Churchill Downs Incorporated Announces a Major Expansion at Derby City Gaming

LOUISVILLE, KY., (July 28, 2021) Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced today a $76 million expansion at Derby City Gaming that includes construction of a hotel, additional gaming positions and expansion of the current amenities at the facility in order to better serve and attract guests.

The project will add 135,000 sq. ft. of new space to the facility and open with 200 additional gaming positions. The new space will be able to ultimately accommodate up to 400 new gaming positions. The expansion will include a VIP gaming space, a new sports bar, a stage for live entertainment and an upscale-casual restaurant and bar to create a variety of new food and beverage options for gaming and hotel guests throughout the entire day. The adjoining five-story hotel tower will include 123 rooms with 108 standard guest rooms, 14 corner suites and a VIP suite. The Derby City Gaming hotel will allow for guests to take advantage of unique hospitality and Kentucky Derby ticket pairing options.

“Derby City Gaming continues to exceed the Company’s expectations,” said Bill Carstanjen, CEO of CDI. “The expansion of this premier gaming property is intended to create an elevated experience for our guests that is inclusive of all their hospitality needs and is anticipated to fuel ongoing growth in purse contributions for Churchill Downs Racetrack.”

Construction on the project is scheduled to begin in early 2022 pending rezoning review and approval by the City of Louisville. The expanded gaming floor is targeted to open in late 2022 and the hotel is expected to open in the spring of 2023. The project is expected to provide for approximately 400 construction jobs and approximately 60 new permanent jobs at Derby City Gaming.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We own and operate three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online wagering platforms for horse racing, sports and iGaming in the U.S. and we have seven retail sportsbooks. We are also a leader in brick-and-mortar casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals and 200 table games. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

About Derby City Gaming

Derby City Gaming opened its doors on September 14, 2018 as the only gaming facility in Louisville, Kentucky. The 93,000 square foot facility is located approximately five miles from both the Louisville International Airport and the historic Churchill Downs Racetrack. Derby City Gaming features over 1,000 state-of-the-art Historical Racing Machines with over 130 popular game themes. The facility also includes two locally-inspired restaurants, Lil’ Wagners and Railbird’s Hot Chicken that seat over 160 people, a spacious 60-seat center bar with fourteen large TVs and two dedicated smoking and gaming patios with over 300 games combined, and more. www.DerbyCityGaming.com

Certain statements made in this news release contain various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. 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 or similar expressions (or negative versions of such words or expressions). 

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, among others, that may materially affect actual results or outcomes include the following: the impact of the novel coronavirus (COVID-19) pandemic, including the emergence of variant strains, and related economic matters on our results of operations, financial conditions and prospects; the occurrence of extraordinary events, such as terrorist attacks, public health threats, civil unrest, and inclement weather; the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit; additional or increased taxes and fees; the impact of significant competition, and the expectation the competition levels will increase; changes in consumer preferences, attendance, wagering, and sponsorships; loss of key or highly skilled personnel; lack of confidence in the integrity of our core businesses or any deterioration in our reputation; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; inability to successfully expand our TwinSpires Sports and Casino business and effectively compete; inability to identify and complete expansion, acquisition or divestiture projects, on time, on budget or as planned; difficulty in integrating recent or future acquisitions into our operations; costs and uncertainties relating to the development of new venues and expansion of existing facilities; general risks related to real estate ownership and significant expenditures, including fluctuations in market values and environmental regulations; reliance on our technology services and catastrophic events and system failures disrupting our operations; online security risk, including cyber-security breaches, or loss or misuse of our stored information as a result of a breach, including customers’ personal information, could lead to government enforcement actions or other litigation; personal injury litigation related to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; payment-related risks, such as risk associated with fraudulent credit card and debit card use; work stoppages and labor issues; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions in our debt facilities limiting our flexibility to operate our business; failure to comply with the financial ratios and other covenants in our debt facilities and other indebtedness; and increase in our insurance costs, or obtain similar insurance coverage in the future, and inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events.

We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

You may also be interested in:

Churchill Downs Incorporated Announces a Major Expansion at Derby City Gaming

Churchill Downs Incorporated announced today a $76 million expansion at Derby City Gaming that includes construction of a hotel, additional gaming positions and expansion of the current amenities at the facility in order to better serve and attract guests.

