Churchill Downs Inc. announced Monday that it has ceased negotiations to acquire the financially troubled Fair Grounds Corp. in New Orleans, La.
A California Field Poll finds that Proposition 68, an initiative that could bring slot machines to 16 racetracks and card rooms in the state, has lost significant ground since an initial polling in May.
An attorney for the Fair Grounds said Louisiana horsemen were on the verge of a settlement Friday night that could spare the New Orleans track from an auction in bankruptcy court later this month over a $90 million video poker judgement.
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.
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.
For the third year in a row, Churchill Downs Inc. hosted the "Out To Pasture "Party, a benefit for the Thoroughbred Retirement Foundation. More than $67,000 was raised for the organization.
The "Kentucky Derby $5 Million Pay Day" went uncollected May 1, but one contestant won a $25,000 consolation prize by selecting the top five finishers in the Derby in exact order.
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.
Elections for nine seats on National Thoroughbred Racing Association board of directors will begin in earnest in late March, but if history holds, the look of the board isn't expected to change that much.
Indiana Downs has once again asked the Indiana Horse Racing Commission to consider a proposal that could ban Kentucky signals from the state's wagering network.
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.
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.
On Tuesday members of the Monmouth Park stakeholders committee were told that the racetrack could gain future revenue from slot machines and that leasing market is extremely favorable--and that was at its first meeting.
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.
The Southern Racing Cooperative, currently in a dispute with the Churchill Downs Simulcast Network over fees charged for signals, said Nov. 17 it has been approached by 10 racetracks that want to join the organization.
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.
Construction crews at Churchill Downs are working double shifts in an effort to complete the steel skeleton of the racetrack's new six-story clubhouse before the start of the fall meet Oct. 26.
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.
Thoroughbred owner/breeder Ed Martin Jr., who helped develop the Indiana-bred program before Hoosier Park opened in the mid-1990s, has resigned as chairman of the Indiana Horse Racing and Breeding Coalition.
The Indiana Horse Racing Commission sided with Indiana Downs Sept. 26 when it voted 4-1 to split riverboat casino admission tax revenue 50/50 with Churchill Downs Inc.-owned Hoosier Park. The move guarantees $5.4 million a year to Indiana Downs indefinitely.
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.
Hermitage Farm owner Carl Pollard announced Friday that he has sold the western-most 180 acres of the farm to Hermitage Properties LLC, a limited liability company headed by Ron Carmicle.
The Kentucky Horsemen's Benevolent and Protective Association has reached an agreement with Ellis Park to keep the stable area at the Henderson, Ky., racetrack open for training year-round.
While representatives of New Jersey Thoroughbred horsemen claim they have been aware of the desire of the New Jersey Sports and Exposition Authority to sell Monmouth Park and Meadowlands for nearly a year, there are many questions they want answered from prospective buyers, and they believe the timing of the announcement was poor.
The New Jersey Sports and Exposition Authority will formally begin the process of selling or leasing Monmouth Park and Meadowlands in June, a move that could put more than $250 million in the financially strapped state agency's coffers, according to published reports.
Indiana Downs, located less than an hour from Hoosier Park, has reached a deal with the Churchill Downs Simulcast Network to import the May 3 Kentucky Derby, as well as signals from other CDSN tracks. Terms of the agreement weren't released.
The Mid-Atlantic Cooperative and the Churchill Downs Simulcast Network continued negotiations April 24 in the wake of a standoff that threatens simulcast of the May 3 Kentucky Derby to wagering outlets in the Mid-Atlantic region.
Indiana Downs has battled winter weather to get ready for its first Thoroughbred meet, but officials believe things will fall into place by opening night April 11 and grand opening day April 12.
The horse racing industry should be pretty healthy 20 years from now -- if it properly embraces technology, expanded wagering opportunities, alternative gaming, and the breeding side of business remains vital, top racetrack officials said March 14.
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.
The owners of Balmoral Park and Maywood Park in Illinois are interested in purchasing Ellis Park, the western Kentucky racetrack owned by Churchill Downs Inc., according to published reports.
Churchill Downs Inc. president Tom Meeker addressed the National Council of Legislators from Gaming States Jan. 11 with calls for regulatory consistency across jurisdictions and support for expanding racetrack gambling.
Robert Decker, executive vice president and chief financial officer of Churchill Downs Inc., and president of the Churchill Downs Simulcast Network, is leaving to pursue other career opportunities, the company announced Dec. 16.
Cliff Goodrich and Steve Sexton will head Arlington Park and Churchill Downs, respectively, Churchill Downs Inc. announced late the afternoon of Dec. 10.
Hollywood Park won't be getting special approval from the California Horse Racing Board to institute a new policy that would cut off wagering on its races at post time in time for its next racing day, which is Nov. 14.
North America's three largest horseracing organizations - Magna Entertainment Corp., Churchill Downs Incorporated and the New York Racing Association Inc. - have instituted new security measures at all totalisator vendors' facilities.
The board of directors of Churchill Downs Inc. has approved a $95-million expenditure to fund the second phase of a major construction project at Churchill Downs in Louisville.
Given an increase in simulcasting handle since the start of the year, Ellis Park has invested about $500,000 in improvements to prepare for it summer meet that begins July 10.
Officials with Hollywood Park and the Thoroughbred Owners of California struck a deal April 23 on revenue splits for wagers made on the track's races. The Hollywood Park spring meet opens April 24.
The Indiana Horse Racing Commission granted 2002 racing dates to Hoosier Park and Indianapolis Downs Tuesday, but not without some changes. Hoosier Park will conduct a 90-day Standardbred meet and 70-day Thoroughbred meet, while Indianapolis Downs will offer 19 days of Standardbred racing next December.
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