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  • GLPI Reports $389.6 Million in Q4 Revenue as Expansion and New Deals Drive Growth

    GLPI Reports $389.6 Million in Q4 Revenue as Expansion and New Deals Drive Growth

    Gaming & Leisure Properties Inc. (GLPI) ended 2024 on a high note, reporting $389.6 million in fourth-quarter revenue—a 5.6% jump from the previous year. The real estate investment trust (REIT), focused on gaming-related properties, also posted a net income increase, climbing to $223.6 million from $217.3 million in 2023.

    Peter Carlino, GLPI’s Chairman and CEO, credited strategic acquisitions and lease agreements for the company’s record-breaking performance. “We generated record fourth-quarter and full-year 2024 results, reflecting growth across all key financial metrics,” he said. The company also reinforced its shareholder commitment by declaring a $0.76 per share dividend, set to be paid on March 28, 2025.

    Property Portfolio Expands with Key Acquisitions

    GLPI’s growth wasn’t just on paper—it added new properties to its expanding portfolio. Two major sale-leaseback deals closed during the quarter: Bally’s Kansas City and Bally’s Shreveport. With these acquisitions, GLPI’s total property count hit 68.

    Carlino described these transactions as a boost to the 2025 balance sheet, anticipating strong long-term value. The company has increasingly relied on sale-leaseback arrangements to enhance its footprint, acquiring real estate assets from operators and leasing them back under long-term agreements.

    The REIT’s ability to execute these deals highlights its financial flexibility. It continues to secure tenants while expanding its hold in the gaming sector, further solidifying its market position.

    Strengthening Financial Position Amid a Tight Market

    Even with a challenging lending environment, GLPI made significant progress in fortifying its financial position. The company successfully expanded its credit facility, increasing it from $1.75 billion to $2.1 billion. The move extends debt maturities through the end of 2028, giving GLPI additional financial breathing room.

    The capital raise comes at a time when many REITs face tightening credit conditions. GLPI, however, has managed to maintain liquidity and favorable financing terms, allowing it to continue executing on its acquisition and development strategy without major disruptions.

    Boyd Gaming Extends Lease Agreements

    Boyd Gaming, one of GLPI’s key tenants, opted to renew its lease agreements for multiple properties, including Belterra Park in Ohio. The extensions lock in Boyd Gaming’s presence at these locations through April 2031.

    The lease renewals provide GLPI with a predictable revenue stream and highlight the strength of its tenant relationships. While the broader gaming industry faces periodic market fluctuations, long-term lease agreements help ensure stability for REITs like GLPI.

    Expanding into Tribal Gaming with a High-Interest Loan

    GLPI is also making a move into tribal gaming real estate. The company finalized a $110 million financing agreement with the Ione Band of Miwok Indians to support a new casino development in California.

    • The loan carries an 11% interest rate, positioning it as a high-yield investment.
    • The agreement includes an option for the tribe to convert the loan into a long-term lease, offering GLPI potential long-term real estate control.
    • The deal marks a strategic expansion into tribal gaming, an area with significant growth potential.

    Tribal gaming has been an increasingly important segment of the U.S. gambling industry, and GLPI’s investment underscores its interest in diversifying revenue sources beyond commercial operators.

    Looking Ahead: What’s Next for GLPI?

    GLPI enters 2025 with momentum and a solid financial outlook. The company remains focused on expanding its portfolio, leveraging sale-leaseback deals, and securing stable tenant agreements.

    Carlino has acknowledged the industry’s financial challenges but expressed confidence in GLPI’s ability to execute its growth strategy. With strong lease agreements, new financing structures, and a willingness to explore emerging markets like tribal gaming, the REIT appears well-positioned for the future.

  • China Pressures Philippines to Tackle Offshore Gambling After Major Raid

    China Pressures Philippines to Tackle Offshore Gambling After Major Raid

  • Uplatform’s Senior Sales Manager Maria Ism to Attend SiGMA Eurasia 2025 in Dubai

    Uplatform’s Senior Sales Manager Maria Ism to Attend SiGMA Eurasia 2025 in Dubai

    Uplatform is gearing up for SiGMA Eurasia 2025, set to take place in Dubai from February 23 to 25. With an expected turnout of over 18,000 delegates, 500+ speakers, and key government representatives, the event promises to be a hotspot for networking and business expansion in the iGaming industry. Representing Uplatform at the event will be Maria Ism, the company’s Senior Sales Manager, bringing her expertise in business development and strategic partnerships to the table.

