Centaur Inc., owner of Hoosier Park in Indiana, closed Oct. 30 on a $1-billion financing package, almost half of which will be used to develop a slot-machine casino at Hoosier.
Two Indiana racetracks are buying land for the purpose of expanding their operations given the advent of slot machines.
Indiana lawmakers advanced a bill to the desk of Gov. Mitch Daniels late April 29 that would permit slot machines at Hoosier Park and Indiana Downs, but each track must pay $250 million up front for a slots license.
Churchill Downs reported net revenues of $376.67 million for 2006, a 5.71% increase over 2005, according to financial data released March 12.
Churchill Downs announced Dec. 13 that it has reached an agreement to sell its majority interest in Hoosier Downs to former minority partner Centaur Inc.
A plan by Churchill Downs Management Co. to sell an additional 26% interest in Hoosier Park to an Indiana company has been turned down by the Indiana Horse Racing Commission.
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