Fair Grounds Bolsters Purses for Third Time

Fair Grounds Race Course today announced a purse increase of approximately 25 percent on overnight races for the final two weeks of its 135th racing season.

Beginning Thursday, overnight purses will be increased by $12,000 per race. The increase does not affect stakes races.

It is the third purse increase of the season. Overnight purses were increased $3,000 per race in mid-January and $3,500 per race in early February.

The purse enhancements were implemented due to several factors, including continued better-than-expected business levels at Fair Grounds and its eight affiliated off-track betting (“OTB”) facilities in southeast Louisiana, and record on-track and all-sources handle on Louisiana Derby Day.

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. Information about Fair Grounds can be found on the Internet at www.fairgroundsracecourse.com.