Justin Schneider, Herald Bulletin
In less than nine months, Hoosier Park will enter its second phase.
Officials anticipate the completion of a $30 million, 92,000-square-foot casino next June. The addition of slot machines and other electronic gaming is expected to generate 500 additional jobs for Madison County.
"We have a starting gate here for a reason," said Hoosier Park President Rick Moore during the ceremonial groundbreaking on Tuesday. "This is the start to a new beginning, and it also represents the connection between horse racing and gaming."
Hoosier Park opened in September 1994, but the history of Indiana's first pari-mutuel horse racing track is richer and longer than just the past 13 years.
The Indiana General Assembly first discussed pari-mutuel wagering in 1967, but no bill was passed until March 1989. That year, Gov. Evan Bayh created the Indiana Horse Racing Commission on April 26.
On July 25, 1990, businessman Virgil Cook donated 140 acres of land to the city of Anderson for the creation of a track. The property lay east of Indiana 9 between 38th and 53rd streets.
Valued at over $2 million, the donation represented the largest single gift ever made to the city. Cook was given the Chief Anderson Award and a major road leading to the racetrack was named for him.
"Naturally, I'm pleased and I'm flattered," Cook said. "They're doing this because I donated the ground for the track. They felt like it was only in keeping that I should be recognized."
Anderson pledged to make several improvements to the property using a tax increment financing (TIF) bond, not to exceed $3 million. It included construction of a 5/8-mile track surface (later lengthened to 7/8 and, finally, 1 mile), lighting, 150 horse stalls, a two-acre horseman's parking area, construction of a four-lane boulevard entrance from 53rd Street north to the racetrack, sewer and utility connections to the site, a horseman's access road from Rangeline Road, traffic signals and improvements to 53rd Street and the track entrance.
Construction of Hoosier Park began on June 30, 1993.
"This is a really major event within our community," said then-Mayor J. Mark Lawler. "We're breaking ground for history."
The track meant around 250 jobs for area residents and was expected to generate $1.26 million in taxes annually. Talk of a factory outlet mall near Hoosier Park swirled in May 1993. Lawler said he envisioned an electric shuttle to transport patrons from Hoosier park to the mall. While not every dream came to fruition, Hoosier Park did spur the development of Indiana 109.
"Our hopes is it will increase the economic development we're having in the south part of the city," said Jerry Shine, attorney for the Anderson Redevelopment Commission at the time.
In September 1993, the board of directors for Churchill Downs - the biggest name in horse racing, world famous for the Kentucky Derby - approved up to $7 million in loans to the developers of Hoosier Park. By Jan. 20, 1994, the company had purchased Anderson Park Inc. and settled more than $750,000 in outstanding debt. Churchill Downs would be the guiding force for Hoosier Park for more than 13 years.
"We are happy to have this opportunity to assist in bringing pari-mutuel entertainment to Indiana," said Thomas Meeker, then president and CEO of the Louisville track. "By stepping forward at this time, we can provide an opportunity for the Anderson Park project to move forward without delay."
Hoosier Park opened its doors on Sept. 1, 1994, welcoming 7,633 patrons, while another 2,000 had to be turned away. Gregg Haston won the inaugural race in a time of 1:58.4 behind B K Bentley.
Hoosier Park received initial approval for 80 dates of live racing. The schedule was expanded to 135 days in 1995 to accommodate thoroughbred racing.
January 1994 saw the opening of Hoosier Park's first off-track betting facility in Merrillville. A second location in Fort Wayne would follow in April 1995 and a third in Indianapolis in October 1995.
March 2001 saw Hoosier Park President Jeff Smith accept a position as president and CEO of Centaur Inc. Rick Moore, then executive vice president and general manager, was chosen as his successor. In a few short years, the fates of Hoosier Park and Centaur would be inextricably linked.
Indiana's second pari-mutuel horse racing track, Indiana Downs, opened in Shelbyville in December 2006. Many feared that the project would hurt Hoosier Park and, to some extent, that seems to be true.
According to Indianapolis Business Journal, total wagering decreased during Hoosier Park's 14th season of standardized racing that ended June 30. Total wagering was down to $46,785,776, an 18-percent decline from the previous season, which was one day shorter.
An average of 774 people a day visited Hoosier Park last season. Attendance was down nearly 6 percent from the previous season.
But the quality of racing at Hoosier Park has undoubtedly improved. In November 2003, The American Graded Stakes Committee announced that the Indiana Derby was being upgraded from Grade III status to Grade II. That puts the race one step below horse racing's triple crown of the Kentucky Derby, Belmont Stakes and Preakness.
The addition of slot-machine gaming, however, is the biggest news surrounding Hoosier Park since its inception.
In April, the Indiana General Assembly approved a bill authorizing slot-machine gaming at Indiana's two pari-mutuel horse racing tracks. In August, Hoosier Park owner Centaur Inc. announced plans to construct a 92,000-square-foot casino to house slot machines.
"We're seeking greater investment and greater job opportunities," said Mayor Kevin Smith. "No. 1, this is a multimillion-dollar investment in our city. It will support our city infrastructure and bring a whole array of new jobs."
Hoosier Park officials expect the $30 million casino to be complete in June 2008. Last month, during a meeting of the Indiana Horse Racing Commission, Indiana Downs officials announced plans to open a temporary casino as early as April.