Business Commons^™

Horse Racing And Historical Horse Racing’S Impact On The Kentucky Economy: Possible Hhr Saturation?, Thomas E. Lambert

Faculty Scholarship

The Commonwealth of Kentucky currently has 5 thoroughbred racing tracks and 3 harness racing tracks (Kentucky Horse Racing Commission 2023 and Mint Julep Louisville 2021). As Table 1 below shows, the industry employees roughly 7,000 people (direct jobs), and these jobs annually support another 2,000 jobs or so throughout the state. These 2,000 jobs are jobs that are provided by the suppliers to the horse race tracks (indirect jobs) and jobs that are created by the spending of the race track employees and the employees of suppliers on food, housing, transportation, and clothing by vendors and retailers throughout the state …

Historical Horse Racing Dominates Gambling Expenditures In Kentucky—Even Outperforms The Lottery. But Why?, Thomas E. Lambert

Faculty Scholarship

With sports gambling coming to the Commonwealth of Kentucky in September 2023, another competitor to various gaming activities in the state raises the question of how it is doing relative to the others, especially its major competition. As can be seen in the table below, for its first four months of operation, sports gambling in the state brings in almost $900 million and averages around $223 million per month. This average is better than typical monthly lottery sales which come in at around $161 million per month and is far above on and off-track (including simulcasting) racing betting which averages …

Kentucky Downs And The Mint—A Huge “Exporter” For Kentucky?, Thomas E. Lambert

Faculty Scholarship

Kentucky Downs is a thoroughbred racetrack located in Franklin, Kentucky near the Kentucky-Tennessee border and close to Interstate 65 which features European-style (all turf track) racing. (The Mint and Kentucky Downs n.d.). It is also part of an entertainment complex that features a gaming center called The Mint, which has over 1000 historical horse racing (HHR) machines, machines that are somewhat similar to but not exactly the same as casino slot machines (The Mint n.d.). The Mint has another location around 20-30 minutes away by car in Bowling Green, Kentucky, and combined these two operations have around 125 employees according …

A Comparison Of The Economic Impact Of Horse Racing Tracks In Kentucky Versus Neighboring Indiana, Thomas E. Lambert

Faculty Scholarship

The Louisville metro area is one that spans two states—Kentucky and Indiana. Since the University of Louisville has many students and employees who come from the Hoosier State, it would be interesting to see how the two states compare when it comes to what has been labeled a “signature” industry for the Commonwealth of Kentucky—horse racing.

The Economic Impact Of Buying And Redeveloping Ellis Park By Churchill Downs, Thomas E. Lambert

Faculty Scholarship

Churchill Downs’ acquisition of Ellis Park Racing and Gaming in Henderson, Kentucky reflects the growing number of mergers across the US among racetracks, racetracks and casinos, and casinos with other casinos. Some years back, Ellis racetrack closed for one year due to declining profitability, yet after new ownership took over and a gaming center was added, it began a rebound in earnings (Courier and Press 2008). The $75 million that Churchill Downs plans to spend to transform Ellis Park (Schulz 2022) will have a much bigger impact than the construction, revamping, and expansion of park facilities. This is in addition …

The Economic Impact Of Horse Racing Tracks And Historical Horse Racing In Kentucky, Thomas E. Lambert

Faculty Scholarship

The Commonwealth of Kentucky currently has 5 thoroughbred racing tracks and 3 harness racing tracks (Mint Julep Louisville 2021). As Table 1 below shows[1], the industry employees roughly 6,000 people (direct jobs), and these jobs annually support another 1,500 jobs or so throughout the state. These 1,500 jobs are jobs that are provided by the suppliers to the horse race tracks (indirect jobs) and jobs that are created by the spending of the race track employees and the employees of suppliers on food, housing, transportation, and clothing by vendors and retailers throughout the state (induced jobs). The direct …

Do Simulcasting And Off-Track Betting Benefit Or Harm Kentucky On-Track Betting?, Thomas E. Lambert

Faculty Scholarship

No abstract provided.

Derby City Gaming Expansion: Its Impact On The Louisville Metro Area, Thomas E. Lambert

Faculty Scholarship

No abstract provided.

Perceptions Of A Bible Belt State's Proposed Casino Gaming Legislation By Religious Affiliation: The Case Of Kentucky Residents, Desmond O. Brown, Mary G. Roseman, Sunny Ham

UNLV Gaming Research & Review Journal

This study seeks to explore whether differences exist among Kentucky residents' perception of casino gaming based on religious affiliation. A survey was conducted to sample 600 residents regarding currently a widely debated introduction of land-based casinos in the state, yielding a response rate of 38.4%. The results support earlier studies regarding the impact religion has on people's attitudes toward gaming. The findings suggest that Catholics have a more positive attitude toward the legalization of gambling than persons of Protestant faiths.

Kentucky Parimutuel Revenue Policy Simulator, J. Shannon Neibergs

UNLV Gaming Research & Review Journal

Since Kentucky introduced inter-track wagering in 1988, and inter-state wagering in 1994, there has been an ongoing substitution of declining live handle with increasing simulcasting handle. Also, since 1995 there has been a marked increase in competition from alternative gaming. At issue is the net effect on parimutuel stakeholder revenue relative to changes in the distribution of parimutuel handle and increased competition. This paper presents a parimutuel revenue budget that can be used to evaluate the marginal revenue of changes in policies, or of actions taken in response to increased competition from alternative gaming.

Estimating The Economic Impact Of The New Arena At The Kentucky Horse Park, Alexis R. Bwenge

MPA/MPP/MPFM Capstone Projects

For the first time in its history, the World Equestrian Games (WEG) will be held outside of Europe in 2010. Kentucky has won the bid to host the event at the Kentucky Horse Park (KHP) in Lexington. The games will last two weeks in the fall of2010 and organizers estimate ticket sales of 300,000, and over 1,000 athletes from 50 countries are expected to compete (Commonwealth of Kentucky).

However, for the Horse Park to be a suitable location to host WEG, it must have a climate controlled indoor arena. The current proposal for the arena plans for a 6,000 seats, …