    Uplatform Eyes New Growth at SiGMA Eurasia

    SiGMA Eurasia has solidified its reputation as one of the most significant events in the gaming and betting industry. The conference brings together operators, suppliers, affiliates, and regulatory bodies, offering them a chance to explore new market opportunities and technological advancements.

    For Uplatform, this is more than just another conference. It’s an opportunity to showcase its sportsbook and casino solutions, which are crafted to help operators expand in competitive markets. The company’s presence underscores its commitment to staying ahead in an industry that thrives on innovation and adaptability.

    Maria Ism, who boasts over six years of experience in iGaming, will be at the forefront of Uplatform’s engagement at SiGMA Eurasia. Her role? To connect with potential partners, discuss tailored solutions, and highlight strategies that help operators boost engagement and revenue.

    Maria Ism: Bringing Industry Insights to the Table

    Maria’s expertise lies in building strong business relationships and helping operators navigate the complexities of market expansion. At SiGMA Eurasia, she’ll be offering insights into Uplatform’s diverse offerings, including:

    • Comprehensive sportsbook and casino solutions
    • Strategies to enhance player engagement and retention
    • Growth tactics tailored to emerging markets

    Maria believes Dubai’s rapid development and ambition reflect Uplatform’s own approach. “We don’t just follow trends—we help operators stay ahead,” she stated. Her presence at the event will allow businesses to explore practical strategies that drive success.

    What Makes SiGMA Eurasia a Must-Attend Event?

    SiGMA Eurasia isn’t just about discussions—it’s about action. The conference provides an invaluable space where industry leaders exchange ideas, close deals, and set the stage for future innovation.

    Why does it matter for gaming operators and service providers?

    • Massive networking opportunities: With thousands of delegates attending, the event creates endless possibilities for collaboration.
    • Market expansion insights: Operators gain firsthand knowledge of trends shaping iGaming in the Middle East and beyond.
    • Government presence: With high-level officials attending, the event also touches on regulatory developments that impact global gaming operations.

    For Uplatform, being at the forefront of such an event isn’t just beneficial—it’s essential. The company’s solutions are built to adapt to diverse markets, and SiGMA Eurasia offers the ideal setting to introduce these innovations to a global audience.

    Booking a Meeting with Uplatform at SiGMA Eurasia

    For those looking to discuss growth strategies and business opportunities, Maria will be available for in-person meetings throughout the event. Interested parties can schedule a session in advance to explore how Uplatform’s solutions can support their operations.

    As competition in the iGaming sector intensifies, strategic partnerships and innovative technology make all the difference. Uplatform’s presence at SiGMA Eurasia 2025 signals its ongoing commitment to pushing the industry forward.

  • Joey Weissman Clinches 2025 PokerGO Cup Series Championship with Dominant Run

    Joey Weissman Clinches 2025 PokerGO Cup Series Championship with Dominant Run

    The 2025 PokerGO Cup delivered high-stakes drama, record-breaking fields, and a thrilling showdown for the series championship. With a total of $9,405,000 in prize money awarded across eight events at the PokerGO Studio inside ARIA Resort & Casino in Las Vegas, poker fans witnessed an unforgettable battle among the game’s top pros. But one player stood above the rest—Joey Weissman.

    The 36-year-old Las Vegas-based pro turned in a stellar performance, final-tabling half of the events, including one outright victory and three runner-up finishes. His consistency paid off, earning him the coveted PokerGO Cup title, $930,600 in winnings, and the top spot on both the PokerGO Tour and Card Player Player of the Year leaderboards.

    Weissman’s Near-Flawless Performance

    Weissman’s path to the title was nothing short of remarkable. In the series opener—a $5,000 buy-in tournament that drew a record-breaking 177 entries—he fought his way to heads-up play before finishing second to Michael Moncek, earning $123,900.

    Then, in event #2, a $10,000 buy-in no-limit hold’em tournament, Weissman found himself in a rematch against Moncek. This time, he closed the deal, claiming the trophy and a $295,000 payday.

    Weissman’s momentum continued in event #4, where he once again reached heads-up play, this time facing Eric Blair. Despite another second-place finish, he pocketed $161,700.

