Churchill Downs and Kentucky horsemen have reached a three-year agreement that sets purse payments, establishes purse supplements and ends a legal dispute that began in the spring of 2008.
Based on a review of its experimental three night racing cards during the spring meet, Churchill Downs Inc. announced Sept. 28 it will install permanent lights at its flagship racetrack in Louisville.
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.
While Churchill Downs Incorporated will continue to focus on racing as its primary business, its ability to expand into more profitable ventures such as alternative gaming and concerts will be key to future growth.
The meet at Fair Grounds Race Course & Slots got a little bit longer calendar-wise in 2008-09, and it will get even longer in 2009-10.
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 Inc. is reviewing its membership in the National Thoroughbred Racing Association, racing industry officials said Dec. 9.
Churchill Downs, for the second time, has cut purses for its fall meet. Among the casualties is the grade II Clark Handicap scheduled for Nov. 28.
Churchill Downs Inc., has implemented a new horseshoe policy at its four racetracks that bans the use of toe grabs greater than two millimeters. The new policy is effective immediately.
Churchill Downs Inc. and the Florida Thoroughbred Breeders and Owners Association announced Sept. 10 that they have reached an agreement on a contract for future slot machine revenue at CDI-owned Calder Race Course.
- By Jim Freer
Churchill Downs Inc. and the Florida Thoroughbred Breeders and Owners Association announced on Sept. 10 that they have reached an agreement on a contract for future slot machine revenue at CDI-owned Calder Race Course.
Blaming a decline in purse money earned earned from wagering sources during its 2008 spring meet, Churchill Downs Racetrack has slashed its stakes program for the upcoming fall meet by $975,000 through purse reductions in 11 stakes races and the elimination of two others.
Magna Entertainment Corp., in a statement issued the evening of Aug. 28, acknowledged it is having discussions with the Thoroughbred Horsemen's Group on what company chairman Frank Stronach called "a new framework" for pari-mutuel economics.
Churchill Downs Inc. announced Aug. 14 that Randall Soth, who since September 2004 has served as president of Fair Grounds Race Course & Slots in New Orleans, is leaving CDI to pursue other career interests.
Churchill Downs Inc. has appointed Ted Nicholson to oversee operations at Calder Race Course on an interim basis, one day after CDI implemented a company-wide personnel overhaul.
The Florida Horsemen's Benevolent and Protective Association issued a statement July 8 thanking Calder horsemen who "took the full brunt" of purse cuts during a 2 1/2-month dispute with track owner Churchill Downs Inc.
Calder Race Course posted entries July 7 for its July 12 Summit of Speed, a card with a quartet of six-furlong graded stakes that has become the highlight of the year at the South Florida track.
Churchill Downs Inc. announced July 7 that it has signed contracts with the Florida Horsemen's Benevolent and Protective Association on 2008 purses and on potential future slot machine revenue at CDI-owned Calder Race Course.
With two weeks left before Calder Race Course's July 12 Summit of Speed, Churchill Downs Inc. and the Florida Horsemen's Benevolent and Protective Association remain deadlocked in contract talks for the Miami Gardens, Fla., track.
Seth W. Hancock has resigned from the Churchill Downs Inc. board of directors, the company announced June 24.
A leading executive of Churchill Downs Inc. told a gathering of shareholders June 19 that he didn't know when a nasty revenue-sharing dispute with horsemen would be resolved, but promised the company would do its part in reaching a satisfactory conclusion for all.
The Florida Horsemen's Benevolent and Protective Association's general counsel said June 10 his organization could sign agreements "in the very near future" on 2008 purses and future slot-machine revenue at Calder Race Course.
Churchill Downs will begin testing a new wagering format with on-track customers June 11 that allows patrons to bundle win, exacta, and trifecta plays at a lower price per bet.
The Florida Horsemen's Benevolent and Protective Association and Churchill Downs Inc. are planning to meet June 9 to discuss contracts for CDI-owned Calder Race Course, where the financial impacts of a dispute are worsening each week.
Eight Belles, who finished second in the Kentucky Derby Presented by Yum! Brands (gr. I) but suffered a catastrophic injury moments after the race, will be honored by Churchill Downs Inc. through a series of charitable contributions and initiatives, including the interment of her remains at the Kentucky Derby Museum.
