The U.S. Bankruptcy Court, Eastern District of Louisiana, has approved Churchill Downs Incorporated's $47-million purchase of Fair Grounds, according to a release from Churchill Downs. CDI, the Fair Grounds Corporation, and Louisiana Horseman's Benevolent and Protective Association are expected to close the transaction on or before Oct. 15.
Ellis Park is expected to return to a five-day live racing week next year on the heels of a 2004 meet that produced an increase in total handle but double-digit decreases in average daily handle and on-track business.
Hoosier Park kicked off its 10th Thoroughbred meet over the Labor Day weekend with strong overall attendance but soft handle figures.
Hoosier Park will celebrate 10 years of racing when it opens the evening of Sept. 2 for live Thoroughbred racing.
Churchill Downs has let go two marketing executives, according to a report in the Louisville Courier-Journal.
Churchill Downs Inc. announced Monday that it has ceased negotiations to acquire the financially troubled Fair Grounds Corp. in New Orleans, La.
The nation's top three horse racing companies have teamed to study the current jockey scale of weights and make recommendations on potential national reforms to the Jockeys' Guild, horsemen's groups, racing associations and racing regulators.
Andrew Skehan, who previously served as Churchill Downs Inc.'s chief marketing officer, has been named the company's chief operating officer. He will assume his new position immediately and report directly to CDI's president and chief executive officer Thomas Meeker.
Through an agreement with the Kentucky Horsemen's Benevolent and Protective Association, Ellis Park has reinstated three stakes in had canceled in late July, though the purses for two have been reduced.
Hope that passage of slot machine legislation in Pennsylvania would result in a new Thoroughbred racetrack near Pittsburgh seems futile. Negotiators with knowledge of the bill signed into law July 5 by Gov. Ed Rendell said a stand-alone slots parlor in downtown Pittsburgh is much more likely.
A United States bankruptcy judge issued a ruling July 8 that could facilitate auction of Fair Grounds on Aug. 16.
Shares of Churchill Downs Inc. neared its 52-week high during early trading Tuesday morning, the second business day following CDI's acknowledgement of its interest in purchasing Fair Grounds.
A bankruptcy auction for Fair Grounds has been tentatively set for Aug. 16, pending approval of an amended bankruptcy plan that was scheduled to be filed by the New Orleans, La., racetrack June 23.
Arlington Park plans to build two new dormitories for backstretch workers at the track, president Cliff Goodrich announced Friday.
Churchill Downs Inc. has received the 2004 Industry Award from the National Council on Problem Gamlbing. The award was presented June 18 at the Conference on the Prevention, Research, and Treattment of Problem Gambling in Phoenix, Ariz.
Churchill Downs Inc. president Tom Meeker said June 17 the company is in an excellent position for future growth and, though CDI intends to do its part, industry factions must work together to support and build the necessary infrastructure.
An official for Churchill Downs Inc. told some 200 financial analysts and fund managers gathered for the inaugural INVESTKentucky conference in Louisville Thursday the racing industry as a whole is in a period of flat growth.
Fair Grounds, after failing to reach an agreement with Churchill Downs Inc. on a sale of the track, filed in bankruptcy court Monday evening a Chapter 11 reorganization plan that would allow for an auction of the track through the court.
Negotiations over the potential sale of Fair Grounds to Churchill Downs Inc. commenced Thursday afternoon but several issues remain unresolved, including whether current Fair Grounds president Bryan Krantz would maintain a position at the track.
Fair Grounds has been granted an extension to Monday to file a Chapter 11 reorganization plan. The extension of Thursday's deadline was granted in order for Fair Grounds officials to have more time to negotiate a possible purchase of the track by Churchill Downs Inc.
An agreement has been reached between Churchill Downs Inc. and the Louisiana Horsemen's Benevolent and Protective Association to purchase the horsemen's legal claims against Fair Grounds, and a letter of intent was filed with track officials to purchase Fair Grounds.
Churchill Downs Inc. has apparently upped its interest in Fair Grounds. According to a local report, CDI offered $28.5 million to buy the New Orleans racetrack, though about $20 million of that would go to horsemen to settle a revenue dispute.
A Louisville legislator is prepared to file a bill to authorize a constitutional amendment on casino gambling in Kentucky under a scenario in which gaming wouldn't be limited to racetracks.
Churchill Downs Inc., which owns Hollywood Park in Inglewood Calif., is considering building a new racetrack in the Golden State at an abandoned Marine Corps air base about 45 miles south of Hollywood in Irvine.
An ambitious strategic plan Churchill Downs Inc. hopes to accomplish in 2004, which president Tom Meeker said will "change the culture of our company," includes a major customer service initiative, increased branding of the company's assets, and possibly even a company-owned account-wagering platform.
A total of $10,000 in prize money, including a first place prize of $6,000, will be up for grabs in Trackside Louisville OTB's Handicapping Challenge on Sunday.
Robert Decker, previously executive vice president and chief financial officer for Churchill Downs Inc., has opened a Louisville, Ky., consulting practice that will provide advisory services to racetrack companies and racing support companies, as well as Kentucky-based firms in other industries.
Churchill Downs has launched the official 2004 Kentucky Derby Web site, www.kentuckyderby.com.
Churchill Downs Inc. has been in negotiations with Louisiana horsemen to acquire $90 million in legal claims against Fair Grounds, which shows CDI could be interested in purchasing Fair Grounds, the New Orleans Times-Picayune reported Wednesday.
Representatives of the Churchill Downs Simulcast Network and the Southern Racing Cooperative approved a new agreement Oct. 19 to allow the export of CDSN racing signals to SRC member racetracks. Terms were not disclosed.
Churchill Downs Inc. has teamed with Applied Optical Technologies to create a holographic authentication mark applicable to all officially licensed Churchill Downs and Kentucky Derby merchandise.
Fewer racing dates and an unfavorable racing commission ruling led net revenue for Churchill Downs Inc. to drop by 6% during the third quarter of the year.
Hoosier Park will kick off its ninth season of Thoroughbred racing Aug. 29 with a streamlined program: Because of the presence of second racetrack in Indiana, purses are down a substantial $80,000 to $90,000 a day from 2002.
Churchill Downs Inc. will look to develop products that suit its patrons under a new customer relationship management program expected to have "dramatic" results, CDI president Tom Meeker said June 19 during the company's annual shareholder meeting in Louisville, Ky.
Carl Pollard, the owner of Hermitage Farm and Churchill Downs board member since 1985, will replace William S. Farish as chairman of the Louisville, Ky., racing conglomerate. Also on Tuesday, Churchill reported record second quarter results.
Steve Sexton is the new executive vice president of Arlington Park. The announcement was made Monday by John Long, executive vice president and chief operating officer of Churchill Downs Incorporated ("CDI") (Nasdaq: CHDN). Sexton will report directly to Scott Mordell, Arlington's president and chief executive officer.
Churchill Downs Inc. and Duchossois Industries Inc., which owns Arlington International Racecourse, announced Friday an agreement in which the two entities will be merged.
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