Churchill Downs Inc

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Deal With Horsemen Near, Fair Grounds Says

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.

Hope for New Thoroughbred Track Seems Dim

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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

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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, Fair Grounds Begin Negotiating Potential Sale

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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

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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

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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

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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

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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.

Churchill Puts Authentication Mark on Merchandise

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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.

Racetrack Cooperative Says Tracks Want to Join

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.

Indiana Racetracks to Split Casino Subsidy Equally

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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 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.

Pollard Sells 180 Acres of Hermitage Farm

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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.

Jersey Horsemen Seek Answers With Tracks on Block

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.

Report: Monmouth, Meadowlands May Be Sold, Leased

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, CDSN Strike Deal on Simulcasts

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.

Newest Track in Indiana Readies for Thoroughbreds

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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.

Horse Racing Has Good Chance...But There Are Catches

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 Indicates Desire to Sell Ellis Park

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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.

Report: Offer Could Be Made For Ellis Park

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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.

Management Shuffle at Churchill as CFO Decker Departs

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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.

Racing Officials Announce New Security Steps

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.

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