In a flurry of responses filed recently in federal court, Kentucky horsemen claim Churchill Downs Inc. owes purse funds upwards to $3 million in unpaid fees from wagering revenues, and have asked a judge to force the racetrack company to pay out funds lost from a 20% purse cut.
Churchill Downs Inc. said May 15 it reached an agreement with Maryland horsemen that will permit Calder Race Course to take Pimlico Race Course's signal May 16-17, including the Preakness Stakes (gr. I).
Calder Race Course on May 9 announced it will cut purses for eight upcoming stakes, including six on its July 12 Summit of Speed card.
Calder Race Course announced May 9 that it will cut purses for eight upcoming stakes races, including the July 12 Summit of Speed card, blaming a continuing dispute with the Florida horsemen's association.
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. has invested $100 million in advance deposit wagering for a reason: The company believes it's the major growth channel for pari-mutuel wagering, as well as a means to drive traffic to the racetrack, CDI president and chief executive officer Bob Evans said.
Florida horsemen and officials at Calder Race Course and parent company Churchill Downs Inc. met April 14 but did not agree on contracts for the Calder meet that begins April 21.
International has been named the official truck of Churchill Downs and the Kentucky Derby, officials said April 8. Churchill Downs Inc. and Navistar International Corp. have agreed to a two-year deal.
C. Kenneth Dunn, who since April 1999 has served as senior vice president of Florida operations for Churchill Downs Inc. and has spent 18 years at Calder Race Course, is stepping down, the company announced April 9. Dunn will continue to serve as an adviser for Calder through Aug. 1.
Churchill Downs Inc. has asked a federal bankruptcy court to ensure funds its member tracks contribute to the Jockeys' Guild be used for their intended purposes and not for other needs the financially-troubled organization may choose.
As California continues to wrestle with improving advance deposit wagering, the state welcomed a new provider. TwinSpires.com was awarded an ADW license Oct. 18, making it the fourth company to offer home computer betting on horse racing in the state.
- By Tom Precious
A consortium of major horse industry companies vying for the Thoroughbred franchise in New York began falling apart Oct. 10, as Magna Entertainment Corp., Churchill Downs Inc., and Delaware North announced their withdrawal from Empire Racing Associates.
Churchill Downs Inc. has appointed William "Bill" Mudd to serve as executive vice president and chief financial officer, the Louisville-based racing company announced Oct. 4. Mudd succeeds Mike Miller, who left his role as executive vice president and CFO in January to pursue other business interests.
Fair Grounds in New Orleans, La., will open a temporary slot-machine facility Sept. 21, track president Randall Soth announced Sept. 7.
The Indiana Horse Racing Commission's ban on the import of signals from Arlington Park and Calder Race Course turned out to be short-lived.
The Indiana Horse Racing Commission voted unanimously Aug. 21 to ban the import of signals from Arlington Park and Calder Race Course at all wagering outlets in the state.
It appears the simulcast signals from Arlington Park and Calder Race Course could be pulled from other Indiana wagering outlets, this time at the urging of the Indiana Horse Racing Commission.
Indiana Downs is weighing its options in the wake of a decision by Churchill Downs Inc. to pull its racing signals from an Indiana Downs-owned off-track wagering parlor.
Churchill Downs Inc. reported net earnings of $29.3 million in the second quarter, a decrease of 12% compared with net earnings of $33.4 million over the same period last year. Those figures break down to $2.11 per share and $2.46 per share, respectively.
Churchill Downs reported an increase in net revenues and a decrease in net earnings from continuing operations at the close of the second quarter June 30.
Fair Grounds Race Course, in conjunction with the New Orleans Council on Aging, Lowe's and the City of New Orleans, announced the launch of a program to assist local senior citizens in rebuilding their homes July 18.
Churchill Downs Inc. has acquired certain assets of AmericaTAB, Bloodstock Research Information Services, and the Thoroughbred Sports Network, but officials with the Louisville, Ky.-based company said it will be business as usual at the outset.
Kentucky racetracks and horsemen's groups will have to hammer out a new agreement on source-market fees now that Churchill Downs Inc. no longer has an exclusive agreement with account wagering provider TVG.
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.
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