Churchill Downs Incorporated launches process to sell Arlington International Racecourse Property
LOUISVILLE, Ky. – (GLOBE NEWSWIRE) – Churchill Downs Incorporated (“CDI” or “Company”) (Nasdaq: CHDN) announced Tuesday that the Company has launched a process to sell the 326 acres in Arlington Heights, Illinois that are currently the home of Arlington International Racecourse (“Arlington”). CBRE will bring the redevelopment opportunity to market on behalf of CDI.
According to Globe Wire, the Company is committed to running Arlington’s 2021 race dates from April 30 – September 25. The Company does not expect any sale of the Arlington site to close prior to the conclusion of Arlington’s 2021 race meet or that the conduct of the sale process will impact Arlington’s racing operations this year.
“Arlington’s ideal location in Chicago’s northwest suburbs, together with direct access to downtown Chicago via an on-site Metra rail station, presents a unique redevelopment opportunity. We expect to see robust interest in the site and look forward to working with potential buyers, in collaboration with the Village of Arlington Heights, to transition this storied location to its next phase,” said Bill Carstanjen, CEO of CDI. “In the meantime, we are very committed to pursuing the relocation of Arlington’s racing license to another community in the Chicagoland area or elsewhere in the state. We are exploring potential options with the State and other constituents and remain optimistic that we can find solutions that work for the State, local communities and the thousands of Illinoisans who make their living directly or indirectly from thoroughbred horse racing. We are committed to the Illinois thoroughbred racing industry and will consider all options in working toward opportunities for it to continue into the future.”