Turfway Park – UofL News Fri, 17 Apr 2026 17:45:05 +0000 en-US hourly 1 Financial impact of Churchill Downs and Derby week /post/uofltoday/financial-impact-of-churchill-downs-and-derby-week/ Fri, 28 Apr 2023 18:56:03 +0000 /?p=58472 The Derby is good for business in Louisville and Kentucky.
, an economics professor in the has compiled a new report on the economic impact of Churchill Downs and Kentucky Derby week activities in the Louisville metro area. The report includes estimates of returns on tax incentives.
Using data from the Kentucky Horse Racing Commission, Churchill Downs, the U.S. Bureau of Economic Analysis and IMPLAN, a software program for assessing economic impact, Lambert reports that in a typical year, the Derby and Churchill Downs generate $396 million in direct, indirect and induced spending and approximately $47 million in local, state and federal tax revenue.
  • Estimated Derby week economic impact of Churchill Downs: $302 million
  • Estimated Derby week direct, indirect and induced spending on hotels, restaurants, etc.: $94 million
  • Total Derby week economic activity: $ 396 million
Lambert estimates that local and state governments provide $3-4 million in tax incentives and services to Churchill Downs and the Kentucky equine industry each year. However, these tax losses are offset by $17 million in tax revenue for local and state government generated by Churchill Downs and local businesses during Derby week.
In the report, Lambert also shows some of the impact of COVID-19 on Derby-related revenue in 2020 and 2021, which significantly reduced revenues for Churchill Downs, the community and taxing authorities.
Lambert notes that thanks to Derby week and diversification into historical horse racing and racing casinos like Turfway Park in Florence, Kentucky, Churchill Downs has offset a trend of declining revenues and attendance at most racetracks, including its own, in the United States.
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Entrepreneur honored for developing safer racetrack surface /post/uofltoday/entrepreneur-honored-for-developing-safer-racetrack-surface/ Mon, 27 Feb 2023 15:00:24 +0000 /?p=58104 Michael Dickinson has spent his life deeply involved in the horse industry, first as a steeplechase jockey and trainer, as a Thoroughbred trainer and most recently as an innovator of racetrack surfaces. Over the past two decades, Dickinson has developed and refined Tapeta Footings, an all-weather synthetic material designed to improve safety for both equine and human athletes.

In recognition of his innovations to improve the safety of horse racing, thehas named Dickinson the 33rdrecipient of the John W. Galbreath Award for Outstanding Entrepreneurship in the Equine Industry.

“The safety of the horse has always been a long-term goal of mine ever since I was a child when on small ponies I had to keep up with my mother who was on a Grade A International Showjumper. We used to jump post and rail fences, some with ditches and drops, and stone walls. Since then, I’ve always felt very grateful and indebted to all the horses I rode,” Dickinson said.“I am honored and flattered to receive the Galbreath Award.”

Michael Dickinson, developer of Tapeta Footings, is the 33rd Galbreath Award recipient
Michael Dickinson, developer of Tapeta Footings, is the 33rd Galbreath Award recipient

A native of Yorkshire, England, Dickinson was a champion steeplechase jockey and trainer prior to becoming a successful Thoroughbred trainer in the United Kingdom. Since coming to the U.S. in 1987, he has won more than 80 stakes races in the U.S. and Canada. In 2000, he led all New York-based trainers with a win percentage of 35% from starters. One of his greatest achievements in training was conditioning 1996 Breeders’ Cup Mile winner Da Hoss to a repeat win in that race’s 1998 renewal at Churchill Downs after a two-year layoff.

Dickinson is a member of the Steeplechasing Hall of Fame and has four listings in the Guinness Book of World Records, including the record for the most racing wins in one day – 12.

In 1996, Dickinson began building his own Thoroughbred training facility, , in Maryland, employing the most innovative technology in equine care and horse husbandry. Unsatisfied with available track footings, he began developing , now recognized as a safe, consistent all-weather synthetic surface for racing and training Thoroughbred horses.

“The focus on safety for its equine and human athletes is paramount in horse racing today,” said Michele Fischer, president of horse racing and gaming consulting firm Darting Star LLC in his nomination. “Michael has demonstrated a willingness to take personal and career risks in the development of a new racing surface. In the beginning, he was met with great reluctance by an industry resistant to change. He has continued to refine the science and today the Tapeta surface has been installed at racetracks and training centers across the world.”

Tapeta 10, the latest version of Tapeta Footings, has substantially reduced equine fatalities and outperformed conventional dirt and turf surfaces. Tapeta surface has been installed at Turfway Park in Kentucky and at Gulfstream Park in Florida, Golden Gate Fields in California and Presque Isle Downs in Pennsylvania as well as facilities in Canada, Australia, the United Arab Emirates and the United Kingdom.

“We are excited to present the 2022 Galbreath Award to Michael Dickinson for his contribution to the sport of racing through the creation of Tapeta and synthetic track surfaces,” said K. Amy Lawyer, assistant professor and chair of UofL’s Department of Equine Administration. “The nature of the Galbreath Award is to recognize innovation and business efforts that move the equine industry forward. Mr. Dickinson’s business achievements added a new element to a sport that had been largely unchanged for centuries.”

Recipients of theGalbreath Awardare selected by a committee of faculty in the in the UofL College of Business.

The award is named for the late John W. Galbreath, a self-made man who distinguished himself in both business and as a horseman. The 32nd Galbreath Award recipient was Tom Aronson,an original business architect of two of the most successful companies the history of horse racing, the Television Games Network (TVG) and Exacta Systems, both of which became billion-dollar wagering companies. A list of all Galbreath Award laureates and nomination information is available at the website.

For information on the award presentation dinner to honor Dickinson to be held March 30, contact Kimberly Spear at kimberly.spear@louisville.edu or 502-852-7727. A video of the presentation of the Galbreath Award will be available on the after the event.

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