Churchill Downs Incorporated has announced that a $100m expansion has been scheduled for Miami Valley Gaming & Racing (MVG) which is set to be completed by the second quarter of 2021.
The expansion will see MVG, Churchill Downs’ joint venture racino with Delaware North Gaming & Entertainment, expand its geographical market reach due to the construction of a new hotel which will include 192 rooms and suites, a new full-service restaurant, coffee bar and 1,000-car parking garage.
Moreover, the $100m project will also add over 10,000 square feet of gaming floor space and will include an additional 250 video lottery terminals (VLT’s) which will increase the total number of VLTs in operation at the property to approximately 2,200.
Bill Carstanjen, CEO of Churchill Downs Incorporated, stated: “Miami Valley Gaming has been very successful since it was built in 2013, and the team has consistently driven strong growth while also being a great asset to their community. This investment will enable MVG to meet the increased demand from a broader geographical reach and enhance the guest experience with high-quality amenities.”
The expansion is the latest big money move by Churchill Downs Incorporated after the online wagering and gaming entertainment company joined with Rush Street Gaming in September to produce a case for a $150m casino development in Waukegan.
At the time, Carstanjen commented: “Churchill Downs Incorporated and Rush Street gaming are licensed and approved by regulators in 40 jurisdictions, including the Illinois Gaming Board, and we have unmatched experience in running successful casino and entertainment venues.
“We are proud to partner with Rush Street Gaming to bring our shared vision for a world-class entertainment destination to Waukegan and there is no doubt we will be the city’s best and most successful partner.”
MVG is located between Dayton and Cincinnati and currently employs over 450 people. It has delivered over $270m in gaming taxes to the Ohio Lottery and $83m in purses to the Ohio Harness Horseman’s Association since opening.
The project, which will be financed with debt at the joint venture, is set to create an estimated 300 construction jobs as well as over 100 additional full-time employment opportunities.