• Tue. Mar 28th, 2023

Keeneland Breeders’ Cup Boosts Economy More than $80 Million


Mar 18, 2023

(Breeders’ Cup at Keeneland / Coady Photography)

From the Keeneland Media Group:

The 2022 Breeders’ Cup Planet Championships at Keeneland Race Course generated a total estimated financial effect of $81,846,897 in Lexington, Ky. and the surrounding places. Determined by a current study led by University of Louisville Economics Professor Thomas E. Lambert, Ph.D., the benefits represent the second-highest financial effect recorded in Breeders’ Cup history, following the record set in 2017 at Del Mar. The study’s benefits serve as a testament to the continued development of the Breeders’ Cup, Breeders’ Cup Festival, and Thoroughbred racing, as effectively as the undeniable worth all 3 deliver to their host communities.

On top rated of these glowing financial indicators, the 2022 Breeders’ Cup Planet Championships, held final Nov. four-five, generated record international wagering of $189.1 million, the highest in Breeders’ Cup history, three.four % greater than the prior record of $182.9 million set in 2021. Records have been also set for person day wagering totals with Future Stars Friday registering $66.1 million and the Championship Saturday system amassing $122.9 million.

The financial added benefits of the Breeders’ Cup quantified in this study incorporate:

  • $30.five million in on-track spending such as wagering, concessions, parking, merchandise, and additional
  • $33.six million in spending on hotels, retailers, meals and drink, transportation, and off-track entertainment
  • $ten million in track improvement investments for Keeneland Race Course, with $7.five million in labor and material fees generated by the projects boosting the Lexington economy by an estimated $17.five million general
  • $900,000 secured in state and regional tax revenues and $five.three million secured in federal tax revenues

“When the Breeders’ Cup comes to town, Lexington has the chance to step into the international spotlight and demonstrate why we are identified as the Horse Capital of the World–clearly, we’re residence to the greatest track in the planet, Keeneland, and to the greatest Thoroughbreds,” Mayor Linda Gorton mentioned. “However, the Breeders’ Cup is about significantly additional than bragging rights. The occasion has a considerable financial effect that assists our hotels, our restaurants, and our whole neighborhood.”

“We are proud of the good financial effect the 2022 Planet Championships had on the Lexington neighborhood, our hometown,” mentioned Drew Fleming, President and CEO of the Breeders’ Cup. “After enduring a international pandemic, we held correct to our word and returned to Keeneland just two years immediately after the 2020 edition with an understanding of the necessary enhance the Planet Championships would give regional firms. Keeneland and Lexington are intimately connected to the history of our wonderful sport, and it was great to function with our extremely engaged neighborhood to host an occasion that benefited every person involved. I also enjoyed as soon as once more obtaining the chance to function with Keeneland President and CEO Shannon Arvin, Festival Chairman Kip Cornett, the VisitLEX Tourism Board, and Mayor Linda Gorton to execute a prosperous weeklong occasion, welcome guests from about the planet to the Horse Capital of the Planet, and collaborate with regional firms to foster financial development possibilities for the area and neighborhood members.”

In tandem with the financial successes and neighborhood effect of the 2022 Breeders’ Cup, the Planet Championships featured two days of greatest-in-class racing below the safest probable situations to advantage horses, riders, participants, fans, and bettors. Ticket purchasers traveled to Lexington from all 50 states and from 18 distinctive nations, contributing to a considerable boost in visitors at Blue Grass Airport. Breeders’ Cup also effectively promoted many charitable initiatives all through the week.

“The benefits of this study show with certainty that Lexington totally embraces the Breeders’ Cup,” Keeneland President and CEO Shannon Arvin mentioned. “Breeders’ Cup and Keeneland share a mission to conduct racing at the highest levels of high-quality, security, and integrity, and to contribute to our neighborhood. It was a pleasure to function once more with Drew Fleming and the group at Breeders’ Cup, and we thank them, our sector partners, and Central Kentucky business enterprise and civic leaders who teamed with us to deliver a warm welcome and outstanding hospitality to fans and racing connections from about the planet.”

“Breeders’ Cup 2022 was an outstanding weekend of racing, hospitality, and financial effect,” mentioned Mary Quinn Ramer, president of VisitLEX. “We know there is no superior location about the globe for championship racing than right here in Lexington, the Horse Capital of the Planet, and we applaud Breeders’ Cup’s selection to bring the 2022 occasion to our city.”

The 2023 Breeders’ Cup Planet Championships will be held Nov. three-four at Santa Anita Park in Arcadia, California.


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