Citing current macroeconomic conditions and increasing uncertainty surrounding construction costs related to tariff and trade disputes, Churchill Downs Inc. announced on April 23 that it has decided to pause its multiyear projects to develop the Skye, Conservatory, and infield areas.
In the coming months, CDI will assess the evolving economic landscape and evaluate any changes to the timing and sequencing of these multiyear projects. The decision comes just two months after CDI announced the infrastructure improvements, estimated to cost between $880 million and $920 million.
READ: Churchill Announces Expansion and Renovation Projects
The Skye Project was to focus on the section of Churchill Downs that starts just past the finish line and extends to the First Turn Club, which was to feature a five-story structure transforming its iconic clubhouse turn. The Conservatory Project was to replace the temporary suites in the infield with premium seating experiences, and the Infield Project was to introduce three new permanent buildings with enhanced amenities.
CDI plans renovations to the existing Finish Line Suites and The Mansion at the Louisville, Ky., track, with expected completion in April 2026.
The renovation of the Finish Line Suites will update the existing 15 suites on the fifth floor, overlooking the finish line at Churchill Downs, and provide modern interior appointments and amenities while increasing the capacity to a total of 750 guests. The renovation of the Trophy Room, located behind the Finish Line Suites and accommodating more than 300 guests, will feature updated finishes and a new feature bar. The improvements to these areas will collectively create a larger, fully integrated hospitality experience with increased vibrancy, improved guest flow, and superior amenities.
The Mansion, built in 2013, is one of the most exclusive areas at Churchill Downs. Located on the sixth floor, The Mansion provides an exclusive aerial view of the finish line and an expansive perspective of the entire property. Renovation of The Mansion will introduce updated finishes and other enhancements.
CDI expects to spend approximately $25 million to $30 million on these new capital projects.
"We are pleased to announce these new projects designed to significantly improve the Finish Line Suites and The Mansion which are two of our most exclusive areas of the racetrack," CDI CEO Bill Carstanjen said. "The decision to pause the Skye Terrace and infield projects was a difficult one for us to make because we do not want to disappoint our fans; however, we have a responsibility to be disciplined given the recent changes in the economic environment. We remain committed to growing our iconic flagship asset over the long term with projects that will provide new once-in-a-lifetime experiences for our guests and deliver best-in-class shareholder returns."
This press release has been edited for content and style by BloodHorse Staff.
