Churchill Downs is among the growing number of publicly traded companies that have accelerated payment of dividends to get ahead of probable increased tax rates next year.
The Warren County, Ohio, government Nov. 13 approved plans by Churchill Downs Inc. and Delaware North to build a racetrack casino that would replace Lebanon Raceway.
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 Inc. announced Oct. 19 that Senior Vice President of Racing Donnie Richardson will leave the company at the end of the year.
Churchill Downs Incorporated has agreed to acquire Riverwalk Casino and Hotel in Vicksburg, Miss., for total consideration of approximately $141 million, to be paid in cash, the company announced Oct. 5.
The decision to revise the qualifying process for the Kentucky Derby Presented by Yum! Brands (gr. I) was a track decision and was not submitted to the Churchill Downs, Inc. board for approval, president Kevin Flanery said.
Churchill Downs Inc. has filed suit against the entities that have majority ownership of Kentucky Downs, contending the defendants breached their agreement with CDI by converting debt securities into equity.
Customers continue to receive letters from TwinSpires.com informing them of an early August security breach that allowed access to basic personal information.
Calder Casino & Race Course will open its annual Tropical Meet on Sept. 1, and over its 65 race days will have six graded stakes and 15 other stakes with purses of $100,000 or higher.
Churchill Downs Inc. has invested at least an additional $1 million in Kentucky Downs, the track in South Central Kentucky that has reaped millions in revenues from Instant Racing machines introduced last fall.
Due primarily to increased business Kentucky Derby week and continued growth at TwinSpires.com, Churchill Downs Inc. reported an 8% increase in net revenues from continuing operations for the second quarter of 2012.
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.
Penn National Gaming Inc., which owns two racetracks in Ohio, said it will run full live racing schedules at both tracks for the rest of this year and possibly next year depending on resolution of a legal challenge.
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.
Calling it a "tease" with details to follow later, Churchill Downs Inc. chairman and CEO Robert Evans said March 13 the company plans to construct "The Mansion" at its flagship track in Louisville.
Delaware North Companies Gaming & Entertainment and Churchill Downs Inc. announced March 1 their joint venture to purchase Lebanon Raceway in Lebanon, Ohio, and develop a new video lottery terminal facility.
Churchill Downs Inc. has acquired the assets of Bluff Media, an Atlanta-based multimedia poker content, brand and publishing company, it was announced Feb. 10. Terms of the sale were not disclosed.
A dispute between the Jockeys' Guild and Churchill Downs Inc. has been resolved with the racetrack operating company agreeing to a contract with the jockeys' organization.
The California Horse Racing Board agreed Dec. 15 to extend the license of account wagering firm TwinSpires.com after receiving assurance that parent company Churchill Downs Inc. would meet with the Jockeys' Guild.
The general counsel for Churchill Downs Inc. has issued a lengthy defense of the racetrack operating company's decision to not renew a contract with the Jockeys' Guild.
Churchill Downs, Inc. announced Dec. 5 that its board of directors has approved an annual dividend of 60 cents per share, up 20% over the 50 cent per share dividend that had been awarded in recent years.
The decision by Churchill Downs Inc. to drop a longstanding insurance agreement with the Jockeys' Guild could have ramifications in California for the company's advance deposit wagering firm TwinSpires.com.
Efforts by the Jockeys' Guild to persuade Churchill Downs Inc. to renew its contract entered another realm Nov. 14 when a petition signed by 240 jockeys was submitted to the CDI board of directors.
The Jockeys' Guild wants Churchill Downs Inc. to come to the table to discuss reinstatement of roughly $330,000 the racing and gaming company has paid annually to support insurance for jockeys.
Churchill Downs Inc. reported net earnings from continuing operations of $19.7 million for the third quarter of 2011, up significantly from $3.7 million for the third quarter of 2010.
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.
Churchill Downs Inc., boosted by its online and gaming business segments, reported double-digit increases in the second quarter this year compared to 2010 numbers.
Churchill Downs Inc. and The Stronach Group have renewed their partnership in HRTV, the horse racing and equestrian-related network, through 2014.
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.
Churchill Downs Inc. expects continued growth in its online wagering business, and with a little help from the Illinois governor, expansion of its gaming operations.
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.
The night-time opening card of the spring meet and the success of Kentucky Derby week at Churchill Downs will likely result in a contribution of between $5-6 million in pre-tax earnings to the company's bottom line for 2011.
Churchill Downs Inc. reinforced its safety initiatives April 11 and said it plans to seek re-accreditation for its four racetracks through the National Thoroughbred Racing Association Safety and Integrity Alliance.
The account wagering operation owned by Churchill Downs Inc. avoided losing its license to operate in California by reaching agreement with tracks in the state before a deadline expired March 18.
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.
Churchill Downs Inc. March 10 named Alan K. Tse executive vice president and general counsel for the Company. Tse will oversee all legal, corporate governance, and compliance matters for CDI.
- By Tom LaMarra
Churchill Downs Inc. and Daily Racing Form are at odds over the publishing company's launch of an advance deposit wagering system powered by XpressBet.com, which is owned by CDI rival MI Developments.
Churchill Downs Incorporated Foundation March 1 announced its first fundraising initiative, an online/e-mail auction of five Kentucky Derby and Oaks ticket packages.
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.
Julie Koenig Loignon is returning as vice president of corporate communications for Churchill Downs Inc.
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 Inc. will terminate about 60 employees because of what it calls "redundancies" in its online betting operations.
Churchill Downs Inc. president and chief executive officer Robert Evans will give the keynote address at the 2010 University of Arizona Symposium on Racing & Gaming.
- By Tom LaMarra
MI Developments, among the largest dues-paying members of the National Thoroughbred Racing Association, committed to the organization for the first half of 2010 and will discuss its future involvement.
The countdown to July 1 and long-awaited new Florida rules on slot machines and poker has ended for Calder Casino & Race Course and for Gulfstream Park.
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.
- By Tom LaMarra
The National Thoroughbred Racing Association is moving on in the wake of the defection of Churchill Downs Inc. for at least this year.
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