Churchill, Horsemen Reach ADW Agreement
Churchill Downs announced it has come to terms with horsemen over advance deposit wagering splits for the 2009 spring meeting at the Louisville, Ky., racetrack.
The Churchill Downs simulcast signal has been blocked from national ADW outlets since the beginning of the 2008 spring meet. Those outlets include TwinSpires.com, the official ADW site for Churchill Downs Inc.
The Kentucky Horsemen’s Benevolent and Protective Association and Kentucky Thoroughbred Association have withheld permission to allow distribution of the track’s simulcast signal to various ADW platforms.
The release follows:
Officials of Churchill Downs Incorporated ("Company" or "CDI") (NASDAQ: CHDN) and representatives of the Kentucky Horsemen’s Benevolent and Protective Association ("KHBPA") and the Kentucky Thoroughbred Association ("KTA") have come to an agreement that allows, under specified terms and conditions, Churchill Downs racetrack to offer its live racing signal for distribution to national advance-deposit wagering ("ADW") platforms, including TwinSpires.com. The agreement covers the 2009 spring meeting at Churchill Downs.
"We are pleased to have reached a mutually acceptable resolution with Kentucky horsemen on this issue," said Steve Sexton, executive vice president of Churchill Downs Incorporated and president of Churchill Downs racetrack. "The real winners today are our customers, who finally will be able to enjoy access to Churchill Downs races when live racing resumes in the spring. We are deeply grateful to our customers for their understanding, loyalty and patience throughout these negotiations."
"We are pleased to have reached a resolution for the spring 2009 meet at Churchill Downs," said Rick Hiles, president of the KHBPA. "We believe the agreement will bring great benefits to our horsemen and will promote Kentucky racing throughout the country."
"We look forward to moving forward together in an effort to preserve and promote racing in Kentucky and at Churchill Downs," said David Richardson, president of the KTA. "This agreement is one step in that important process."
Churchill Downs’ 52-day spring meet opens on Saturday, April 25, 2009. Wagering will be available through TwinSpires.com beginning on opening day and continuing through the close of racing on July 5, 2009. The signal will also be offered to certain other national online wagering companies. Terms for distribution to those ADW companies have not been finalized.
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