TrackNet Media Responds to Youbet Announcement

FOR IMMEDIATE RELEASE Contact: Scott Daruty

Chief Executive Officer

TrackNet Media Group LLC

(626) 574-6322 (office)

Scott Daruty, chief executive officer of TrackNet Media Group, LLC (“TrackNet Media”), today responded to the announcement of Youbet.com (“Youbet’), an advance deposit wagering (“ADW”) company based in Woodland Hills, Calif., that negotiations between Youbet and TrackNet Media have reached an impasse.

“Since its inception, TrackNet Media has sought broad distribution of its horse racing signals through a wide variety of wagering outlets and platforms, including ADW companies not affiliated with Churchill Downs Incorporated or Magna Entertainment Corp., the joint owners of TrackNet Media,” said Daruty. “We believe ADW companies should differentiate themselves based on innovation, customer service, customer satisfaction and the quality of their wagering platform – not based on exclusive content agreements. Unfortunately, for almost a decade our industry, and the growth of ADW, has been encumbered by exclusive content arrangements held by Television Games Network (“TVG”).

“In order to achieve our goal of broad distribution, TrackNet Media is seeking an agreement with TVG that would provide for a content exchange between TrackNet Media and TVG. Such an agreement would, subject to receiving appropriate horsemen and regulatory approvals, allow all responsible, regulated ADW companies to offer all major U.S. racing content. We strongly believe that such an arrangement is in the best interest of the racetracks, horsemen and wagering public. We are awaiting a response to our proposal from TVG.

“The Youbet management team is aware of the fact that we are seeking a content exchange agreement with TVG. Nevertheless, Youbet elected today to issue a public statement that mistakenly accuses officials from TrackNet Media and its joint owners of failing to keep their word to horsemen, customers and the industry as a whole. Youbet is the only large national ADW provider with a sublicense agreement in place allowing it to accept wagers on the TVG exclusive content on a going-forward basis. Youbet now seeks the right to accept wagers on TrackNet Media content as well – leaving Youbet as the only national provider able to offer its customers all major U.S. racing content. Such an arrangement would put all of Youbet’s competitors, including TVG, AmericaTAB, XpressBet and the yet-to-launch TwinSpires account-wagering service at a disadvantage, and it would unfairly penalize customers of those ADW platforms who want access to a broad range of content.

“We sincerely regret any inconvenience the present impasse between TrackNet Media and Youbet causes racing fans. However, we believe the ultimate solution we are trying to achieve is in the best long-term interest of the industry. To that end, TrackNet Media remains committed to its efforts to make all horse racing content available to all responsible, regulated ADW platforms on fair, market-based terms.”

TrackNet Media Group LLC (“TrackNet Media”) 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), which each holds a 50-percent interest in the company. TrackNet Media 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 Media also purchases horse racing content from other content producers for distribution to its member racetracks and to advance deposit wagering platforms, including XpressBet Inc. and TwinSpires. TrackNet Media 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 Media is headquartered in Louisville, Ky., and also has offices in Arcadia, Calif.