Yahoo Finance Churchill Downs (CHDN) Launches Terre Haute Casino Resort
Churchill Downs Incorporated CHDN has inaugurated Terre Haute Casino Resort in Terre Haute, IN, marking its first venture into the state. The $290 million investment boasts a sprawling 400,000 square-foot entertainment complex, featuring 1,000 slot machines, 36 table games and a cutting-edge sportsbook.
The resort's array of regionally inspired bars and restaurants, including Four Cornered Steakhouse and Rockwood Bar & Grill, aim to attract visitors across the Midwest and beyond. Mayor Brandon Sakbun heralds the project as a testament to community leaders' dedication, anticipating a surge in tourism and economic prosperity.
CEO Bill Carstanjen emphasizes the long-term impact of the resort, positioning it as a catalyst for growth in Vigo County and the broader Indiana region. Scheduled to unveil additional amenities, such as a luxury hotel and rooftop lounge, on May 15, 2024, the project has already generated significant employment opportunities, with nearly 1,000 construction jobs and over 550 permanent positions.
With this strategic expansion, CHDN diversifies its portfolio into its 14th state, reinforcing its position as a key player in the gaming and entertainment industry. The company's foray into Indiana capitalizes on the region's burgeoning market and underscores its commitment to delivering on promises made to local communities.
In conclusion, the opening of Terre Haute Casino Resort represents a pivotal moment for CHDN, signaling a promising trajectory for growth and profitability in the dynamic gaming landscape. In the past six months, shares of the Zacks Rank #3 (Hold) company have gained 9.3% compared with the industry’s growth of 20.2%.
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