TrackNet Media Reaches Agreement with NJSEA

TrackNet Media Group, LLC (“TrackNet”) today announced that it has reached an agreement with the New Jersey Sports and Exposition Authority (“NJSEA”). Pursuant to the agreement, TrackNet affiliates TwinSpires.com and XpressBet® will be permitted to offer account wagering on the racing content of NJSEA racetracks Monmouth Park and Meadowlands. In addition, TwinSpires.com and XpressBet will be able to offer live video streaming of races from Monmouth Park and Meadowlands. The agreement runs through the end of 2008.

“We are very pleased by NJSEA’s decision to make its popular horse racing content available to TrackNet’s affiliated account-wagering companies,” said Scott Daruty, TrackNet’s chief executive officer. “Both TwinSpires.com and XpressBet are excited about adding races from Monmouth Park and Meadowlands to their account-wagering and video-streaming lineups. TrackNet believes a non-exclusive account-wagering environment will stimulate greater innovation and customer service among account-wagering providers to the benefit of racetracks, horsemen and our wagering customers. NJSEA’s decision to make its content available to TwinSpires.com and XpressBet is an important step in that direction.”

TrackNet Media Group, LLC is a venture of North America’s premier horse racing and entertainment companies, Churchill Downs Incorporated (NASDAQ: CHDN) and Magna Entertainment Corp. (NASDAQ: MECA; TSX: MEC.A). TrackNet sells horse racing content from its stable of racetracks to a variety of domestic and international wagering outlets, including racetracks, casinos, off-track wagering facilities, and advance-deposit wagering companies. TrackNet also purchases horse racing content from third party racetracks for distribution to its member racetracks and its affiliated advance-deposit wagering platforms, including XpressBet and TwinSpires. TrackNet employs the highest standards of wagering security and integrity when licensing horse racing content to third parties to reduce the chances of signal piracy and ensure content producers receive the compensation they are due. TrackNet is headquartered in Louisville, Ky., and also has offices in Arcadia, Calif.