Hollywood Park, the prime southern California thoroughbred racing venue, was in established in 1938 as the Hollywood Turf Club. In 1992 the Hollywood Park Operating Company decided adding a casino to Hollywood Park would transform the venue into what they termed 'a bettor's paradise'. It became a cultural landmark.

Hollywood Park Casino was the first casino in the United States to be located at a racetrack. The world’s largest neon sign sits on its roof, spelling out the word “CASINO.” The sign is readable by airplane passengers landing at night at the Los Angeles International Airport.

In 1999 the Hollywood Park Operating Company sold the Hollywood Park Racetrack and Casino to Churchill Downs, and leased back the casino.