Report: Churchill Downs casino in Kentucky is off to slow start

Figures provided by the Kentucky Racing Commission, which regulates the slots-like historical horse-racing machines, show that Derby City Gaming downtown, is off to a slow start according to a report on WDRB.com. Numbers for the $90 million downtown Louisville, Ky facility, Churchill Downs Inc’s newest gaming venture, were one-quarter of the revenue per machine between Dec. 6 and March 31 as the original location south of downtown Louisville next to the Trackside Training Center.

The figures show that Derby City Gaming downtown produced the least amount of revenue from historical racing machines of the 12 gaming venues in Kentucky during its first four months of operation despite being in the heart of the most populated city in the state with the exception of December. Racing in Kentucky has benefited in recent years from the significant boost purse money has received from revenue generated by historical racing.

Churchill Downs Inc. officials said the disappointing numbers were not unexpected and are looking forward to them increasing over the summer at the peak of tourism and convention season.

"We thought it would start relatively modestly because a big component of its business is going to be driven by tourism and downtown traffic," Churchill Downs CEO Bill Carstanjen told analysts on the company's April 25 earnings call. "And opening in December and the height of winter in Louisville is not the ideal time to open. So, what we're seeing is pretty consistent ramping ... Let's get some of the spring and summer months under our belts and then we can really have a much better sense of what to expect in the long term."