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LEXINGTON, Ky. (AP) — The Kentucky Horse Racing Commission has approved the sale of Turfway Park to Churchill Downs.

News outlets report the commission on Tuesday unanimously approved Churchill Downs' bid to buy Turfway Park for $46 million.

Churchill President Kevin Flanery says the purchase is a $150 million investment in Kentucky racing. That figure includes the purchase price.

Flanery says the venue will be renamed New Turfway Park and will feature a new grandstand with retractable seats for events outside of racing, a simulcast center, inner dirt track and installation of 1,500 historical racing machines.

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New Turfway Park is expected to hire up to 400 full and part-time positions. It's expected to open in the summer of 2021.

Flanery says construction begins in April.

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This story has been corrected to show the commission is the Kentucky Horse Racing Commission and it approved the sale Tuesday, not Monday.

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