Churchill Downs Incorporated Issues Update on Anticipated Launch of Twinspires Account-Wagering Serice

Churchill Downs Incorporated (NASDAQ: CHDN) today released an update on the anticipated launch of its new account-wagering service, TwinSpires (www.twinspires.com). Vernon Niven, executive vice president and president of TwinSpires, confirmed the site would not open for business prior to the opening of the 2007 Spring Meet at Churchill Downs racetrack on Saturday, April 28.

“As our team was preparing for an April 28 launch of TwinSpires and was completing our final pre-launch tests, an issue arose with one of the vendors that supports the site,” said Niven. “This is a minor issue that in no way impacts the integrity of wagering with TwinSpires, nor the ability to place wagers through TwinSpires online and telephone processes. The issue we discovered relates to the scalability and performance of our online registration process. Because we want our customers to be able to register and deposit funds into their accounts with ease, we have elected to delay the official launch date to give our vendor enough time to resolve the issue to our satisfaction. We hope to have this issue resolved within a few days in order to launch TwinSpires prior to the upcoming Kentucky Derby and Oaks at Churchill Downs. We regret the delay, and we will announce our launch date as soon as the online registration process meets our performance requirements.”

TwinSpires (www.twinspires.com) is the official advance deposit wagering service for Churchill Downs Incorporated (NASDAQ: CHDN) and its family of racetracks, as well for the Kentucky Derby and Kentucky Oaks. TwinSpires is a wholly owned subsidiary of Churchill Downs Incorporated and offers wagering on races from Churchill Downs, Santa Anita, Gulfstream Park, Fair Grounds Race Course, Pimlico Race Course, Lone Star Park, Golden Gate Fields, Laurel Park and other popular racing venues. TwinSpires is headquartered in Mountain View, Calif., and operates a wagering hub in Oregon.

Churchill Downs Incorporated (“Churchill Downs”), headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. Churchill Downs’ four racetracks in Florida, Illinois, Kentucky and Louisiana host many of North America’s most prestigious races, including the Kentucky Derby and Kentucky Oaks, Arlington Million, Princess Rooney Handicap and Louisiana Derby. Churchill Downs racetracks have hosted seven Breeders’ Cup World Championships. Churchill Downs also owns off-track betting facilities and has interests in various advance deposit wagering, television production, telecommunications and racing services companies, including a 50-percent interest in the national cable and satellite network HorseRacing TV™, that support the Company’s network of simulcasting and racing operations. Churchill Downs trades on the NASDAQ Global Select Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.