Churchill Downs has opened its newest historical racing venue, Marshall Yards Racing & Gaming, a 23,000‑square‑foot complex located at 65 Campbell Drive in Calvert City, Kentucky. The facility, which will open to the public on February 25 2026, will house 225 historical racing machines (HRMs) alongside a sports bar, simulcast and sports wagering options, and multiple food and beverage outlets.
The $40 million investment marks Churchill Downs’ eighth premier HRM venue in Kentucky and expands its high‑margin HRM segment, a core driver of the company’s recent record growth. The new venue will also support purse funding for Oak Grove Racing, Gaming & Hotel in Oak Grove, Kentucky, reinforcing the company’s integrated approach to Kentucky racing operations.
Chief Executive Officer Bill Carstanjen said the project will create approximately 100 permanent jobs and strengthen the economic vitality of Marshall County and surrounding communities. The expansion reflects Churchill Downs’ strategy to grow its HRM footprint while leveraging its racing heritage, positioning the company to capture a larger share of the regional gaming market.
The opening comes amid a broader industry context in which analysts have raised price targets and maintained buy ratings for Churchill Downs, citing the company’s strong execution in the HRM market and the favorable outlook for regional gaming. The company has also paused some capital projects due to the current economic environment, underscoring a cautious but growth‑oriented approach.
Overall, the launch of Marshall Yards represents a significant operational milestone that enhances Churchill Downs’ competitive position, expands its revenue base, and delivers tangible benefits to the local economy.
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