nuevas concesiones, bares y ventanillas de apuestas.
3. Mejoras a 2,800 asientos en box existentes en el tercer piso bajo los Starting Gate Suites.
La construcción está programada para comenzar en agosto de 2024. La renovación tiene como objetivo proporcionar opciones de asientos únicas para los invitados, mientras se honra la importancia histórica de la propiedad.
Churchill Downs Incorporated (CDI)는 Churchill Downs 경마장에서 8천만에서 9천만 달러 규모의 리노베이션 프로젝트를 발표했습니다. 이 프로젝트는 2025년 5월 151회 켄터키 더비에 맞추어 공개되며, 관람석 옵션을 업데이트하고 모든 손님을 위한 편의 시설을 개선할 것입니다. 주요 특징은 다음과 같습니다:
1. Grandstand Club: 야외 알루미늄 관람석을 8,300개의 새로운 편안한 좌석 옵션으로 변환하여, 덮개가 있는 좌석과 덮개가 없는 스타디움 스타일 좌석, 그리고 흙 트랙 외부 레일을 따라 위치한 박스 좌석을 포함합니다.
2. Grandstand Pavilion: 2층 편의시설 지역을 새로운 매점, 바 및 베팅 창구가 있는 덮인 야외 정원 환경으로 변환합니다.
3. Starting Gate Suites 아래에 있는 기존 2,800개의 3층 박스 좌석 개선.
공사는 2024년 8월에 시작될 예정입니다. 이번 리노베이션은 손님들에게 독특한 좌석 옵션을 제공하면서도 이 장소의 역사적 중요성을 존중하는 것을 목표로 하고 있습니다.
Churchill Downs Incorporated (CDI) a annoncé un projet de rénovation de 80 à 90 millions de dollars pour la tribune du Churchill Downs Racetrack. Le projet, dont le lancement est prévu pour le 151e Kentucky Derby en mai 2025, mettra à jour les options de places assises et améliorera les commodités pour tous les invités dans la zone de la tribune. Les caractéristiques principales incluent :
1. Grandstand Club: Transformation des gradins en aluminium extérieurs en 8 300 nouvelles options de places assises confortables, y compris des sièges de style stade couverts et non couverts, ainsi que des boxes le long de la barrière extérieure de la piste en terre.
2. Grandstand Pavilion: Conversion de la zone de services au deuxième étage en un jardin extérieur couvert avec de nouveaux stands de restauration, bars et fenêtres de paris.
3. Améliorations de 2 800 sièges de loge existants au troisième étage sous les Starting Gate Suites.
Les travaux de construction doivent commencer en août 2024. La rénovation vise à offrir aux invités des options de places uniques tout en honorant l'importance historique de la propriété.
Churchill Downs Incorporated (CDI) hat ein Renovierungsprojekt im Wert von 80 bis 90 Millionen US-Dollar für die Tribüne auf der Churchill Downs-Rennbahn angekündigt. Das Projekt, das zur 151. Kentucky Derby im Mai 2025 vorgestellt werden soll, wird die Sitzoptionen aktualisieren und die Annehmlichkeiten für alle Gäste im Bereich der Tribüne verbessern. Wichtige Merkmale sind:
1. Grandstand Club: Umgestaltung der äußeren Aluminium-Blocktribünen in 8.300 neue komfortable Sitzmöglichkeiten, einschließlich überdachter und nicht überdachter Stadion-Stil-Sitze sowie Boxen entlang der äußeren Begrenzung der Rennbahn.
2. Grandstand Pavilion: Umwandlung des Servicebereichs im zweiten Stock in eine überdachte Gartenumgebung im Freien mit neuen Verkaufsständen, Bars und Wettfenstern.
3. Verbesserungen an 2.800 bestehenden Logenplätzen im dritten Stock unter den Starting Gate Suites.
Der Baubeginn ist für August 2024 geplant. Die Renovierung zielt darauf ab, den Gästen einzigartige Sitzmöglichkeiten zu bieten und zugleich die historische Bedeutung des Geländes zu würdigen.
