Churchill Downs Incorporated Arranging Options To Secure $1 Million In On-Track Medical Insurance Coverage For Jockeys

Company Studying Long-Term Funding Mechanism With Help Of Horsemen And Jockeys

Churchill Downs Incorporated ("CDI") (NASDAQ: CHDN) today announced that it is arranging options to secure $1 million in on-track medical insurance coverage for the jockeys who compete at all seven CDI-owned and/or operated racetracks. The announcement was made by CDI's Executive Vice President and Chief Operating Officer Andrew G. Skehan.

CDI is currently in discussions with a leading insurance provider to underwrite $1 million in on-track medical insurance coverage as well as disability coverage for jockeys that compete at its racetracks in Kentucky, Florida, Illinois, Indiana and Louisiana. Jockeys competing at Hollywood Park, CDI's racetrack in Southern California, are already covered by workers' compensation insurance offered in that state. The new coverage would replace the on-track medical coverage CDI tracks currently purchase through an arrangement with the Thoroughbred Racing Associations ("TRA").

"Churchill Downs Incorporated and its racetracks are committed to funding the majority of the cost for $1 million in coverage for jockeys," said Skehan, "but we also want to engage other industry participants in discussing how best to share the increased cost for the level of coverage we now seek. We are ready to open dialogues with horsemen and jockey representatives in the states where we operate to determine a long-term funding mechanism for this added coverage. We believe it is important for all industry participants with a stake in this discussion to share responsibility for the ultimate solution.

"We are taking these steps to ensure that our industry's human athletes have adequate insurance coverage. CDI racetracks have provided on-track medical insurance coverage for jockeys even after the jockeys' own trade organization allowed its supplemental coverage for riders to lapse years ago. We are taking this action to protect the best interests of the riders who ply their trade at our facilities, and we look forward to talking with them and our horsemen about the most equitable way to distribute the cost of this additional coverage."

Churchill Downs Incorporated, headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. The Company's racetracks in California, Florida, Illinois, Indiana, Kentucky and Louisiana host 121 graded-stakes events and many of North America's most prestigious races, including the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and Arlington Million. CDI racetracks have hosted nine Breeders' Cup World Thoroughbred Championships - more than any other North American racing company. CDI also owns off-track betting facilities and has interests in various television production, telecommunications and racing services companies that support CDI's network of simulcasting and racing operations. CDI trades on the NASDAQ National Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.