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Two historic Kentucky horse racing tracks are saddling up with Caesars Sportsbook for mobile and retail sports betting operations in preparation for the state’s sports betting launch by early 2024.
Keeneland and Red Mile announced agreements with Caesars Sportsbook this week. It is the first publicly announced partnership between any of Kentucky’s nine horse tracks and a sports betting operator since Kentucky legalized sports betting in March. State regulatory approval of sportsbook operations is still pending, with licensing expected later this year.
In addition to mobile sports betting, both Keeneland and Red Mile are expected to offer on-track hospitality and VIP experiences through the Caesars Rewards loyalty program, according to the announcement. A permanent Caesars retail sportsbook is also planned for the Red Mile pending regulatory approval.
Up to 27 mobile sports betting apps could be live in the Commonwealth by Jan. 1 under the law signed by Kentucky Gov. Andy Beshear on March 31, with up to three mobile skins possible per track. Retail sportsbooks will also be allowed at Kentucky horse tracks or through approved off-track betting locations.
Caesars: Deal With Kentucky Tracks an ‘Unmatched Opportunity’
Caesars Digital President Eric Hession called the company’s sports betting agreement with Keeneland and Red Mile “unmatched.”
“Keeneland and Red Mile are iconic horse racing venues with an important legacy in the state of Kentucky,” Hession said in the statement. “Customers in the region have long enjoyed our world-class Caesars destinations and, most recently, our horse racing wagering app, Caesars Racebook.
“Working with these historic institutions provides an unmatched opportunity to reach sports and racing fans in the state, and we look forward to working with the Kentucky Horse Racing Commission as we prepare to launch later this year,” Hession added.
Another iconic Kentucky track is Louisville’s Churchill Downs – home of the Kentucky Derby. Gaming Today emailed the track’s corporate office on Monday for information about its sports betting plans but has not yet received a response.
Sports Betting a Good Fit for Horse Tracks, Say Track Officials
Keeneland is an 87-year-old thoroughbred track, world-class horse auction house, and National Historic Landmark that was home to the Breeders’ Cup in 2015, 2020 and 2022. Red Mile, founded in 1875, is the second-oldest harness racing track in the world. The two tracks also operate a joint historical horse racing (HHR) venture through over 950 electronic gaming machines located at the Red Mile.
Red Mile COO Shannon Cobb said in a joint press release Tuesday that sports betting fits with the historic harness track’s long-term business goals.
“At Red Mile Gaming & Racing we are excited to continue introducing this historic harness track to new audiences,” Cobb said. “Opportunities with sports wagering on site, added to live racing, simulcasting, and HHR Games accomplish goals we have worked toward for several years. Our relationships with Keeneland and Caesars in this venture could not be more valued.”
Keeneland President and CEO Shannon Arvin called the Caesars partnership “exciting,” with the potential to generate more interest in horse racing – Kentucky’s signature sport.
The venture “holds exciting potential and furthers our mission to introduce new audiences to horse racing,” said Arvin. “Caesars is a globally respected brand, and we value their commitment to racing and their expertise in sports wagering.”
Annual state revenue from Kentucky sports betting is expected to reach $23 million – the majority of which will go to fund Kentucky’s public pension fund. Additionally, 2.5 percent of the revenue will fund gambling addiction programs.
