Churchill Downs Incorporated opened its eighth historical racing machine venue, Marshall Yards Racing & Gaming, in Calvert City, Kentucky. The 23,000‑square‑foot complex houses 225 state‑of‑the‑art HRMs, a retail sportsbook, simulcast wagering, and a full range of food and beverage options.
The project, estimated to cost between $40 million and $50 million, is a strategic expansion that supports purse funding for Oak Grove Racing, Gaming & Hotel’s racing meet in Oak Grove. The venue’s opening marks the company’s continued capital‑efficient growth in the HRM market and reinforces its presence in southwestern Kentucky.
CEO Bill Carstanjen said the new venue is part of Churchill’s broader plan to build destination experiences that generate local economic opportunities and strengthen the Derby’s brand legacy. The investment reflects the company’s confidence in the long‑term appeal of historical racing and its commitment to creating regional attractions.
The opening underscores Churchill’s record performance in the HRM segment, which has delivered 21 consecutive quarters of record growth and high margins. The company’s focus on scale and operational efficiency has allowed it to expand its footprint while maintaining profitability.
The venue’s debut coincides with the release of Churchill Downs’ Q4 2025 earnings, highlighting the company’s ability to combine operational milestones with strong financial reporting.
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