{"id":223301,"date":"2022-07-26T19:28:49","date_gmt":"2022-07-27T00:28:49","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=223301"},"modified":"2022-07-26T20:49:58","modified_gmt":"2022-07-27T01:49:58","slug":"kentucky-awards-license-for-revolutionary-racings-55m-quarter-horse-track","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/kentucky-awards-license-for-revolutionary-racings-55m-quarter-horse-track\/","title":{"rendered":"Kentucky Awards License for Revolutionary Racing’s $55M Quarter Horse Track"},"content":{"rendered":"

Quarter horse racing is coming to Kentucky. On Tuesday, the state\u2019s Horse Racing Commission (KHRC) voted unanimously to approve Revolutionary Racing\u2019s application to build a $55 million track in Ashland.<\/p>\n

\"Revolutionary<\/a>
An aerial view of the 177-acre site where Revolutionary Racing plans to build a $55 million quarter horse racing track and equine center near Ashland, KY. The Kentucky Horse Racing Commission on Tuesday approved a license for the project. With it, all nine of the state’s racing licenses have been awarded. (Image: Revolutionary Racing)<\/figcaption><\/figure>\n

Groundbreaking is expected to occur later this year.<\/p>\n

With the award, all nine of Kentucky\u2019s racing licenses have now been awarded. Besides being the first quarter horse track in the state, it\u2019ll also be the first track in the northeastern part of the state.<\/p>\n

Revolutionary Racing comes to Ashland after working with Peninsula Pacific Entertainment<\/a> to revive Colonial Downs in Virginia three years ago.<\/p>\n

There’s a proven playbook and an appropriate term: This is not our first rodeo,\u201d <\/strong>Revolutionary Racing Chairman Larry Lucas told Casino.org<\/em> after the KHRC meeting in Lexington. \u201cWe plan on using that expertise to execute and make it highly profitable for us and for the other stakeholders, including the horsemen and the\u00a0 commonwealth.\u201d<\/strong><\/p><\/blockquote>\n

The commission\u2019s approval comes just a month after an informal presentation. Lucas, other members of the Revolutionary Racing team, and officials from Boyd County answered questions about their project at the KHRC\u2019s June 21 meeting.<\/p>\n

HHR Parlor Also Planned<\/h2>\n

Along with the track license, Revolutionary Racing will also get the ability to offer historical horse racing<\/a> (HHR) machines. They are gaming machines that look like slot machines. However, each wager is based on the outcome of previously run races rather than a random number generator.<\/p>\n

There are more than 5,500 HHR machines at Kentucky tracks and satellite facilities across the state. The rise of HHR over the past decade has been credited with improving the quality of horse racing in the state and positioning Kentucky as a top year-round racing market.<\/p>\n

\u201cWe will fast track both of them,\u201d Lucas said of both the track and the HHR parlor. \u201cBut it\u2019s in everybody\u2019s best interest, especially the racing community, that we get the HHR facility up sooner than later.\u201d<\/p>\n

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HHR machines are also very profitable. The seven tracks and HHR satellite facilities won $54.9 million out of $633.4 million wagered in May. After taxes and payments to breeding development funds, the tracks cleared $45.5 million.<\/p>\n<\/div>\n

Revolutionary Racing plans to build its HHR facility at an old Sears retail store in a mall adjacent to the 177-acre property where the track and equestrian center will be built.<\/p>\n

There are also plans for a satellite facility. Revolutionary Racing must locate that within 60 miles of the track, according to KHRC regulations.<\/p>\n

Big Move for Eastern Kentucky Community<\/h2>\n

Ashland is a city with a population of about 20,000, and Boyd County has about 48,000. They\u2019re located between Portsmouth, Ohio, and Huntington, WV, and part of the Huntington metro area, which includes more than 350,000 people.<\/p>\n

The arrival of gaming in the area is a big step, especially considering that Boyd County, until just two years ago, was a \u201cmoist county,\u201d meaning it had limited alcohol sales. A countywide vote to go completely wet in 2020 passed by a more than 2-to-1 margin.<\/p>\n

Boyd County Judge-Executive Eric Chaney, a Republican, told Casino.org<\/em> Tuesday that more people opposed going wet than opposed bringing gaming to the county.<\/p>\n

Chaney added that since becoming the judge-executive in the county, he\u2019s changed how the county has pursued economic development to focus on quality of life issues and make the area a draw for tourists and visitors. He said the KHRC’s licensing Revolutionary Racing was a win for the community,<\/p>\n

\u201cWe are building a very strong foundation to be able to move Eastern Kentucky and Boyd County in a direction that’s going to promote quality of life exponentially,\u201d<\/strong> he said.<\/p>\n

AQHA Excited About Kentucky Opportunity<\/h2>\n

There\u2019s no official time line yet for when racing may start at the Ashland track. Lucas told Casino.org<\/em> that Revolutionary Racing is working with the KHRC and other stakeholders to align with the other tracks in the state and the other quarter horse tracks.<\/p>\n

In a statement to Casino.org<\/em>, Janet VanBebber, chief racing officer for the American Quarter Horse Association, said the organization has talked with Revolutionary Racing several times about the company\u2019s plans. Revolutionary Racing has not yet submitted its application. Still, the AQHA is excited about the opportunity to have their sport in what many consider the horse capital of the world.<\/p>\n

\u201cAs we navigate the critical path toward implementation of live racing, know that our leadership will be reviewing track design, commitment to abundant racing opportunity, and other factors before affording final approval,\u201d VanBebber said. \u201cWe are dedicated to the protection of both horse and rider and securing a viable opportunity for our members to showcase their equine athletes. We look forward to engaging with Revolutionary Racing in this pursuit.\u201d<\/p>\n

Quarter horses are shorter and heavier than thoroughbreds. They also race faster over shorter distances.<\/p>\n

Last year, the AQHA ran more than 6,200 races with purses valued at $126.1 million. The total amount wagered on those races was $344.1 million.<\/p>\n

Revolutionary Racing said it expects to offer daily purses of $500,000 during its meets.<\/p>\n

By comparison, there were more than 33,500 thoroughbred races last year in the US, with purses valued at $1.18 billion. Bettors wagered $12.21 billion on thoroughbred races last year.<\/p>\n

State Lawmaker Questions Award<\/h2>\n

Not everyone seemed to buy into Revolutionary Racing\u2019s proposal. After the KHRC\u2019s vote, Kentucky Senate Majority Floor Leader Damon Thayer (R-Georgetown), a racing industry veteran, questioned why the agency performed little due diligence. He also wondered why there were no questions about the group hiring the son of a commissioner as its lead attorney.<\/p>\n

Thayer also criticized Revolutionary Racing as the \u201chand-picked applicant\u201d by Gov. Andy Beshear, a Democrat.<\/p>\n

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Done at special meeting so @AndyBeshearKY<\/a> hand-picked applicant could be granted the license. Little due diligence, no questions about questionable background of the man leading the group or its hiring of a commissioner\u2019s son as lead lawyer. @janetpattonhl<\/a> @_AustinHorn<\/a> (1\/2) https:\/\/t.co\/8ER2NhLkAL<\/a><\/p>\n

— damon thayer (@damon_thayer) July 26, 2022<\/a><\/p><\/blockquote>\n