Read More
Churchill Downs Incorporated Announces a Major Expansion at Derby City Gaming

Churchill Downs Incorporated announced today a $76 million expansion at Derby City Gaming that includes construction of a hotel, additional gaming positions and expansion of the current amenities at the facility in order to better serve and attract guests.

Read More
Churchill Downs Incorporated Announces a Major Expansion at Derby City Gaming

Churchill Downs Incorporated announced today a $76 million expansion at Derby City Gaming that includes construction of a hotel, additional gaming positions and expansion of the current amenities at the facility in order to better serve and attract guests.

Read More

Churchill Downs Incorporated Announces Multi-Year Projects to Transform the Legendary Churchill Downs Racetrack

LOUISVILLE, KY., (July 28, 2021) Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced three major multi-year capital investments to transform key areas of Churchill Downs Racetrack (“Churchill Downs”). These projects will ultimately provide new, unique and extraordinary guest experiences for the Kentucky Derby in the coming years. These investments round out the previously-announced Turf Course replacement project which is currently underway and is on schedule to be ready for racing at the 148th Kentucky Derby in May 2022.

Homestretch Club

The Homestretch Club will renovate and update the grandstand area adjacent to the Twin Spires along the famed track’s homestretch. The project will convert what is currently outdoor bleacher seating next to the Winner’s Circle Suites and below the Jockey Club Suites into three unique seating options with all-inclusive amenities. This location offers an ideal view of the starting gate, a superior vantage of the track’s Big Board and a bird’s eye view of the homestretch as the horses thunder to the finish line. Ticketed guests in the Homestretch Club will have access to 18,600 sq. ft. of new interior premium hospitality space in the first-floor concourse area that will be transformed into a newly reimagined, high-end air-conditioned club atmosphere to place a bet, enjoy the all-inclusive food and beverage offerings and other amenities. This premium hospitality space will be accented by a grand staircase and a 100 ft. feature bar making it an elegant and desirable option for special events at historic Churchill Downs.

The new all-inclusive ticket offerings for the Homestretch Club will include:

  • 30 Trackside Lounges along the rail for up to 200 guests offering a “courtside seat” experience
  • 66 Terraced Dining Tables for up to 440 guests, creating covered outdoor dining
  • 2,610 Stadium Club seats, providing a cushioned, comfortable and upgraded experience
  • 5 private VIP Hospitality Lounges for up to 60 guests

In total, the project will provide for 3,250 all-inclusive seats, which is 1,950 fewer reserved seats than were previously in this area. The $45 million Homestretch Club is scheduled for completion in time for the 148th Kentucky Derby in 2022.

Turn 1 Experience

The Turn 1 Experience will introduce permanent all-inclusive stadium seats at Churchill Downs in a unique location with exclusive views of the Kentucky Derby walkover and the picturesque first turn framed by the Twin Spires. This project will upgrade and expand what is currently 3,400 temporary Oaks and Derby seats to 5,100 all-inclusive permanent stadium seats with significantly improved amenities to enhance the overall guest experience. The permanent construction will also add a climate-controlled hospitality venue below the new stadium seats that will serve as premium seating for up to 2,000 guests who will have access to an adjacent trackside reserved viewing terrace allowing them to view signature moments along the rail.

The Turn 1 Experience will include:

  • 5,100 Covered Stadium Seats
  • 50,000 sq ft. climate-controlled Hospitality Venue that includes reserved dining room tables for up to 2,000 guests with an adjacent trackside Viewing Terrace
  • 2 Concourses to allow for better guest circulation and additional customer amenities for stadium seat-ticketed guests, creating a convenient place for socializing with outdoor racetrack view

In total, the project will provide for 7,100 all-inclusive seats, which is 3,700 more reserved seats than were previously in this area. The $90 million Turn 1 Experience is scheduled for completion in time for the 149th Kentucky Derby in 2023.

The combination of these two capital investments will result in a net addition of 1,750 premium reserved seats.


Paddock Area Redesign

The Paddock Area Redesign is in the early design stage and will transform the existing Paddock area in a manner that will enhance the experience for nearly every guest who enters the gates of the historic racetrack. In addition to introducing new and innovative seating and experiences, the redesign will reduce congestion by significantly improving the flow of guests through the Paddock and Plaza areas. This project is tentatively scheduled to debut for the 150th Kentucky Derby in May 2024. More details will be shared in the coming months.

