Pegasus & Horse Racing
The two Pegasus Co-founders & Brothers, Quinn Millegan & Drew Millegan at Emerald Downs in Washington State
Horse racing is big business with projected 2023 revenues of over $5.5 billion in the United States. While the industry expects 1.3% growth in 2023, the industry has been dying a slow death in Oregon despite very favorable online horse racing regulations and an expensive attempt by the Dutch Brothers co-founder, Travis Bosema, to rescue a quarter horse track in Grants Pass. Older demographics and major competition from other gaming options have eroded the racing industry; but so has the demise of local tracks and the lack of innovation. In other states with active support, the industry has been growing, but not in Oregon. With 2,800 acres Pegasus is making room for a new 2 ½ mile state of the art thoroughbred grass and dirt track right on Interstate 5. This will be the first completely new track built in decades in the Northwest.
Grants Pass Downs in September 2021
Pegasus Equestrian is all about the equestrians, horses, and building a profitable venue/resort that will support the sport for generations. Racing is part of the mix and it fits in well on our site where so many equestrians from around the world will be competing, sleeping, shopping, working, and eating on site. From the inquiries we received and the detailed research we’ve conducted, Pegasus will be full every weekend and most weeks throughout the year with events. On any given weekend, Pegasus will have over 5,000 visitors on site. For major events, this number could be over 25,000 guests who will be looking for things to do. At Pegasus, we are innovating the game and it's very exciting.
Growth takes work to reach the finishing line. According to the Pennsylvania Horse Racing Association:
“Since the inception of the Pennsylvania Race Horse Development Fund in 2004, Pennsylvania’s horse racing industry has steadily been improving, bringing more revenue into the state, which in turn creates more jobs, helps to relieve property taxes, supports Pennsylvania agriculture, and has a positive impact on the state’s hospitality and tourism industry.”
We see the same in other states, but not so far in Oregon. That is about to change with Pegasus. We look forward to hosting you and racing to the finishing line with our own silks. Let us know if you would like to participate in this race as a founding member.
The entitlements are in place with wins in the land use area and in court. There is just one more case scheduled for this fall against the land seller as we move forward. In the meantime Pegasus entailments are protected. The timeline for construction is only delayed by the ongoing litigation.
The equestrian industry on the West Coast desperately needs the Pegasus Equestrian venue to grow the industry and the local economies. There is no other location on the west coast that has the size, easy transportation access (interstate, air and rail), and land use approvals in place that will meet this need. There is unlikely to be another major year round venue built in the West.
Pegasus will meet equestrian sports’ needs for generations. Pegasus, with over 2,800 acres, has land use approval (entitlements) and is moving forward with 3-5 indoor arenas, numerous outdoor grass/sand arenas, 4 grass polo fields, the first Steeplechase and 5-star eventing course on the West Coast, a major on site resort/spa, individual equestrian vacation rentals and so much more.
Quinn Millegan & Drew Millegan at Grants Pass Downs
We are developing what could be the number one show park in North America and a world class destination even if you do not ride in on a horse.
Please go to our Pegasus website (www.pegasuseq.com) to sign up for our VIP list for information, to provide input and/or inquire on strategic partnerships and our PPM.