Ainsworth Game Technology and Churchill Downs Incorporated Announce Long-Term Agreement for Ainsworth to Develop Historical Racing Machines for New Facility in Kentucky
LOUISVILLE, Ky. (February 12, 2018) Churchill Downs Incorporated (NASDAQ:CHDN) (“CDI”) and Ainsworth Game Technology (ASX:AGI) (“Ainsworth”) today announced a long-term agreement in which Ainsworth will develop historical racing machines for CDI.
CDI previously announced the investment of approximately $60 million in construction and technology costs to build an 85,000-square foot historical racing machine facility, Derby City Gaming, located in Louisville at 4520 Poplar Level Road, formerly known as Trackside.
Upon receipt of regulatory approval for the newly developed historical racing machines, the Derby City Gaming facility will feature historical racing games on Ainsworth’s entire range of cabinets, including: A640, A600, A600 Slant Top, A560, A560SL Noir and Wide Boy. The titles and platforms have been specifically engineered for historical racing, and will be verified by an independent testing lab and approved by the Kentucky Racing Commission prior to becoming operational.
“Ainsworth has done tremendous work to deliver a modern and exciting pari-mutuel product,” Churchill Downs Racetrack President Kevin Flanery said. “We are eager to install the Ainsworth historical racing machines in our Derby City Gaming facility because we know they will generate significant revenue for Kentucky purses and go a long way to strengthen the Commonwealth’s racing circuit.”
Derby City Gaming is expected to open in the Fall of 2018. In addition to the more than 600 historical racing machines, the facility will include quick service food venues, a feature bar, a player’s club reward center and parking area for VIP guests.
“Ainsworth’s relationship with CDI is reflective of an exciting time in our company,” said Ainsworth CEO Danny Gladstone. “Working on this project with Churchill Downs, a leader in the racing and entertainment business, created an opportunity for us to develop an innovative pari-mutuel product and provide customers with a first class wagering experience.”