Turfway Park opened in Florence, Kentucky, in 1959 as Latonia Race Course. The track is located about 10 miles south of the original Latonia Race Track in Covington, Kentucky, which hosted Thoroughbred racing from 1883 until it was torn down in 1939. The original Latonia was home to the important Latonia Derby, which rivaled the Kentucky Derby in prestige for many years and shared many of the same horses. The Florence track's name was changed to Turfway Park when Jerry Carroll and his partners purchased the facility in 1986.