Churchill Downs Inc. has received approval for up to $1 million in Kentucky state tax incentives for a possible expansion at its Louisville, Ky., headquarters related to the company's online gambling business.
Churchill Downs Inc. officials said Nov. 6 the company had a "decent" third quarter in 2012 and is poised for growth in 2013-14.
Churchill Downs announced major changes in the "Road to the Kentucky Derby" and Kentucky Oaks June 14, with a points system that rewards top finishes in selected races from this fall through the 2013 edition of the classics.
The success of this year's Kentucky Derby Presented by Yum! Brands (gr. I) and Kentucky Oaks (gr. I) shows there is continued demand for quality racing that combines entertainment, according to CDI chairman and CEO Bob Evans.
Two executives with Churchill Downs indicated June 14 there is a good possibility the track will drop a controversial policy requiring a non-refundable $50 fee for those wanting tickets to the Kentucky Derby.
Churchill Downs Inc. reported net earnings of $1.4 million in the first quarter of 2012, a reversal from a $3.2 million loss during the first three months of 2011.
Churchill Downs Inc. said Oct. 21 it will move its corporate staff from Churchill Downs to building now under construction on the east side of Louisville, Ky., early next year.
The chairman of Churchill Downs Inc. said July 28 that the racetrack and gaming company may not proceed with installation of Instant Racing machines even after pending litigation is finalized, likely some time in 2012.
Though there is no end in sight for the continued declines in North American racing, the newly elected chairman of Churchill Downs Inc. painted a positive picture for the Kentucky-based racetrack and gaming operator.
Alternative gaming in Illinois would be good for Arlington Park but could potentially have a negative impact on Kentucky, according to the chairman of Churchill Downs Inc.
With racing operations continuing to show losses at Churchill Downs Inc., company CEO Bob Evans said May 9 that it would be hard for CDI to justify capital expenditures on racetracks, except in special cases.
Churchill Downs Inc. plans to expand beyond pari-mutuel wagering should online gambling be legalized on the state or federal levels, company officials said March 15.
Churchill Downs Inc. reported net earnings from continuing operations of $19.6 million in 2010, up from $17.7 million for 2009.
During an event with political overtones, Churchill Downs Inc. introduced its renovated TwinSpires.com offices in Lexington Feb. 15 with a message: We'll invest in Kentucky as long as it remains horse capital of the world.
- By Tom LaMarra
Churchill Downs Inc. president and chief executive officer Bob Evans said Dec. 7 there are reasons to be optimistic about the future of horse racing -- but not without major changes in the way the industry does business.
Churchill Downs Inc. reported net earnings of $3.7 million for the third quarter of 2010, up considerably from a net loss of $1.2 million for the same period in 2009.
Churchill Downs racetrack's move into the concert business proved to be an "expensive education," and despite an estimated $5 million loss on the HullabaLOU music festival there are plans to bring it back next year.
The ability of Churchill Downs Inc. to expand into online wagering, casino-type gaming, and entertainment offerings at its four racetracks has enabled the company to continue to grow.
When Kentucky Gov. Steve Beshear and representatives of Breeders' Cup and Churchill Downs announced the track was selected to host the World Championships in 2011, the lawmaker who pushed for tax breaks wasn't on hand.
By selecting Churchill Downs to host the Breeders' Cup World Championships for two years in a row (2010-11) the Breeders' Cup is sending a message it is unlikely the annual event will return to smaller venues.
Churchill Downs, the host of this year's Breeders' Cup World Championships and listed as a possible site for the 2011 event, will have a special announcement that will be attended by Breeders' Cup officials on June 11.
The president and CEO of Churchill Downs Inc. said March 3 his company is not opposed to proposed legislation in Kentucky that would impose a .5% tax on advanced deposit wagers from the state's residents.
When Churchill Downs Inc. released its 2009 annual report March 2, it offered a clear picture of the shift in wagering trends from racetracks to online and telephone wagering.