Turf Course

These Churchill Downs capital projects come on the heels of CDI’s $10 million investment to install a new turf course, currently in construction, that will widen the running surface and increase durability and safety in response to a growing demand for turf racing throughout the year. The Tahoma 31 Bermudagrass turf course, selected with worldwide sports turf experts, will include a redesigned subsurface and state-of-the-art irrigation and drainage system. The update will provide multiple rail movement options and as many as 14 participants per race. The new turf course is scheduled to be ready for racing at the 148th Kentucky Derby in May 2022.

“These capital investments are a direct response to our customer’s demand for a unique and extraordinary atmosphere,” said Bill Carstanjen, CEO of CDI. “The upgrades we plan to introduce are designed to ensure that Churchill Downs remains the premier racing destination for generations to come with unparalleled service, entertainment and racing experiences for our guests – which is truly the hallmark of the Kentucky Derby. With each project we have given great focus to elevating the product while maintaining and honoring the rich history and tradition of Churchill Downs Racetrack”

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We own and operate three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online wagering platforms for horse racing, sports and iGaming in the U.S. and we have seven retail sportsbooks. We are also a leader in brick-and-mortar casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals and 200 table games. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

About Churchill Downs Racetrack

Churchill Downs Racetrack (“Churchill Downs”), the world’s most legendary racetrack, has been the home of The Kentucky Derby, the longest continually held annual sporting event in the United States, since 1875. Located in Louisville, Churchill Downs features a series of themed race days during Derby Week, including the Kentucky Oaks, and conducts Thoroughbred horse racing during three race meets in the Spring, September, and the Fall. Churchill Downs is located on 175 acres and has a one-mile dirt track, a 7/8-mile turf track, a stabling area, and provides seating for approximately 60,000 guests. The saddling paddock and the stable area has barns sufficient to accommodate 1,400 horses and a 114-room dormitory for backstretch personnel. Churchill Downs also has a year-round simulcast wagering facility. www.ChurchillDowns.com

Certain statements made in this news release contain various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. 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 or similar expressions (or negative versions of such words or expressions). 

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, among others, that may materially affect actual results or outcomes include the following: the impact of the novel coronavirus (COVID-19) pandemic, including the emergence of variant strains, and related economic matters on our results of operations, financial conditions and prospects; the occurrence of extraordinary events, such as terrorist attacks, public health threats, civil unrest, and inclement weather; the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit; additional or increased taxes and fees; the impact of significant competition, and the expectation the competition levels will increase; changes in consumer preferences, attendance, wagering, and sponsorships; loss of key or highly skilled personnel; lack of confidence in the integrity of our core businesses or any deterioration in our reputation; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; inability to successfully expand our TwinSpires Sports and Casino business and effectively compete; inability to identify and complete expansion, acquisition or divestiture projects, on time, on budget or as planned; difficulty in integrating recent or future acquisitions into our operations; costs and uncertainties relating to the development of new venues and expansion of existing facilities; general risks related to real estate ownership and significant expenditures, including fluctuations in market values and environmental regulations; reliance on our technology services and catastrophic events and system failures disrupting our operations; online security risk, including cyber-security breaches, or loss or misuse of our stored information as a result of a breach, including customers’ personal information, could lead to government enforcement actions or other litigation; personal injury litigation related to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; payment-related risks, such as risk associated with fraudulent credit card and debit card use; work stoppages and labor issues; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions in our debt facilities limiting our flexibility to operate our business; failure to comply with the financial ratios and other covenants in our debt facilities and other indebtedness; and increase in our insurance costs, or obtain similar insurance coverage in the future, and inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events.

We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

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Churchill Downs Incorporated Announces Multi-Year Projects to Transform the Legendary Churchill Downs Racetrack

Churchill Downs Incorporated announced three major multi-year capital investments to transform key areas of Churchill Downs Racetrack.

Read More
Churchill Downs Incorporated Announces Multi-Year Projects to Transform the Legendary Churchill Downs Racetrack

Churchill Downs Incorporated announced three major multi-year capital investments to transform key areas of Churchill Downs Racetrack.

Read More
Churchill Downs Incorporated Announces Multi-Year Projects to Transform the Legendary Churchill Downs Racetrack

Churchill Downs Incorporated announced three major multi-year capital investments to transform key areas of Churchill Downs Racetrack.

