Fair Grounds Bolsters Purses Again

Fair Grounds Race Course today announced a purse increase of approximately 10 percent on overnight races beginning with the card of Thursday, Feb. 8.

Beginning Thursday, overnight purses will be increased by $3,500 per race. The increase does not affect stakes races.

It is the second purse increase of the season. Overnight purses were increased $3,000 per race last month.

The purse enhancements were implemented due to continued better-than-expected business levels at Fair Grounds and its eight affiliated off-track betting (“OTB”) facilities in southeast Louisiana, both on video poker and wagering on races imported by Fair Grounds.

The changes will increase average daily purses at Fair Grounds to approximately $405,000, the highest ever awarded for a meet in Louisiana.

Fair Grounds Race Course, the nation’s third-oldest Thoroughbred racing facility, has been in operation since 1872. Located in New Orleans, Fair Grounds is owned by Churchill Downs Incorporated (NASDAQ Global Select Market: CHDN) and also operates off-track betting parlors throughout southeast Louisiana. Fair Grounds’ 135th season, the first live racing in New Orleans since Hurricane Katrina, continues through March 25, 2007, and is headlined by the 94th running of the $600,000 Grade II Louisiana Derby on March 10, 2007. Information about Fair Grounds can be found on the Internet at www.fairgroundsracecourse.com.