One of the most recognizable names in horse racing is joining the field in New York’s sprint into big-time gambling. The company that owns Churchill Downs, home of the Kentucky Derby, is teaming up with a track to pursue a full-fledged casino just outside the state capital. The project is one of nearly two dozen coming into focus as the state moves to issue up to four casino licenses. Final bids are due on June 30, with a decision on locations expected in the fall.

On Monday, a state gambling panel assigned to choose casino locations said that bidders in the capital region would be required to invest a minimum of $135 million to qualify for a license. The Churchill Downs project promises a $300 million “world-class destination resort casino,” in East Greenbush, just east of Albany, including a 300-room hotel, restaurants and entertainment facilities, and some 20,000 square feet of retail space.

The company, which is based in Louisville, Ky., and also owns several casinos, is joined by a local enterprise, the Saratoga Casino and Raceway, which had previously sought to expand its gambling operations at a harness track in Saratoga Springs, N.Y., that already has slot-machine-like video lottery terminals. The company, whose owners include James Featherstonhaugh, a prominent Albany lobbyist, abandoned those plans after stiff local resistance.

In a statement, Bill Carstanjen, the president of Churchill Downs Inc., said the East Greenbush project would “create reliable revenues for the entire capital region, generate thousands of jobs, and be best positioned to keep New York gambling dollars in New York.”