    The biggest cash of his run came in the $25,000 buy-in finale, which saw 59 players battle for the last title of the series. Weissman reached heads-up play yet again, but his pocket tens fell to Justin Zaki’s A-10, denying him a second title. Still, the runner-up prize of $350,000 secured his series victory.

    The Numbers Behind the Victory

    Weissman ended the series with a commanding 758 points on the PokerGO leaderboard—190 points clear of second-place finisher Eric Blair.

    • Total cashes: 4
    • Total winnings: $930,600
    • Final table appearances: 4
    • Event titles: 1

    His consistency across multiple events made him the undisputed series champion, setting the stage for what could be a career-defining season.

    Eric Blair and Michael Moncek Shine in Second and Third

    While Weissman stole the headlines, Eric Blair and Michael Moncek had outstanding runs of their own.

    Blair was the only player to win two events in the series, finishing second overall with 568 points and $645,850 in winnings. His biggest victory came in event #4, where he outlasted Weissman to take home the title.

    Moncek, meanwhile, won event #1 and finished second to Weissman in event #2, racking up $483,750 and securing the third spot in the final standings.

    Kristen Foxen’s Historic Performance

    One of the biggest stories of the series was Kristen Foxen, who not only won event #7 but also made three total cashes, finishing fourth in the standings. Her strong showing pushed her past Vanessa Selbst to become the all-time female money leader in poker history.

    Foxen’s breakthrough performance earned her $401,300, and her presence at the final tables proved she could compete against the best high-stakes players in the game.

    The Final Standings

    The top ten players from the 2025 PokerGO Cup featured some of the biggest names in poker, with a mix of champions and consistent deep-runners.

    Rank Player Points Titles Cashes Winnings
    1 Joey Weissman 758 1 4 $930,600
    2 Eric Blair 568 2 3 $645,850
    3 Michael Moncek 484 1 3 $483,750
    4 Kristen Foxen 332 1 3 $401,300
    5 Sergio Aido 327 1 2 $345,300
    6 Adam Hendrix 316 1 1 $316,050
    7 Keith Lehr 283 0 4 $352,275
    8 Justin Zaki 283 1 1 $417,000
    9 Patrick Leonard 244 0 3 $288,550
    10 Michael Berk 224 0 4 $288,500

    What’s Next for Weissman?

    With his PokerGO Cup triumph, Weissman now sits atop the PokerGO Tour leaderboard and the Card Player Player of the Year standings. The win cements his reputation as one of the most consistent and formidable players on the high-roller circuit.

    His ability to navigate through large fields and consistently reach final tables suggests he could be in for a massive 2025 season. If he continues this level of play, more titles—and perhaps another major championship—could be on the horizon.

  • U.S. Gambling Revenue Hits Record $72 Billion in 2024, American Gaming Association Reports

    U.S. Gambling Revenue Hits Record $72 Billion in 2024, American Gaming Association Reports

    The American Gaming Association (AGA) has confirmed another record-breaking year for the commercial gaming industry, with total revenue hitting $71.92 billion in 2024. That’s a 7.5% jump from the previous year, marking the fourth consecutive year of growth. And that’s just the commercial side—when tribal gaming revenue is factored in, the total U.S. gaming industry is projected to top $115 billion for the year.

    AGA President and CEO Bill Miller was optimistic, calling 2024 a “positive story” for the industry’s continued strength. But while the overall numbers are impressive, some areas saw shifts—especially in sports betting and table games, which had mixed results throughout the year.

    Live Casino Revenue Sees Growth, But December Dips

    While 2024 was a historic year for gaming, December took a hit. The month’s total gaming revenue dropped 2% compared to December 2023, marking the first monthly decline in nearly four years. However, the final quarter still managed to set a record, showing overall industry resilience.

    A key factor behind the December slump? Sports betting had an unusually low hold rate, meaning operators won less from bettors than expected. Still, brick-and-mortar casinos had a solid year, bringing in $50.32 billion—or about 70% of total revenue.

    Here’s how the core segments performed in 2024:

    • Slot machines: $36.06 billion (+1.6%)
    • Table games (e.g., blackjack, poker): $10.14 billion (-1.7%)
    • Retail sports betting: $13.71 billion (+25.4%)

    Even with table games dipping slightly, the demand for in-person gambling remains strong. Retail sports betting, in particular, saw a surge, up more than 25% year over year, reflecting the growing popularity of legal sports gambling across the U.S.

