All bets are on for horse racing aficionados and slot machine fans alike.

Churchill Downs Inc. announced plans to open a new gaming venue Downtown. Derby City Gaming Downtown will be located in the former US Bank building across from the convention center — this will be the second Derby City Gaming in Louisville with the first on Poplar Level Rd.

The announcement to transform the 43,000-sqft building into a casino-like gaming venue comes after Churchill said it would be selling its Arlington Park racetrack in Illinois to the Chicago Bears for $197.2 million.

The venue will also include a fresh-air gaming area. | Rendering provided by Churchill Downs

The main attraction at Derby City Gaming Downtown will be the 500 historic horse racing machines that look, play + feel like a slot machine, but aren’t considering casinos are still illegal in Kentucky.

What differentiates historic racing machines — aka instant racing — and allows them to operate legally is that players are betting on actual past horse races. When a bet is made, a past race is randomly generated and a condensed video or reel of the race shows the predetermined outcome.

Derby City Gaming will be located in the former US Bank building at 4th + Market Streets | Photo by @theloutoday

In addition to historic racing, the venue will also include 3 different bar concepts, a sports bar with live entertainment, a premium bourbon bar + a wine and charcuterie lounge. A Kentucky Derby retail store and 200+ parking spaces will also be onsite.

Derby City Gaming Downtown is on track to open sometime in early 2023 and promises to bring 450 jobs to the area + create $10-$12 million per year in additional purse money for Churchill Downs Racetrack. Now that’s a lot of mint juleps.