Purses up sharply for first half of Churchill Downs meet

Total purses distributed during the first 19 days of the 38-day spring meet at Churchill Downs will be up 46 percent over the same dates in 2018, the racetrack announced on Thursday, due largely to revenue from a casino Churchill opened in Louisville, Ky., last year.

Purses in the track’s first condition book for the spring meet total $20.1 million for 189 races, according to the track, up from $13.7 million for the first condition book last year. Churchill also said total purse distribution for the meet will be approximately $30 million, up from $22.2 million last year.

Churchill opened a casino last year at its Trackside training facility, and a portion of the revenue from its 900 so-called historical horse-racing machines is earmarked for purses at the track. Revenue from the casino, Derby City Gaming, has greatly exceeded the company’s expectations.

“This is such an exciting time to be part of Kentucky racing,” said Kevin Flanery, the president of Churchill. “Our investment into Derby City Gaming … continues to pay dividends to Kentucky horsemen.”

Though the 2019 purse total for the first condition book includes roughly $2 million in increases to the track’s stakes races that have already been announced – including a $1 million boost to the Kentucky Derby – the impact on the track’s overnight races will be substantial. Derby Week maiden races will go for $100,000, while post-Derby Week maiden races will go for $85,000, up from $53,000 last year. Allowance races during Derby Week will go for $103,000 to $110,000.

Post-Derby Week daily average purses will be $525,308, the track said, up 47 percent over the daily average last year of $356,769 for the same time period. The per-race average purse will climb from $38,016 last year to $55,975, the track said.

Churchill also said that the winner’s share of each purse this year will drop from 60 percent to 56 percent. The portion of the purse available to all horses who run sixth through last will increase from 0.5 percent to 1.5 percent, the track said.

Churchill’s spring meet runs April 27 through June 29.