Churchill Downs Not High On Its Future At Arlington International Racecourse

The writing about the Arlington track sale that has been on the walls for months ultimately has a voice behind it. It & rsquo is now more certain than ever that Arlington Heights won’t be the location of ChurchillDowns’ operation if it’s to operate a & ldquo, racino, in Illinois.

That speech was given by the CEO of Churchill Downs, Bill Carstanjen. However, the fate of Arlington International Racecourse remains uncertain.

What Carstanjen said regarding a potential purchase of Arlington racetracks

During a recent earnings call for the company, Carstanjen confirmed the suspicions of many that Churchill Downs does not have ambitious plans for its future at the racecourse. Carstanjen stated:

According to & ldquo, that land is destined for a greater purpose, though we aim to collaborate efficiently with all market participants to explore the possibility of altering the license or the circumstances to keep racing alive in Illinois. We & rsquo have exhibited patience, consideration, and assistance with the concerned parties, but ultimately, that land will have to be sold and the license transferred if it’s to survive in the long run. & rdquo.

It seems that it’s only a matter of time before Churchill Downs leaves its home base. Indications of this surfaced last September.

Churchill Downs made a surprising announcement that they would not pursue a casino gaming license at Arlington, a stark reversal considering their decades of lobbying for precisely that privilege.

Carstanjen mentioned the current tax rate for table games, slots, and casino. He voiced doubts about a racino’s capability to generate sufficient revenue to cover expenses, let alone make a profit.

According to the recent Carstanjen offer, Churchill Downs is reportedly exploring other options. While there is a clear alternative, the decision isn’t entirely in the hands of Churchill Downs.

Institutions of the condition and cities have not yet weighed in.

Churchill Downs is eyeing Waukegan, another area in Illinois. The city forwarded three casino gaming license applications, including one for Churchill Downs, to the Illinois Gaming Board (IGB) for review.

However, the board only reviews one license. It is not guaranteed that the IGB & rsquo will select Churchill Downs. Furthermore, there & rsquo is no definite timeline for this decision.

The other two candidates are North Point Casino and Full House Resorts.

NeilBluhm, who is the CEO of Rush Street Gaming and the owner of RiversCasino in Des Plaines, is involved in the bid of Churchill Downs & rsquo.

The subsequent concern is whether the horse racing enterprises would transfer to Waukegan. However, this is not an issue as Churchill Downs has the state’s permission to relocate.

However, a potential issue could be Waukegan itself. According to Mayor Sam Cunningham, there hasn’t been any conversation regarding horse racing in the city. Cunningham stated:

It would be unwise to ignore a proposal from a trustworthy developer in any financial context. However, a racino? Our primary concern presently should be to help our citizens navigate these challenging times, with the hope of a brighter future. A new game is expected to launch in the upcoming season.

It’s uncertain whether Churchill Downs would sell the Arlington property prior to finalizing all plans for Waukegan. The best course of action, should the IGB issue the certificate to a competitor, is also a matter of debate.

What happens if Waukegan doesn’t operate out?

Reports in January indicated that two parties expressed interest in the Arlington racecourse. However, it was further reported that Churchill Downs rejected these inquiries.

The reason for this neutrality should be obvious. Without the necessary infrastructure, providing horse racing is impossible. This could potentially affect Churchill Downs’ ability to shift its driving license to Waukegan.

Churchill Downs has so far only submitted an application for a game registration in Waukegan. Even though the latest wave of betting expansion permits the establishment of six new casinos in different areas of Illinois, it is still too premature to file the required paperwork.

It seems that all of Churchill Downs’ funding originates from Waukegan. If the “horse” doesn’t run, it could potentially place the company in an undesirable situation.