- Investment of $80-$90 million in facility improvements
- Addition of 8,300 new comfortable seating options
- Upgrade of amenities for 2,800 existing box seats
- Creation of new concessions, bars, and wagering windows
- Potential for increased revenue from improved guest experience
- Significant capital expenditure may impact short-term financial performance
- Potential disruption to operations during construction period
LOUISVILLE, Ky., July 24, 2024 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today an
The renovation of the Grandstand Club will transform existing outdoor aluminum bleachers into a combination of 8,300 new comfortable seating varieties. Updated seating options will include covered and uncovered stadium-style seats as well as rail boxes along the dirt track’s outer rail that will offer a “trackside” seating experience where guests will be able to closely watch horses break from the Kentucky Derby Starting Gate. First-floor amenities for the Grandstand Club will include new and upgraded permanent concessions, bars and wagering windows.
The Grandstand Club will transform existing bleachers to stadium-style seats and rail boxes.
The project will also considerably improve and add amenities for 2,800 guests in the existing third floor box seats under the Starting Gate Suites. The Grandstand Pavilion will create a more upscale social environment by converting the existing second-floor amenity area into a covered outdoor garden environment with new concessions, bars and wagering windows. Expansion to the second floor will create additional space for overall guest circulation and add an outdoor balcony for added dining seats. A new stately entrance to the Grandstand Pavilion will unify the surrounding exterior architecture.
The Grandstand Pavilion will be a covered outdoor garden environment featuring updated finishes, new concessions, bars and wagering windows.
“Like all of our recent enhancements at Churchill Downs, the renovation of the grandstands represents our commitment to providing unique guest seating options while honoring the historic significance of the property in order to achieve a world class sports and entertainment experience for our guests,” said Mike Anderson, President of Churchill Downs.
For more information on purchasing options for the Grandstand Club and Pavilion, sign up for the online sale at KentuckyDerby.com or call (502) 636-4447 for additional purchasing options including personal seat licenses.
About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) has been creating extraordinary entertainment experiences for over 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. www.churchilldownsincorporated.com/
This news release contains various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” “scheduled,” and similar words or similar expressions (or negative versions of such words or expressions), although some forward-looking statements are expressed differently.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, that could cause actual results to differ materially from expectations include the following: the occurrence of extraordinary events, such as terrorist attacks, public health threats, civil unrest, and inclement weather, including as a result of climate change; the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit, including the impact of inflation; additional or increased taxes and fees; the impact of any pandemics, epidemics, or outbreaks of infectious diseases, including possible new variants of COVID-19, and related economic matters on our results of operations, financial conditions and prospects; lack of confidence in the integrity of our core businesses or any deterioration in our reputation; loss of key or highly skilled personnel, as well as general disruptions in the general labor market; the impact of significant competition, and the expectation that competition levels will increase; changes in consumer preferences, attendance, wagering, and sponsorships; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine and historical racing machine (HRM) manufacturing and other technology conditions that could impose additional costs; failure to enter into or maintain agreements with industry constituents, including horsemen and other racetracks; inability to successfully focus on market access and retail operations for our TwinSpires sports betting business and effectively compete; online security risk, including cyber-security breaches, or loss or misuse of our stored information as a result of a breach including customers’ personal information could lead to government enforcement actions or other litigation; reliance on our technology services and catastrophic events and system failures disrupting our operations; inability to identify, complete, or fully realize the benefits of our proposed acquisitions, divestitures, development of new venues or the expansion of existing facilities on time, on budget, or as planned; difficulty in integrating recent or future acquisitions into our operations; cost overruns and other uncertainties associated with the development of new venues and the expansion of existing facilities; general risks related to real estate ownership and significant expenditures, including risks related to environmental liabilities; personal injury litigation related to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or other similar laws and regulations, or applicable anti-money laundering regulations; payment-related risks, such as risk associated with fraudulent credit card or debit card use; work stoppages and labor problems; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions in our debt facilities limiting our flexibility to operate our business; failure to comply with the financial ratios and other covenants in our debt facilities and other indebtedness; increases to interest rates (due to inflation or otherwise), disruption in the credit markets or changes to our credit ratings may adversely affect our business; increase in our insurance costs, or inability to obtain similar insurance coverage in the future, and any inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; and other factors described under the heading “Risk Factors” in our most recent Annual Report on Form 10-K and in other filings we make with the Securities and Exchange Commission.
We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
| Investor Contact: Sam Ullrich (502) 638-3906 Sam.Ullrich@kyderby.com | Media Contact: Tonya Abeln (502) 386-1742 Tonya.Abeln@kyderby.com |
Photos accompanying this announcement are available at:
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FAQ
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