Sale of Interest in Hoosier Park Rejected

The Indiana Horse Racing Commission denied a plan by Churchill Downs Management Co. to sell an additional 26% interest in Hoosier Park to Centaur Inc., which already owns 13% of the Anderson, Ind., racetrack.

Within 60 days, the commission will issue a final order denying the request. The commission said Centaur failed to report other partners' interest in the 26% share of Hoosier Park.

John Long, president of CDMC, said the decision "temporarily inhibits our goal to increase Indiana ownership in Hoosier Park, which we believe will be healthy for horse racing in the state of Indiana."

Hoosier Park operates three off-track betting facilities in Indiana, and has the right to open a fourth. CDMC is the majority owner with 77%. The other 10% is owned by Conseco, like Centaur an Indiana company.

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