Churchill Downs Incorporated Celebrates Construction Milestone of Terre Haute Casino Resort
$290 Million Investment will Include Casino, Hotel and Event center
LOUISVILLE, KY., (June 14, 2023) – Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) this week celebrated the “Topping Off” of Terre Haute Casino Resort (“Terre Haute” or the “Development”). The $290 million development will include a 400,000-square-foot facility located on approximately 49 acres on East Margaret Drive just west of State Road 46 in Terre Haute, Indiana. CDI executives were joined by the Wilhelm Construction team, elected officials, local community leaders and Terre Haute senior leadership to celebrate the construction milestone by signing the final beam before it was placed atop the hotel tower.
Speakers at the ceremony included Indiana Senator, Jon Ford; Terre Haute Mayor, the Honorable Duke Bennett; President of Wilhelm Construction, Phil Kenney; and Mike Rich, VP & General Manager of Terre Haute.
“This is really an exciting time for Churchill Downs Incorporated.” said Mike Rich, VP and General Manager of Terre Haute. “I want to thank Wilhelm Construction for their hard work and dedication to going the extra mile. They have been a tremendous partner as we look to build a regional destination that is unique in its offerings in the state of Indiana.”
Expected to open in spring 2024, Terra Haute will be a regional entertainment destination featuring a 122-room luxury hotel, event center, 1,000 slot machines, 35 live table games, poker room, state-of-the-art TwinSpires sports book and 11 food and beverage offerings including a steakhouse. The development is expected to generate 1,000 construction jobs and a mix of 500 full and part-time jobs
For more information on Terre Haute Casino Resort, visit https://www.terrehautecasino.com/
About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 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.
About Terre Haute Casino Resort
Expected to open in the Spring of 2024, Terre Haute Casino Resort (“Terre Haute”) will be a premier regional entertainment destination. Located in East Davies County, Indiana, Terre Haute will be a 400,000-square-foot facility featuring a 122-room luxury hotel, event center, 1,000 slot machines, 35 live table games, poker room and state-of-the-art TwinSpires sports book. The property will also feature 11 food and beverage offerings including the regionally inspired Four Cornered Steakhouse and Altitude Bar and Lounge. https://www.terrehautecasino.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,” and similar words or similar expressions (or negative versions of such words or expressions).
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, among others, that may materially affect actual results or outcomes 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 the novel coronavirus (COVID-19) pandemic, including the emergence of variant strains, 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 disruptions in the general labor market; the impact of significant competition, and the expectation the 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 or 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 and Casino 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; reliance on our technology services and catastrophic events and system failures disrupting our operations; inability to identify and / or complete, or fully realize the benefits of 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 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.
