Churchill Downs Inc. (CHDN) is building an 85,000 sf, $60 million facility, to host historical race wagering by the fall of 2018. Historical race wagering; or instant racing, is similar to slot machines and models games after previously run races. The company will start with 600 machines, and if successful, could look to add similar facilities to its portfolio in the future.
Howie Long-Short: What is this, CHDN’s attempt to hedge in case PETA ever gets horse racing banned, like Shamu? Biff Tannen is delivering me a horse racing almanac as we speak. Retirement, here we come.
David Price/Earnings: Sounds like this could be quite profitable down the stretch, if marketed right.
Fan Marino: How big of a degenerate does one have to be, to gamble on a horse race that’s already been completed? Asking for a friend.