Churchill Downs and Keeneland Break Ground on $150 Million Racing Venue in Oak Grove, Kentucky

Rendering of equestrian center at Oak Grove Racing & Gaming

Oak Grove Racing & Gaming Will Feature Both Live and Historical Horse Racing

LOUISVILLE, Ky. (April 9, 2019) – Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN), in partnership with Keeneland Association (“Keeneland”), broke ground today on a $150 million, state-of-the-art, live and historical horse racing venue in Oak Grove, Kentucky. CDI and Keeneland also unveiled the name and branding for the venue, which will be called Oak Grove Racing & Gaming.

The new facility will be constructed in two overlapping phases. The first phase will include the development and construction of the harness race course, overnight stable facility and race-day paddock stable facility which will be completed in time for our inaugural live race meet in October 2019. The second phase of the project, scheduled to open in the first half of 2020, will feature up to 1,500 historical horse racing machines; a 128-room hotel; a grandstand with seating capacity for 1,200 and event space for indoor events; a 3,000-person capacity outdoor amphitheater and stage; an equestrian center including indoor and outdoor arenas as well as a 30 pad RV park.

“Horse racing is an integral part of Kentucky’s history and culture, and Churchill Downs is thrilled to further invest in our state’s signature industry through Oak Grove Racing & Gaming,” Churchill Downs Racetrack President Kevin Flanery said. “We have seen the tremendous impact Derby City Gaming in Louisville has already had on both the racing industry and local community, and we expect the same degree of success here in Christian County.”

“Keeneland is proud to play a role in strengthening the Commonwealth’s horse racing industry and creating new opportunities for horsemen and racing enthusiasts in Kentucky and beyond,” Keeneland Vice President and Chief Operating Officer Vince Gabbert said. “The jobs, tourism, and revenue generated by Oak Grove Racing & Gaming is good news, not just for Christian County, but for all of Kentucky. A win for horse racing is a win for us all.”

Oak Grove Racing & Gaming is the only venue of its kind in Kentucky and will be a welcome addition to Christian County. The facility is expected to create nearly 400 direct full- and part-time equivalent positions and an estimated 800 direct construction jobs. More information regarding job fairs and hiring will be released in the coming months.

In December 2018, CDI and Keeneland announced they had been awarded a racing license by the Kentucky Horse Racing Commission for twelve live Standardbred racing dates in 2019 at Oak Grove. The new venue replaces important Standardbred racing opportunities lost due to the closure of Thunder Ridge Park in eastern Kentucky.

About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN), headquartered in Louisville, Ky., is an industry-leading racing, gaming and online entertainment company anchored by our iconic flagship event – The Kentucky Derby. We own and operate the largest legal online horseracing wagering platform in the U.S., through our TwinSpires business. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and VLTs and approximately 200 table games in eight states after our acquisition of a majority interest in Rivers Casino in Des Plaines, Illinois and the Lady Luck Nemacolin transaction. In August 2018, we launched our BetAmerica Sportsbook at our two Mississippi casino properties and have announced plans to enter additional U.S. sports betting and iGaming markets. Derby City Gaming, the first historical racing machine (“HRM”) facility in Louisville, Kentucky, was opened in September 2018 with 900 HRM machines.

About Keeneland Association Inc.
For more than 80 years, the Keeneland Association has devoted itself to the health and vibrancy of the Thoroughbred industry. As the world’s largest Thoroughbred auction company, Keeneland conducts sales every January, September and November. Its sales graduates dominate racing across the globe at every level. In April and October, Keeneland offers some of the highest caliber and richest Thoroughbred racing in the world. In 2015, Keeneland hosted the Breeders’ Cup World Championships. Uniquely structured, Keeneland is a private, for-profit corporation that returns its earnings to the industry and the community in the form of higher purses, and it has donated millions of dollars in charitable contributions for education, research and health and human services throughout Central Kentucky. To learn more about Keeneland, visit Keeneland.com.