Churchill Downs Incorporated Issues Statement On Outcome Of March 8 Referenda In Florida's Miami-Dade And Broward Counties

Thomas H. Meeker, president and chief executive officer of Churchill Downs Incorporated ("CDI") (NASDAQ: CHDN), today issued the following statement in response to the outcome of the March 8 referenda held in Florida's Miami-Dade and Broward counties for the authorization of alternative gaming at existing pari-mutuel facilities in those counties.

"While the outcome in Miami-Dade County was not what we had hoped for, we are very encouraged by the results in Broward County and the benefits that can be realized by Florida schools, state and local governments, and Florida's horse racing industry once alternative gaming is in place at the four locations authorized in Broward County.

"It is clear that Gov. Jeb Bush impacted the election results in Miami-Dade County. We continue to believe that allowing slot machines at South Florida's existing pari-mutuel facilities will provide new revenue streams to improve Florida schools, create new jobs, help local governments meet the needs of Florida citizens, and ensure the long-term health and viability of Florida's pari-mutuel industry, which provides tens of thousands of jobs and millions of dollars in revenue to Florida every year. Much of the non pari-mutuel gaming that already exists in Miami-Dade and Broward counties is not currently regulated or taxed, and as such does not provide this economic benefit to Floridians.

"Churchill Downs Incorporated and Calder Race Course are now focused on 2007 and the opportunity to again take this important message of economic opportunity to the voters of Miami-Dade County. We are committed to South Florida horse racing, and will continue to work with members of the pari-mutuel coalition in both Miami-Dade and Broward counties to further this important issue.

"Additionally, we would like to express our sincere appreciation to members of the coalition's campaign staff, as well as our team members at Calder, for the countless hours they have dedicated to this endeavor. We have learned a great deal in Florida about the pari-mutuel industry's potential to generate tremendous benefits for education, state and local government and the horse racing industry through the addition of alternative gaming, and we look forward to bringing these lessons back to the other jurisdictions where we operate."

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.