FAIR GROUNDS APPOINTS NEW LEADERSHIP IN FINANCIAL OPERATIONS

NEW ORLEANS (Thursday, July 5, 2018) – Bridget Harmon was named Senior Director of Finance for Churchill Downs Incorporated’s Louisiana Operations, including Fair Grounds Race Course and Slots and Fair Grounds OTB and Casinos in the New Orleans metropolitan area. Harmon, formerly the Financial Analysis Manager for Louisiana Operations has been with Fair Grounds since February of 2011 and has played an integral role in the majority of the ongoing operational needs and corporate reporting functions of the Department.

Additionally, Fair Grounds appointed Lamar Roberts to Director of Cash Operations for the venerable Track and its Slot Operations. Roberts, former Cage Manager and champion of best service practices, has held that position as a leader within the property since 2012. Rounding out the recent appointments, Courtney Duhon, previously Cage Supervisor, was promoted to Cash Operations Manager following leadership stints within the cage and an equal tenure as a team member of Fair Grounds since 2012.

“We are extremely excited to promote Bridget Harmon into our senior Finance role. Her wealth of talent and experience, proven track record and in-depth knowledge of our gaming, racing and accounting regulatory requirements will afford us the opportunity to continue building on our long-term goals of returning value to our team members, our company and our shareholders,” said Doug Shipley, president of Fair Grounds. “We are equally excited with the appointment of Lamar Roberts and Courtney Duhon into Cash Operations responsibilities for our racing and slots operations and look forward to their leadership in these roles as we prepare for our 147th live race meet this fall.”

About Fair Grounds Race Course & Slots
Fair Grounds Race Course & Slots (“Fair Grounds”), the nation’s third-oldest racetrack, has been in operation since 1872. Located in New Orleans, LA, Fair Grounds is owned by Churchill Downs Incorporated (NASDAQ: CHDN). Fair Grounds also operates a slot-machine gaming facility and 12 OTB and casinos throughout southeast Louisiana. Live racing at Fair Grounds returns in August with the running of the 10th Summer Quarter Horse Meet and in the fall with the 147th Thoroughbred Racing Season – highlighted by the 106th running of the Louisiana Derby in March of 2019. More information can be found online at www.fairgroundsracecourse.com.

Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. All forward-looking statements made in this press release are made pursuant to the Act. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management’s good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from expectations include the following: the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit; additional or increased taxes and fees; the effect of changes in tax laws on the Company or an investment in our shares, including as a result of changes made pursuant to recently enacted U.S. tax legislation; public perceptions or lack of confidence in the integrity of our business; loss of key or highly skilled personnel; restrictions in our debt facilities limiting our flexibility to operate our business; general risks related to real estate ownership, including fluctuations in market values and environmental regulations; catastrophic events and system failures disrupting our operations, including the impact of natural and other disasters on our operations and our ability to obtain insurance recoveries in respect of such losses; inability to identify and complete acquisition, expansion or divestiture projects, on time, on budget or as planned; difficulty in integrating recent or future acquisitions into our operations; legalization of online real money gaming in the United States, and our ability to capitalize on and predict such legalization; the number of people attending and wagering on live horse races; inability to respond to rapid technological changes in a timely manner; inadvertent infringement of the intellectual property of others; inability to protect our own intellectual property rights; security breaches and other security risks related to our technology, personal information, source code and other proprietary information, including failure to comply with regulations and other legal obligations relating to receiving, processing, storing and using personal information; payment- related risks, such as chargebacks for fraudulent credit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; work stoppages and labor issues; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; personal injury litigation related to injuries occurring at our racetracks; the inability of our totalisator company, United Tote, to maintain its processes accurately, keep its technology current or maintain its significant customers; weather conditions affecting our ability to conduct live racing; increased competition in the horseracing business; changes in the regulatory environment of our racing operations; declining popularity in horseracing; seasonal fluctuations in our horseracing business due to geographic concentration of our operations; increased competition in our casino business; changes in regulatory environment of our casino business; development and expansion of casinos is costly and susceptible to delays, cost overruns and other uncertainties; concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; impact of further legislation prohibiting tobacco smoking; geographic concentration of our casino business; changes in regulatory environment for our advanced deposit wagering business; increase in competition in the advanced deposit wagering business; inability to retain current customers or attract new customers to our advanced deposit wagering business; uncertainty and changes in the legal landscape relating to our advanced deposit wagering business; and failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment in our ability to offer advanced deposit wagering.