One day after being named chief executive officer and president of Churchill Downs Inc., Robert Evans told a group of assembled media he is ready to lead the Louisville, Ky.-based racetrack company into the future.
As the search for his successor continues, Churchill Downs Inc. president and chief executive officer Tom Meeker presided over his 22nd and final shareholders' meeting Thursday, painting a positive picture of the racetrack operating company's future while also accepting plaudits from fellow directors and company employees.
- By Ray Paulick
By Ray Paulick -- For the second consecutive year, no contemporary horses were elected to the National Museum of Racing's Hall of Fame. That is astonishing, considering some of the champions named on the ballot.
Industry associations have joined the thousands of racing fans rallying around Barbaro, who was pulled up in the May 20 Preakness Stakes (gr. I) and underwent surgery on his right hind leg the following day.
Churchill Downs Inc. has restructured some of the company's corporate staff, resulting in the elimination of several positions and consolidation of the corporate and racetrack communications and marketing departments.
Churchill Downs Inc. officials are encouraged by a rebound of their Louisiana operations in the wake of Hurricane Katrina, but it appears slot machines at Fair Grounds won't be operating until mid-2008 at the earliest.
For Churchill Downs Inc. president and chief executive officer Tom Meeker, being what he calls a "caretaker of the Derby" is one of his jobs. But that doesn't mean there can't be change for the world's most recognized horse race, or other aspects of the industry for that matter, he said.
New York City came to Louisville, Ky.--and vice versa--the morning of May 2 when the opening bell of the NASDAQ stock exchange rang from a fourth-floor porch at Churchill Downs to celebrate Derby week.
The next chief executive officer of Churchill Downs Inc. must have an understanding of technology and the "globalization" of the pari-mutuel industry, current CEO and president Tom Meeker said.
Expansion of account wagering and improvements to existing platforms are a chief objective of Churchill Downs Inc., whose chief executive officer, Tom Meeker, indicated change is needed to generate more industry revenue and maintain or expand the customer base.
Despite a very trying year in which its company-owned tracks were negatively impacted by two hurricanes, one tornado, and two disease outbreaks, Churchill Downs Inc. on Tuesday reported positive financial results for 2005.
homas H. Meeker, president and chief executive officer of Churchill Downs Inc., has been named "Business Leader of the Year" for a large business by the Louisville, Ky.-based Business First publication in its inaugural "Business of the Year" Awards.
Churchill Downs Inc. president and chief executive officer Tom Meeker said that in the weeks since Hurricane Katrina devastated CDI-owned Fair Grounds in New Orleans, the company has been working with federal, state, and local governments on a reinvestment plan that could include revamping the historic racetrack into a tourist destination.
Churchill Downs Inc. reported net earnings of $71.6 million for the third quarter of 2005, up from a loss of $3.8 million for the same period last year, thanks to the sale of Hollywood Park in Southern California.
As a result of damage to Fair Grounds Race Course from Hurricane Katrina, there will be no live racing there this year and plans are being made for a "unique" meet at Louisiana Downs in its place, according to Churchill Downs president and CEO Tom Meeker.
Churchill Downs Incorporated announced Friday the company is exploring options to conduct a portion of Fair Grounds Race Course's 2005-2006 live race meet at Louisiana Downs in Bossier City, La.
Churchill Downs Inc. announced Wednesday it has activated a toll-free information hotline for its Louisiana employees displaced by Hurricane Katrina. The number, which will be staffed 24 hours a day, seven days a week, is (877) 244-5536.
Although competition from casinos and the desire to obtain alternative gaming at racetracks generate the most buzz about problems facing North American horse racing, Churchill Downs president and CEO Tom Meeker says there are other issues facing the industry that must be resolved.
Churchill Downs Inc. reported Tuesday that net earnings for the second quarter were $24.2 million or $1.80 per share diluted, compared to $27.7 million or $2.06 per share diluted for the same period in 2004.
Saying that California "has forsaken racing and its needs," the president of Churchill Downs Inc. announced July 6 that the company has sold historic Hollywood Park to Bay Meadows Land Company for $260 million.
Churchill Downs the company hopes to reap the rewards of what president Tom Meeker calls a "culture change," and it also plans to utilize its resources to deal with three lingering industry problems: the tote system, offshore wagering, and short fields.
Former General Electric executive William Carstanjen has been hired as the new general counsel and chief development officer for Churchill Downs Inc.
