The future of the Fairgrounds Racetrack remains uncertain as its owner threatens to shut down operations at the historic venue.
Churchill Downs, Inc., wants Louisiana lawmakers to give it a $20 million subsidy to make up for revenues it says it will lose after the Louisiana Supreme Court ruled that its historical horse racing machines cannot operate without voter approval, negating a 2021 bill legalizing the devices. The company claims that it is losing one of the most substantial investments made in the 188-year-old racetrack, hence the need for the subsidy.
NOLA.com legislative reporter Tyler Bridges says lawmakers are balking at that idea.
"There is no appetite to give Churchill Downs what they want," Bridges said. "Churchill Downs has said that they want money from the state, and legislators are saying, 'Hey, it's a profitable company. Maybe their not making as much as they want in Louisiana, but why should we subsidize them when there are all these other needs in the state?'"
Bridges says city leaders are already exploring options to keep racing at the venue even if Churchill Downs surrenders its state gaming and racing licenses, including a local billionaire considering buying America's second-oldest racetrack still in operation.
"Saints owner Gail Benson recently had lunch with the president of the state senate, Cameron Henry, to discuss a possible purchase by Mrs. Benson of the Fairgrounds and also to keep the racing season going," Bridges said. "I think there are going to be efforts to see that if indeed Churchill Downs is going to pull out, that someone comes in and takes over the racing dates."
Still, Bridges notes that it's too soon to say what the Fairgrounds' fate will be.
"There are a lot of steps still for this to play out, but I think it's fair to say that Churchill Downs is serious about pulling out of the Fairgrounds," Bridges said. "This is going to play out in the coming days, and, obviously, anybody who wants to keep the Fairgrounds open is going to be carefully watching this."
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