Read More

Rivers Casino Des Plaines Unveils Expansion Plans, Including New Poker Room

Plans Call for Larger Gaming Floor, New Event Space, and Additional Restaurant

LOUISVILLE, KY., (Feb. 16, 2021) Churchill Downs Incorporated (“CDI” or “Company”) (Nasdaq: CHDN) announced today that Rivers Casino Des Plaines (“Rivers”) has filed expansion plans with the City of Des Plaines and Illinois Gaming Board that, if approved, will allow the casino to add approximately 725 gaming positions, making it the first to have the state’s maximum number of 2,000 positions. The proposed two-story addition will house a poker room, additional gaming areas, a ballroom for events, and a new restaurant. Rivers is jointly owned by Rush Street Gaming and Churchill Downs Incorporated.

The $87 million 78,000 square-foot expansion will be built between the existing casino building and the recently enlarged parking garage on the north side of the property. The first floor of the addition will house a new restaurant and an expanded gaming floor for slots and table games. The second floor will feature a 24-table poker room; a 10,000 square-foot ballroom for private events and live entertainment, and a slot machine gaming area.

“With this proposed expansion, we will be able to offer our guests more of the entertainment and dining options they enjoy, additional gaming opportunities and a long-desired poker room,” said CEO Greg Carlin, co-founder of Rush Street Gaming. “We have always offered a first-class experience for our guests. As the economy re-opens, we’re excited to raise the bar and provide them with an even better experience.”

“Rivers is Illinois’ most popular casino destination, and with this expansion we are continuing to focus on our guests to earn their loyalty,” said Corey Wise, Senior Vice President and General Manager of Rivers Casino. “We were the first casino to become land-based to expand our gaming floor. BetRivers was the state’s first sportsbook to open and we provided fans with the state’s first mobile sports betting option. When complete, we will be the first casino in Illinois to offer our guests 2,000 gaming positions.”

Initially, the expansion plan calls for the addition of 260 table game positions (a 70 percent increase) and will add 439 slot game positions (a 48 percent increase). Under the current plan, the property will have 26 additional gaming positions to allocate in the future. Rivers will pay the State of Illinois $24 million in gaming position licensing fees in June 2021.

The plan is subject to regulatory approval from the Illinois Gaming Board. The City of Des Plaines must also approve the addition, and representatives for Rivers will begin that formal zoning process in late February.

If approved, construction can begin this spring and be completed by spring 2022.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We own and operate three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines in Kentucky. We also own and operate TwinSpires, one of the largest and most profitable online wagering platforms for horse racing, sports and iGaming in the U.S. and we have seven retail sportsbooks. We are also a leader in brick-and-mortar casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals and 200 table games. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

About Rush Street Gaming

Founded by Neil Bluhm and Greg Carlin, Rush Street Gaming and its affiliates have developed and operate successful casinos in Pittsburgh, Philadelphia, Des Plaines, IL (Chicago area) and Schenectady, NY. By placing an emphasis on superior design and outstanding customer service, Rush Street Gaming has become one of the leading casino developers in the United States. Existing casinos generate over $1 billion in annual gaming revenues, and all Rush Street Gaming casinos have been voted a “Best Place to Work” or “Top Workplace” by their team members.

About Rivers Casino Des Plaines

Rivers Casino Des Plaines is the most successful casino in Illinois and jointly owned by Rush Street Gaming and Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN).

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

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Churchill Downs Incorporated to Launch TwinSpires Sportsbook and iGaming Platform in Michigan

Churchill Downs Incorporated announced today the launch of its TwinSpires Sportsbook and iGaming platform in Michigan on Friday, January 22, 2021 at 12:00 p.m. EST on iOS and android as well as desktop.

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Churchill Downs Incorporated Names Mike Anderson President of Churchill Downs Racetrack

Churchill Downs Incorporated today announced that Mike Anderson has been named the 14th President of Churchill Downs Racetrack, home of America’s greatest race, the Kentucky Derby.

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Churchill Downs Donates $150,000 Across 15 Nonprofits for Giving Tuesday

Churchill Downs Incorporated is proud to support many of Louisville’s worthy nonprofits today on Giving Tuesday, a nationwide day of giving, with multiple donations totaling $150,000.

