Ellis Park Receives $167M Casino Approval from Kentucky Regulators

Ellis Park Receives $167M Casino Approval from Kentucky Regulators

The Kentucky Horse Racing Commission approved a non-contiguous racing license on Tuesday.

More on the casino

The location of the $16.7 million casinos is to be located in the Town Square Mall development. It is a location on the main business street in an already existing building. The construction of the project is expected to begin in early 2022. The casino is expected to open in early 2023.

The Ellis Park Owensboro venue that is over 60,000 square feet is planned to open initially with about 600 horse racing machines. A simulcast, a viewing and betting area, as well as a sports-themed restaurant, is also expected to be at the venue. In addition to this, a new facility will feature a stadium-style race and sports-themed restaurant. It will also feature a grill that is expected to offer a unique experience in Western Kentucky.

Ellis Park has sought approval since concerns started as regards management of the track by Laguna Development Corp. Laguna, the business development arm of the Laguna Pueblo tribe of New Mexico acquired Ellis in 2019 for $11 million. It had stated that would spend $100 million on improvements to the track as well as the construction of a new hotel.

Slow investment in Ellis

Tim Perkins, COO of Laguna has informed the Commissioners that the cash flow of the company had slowed down on account of the shutdowns on account of the COVID-19 pandemic as well as the closure of two casinos that it owned in New Mexico. This has had the effect of lesser investment in Ellis according to the company.

Perkins further stated that the company has reached a deal wherein a deal has been reached as regards a new line of credit that could be used to fund the build-out of the casino at Owensboro. Also, $15 million would be spent on renovations to Ellis Park over the next few years.

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Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.