TrackNet Media Reaches Wagering and Television Agreement with NYRA

The New York Racing Association (“NYRA”) today announced that it has entered into a content exchange agreement with TrackNet Media Group, LLC (“TrackNet”). The agreement will permit TrackNet-affiliated racetracks, simulcast-wagering facilities and account-wagering providers to accept wagers on a non-exclusive basis on races from Aqueduct Racetrack, Belmont Park and Saratoga Race Course. Likewise, NYRA’s racetracks and account wagering system will be permitted to accept wagers on a non-exclusive basis on races conducted at all TrackNet-affiliated racetracks.

The agreement announced today also grants to HorseRacing TV (“HRTV”) non-exclusive rights to televise races conducted at NYRA’s three racetracks. In addition, TrackNet’s affiliated account-wagering businesses, including TwinSpires.com and XpressBet©®, will be able to offer live video streaming of races from NYRA tracks.

“NYRA is committed to securing the broadest possible distribution for its renown racing product. Partnering with TrackNet and its affiliated account-wagering and television companies is a tremendous step forward in reaching that goal,” said Charles Hayward, NYRA President & Chief Executive Officer. “Our patrons will be glad to know that tracks under the TrackNet umbrella will continue to be part of the wagering menu of our own NYRA Rewards account wagering platform.”

“New York offers some of the most dynamic horse racing in the country,” said TrackNet Chief Executive Officer Scott Daruty. “Officials with NYRA have demonstrated great foresight and customer focus by embracing an open-content model and making NYRA races available to a wide array of wagering outlets, including TwinSpires.com and XpressBet, and to more than one horse-racing television channel. New York horsemen and racetracks will benefit from this decision, as will wagering customers around the country who enjoy betting on NYRA races and who can now do so through their preferred on-track or off-track wagering platform.”

Pending appropriate approvals, NYRA’s agreement with TrackNet will run through the end of 2008. Earlier today NYRA announced that it had reached a similar non-exclusive agreement with TVG Network.

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.