    Online Gambling Surges as More Americans Bet Digitally

    It’s no secret that online gaming has been on fire, and 2024 was no exception. Digital gambling—including online sports betting and casino games—accounted for $21.54 billion in revenue, making up 30% of the entire industry’s total earnings.

    Online casino gaming alone jumped 28.7% to $8.4 billion, as more states embraced digital wagering. Sports betting and iGaming now generate the majority of commercial gaming revenue in 13 states, including key markets like New Jersey, Pennsylvania, and Michigan.

    This shift isn’t slowing down, either. Experts predict that as more states legalize digital gambling, online revenue will eventually rival or even surpass traditional in-person casino earnings.

    States and Local Governments Reap Billions in Gaming Taxes

    Beyond the casinos and online platforms, one major winner in all of this? State and local governments.

    Gaming operators paid an estimated $15.66 billion in gaming taxes in 2024, an 8.5% increase from 2023. Just in the fourth quarter alone, $4.01 billion was collected in taxes, marking another 8.4% jump compared to the previous year.

    One important note: these figures only include direct taxes on gaming revenue. They don’t account for other contributions like:

    • Annual licensing fees
    • Federal sports betting excise taxes
    • Corporate income taxes
    • Payroll and sales taxes

    When all of these are factored in, the industry’s total tax contributions soar even higher, making gaming a major economic driver at both the state and national levels.

    What’s Next for the U.S. Gaming Industry?

    With four straight years of record-breaking revenue, the gambling industry is proving to be one of the most resilient sectors in the U.S. economy. But where does it go from here?

    • More states are expected to legalize online gambling: The success of iGaming in Michigan and Pennsylvania could push other states to follow suit.
    • Sports betting continues to grow: The Super Bowl and March Madness could set new records for sports wagering in 2025.
    • Casinos must adapt: As digital gambling eats into brick-and-mortar revenue, casinos may need to rethink their strategies to keep foot traffic high.

    One thing is certain—Americans aren’t slowing down on gambling anytime soon.

  • U.S. Commercial Gaming Revenue Reaches Record $71.9 Billion in 2024

    U.S. Commercial Gaming Revenue Reaches Record $71.9 Billion in 2024

    In a remarkable display of growth, the U.S. commercial gaming industry shattered previous records by amassing $71.92 billion in revenue for 2024. This achievement marks the fourth consecutive year of revenue expansion, surpassing 2023’s figure by 7.5%.

    Traditional Casinos Maintain Dominance Amidst Online Surge

    Brick-and-mortar casinos continue to be the cornerstone of the gaming sector, generating $49.78 billion in 2024. This figure represents a modest 0.8% increase from the prior year. Slot machines were the primary contributors, bringing in $36.06 billion, a 1.6% uptick. In contrast, table games experienced a slight decline of 1.7%, totaling $10.14 billion.

    Despite the steady performance of physical casinos, the online gaming segment is rapidly expanding. In 2024, online gaming, which includes iGaming and online sports betting, accounted for $21.54 billion, making up 30% of the total gaming revenue.

    Sports Betting and iGaming: Catalysts for Growth

    Sports betting has emerged as a significant growth driver within the industry. In 2024, Americans legally wagered $147.91 billion on sports, a 23.6% increase from the previous year. This surge led to sports betting revenue reaching $13.71 billion, marking a 25.4% year-over-year growth.

    American Gaming Association

    The iGaming sector also witnessed substantial growth, with revenue soaring by 28.7% to $8.41 billion in 2024. This increase underscores the shifting preferences of consumers towards digital gaming platforms.

    State-Level Highlights and Market Dynamics

    At the state level, 28 out of 36 commercial gaming jurisdictions reported increased revenues in 2024. Notably, Nebraska, Virginia, and Illinois experienced significant gains in traditional casino gaming, with revenues increasing by 60.1%, 32.0%, and 11.0% respectively. These upticks were largely driven by the inauguration of new gaming establishments.

    In the sports betting arena, Illinois surpassed New Jersey to become the second-largest market in the U.S., with revenue growth of 21.1%. Massachusetts also saw a remarkable 38.8% increase, elevating it to the seventh position among U.S. sports betting markets.

    While the Las Vegas Strip maintained its status as the nation’s leading gaming market, it experienced a 4.4% decline in revenue for 2024. Conversely, other Nevada markets such as Downtown Las Vegas and Reno-Sparks reported growth, climbing to the 13th and 11th largest U.S. gaming markets, respectively.