Elizabeth Harris, executive director of Thoroughbred Charities of America since 2004, has been named vice president of communications for Churchill Downs Inc. Harris will assume her new role Aug. 20.
The Kentucky Derby Presented By Yum! Brands (gr. I) will continue to thrive at Churchill Downs on the first Saturday in May. It's the rest of the year that's a problem for racing venues in the self-proclaimed "horse capital of the world."
Kentucky racetrack operators said May 20 the state's horseracing and breeding industries have reached a critical juncture, and without legislative assistance in the form of on-track gaming, the damage could be irreparable.
As Kentucky's equine industry awaits word on whether Gov. Steve Beshear will call a special legislative session that could have racetrack gaming on the agenda, representatives of the state's racetracks and horsemen's groups will hold a press conference May 20 to discuss the state of the horse business. Meanwhile, Ohio horseracing interests plan a statehouse rally May 19 to lobby for legislative relief.
Churchill Downs Inc. has announced a series of new rules and policies designed to enhance the safety and welfare of jockeys and horses. The measures will be in place at Churchill Downs racetrack in advance of the this year's Kentucky Derby and will include standardized third-party testing of track surfaces and comprehensive testing of all winning horses for more than 100 prohibited drugs.
Vernon Niven has left Churchill Downs Inc. for personal reasons, the company announced Feb. 12. Niven, who since October 2006 has served as executive vice president of CDI and president of Twinspires.com, will vacate his posts in June after the conclusion of the 2009 Triple Crown.
Churchill Downs Inc. has announced several changes to its organizational structure that will include the recruitment of a new president for its signature racetrack.
Churchill Downs racetrack announced Nov. 21 it will freeze most ticket prices for the 2009 Kentucky Derby (gr. I) and Kentucky Oaks (gr. I), allowing customers to purchase the majority of reserved seats and general admission at the same price levels offered in 2008.
Handle on races in the United States sharply dropped 9.85% in the third quarter of this year, clearly in keeping with a trend that began in early 2008.
Officials of Breeders' Cup and Churchill Downs will make what the racetrack calls a "major economic development announcement" -- probably hosting the Breeders' Cup World Championships in 2010 at the earliest -- during a press conference scheduled for Oct. 8 at the Louisville, Ky., racetrack.
A Churchill Downs Inc. official said May 7 purses at Churchill Downs in Louisville, Ky., could be cut the week of May 11, while Calder Race Course in South Florida could face another reduction in purses.
Churchill Downs Inc. posted net earnings of about $800,000 in the first quarter of 2008, compared with a net loss of $8.4 million for the same period a year ago, the company announced May 6.
Churchill Downs Inc. reported a 7.1% increase in net revenue for the third quarter of 2007, but realized a 62.9% decline in net earnings, as the company's chief executive voiced hope for the future on a variety of fronts during a Nov. 8 conference call.
The financial results of the two biggest racing days for Churchill Downs Inc. show the company's new revenue model for account wagering can be successful, a company official said.
Louisiana operations helped Churchill Downs Inc. narrow its first-quarter loss, the company reported May 8.
Churchill Downs and UPS are teaming up to bring the horsepower of the Kentucky Derby to NASCAR. The two companies unveiled a special Kentucky Derby 133 paint scheme Feb. 23 that will be featured on the #44 UPS Toyota Camry driven by champion Dale Jarrett as he competes in the NASCAR Nextel Cup Series race at Talladega Superspeedway on April 29.
Mike Miller has resigned his executive posts at Churchill Downs Inc. to accept the position of chief financial officer of Poe Companies, a commercial real estate development company located in Louisville, Ky. His final day with Churchill Downs will be Jan. 26.
Churchill Downs Inc., under the leadership of chief executive officer Bob Evans, is forming a team that will address technology-related issues for the racetrack company.
The new chief executive officer of Churchill Downs Inc. believes horse racing has an opportunity to move to another level if the industry embraces a new way of thinking.
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