For nearly 90 years, Keeneland has built its reputation on tradition. Shannon Arvin’s job is to make sure tradition doesn’t become an obstacle to what comes next.
Since becoming the storied Lexington, Kentucky, racetrack and auction house’s first female president and CEO in 2021, Arvin has been navigating a leadership challenge familiar to executives well beyond the Thoroughbred industry: how to modernize an institution without diluting what made it valuable in the first place.
That balancing act is now on full display. Keeneland is completing the largest expansion since the track opened in 1936, a more than $100 million Paddock Building designed to transform the guest experience while looking as though it has always belonged there. At the same time, as she shares in the following interview, Arvin is pushing to strengthen the broader Thoroughbred ecosystem, reinvesting Keeneland’s earnings in everything from purses and equine safety to research and aftercare.
Tell me about your journey to becoming Keeneland’s first female president and CEO.
My path to this role has been shaped by a deep respect for Keeneland’s mission and for the people who make it exceptional. I’ve been fortunate to spend much of my life and career within the Thoroughbred industry, beginning with my work as an attorney representing owners and industry organizations, and later through my longstanding relationship with Keeneland as corporate counsel, corporate secretary and an advisory member of the board.
Those experiences have given me a meaningful appreciation for both Keeneland’s traditions and its complexities, as well as the opportunity to work alongside remarkable individuals including horsemen, breeders and my colleagues at Keeneland who are deeply committed to the sport and to helping it thrive.
Keeneland has also been a part of my life for generations. My grandfather began working here before the track opened, and my father devoted much of his career to Keeneland as well. That personal connection has only deepened my sense of responsibility to the institution and its future.
Becoming Keeneland’s first female president and CEO is certainly significant, but what matters most to me is the responsibility that comes with leading an institution like Keeneland. Our focus is on stewardship—honoring what has been built over generations while ensuring we thoughtfully position Keeneland and the industry, for a strong and sustainable future.
Keeneland recently debuted a $100-plus million Paddock Building. Why was this an important next step for the racetrack?
We see the Paddock Building as a meaningful investment in both Keeneland’s future and the experience we offer our guests. The paddock is the heart of race day. It’s where fans feel closest to the horses, and we wanted to elevate that connection in a way that truly reflects its importance.
This expansion is the largest we’ve undertaken since Keeneland opened in 1936 and was introduced in phases, starting with the new East Entrance, the reimagined Saddling Paddock and the Stakes Winner’s Circle in 2025. The interior spaces debut in Spring 2026.
From the very beginning, we were intentional about every aspect of the design, including the materials we used. We wanted the building to blend seamlessly with its surroundings and feel as though it has always been part of Keeneland.
With the construction of the Paddock Building, we wanted to create new vantage points, improve circulation and expand public dining to meet the growing demand from our guests, while also offering distinct spaces that give visitors multiple perspectives on race day. We are fortunate to welcome so many loyal fans each year, and it was important that every visitor feels connected to the action in a meaningful way.
While the Paddock Building transforms the race-day experience, it was also designed for year-round use. As the world’s largest Thoroughbred auction house, and the only track that also hosts sales, we hold five auctions annually and this building allows us to better support our sales clients and enhance their experience.
More broadly, it gives us the flexibility to engage with everyone who comes to Keeneland throughout the year, whether for racing, sales or private events.
Keeneland is deeply rooted in tradition. How do you balance honoring that heritage while evolving the experience for today’s racing fans?
At Keeneland, tradition isn’t something we simply preserve—it’s something we carry forward with intention. Every decision we make is guided by our mission that was set forth by our founders more than 90 years ago: to showcase the very best of the sport, to give back to the industry and our community and to always do what is best for the horse. We deeply respect our history, but we also recognize our responsibility to evolve and engage future generations of racing fans.
Striking that balance requires careful thought. We constantly consider how the changes we make can enhance the experience without compromising what makes Keeneland special. Whether it’s a major capital project like the Paddock Building or smaller operational improvements, our goal is always the same: to ensure that the essence of Keeneland remains intact.
You’ve spoken about how Keeneland operates like a nonprofit. How is Keeneland investing revenue from sales back into the Thoroughbred community?
Keeneland’s model is somewhat unique in that we reinvest our earnings back into the industry that sustains us. Revenue generated through our sales is directed toward initiatives that strengthen the entire Thoroughbred ecosystem.
That includes supporting purses, which in turn incentivize participation at all levels of racing, as well as funding critical industry initiatives related to equine safety, care for horses beyond their racing careers and scientific research. We also invest in our facilities and operations to ensure that we continue to provide a world-class platform for both sales and racing.
Our approach is about stewardship. We see ourselves as leaders in the industry, and we take seriously our role in helping to ensure its health, integrity and long-term viability.
