• Sat. Apr 1st, 2023

Keeneland Breeders’ Cup Boosts Economy Much more than $80 Million


Mar 18, 2023

(Breeders’ Cup at Keeneland / Coady Photography)

From the Keeneland Media Group:

The 2022 Breeders’ Cup Globe Championships at Keeneland Race Course generated a total estimated economic influence of $81,846,897 in Lexington, Ky. and the surrounding locations. Determined by a existing study led by University of Louisville Economics Professor Thomas E. Lambert, Ph.D., the final outcomes represent the second-highest economic influence recorded in Breeders’ Cup history, following the record set in 2017 at Del Mar. The study’s final outcomes serve as a testament to the continued improvement of the Breeders’ Cup, Breeders’ Cup Festival, and Thoroughbred racing, as correctly as the undeniable worth all three present to their host communities.

On prime rated of these glowing economic indicators, the 2022 Breeders’ Cup Globe Championships, held final Nov. 4-5, generated record worldwide wagering of $189.1 million, the highest in Breeders’ Cup history, 3.4 % higher than the prior record of $182.9 million set in 2021. Records have been also set for individual day wagering totals with Future Stars Friday registering $66.1 million and the Championship Saturday strategy amassing $122.9 million.

The economic added positive aspects of the Breeders’ Cup quantified in this study include:

  • $30.5 million in on-track spending like 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 $7.5 million in labor and material charges generated by the projects boosting the Lexington economy by an estimated $17.5 million all round
  • $900,000 secured in state and neighborhood tax revenues and $5.3 million secured in federal tax revenues

“When the Breeders’ Cup comes to town, Lexington has the possibility 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 finest track in the planet, Keeneland, and to the finest Thoroughbreds,” Mayor Linda Gorton stated. “However, the Breeders’ Cup is about a lot additional than bragging rights. The occasion has a considerable economic influence that aids our hotels, our restaurants, and our entire neighborhood.”

“We are proud of the optimistic economic influence the 2022 Globe Championships had on the Lexington neighborhood, our hometown,” stated Drew Fleming, President and CEO of the Breeders’ Cup. “After enduring a worldwide pandemic, we held correct to our word and returned to Keeneland just two years ideal right after the 2020 edition with an understanding of the necessary boost the Globe Championships would give neighborhood organizations. Keeneland and Lexington are intimately connected to the history of our fantastic sport, and it was astounding to operate with our incredibly engaged neighborhood to host an occasion that benefited everyone involved. I also enjoyed when when additional obtaining the possibility to operate 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 Globe, and collaborate with neighborhood organizations to foster economic improvement possibilities for the region and neighborhood members.”

In tandem with the economic successes and neighborhood influence of the 2022 Breeders’ Cup, the Globe Championships featured two days of finest-in-class racing beneath the safest achievable situations to benefit horses, riders, participants, fans, and bettors. Ticket purchasers traveled to Lexington from all 50 states and from 18 distinctive nations, contributing to a considerable increase in targeted visitors at Blue Grass Airport. Breeders’ Cup also successfully promoted several charitable initiatives all by way of the week.

“The final outcomes of this study show with certainty that Lexington completely embraces the Breeders’ Cup,” Keeneland President and CEO Shannon Arvin stated. “Breeders’ Cup and Keeneland share a mission to conduct racing at the highest levels of higher high-quality, safety, and integrity, and to contribute to our neighborhood. It was a pleasure to operate when additional with Drew Fleming and the group at Breeders’ Cup, and we thank them, our sector partners, and Central Kentucky enterprise and civic leaders who teamed with us to present 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 economic influence,” stated Mary Quinn Ramer, president of VisitLEX. “We know there is no far greater spot about the globe for championship racing than ideal right here in Lexington, the Horse Capital of the Globe, and we applaud Breeders’ Cup’s option to bring the 2022 occasion to our city.”

The 2023 Breeders’ Cup Globe Championships will be held Nov. 3-4 at Santa Anita Park in Arcadia, California.


Leave a Reply