Kentucky will officially launch its sports wagering industry on Sept. 7, when its retail sportsbooks can accept wagers. In the meantime, those venues can officially begin applying for sports betting licenses.
There are 14 venues eligible to operate retail sportsbooks within the state. To secure one, those venues must apply for an operator license.
Operator licenses cost venues a one-time fee of $500,000 and are renewed annually for $50,000. The Kentucky sports betting regulations state that two or more associations can also combine for a joint application.
We’re still a few months away from the official launch date. But here’s a look at which Kentucky venues have applied for sports betting licenses or have confirmed their application will be making its way through the pipeline soon.
All Churchill Downs properties
It’s safe to say all the Churchill Downs properties will boast a sportsbook.
CDI VP of Communications Tonya Abeln told PlayKentucky in an email that the company “has applied for licenses for all of (its) established Kentucky racing and gaming facilities.”
In other words, CDI hopes to open retail sportsbooks at Churchill Downs, Derby City Gaming, Turfway Park, Newport Racing & Gaming, Oak Grove Racing & Gaming and Ellis Park. Derby City Gaming in downtown Louisville is set to open later this year. And there will also be a future Ellis Park extension site in Daviess County.
In total, CDI owns eight of the Kentucky’s 14 venues eligible for a sportsbook operator license.
Abeln told PlayKentucky is still working on the details of its online betting partners. Currently, they established a partnership with FanDuel, ensuring FanDuel Kentucky will be available in the Bluegrass State. However, neither company will comment on any further details about the arrangement.
The Red Mile
The Red Mile is another Kentucky venue that has applied for a sports betting license. Red Mile and Keeneland partnered with Caesars to become the first sportsbook partnership in the state in mid-May.
Officials from the Red Mile have released several details about the upcoming sportsbook. On the other hand, it is still unclear if Keeneland will have one.
The Red Mile’s retail sportsbook will be dubbed The Red Room and be Caesars-branded. On the online side, the partnership guarantees a Caesars Sportsbook Kentucky platform.
Red Mile VP of Racing & Sports Wagering Operations Gabe Prewitt told PlayKentucky the he also expects plenty of crossover with horse race betting traffic this fall.
“There are going to be Sundays during football season where we’re racing out back. And there’s going to be a lot of volume in the sportsbook for the NFL,” Prewitt said. “These two are going to be so close that it’s going to be impossible not to overlap.”
Additionally, Prewitt said customers could expect an “absolutely beautiful” facility, a one-stop shop for food, gambling and fun.
Sandy’s Racing and Gaming
Revolutionary Racing‘s new Sandy’s Racing & Gaming facility in Ashland will bring a state-of-the-art retail sportsbook to eastern Kentucky residents.
PlayKentucky spoke with Revolutionary Racing VP of Government Relations Conor Lucas last month. At the time, Lucas said construction on the facility was “going great” and eyeballed an October opening for the retail sportsbook.
There’s no official sports betting partner yet. But you can expect it to be one of the industry’s larger operators.
“Obviously, in a state like Kentucky — especially with us being in a more rural community — having an online sportsbook is very valuable, as opposed to a brick-and-mortar one,” Lucas said. “Name recognition is also obviously important. Sports betting is competitive. Outside of FanDuel, DraftKings, BetMGM and Caesars, it’s pretty small fractions after that. Those guys have 90% of the market, 80% of the market in most states. The rest is 2%, 5%.
“For us, we want to go for one of those big four.”
Revolutionary Racing President and COO John Marshall echoed Lucas’ conversation, telling PlayKentucky that the venue will announce a partner in the coming days.
Marshall says the partner will be “a big name you would recognize.”
The retail sportsbook will be about 5,800 square feet, according to Lucas. He said there would be “somewhere around 70 screens with couches, recliners and a bar,” too.