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Horse Racing And Historical Horse Racing’S Impact On The Kentucky Economy: Possible Hhr Saturation?, Thomas E. Lambert
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
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 …
Horse Sense Or Horse Hype? Estimating The True Economic Impact Of Churchill Downs And The Kentucky Derby On The Louisville Metro Area, Thomas E. Lambert
Horse Sense Or Horse Hype? Estimating The True Economic Impact Of Churchill Downs And The Kentucky Derby On The Louisville Metro Area, Thomas E. Lambert
Faculty Scholarship
In trying to assess the true economic impact of the Kentucky Derby on the Louisville region (north central Kentucky and south central Indiana counties), one can find two different estimates appear in doing a quick search on the internet. Some sources, such as the Kentucky Derby Museum, indicate that the economic impact of the Derby is around $217 million (Kentucky Derby Museum 2023) but never mention a source or study for this conjecture. In doing some research, this amount is determined to come from a 2001 study by the marketing research firm Wilkerson and Associates (LaMarra 2001), and therefore this …
A Comparison Of The Economic Impact Of Horse Racing Tracks In Kentucky Versus Neighboring Indiana, Thomas E. Lambert
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 The Red Mile On The Lexington Metro Area, Thomas E. Lambert
The Economic Impact Of The Red Mile On The Lexington Metro Area, Thomas E. Lambert
Faculty Scholarship
The Red Mile Racetrack and Red Mile Gaming Center in Lexington, Kentucky have a harness racetrack, and the track has had a solid tradition for quality harness racing going back to its start in 1875 (Red Mile 2022). This paper examines what economic impact the racetrack and gaming center have on the Lexington metro area (Bourbon, Clark, Fayette, Jessamine, Scott, and Woodford counties in Kentucky) on a yearly basis.
The Economic Impact Of Keeneland Race Course On The Lexington Metro Area With Projections For This Year’S Breeders Cup, Thomas E. Lambert
The Economic Impact Of Keeneland Race Course On The Lexington Metro Area With Projections For This Year’S Breeders Cup, Thomas E. Lambert
Faculty Scholarship
Keeneland Race Course in Lexington, Kentucky has had a long tradition for quality horse racing going back to its inception in 1936 (Keeneland 2022). With the 2022 Breeders’ Cup World Championships coming to the race track this November, this paper examines what economic impact the race track has on the Lexington metro area (Bourbon, Clark, Fayette, Jessamine, Scott, and Woodford counties in Kentucky) on an annual basis and how the 2022 Breeders’ Cup will boost the impact of the race track when compared to a typical year.
The Economic Impact Of Buying And Redeveloping Ellis Park By Churchill Downs, Thomas E. Lambert
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
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 …