Ranchers held Rodeos and Horse Races, entertaining hands and locals alike since as early as the 1840s. Hence, Ruidoso became a part of what has been today termed “The Old West”. In the 1940s, an informal race track was constructed on the fields situated at the cool pines of Lincoln County, 7,000 feet in the mountains of central New Mexico, Ruidoso Downs, New Mexico. The track sits 189 miles from the middle of Albuquerque up the I-25, another 136 miles from downtown El Paso and only 70 miles from Roswell.

In 1947, the track’s first race occurred, and during that time, the track was still just a little more than a plowed road with volunteers as judges. Then in 1953, the track had its general manager when it was purchased by an Arizona investor, Eugene Hensley. In 1957, the “All American Futurity” was created by Hensley, Carl Mercer, and cowboy musician Ray Reed then added The Rainbow Futurity in 1964.

R.D. Hubbard bought the majority of Ruidoso Downs Race Track in 1988. In 1989, simulcast racing and wagering were added, while Hubbard purchased out Allred in 1991. In addition to this, a sales pavilion and sports theatre were built, where the Ruidoso Select Yearling Sale was held. Aside from horse racing, they also run camel and ostrich races and host concerts of Toby Keith and Emilio Navaira. In 1999, the adjacent casino named Billy the Kid Casino was opened by the Hubbards.