The £50 million project would triple the number of people the track can house under cover.
Betfred, the majority stakeholder at the Chelmsford racecourse, said: “This is an exciting project that will create more than 100 jobs.
“It’s a substantial investment in the race track, providing under cover facilities as many race goers demand.
““We hope the plans are given the go-ahead and we can bring a higher standard of races to Chelmsford
”
News of the venture prompted stark warnings from a gambling charity, urging people to bet sensibly.
Ian Semel, an ex-gambling addict and founder of Breakeven, a gambling counselling service operating in Essex, said: “I’m no party pooper and I believe there is nothing wrong with gambling if you gamble responsibly, but it’s a numbers game.
“The more time people spend gambling the more chance there is in developing a problem. And the more people who gamble then the more people who will develop a problem.”
If approved, part of the east side grandstand could be overhauled into a casino, making the racecourse host to only a handful of the venues across the county.
The plans also show about two thirds of the ground would be used for outside concerts, similar to the Madness concert in June last year.