Churchill Downs Incorporated to Launch Advance Deposit Wagering Service in April 2007

Churchill Downs Incorporated (NASDAQ: CHDN) today announced that its new advance deposit wagering service (“ADW”) TwinSpires (www.twinspires.com) will launch in time to accept wagers on the 2007 Spring Meet at Churchill Downs racetrack, including wagers on the 133rd renewals of the Grade I Kentucky Derby Presented by Yum! Brands on May 5 and the Kentucky Oaks (GI) on May 4.

The exact launch date for TwinSpires will be announced publicly within the next two weeks, along with all of the relevant information customers will need to sign up for TwinSpires accounts prior to the opening of Churchill Downs’ Spring Meet on April 28, 2007.

“We are testing the TwinSpires site right now and will determine a launch date as soon as the testing phase has been completed,” said Vernon Niven, executive vice president of technology initiatives for Churchill Downs Incorporated and president of TwinSpires. “The entire TwinSpires design team is excited to launch the site in time for spring racing at Churchill Downs and for the 133rd Kentucky Derby and Kentucky Oaks this May. We know racing fans are eager to learn more about our online wagering service and what will set it apart from other ADW platforms. We look forward to sharing that information with them in the very near future, including the specific information they’ll need to apply for TwinSpires accounts. In the interim, we wanted to ensure that our customers knew TwinSpires would be ready to accept their wagers on the ‘Greatest Two Minutes in Sports’ and the highly competitive racing leading up to and following the Kentucky Derby this spring and summer at historic Churchill Downs.”

Through TwinSpires, racing fans will be able to watch and wager on races from Churchill Downs racetrack, as well as races from tracks owned by Magna Entertainment Corp. and other popular racing venues as they join the TwinSpires line up. To receive the latest updates on TwinSpires, including news on the official launch date, customers are encouraged to visit the official TwinSpires Web site, www.twinspires.com, and enter their e-mail address to receive communications from the TwinSpires team.

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.