Reconstruction of the pari-mutuel industry's tote infrastructure is ready to begin, but the project may not be completed for two to three years, Churchill Downs Inc. president Tom Meeker said.
Officials of Churchill Downs, the Maryland Jockey Club, and the NBC Network Wednesday discussed the new contract under which the Kentucky Derby (gr. I) and Preakness Stakes (gr. I) will be televised.
Continuing a relationship that began in 2001, NBC Sports has reached an agreement with Churchill Downs Inc. and Magna Entertainment/Maryland Jockey Club to telecast the Kentucky Derby and Preakness Stakes an additional five years, from 2006 to 2010.
In what was described as a change in its marketing strategy for Thoroughbred racing, Visa USA announced Monday it would not renew its 10-year sponsorship of the Visa Triple Crown series, but would focus on a "new partnership with the sport's most venerable race, the grade I Kentucky Derby."
Churchill Downs Inc. president and CEO Tom Meeker will ring the NASDAQ stock market opening bell Friday to celebrate the 131st running of the Kentucky Derby (gr. I) May 7.
Churchill Downs Inc. officials discussed the company's financial picture, alternative gaming initiatives, and the industry's tote system during a March 17 teleconference but shed little light on their intentions for Hollywood Park, the Southern California racetrack that is the subject of sale rumors.
Earnings for Churchill Downs Inc. in 2004 and for the fourth quarter were negatively impacted by several one-time expenses, including supporting alternative gaming initiatives, a "non-cash impairment charge" at Ellis Park, and an unrealized loss related to a note, the company reported Wednesday.
Following the defeat Tuesday of a referendum that would have permitted slot-machine gaming at Churchill Downs Inc.-owned Calder Race Course in Florida's Miami-Dade County, company president and chief executive officer Tom Meeker said CDI is encouraged by slots approval in a neighboring county and would continue to seek alternative gaming.
North America's two biggest racetrack companies have joined forces to offer their products as a package to several European countries.
Tom Meeker, president and chief executive officer of Churchill Downs Inc., told racetrack and gaming officials Tuesday that racing has become a remedy for state deficits rather than a means for economic development.
Churchill Downs Incorporated completed its $47 million acquisition of Fair Grounds Race Course in New Orleans and its five off-track betting facilities on Oct. 15. CDI also announced it closed the acquisitions of two related New Orleans-area operations, Finish Line Management Corp. and Video Services.
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.
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.
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.
- By Dan Liebman
By Dan Liebman -- Fletcher was very polished in congratulating Smarty Jones' owners, trainer, and jockey. But his ears had to be ringing from Churchill CEO Tom Meeker's comment that, "The sun wasn't shining too bright in Kentucky today but I have a slight feeling it was shining in Pennsylvania."
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 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.
Churchill Downs Inc. reported Tuesday that net revenues for 2003 of $424.2 million represented a 3.3% decline from $438.8 million in 2002. Net earnings totaled $1.80 per fully diluted share.
Churchill Downs marked a milestone in the second phase of its sweeping $121 million renovation on Wednesday when a special beam was lifted into place at the highest point of the track's rebuilt Clubhouse to highlight a "Topping Off" ceremony in the track's paddock.
Churchill Downs will honor retiring longtime Daily Racing Form executive columnist Joe Hirsch by naming its new media facility in his honor.
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.
John R. Long, executive vice president and chief operating officer for Churchill Downs Inc., has accepted the newly-created position of chief executive officer for the United States Equestrian Federation.
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.
Churchill Downs, as part of its massive $121-million renovation project, is pondering the concept of personal seat licenses for at least part of its clubhouse box area.
Churchill Downs Incorporated reported a loss for the first quarter ended March 31, 2003, that was better than previously projected provided by the company.
The New York City Off-Track Betting Corporation and Churchill Downs are teaming up to giveaway 2,500 "mystery vouchers" on April 25. The vouchers will be distributed in front of NASDAQ headquarters at 43rd St. and Broadway before the opening of the market. Raymond Casey, president and CEO of NYCOTB and Tom Meeker, president and CEO of Churchill Downs, will assist in the giveaway.
Churchill Downs Inc. reported a gain in earnings for 2002 but indicated it's looking to sell Ellis Park, the western Kentucky racetrack it purchased in 1998 as part of a $22 million package. The company's financial statement for 2002 was released Feb. 11.
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