    Economic Contributions and Future Outlook

    The commercial gaming industry’s expansion has significantly bolstered public finances. In 2024, operators contributed an estimated $15.66 billion in gaming taxes to state and local governments, reflecting an 8.5% increase from the previous year.

    Looking ahead, the industry’s trajectory appears promising, with continued growth anticipated in both traditional and online gaming sectors. However, challenges such as market saturation and regulatory changes may influence future performance. Stakeholders will need to navigate these dynamics to sustain the momentum achieved in recent years.

  • Iowa Lawmakers Push to Ban Cities from Including Casinos in Urban Renewal Plans

    Iowa Lawmakers Push to Ban Cities from Including Casinos in Urban Renewal Plans

    Iowa lawmakers are moving to block cities from incorporating state-licensed gaming projects into urban renewal plans. New bills introduced in both chambers of the legislature on Wednesday aim to prevent casino developments from benefiting from local tax incentives—although the impact on existing projects remains uncertain.

    Proposed Legislation Targets Future Casino Projects

    The proposed legislation would prohibit cities from including casinos in urban renewal plans if their licenses are issued on or after January 1, 2025. This measure comes just weeks after the Iowa Racing and Gaming Commission approved a license for Cedar Crossing Casino, a $275 million project planned in Cedar Rapids.

    City officials confirmed that the casino site falls within an urban renewal district, a designation typically used for economic development, affordable housing, and revitalizing blighted areas. However, developers of the Cedar Rapids casino have stated they are not seeking tax incentives, potentially shielding the project from any direct impact if the bill becomes law.

    State Sen. Scott Webster (R-Bettendorf) emphasized that the legislation would not apply retroactively, meaning the Cedar Crossing Casino likely won’t be affected. “If they’re not asking for TIF (tax increment financing) incentives, this wouldn’t change anything for them,” Webster told The Gazette.

    Cedar Rapids Casino Sparks Tension in Legislature

    The push for this new restriction comes on the heels of a previous effort to freeze casino expansion in Iowa. Lawmakers previously attempted to impose a five-year moratorium on new casino licenses, a measure that cleared the House but ultimately failed in the Senate.

    Webster, who managed that moratorium bill, represents a district that includes two competing casinos: Rhythm City Casino Resort in Davenport and Isle Casino Hotel Bettendorf. Market studies have suggested that a new casino in Cedar Rapids could siphon revenue from these establishments, a concern for legislators representing those regions.

    The timing of this new proposal raises questions. Cedar Rapids Mayor Tiffany O’Donnell expressed frustration, stating that recent legislative efforts appear specifically aimed at derailing the Cedar Crossing Casino project.

    “In light of a series of bills that appear to target Cedar Crossing, we will do as we have from the beginning: Follow the process, adhere to the law, and act in the best interest of the thousands of Linn County voters who twice approved gaming in our community,” O’Donnell said in a statement.

    What’s at Stake for Cities and Casinos?

    Urban renewal areas in Iowa allow local governments to direct resources toward economic revitalization. These areas often rely on tax increment financing (TIF), which enables cities to reinvest tax revenues from new developments into infrastructure and public services.

    While casinos can be lucrative for local economies, lawmakers backing the bill argue that gambling projects should not be eligible for urban renewal incentives, even if they contribute to job creation and tax revenue.

    A few key points stand out:

    • Casinos that receive licenses before 2025 would not be affected by the proposed law.
    • Cities could still designate urban renewal areas, but gaming projects wouldn’t qualify for certain financial incentives.
    • Cedar Rapids’ casino, though located in an urban renewal district, has not applied for TIF funding, potentially rendering this bill irrelevant to its development.

    Next Steps for the Legislation

    Senate Study Bill 1159 and House Study Bill 208 are now set to move through the legislative process, with a public hearing scheduled for 11 a.m. Thursday at the Iowa Capitol.

    Whether the bills gain traction remains to be seen. Previous attempts to curb casino expansion in Iowa have faced resistance, particularly from communities that rely on gaming revenue to fund public projects. However, with some lawmakers pushing to limit casino growth, the debate over gambling’s role in economic development is far from over.

  • Mohegan Challenges Bain Capital’s Takeover of South Korea’s Inspire Resort

    Mohegan Challenges Bain Capital’s Takeover of South Korea’s Inspire Resort

    Mohegan Tribal Gaming Authority is pushing back against Bain Capital’s takeover of its South Korean integrated resort, arguing that the move is not in the best interests of the property, employees, customers, or other lenders. The dispute underscores the financial and operational complexities surrounding the multi-billion-dollar development, which was envisioned as a premier gaming and entertainment destination in Asia.

