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Bankruptcy Court Approves Churchill Downs Purchase of Fair Grounds

  • News

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.

Top U.S. Racing Companies to Study Jockey Scale of Weights

  • News

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.

Skehan Named Churchill Downs Inc.'s COO

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.

Hope for New Thoroughbred Track Seems Dim

  • News

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.

CDI Receives Award for Responsible Wagering Program

  • News

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.

CDI Official Says Racing Industry Not Growing

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 Plan Calls for Track to be Auctioned

  • News

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.

CDI, Fair Grounds Begin Negotiating Potential Sale

  • News

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 Gets Extension for Reorganization Plan

  • News

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.

Churchill Downs Inc. Appears Poised to Purchase Fair Grounds

  • News

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 Offers $28.5 Million for Fair Grounds

  • News

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.

Report: Churchill Considering New Track in California

  • News

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.

CDI Outlines Aggressive Plan for '04

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.

Former CDI Financial Chief Decker Now Consultant

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.

Report: Churchill Downs Inc. Interested in Fair Grounds

  • News

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.

CDSN, Southern Racing Approve Agreement

  • News

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 Puts Authentication Mark on Merchandise

  • News

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.

Hoosier Has Horses, But Purses Down Substantially

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.

Meeker: Wagering Products Must Match Customer Demand

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.

Sexton Named Executive VP Of Arlington

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.

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