Churchill Downs Inc. will not hold its HullabaLOU Music Festival in 2011 and has accepted the resignation of CDI executive vice president Steve Sexton.
Churchill Downs racetrack's move into the concert business proved to be an "expensive education," and despite an estimated $5 million loss on the HullabaLOU music festival there are plans to bring it back next year.
Boosted by growth in its gaming and online segments and this year's Kentucky Derby and Kentucky Oaks, Churchill Downs Inc. reported that net revenues rose 11% during the second quarter of 2010.
Churchill Downs Entertainment Group announced Nov. 30 that Churchill Downs racetrack in Louisville will host a three-day summer 2010 music festival that will showcase more than 65 bands, including Bon Jovi, Kenny Chesney, and the Dave Matthews Band.
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