Churchill Downs plans $920M Kentucky Derby expansion
Key Takeaways
Churchill Downs Incorporated is planning a major $920 million expansion to enhance the Kentucky Derby experience. Completion is scheduled for 2028, just in time for the 154th edition of the race. The measures include new seating, premium hospitality offerings, and infrastructure improvements.
Phased Implementation Until 2028
The expansion will be carried out in phases between 2025 and 2028. The first phase begins in 2025 with a $130 million investment. A key component is the Skye project, which will replace 11,500 uncovered box seats with 13,300 premium seats. A new five-story structure will replace the existing Skye Terrace, extending from the finish line to the First Turn Club. The first sections are expected to be completed by the 153rd Kentucky Derby in 2027, with full completion planned for 2028.
Modernization of the Infield Area
The Conservatory project aims to transform the infield area significantly. Temporary suites will be replaced with permanent structures, increasing premium hospitality seating from 2,100 to 7,000. The first phase will start in May 2026 with the Pagoda Club, a redesigned conservatory building featuring suites, rooftop terraces, and the Stargazer Lounge near the first turn. Additional construction phases will follow along the homestretch and will be completed by 2028.
Improved Infrastructure and New Tunnels
Three permanent buildings with enhanced amenities and rooftop terraces will be built for general admission visitors. The first building is set to open in 2026, with additional openings in 2027 and 2028. Additionally, a new tunnel to the infield will be constructed to improve accessibility and showcase the 150-year history of the Kentucky Derby. Facilities for horse owners and trainers will also be upgraded.
Long-Term Vision for the Kentucky Derby
Churchill Downs CEO Bill Carstanjen emphasizes the long-term significance of these investments. The goal is to provide top-tier hospitality and premium seating options for decades to come. In parallel, a separate $90 million renovation of the Grandstand is underway, set to be completed before the 2025 Kentucky Derby. Final project approvals are still pending, but these initiatives aim to secure the Kentucky Derby’s future as a premier global event.
Our Assessment
The planned expansion demonstrates Churchill Downs’ long-term commitment to enhancing the appeal of the Kentucky Derby. Improved seating options, modernized hospitality areas, and upgraded infrastructure are expected to significantly enhance the race-day experience for visitors. The phased implementation minimizes disruptions during ongoing events. If financing and approvals proceed as planned, the Kentucky Derby in 2028 will take place in a significantly enhanced setting.
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