Keeneland, Red Mile approved for instant racing

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News,Business

LEXINGTON, Ky. (AP) — Keeneland Race Course and The Red Mile have been approved for instant racing and plan to open facilities in July 2015.

The Lexington Herald-Leader (http://bit.ly/1gPnAJw ) reports the Kentucky Horse Racing Commission unanimously approved the requests Wednesday.

Keeneland and Red Mile officials expect to reach similar levels of wagering as the only other sites in Kentucky that offer instant racing, Kentucky Downs in Franklin and Ellis Park in Henderson. They collectively take in about $30 million in wagering a month, with Kentucky Downs averaging about $1 million a day.

Approval is pending agreements with horsemen to determine how much revenue they will receive.

Keeneland expects to build a 50,000-square-foot parlor and install 600 terminals, while The Red Mile wants to build a 40,000-square-foot parlor onto its grandstand and install 500 machines.

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Information from: Lexington Herald-Leader, http://www.kentucky.com

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