    Bain Capital Takes Control Amid Financial Tensions

    Bain Capital, the main lender to MGE Korea Limited, seized control of Inspire after accelerating its mezzanine loan. This move effectively handed the U.S.-based private equity firm operational control of the resort, which opened its non-gaming facilities in November 2023 and launched a foreigner-only casino in February 2024.

    Mohegan, however, is pushing back. The company maintains that while the resort has faced “near-term hurdles” typical of large-scale projects, the essential elements for long-term success are in place. It argues that Inspire simply needs more time to reach its full potential.

    Financial Covenant Dispute Heats Up

    Mohegan acknowledged it had fallen short on certain financial covenant tests but was quick to clarify that it has not missed any principal or interest payments. The loan from Bain Capital isn’t due until May 2027, with no required principal payments before then.

    In a statement, Mohegan revealed it had made multiple “good faith proposals” to modify the loan terms in line with industry norms. However, Bain Capital reportedly rejected these offers and instead sought conditions that would prioritize “large payments ahead of other Inspire lenders.”

    The casino operator sees this as an aggressive move, suggesting that Bain Capital is leveraging the situation for financial gain rather than acting in the best interests of the resort’s long-term growth.

    Mohegan’s Broader Commitment to South Korea

    Beyond the immediate dispute, Mohegan is highlighting its broader contributions to South Korea. Since securing its casino license in 2016, the company says it has played a role in job creation, economic development, and regulatory compliance.

    Mohegan emphasized that its approach is based on family ownership values, which prioritize regulatory integrity, public safety, and community engagement. The company insists that these principles were key reasons why South Korean authorities awarded it the license in the first place.

    Negotiations Remain Open, But Uncertainty Looms

    Despite the ongoing dispute, Mohegan says it remains open to dialogue with Bain Capital. The company reiterated its willingness to negotiate in good faith, hoping to reach a resolution that benefits all parties involved.

    “We have been and will continue to attempt to negotiate in good faith with Bain Capital to find a mutually agreeable solution,” Mohegan said.

    At the heart of the conflict is a significant financial burden. As of December 31, 2024, Mohegan’s Korea Term Loan had a face value of $460.7 million, with a book value of $436.9 million. Additionally, a separate Korea Credit Facility, set to mature in 2025, held a face value of $685.9 million and a book value of $669.5 million.

    While Mohegan has acknowledged difficulties in meeting some financial performance targets, it maintains these issues are not related to any failure to meet payment obligations at Inspire.

    The coming months will likely determine the fate of Mohegan’s South Korean ambitions, as negotiations with Bain Capital and interactions with local regulators shape the future of the multi-billion-dollar resort.

  • Churchill Downs Plans $920 Million Expansion Ahead of 154th Kentucky Derby

    Churchill Downs Plans $920 Million Expansion Ahead of 154th Kentucky Derby

    Churchill Downs Incorporated (CDI) is going all in on a massive expansion for its legendary racetrack in Louisville. With a $920 million investment, the company aims to redefine the Kentucky Derby experience by 2028. From upgraded seating to high-end hospitality, this ambitious overhaul is set to make history—just in time for the 154th Run for the Roses.

    A Record-Breaking Bet on the Future

    Fresh off the success of the 150th Kentucky Derby, which brought in an estimated $434 million in economic impact, CDI isn’t wasting time capitalizing on momentum. The planned renovations will be rolled out in phases from 2025 to 2028, with the first steps hinging on approval of financial incentives from local and state authorities.

    In 2025 alone, the company plans to pour $130 million into the upgrades. This is more than just a facelift—it’s a strategic play to secure the long-term growth of the Derby and cement Churchill Downs as a world-class venue for racing and entertainment.

    The Skye Project: Elevating the Derby Experience

    One of the biggest changes will be the transformation of the Skye Terrace into a five-story luxury structure. The Skye Project will:

    • Replace 11,500 uncovered box seats with 13,300 premium seating options
    • Extend from just past the finish line to the First Turn Club
    • Provide alternative premium seating during construction

    While the initial phases will be ready for the 153rd Kentucky Derby in 2027, full completion is set for 2028. The goal? A better, more immersive experience for fans who want a mix of tradition and modern comforts.

    Major Changes Coming to the Infield

    The infield—historically a mix of general admission chaos and temporary suites—is about to see a permanent transformation. The Conservatory Project will replace temporary structures with long-term premium seating, boosting hospitality options from 2,100 to 7,000.

    This shift means more luxury experiences for Derby guests, fewer logistical challenges with setting up temporary facilities, and a better overall flow for one of the most iconic sporting events in the country.

    Phased Rollout: What to Expect Each Year

    Here’s a breakdown of the timeline:

    Year Investment Key Developments
    2025 $130M+ Initial construction approvals, groundwork for Skye & Conservatory projects
    2026 TBD Continued Skye Project development, early Conservatory work
    2027 TBD Partial completion of Skye Project for 153rd Derby
    2028 $920M Total Full completion in time for 154th Derby

    What This Means for Churchill Downs and Kentucky

    For CDI, this expansion is a long-term play. A more luxurious, high-end experience means higher ticket prices, more premium seating, and an overall increase in revenue.

    For Louisville and Kentucky, the move brings more jobs, tourism dollars, and economic growth. As the Derby’s impact has already proven, improvements to Churchill Downs send ripples across the entire region.

    The stakes are high, but if the past is any indication, Churchill Downs is making the right bet.

  • Alabama Sports Betting Bill Struggles to Gain Support in Senate

    Alabama Sports Betting Bill Struggles to Gain Support in Senate

    Efforts to legalize sports betting in Alabama are hitting a wall, with key supporters admitting they don’t have the votes needed to push legislation forward. Sen. Greg Albritton, a long-time advocate for gambling expansion, says he’s short of the 21 votes required in the Senate—and without them, there won’t be a bill.

    No Bill Without the Votes

    Albritton made it clear: if he had the votes, there would already be a bill on the table. But the reality is different. Speaking on Capitol Journal, a local political television show, he didn’t sugarcoat the situation.

    “I would have a bill today dropped if I had 21 votes in the Senate,” Albritton said. “I don’t have 21 votes in the Senate.”

    That’s a tough spot for anyone pushing for legalized sports betting in a state where gambling remains a controversial issue. Alabama is one of just five states without a lottery, and previous attempts to pass gambling bills have all hit roadblocks. Even last year, when the Alabama House approved a gambling package, the Senate shut it down.

    A “Moral Obligation” to Regulate Gambling?

    Albritton is framing the issue as more than just money—he says it’s about responsibility. He believes Alabama has a duty to regulate gambling, not just let it happen in the shadows.

    “Last week, before Sunday’s Super Bowl, bets were being made in the State House,” he said. “I’ll say it that way. Bets were being made.”

    That’s a telling admission. If gambling is already happening—unregulated, untaxed, and outside the law—why not legalize and control it? Albritton even joked about Alabama native Jalen Hurts making people money in the Super Bowl, a reference to widespread betting.

    But moral arguments haven’t been enough to sway the Senate. Even with public interest and growing pressure, lawmakers remain divided.

    Tribal Influence and Political Maneuvering

    One of the biggest question marks in this debate is the role of the Poarch Band of Creek Indians (PCI). They’re Alabama’s only federally recognized tribe, and they’ve been making moves that suggest they’re preparing for gambling expansion.

    • In November 2024, PCI hired Fine Geddie, a powerful lobbying firm.
    • They recently bought Birmingham Racecourse, raising speculation about their intentions.

    Some thought tribal lobbying efforts could tip the scales in favor of gambling legislation. But Albritton says that’s not happening.

    “It doesn’t seem to [help],” he admitted. “I can’t seem to get my 21 votes.”

    That raises a bigger question: what, if anything, could change lawmakers’ minds? If lobbying, public demand, and economic incentives aren’t enough, what will be?

    What’s Next for Alabama Gambling?

    Senate President Pro-Tem Garlan Gudger suggested earlier this year that lawmakers might discuss the issue early in the session if interest was high enough. But with Albritton struggling to find the votes, that seems unlikely.

    For now, Alabama remains stuck in place. No lottery, no legal sports betting, and no clear path forward. Other states are raking in revenue from legalized gambling, while Alabama continues to debate whether to even bring the issue to a vote.

    Unless something changes, sports betting in Alabama will stay exactly where it is: happening behind closed doors, outside of state control, and without contributing a dime to public funds.