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Churchill Downs Racetrack to Install New Turf Course

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We also own and operate three pari-mutual gaming entertainment venues in Kentucky: Derby City Gaming; Oak Grove Racing, Gaming, and Hotel; and Newport Racing and Gaming. Our online wagering business owns and operates TwinSpires.com, the largest and most profitable online horse racing wagering platform in the U.S., and BetAmerica, an online sports betting and iGaming platform in the U.S. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

About Churchill Downs Racetrack

Churchill Downs Racetrack (“CDRT”), the world’s most legendary racetrack, has been the home of The Kentucky Derby, the longest continually held annual sporting event in the United States, since 1875. Located in Louisville, CDRT features a series of themed race days during Derby Week, including the Kentucky Oaks, and conducts Thoroughbred horse racing during three race meets in the Spring, September, and the Fall. CDRT is located on 175 acres and has a one-mile dirt track, a 7/8-mile turf track, a stabling area, and provides seating for approximately 60,000 guests. The saddling paddock and the stable area has barns sufficient to accommodate 1,400 horses and a 114-room dormitory for backstretch personnel. CDRT also has a year-round simulcast wagering facility. www.ChurchillDowns.com.

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

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BetRivers Sportsbook Opens at Rivers Casino Des Plaines

Churchill Downs Incorporated and Rush Street Gaming announced today that BetRivers Sportsbook opened at their joint venture, Rivers Casino Des Plaines—the home of the first brick-and-mortar sportsbook to be approved by the Illinois Gaming Board.

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Churchill Downs Incorporated Launches Retail Sportsbook in Indiana

Churchill Downs Incorporated announced that it launched its BetAmerica retail sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.

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Churchill Downs Incorporated Appoints Paul C. Varga as New Board Member

Churchill Downs Incorporated announced today the appointment of Paul C. Varga to the Company’s Board of Directors.

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Churchill Downs Incorporated to Invest $5.6 Million in New Synthetic Track Surface at Turfway Park

FLORENCE, Ky., (Feb. 18, 2020)  Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) announced today plans to invest $5.6 million to replace the existing track at Turfway Park (“Turfway”) with a new Tapeta synthetic track, one of the world’s leading surfaces for racing and training, through an agreement with Tapeta Footings, Inc. (“Tapeta”). The removal of Turfway’s existing Polytrack and installation of the new Tapeta synthetic track will take place immediately following the close of Turfway’s Winter/Spring Meet on March 28 and is expected to be ready for the 2020 Holiday Meet beginning on Dec. 2.

CDI owns and operates three of the four synthetic tracks in the United States while Turfway will become only the third track in America to use the state-of-the-art Tapeta synthetic surface, joining CDI-owned Presque Isle Downs in Pennsylvania. The product is specifically designed as an all-weather surface for the safety of horses and riders in Thoroughbred racing. Tapeta is comprised of a carefully selected mixture of the finest silica sand, wax and fibres that simulate the root structure of turf and has been proven to perform exceptionally well in heavy rainfall and winter weather consistent with Turfway’s racing conditions.

“The Tapeta team are all delighted to have been chosen to install a Tapeta surface at Turfway Park,” said Joan Wakefield, Vice President of Tapeta Footings, Inc. “We look forward to working with CDI and can only applaud them for a huge commitment in upgrading the entire facility. It is a huge boost for Northern Kentucky and comes at a welcome time for the racing industry.”

The Tapeta track installation is one component of CDI’s investment that will make way for development of Turfway Park Racing & Gaming, an up to $150 million state-of-the art live and historical Thoroughbred racing facility.

“The agreement with Tapeta is the first of many exciting initiatives to come for Turfway,” said Kevin Flanery, President of Churchill Downs Racetrack and Turfway Park. “By partnering with Tapeta to provide the safest racing conditions for Turfway’s winter meets, we will be able to deliver one of the key elements supporting our goal of bringing a first-class racing product to Northern Kentucky.”

The redevelopment of Turfway is anticipated to support up to 400 direct full and part-time equivalent positions and create an estimated 800 direct construction jobs. The project will include a historical racing

machine facility featuring up to 1,500 machines, a state-of-the-art clubhouse as well as food/beverage venues.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event - The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. We also own and operate the largest online horse racing wagering platform in the U.S., TwinSpires.com, and we operate sports betting and iGaming through our BetAmerica platform in multiple states. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

You may also be interested in:

BetRivers Sportsbook Opens at Rivers Casino Des Plaines

Churchill Downs Incorporated and Rush Street Gaming announced today that BetRivers Sportsbook opened at their joint venture, Rivers Casino Des Plaines—the home of the first brick-and-mortar sportsbook to be approved by the Illinois Gaming Board.

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Churchill Downs Incorporated Launches Retail Sportsbook in Indiana

Churchill Downs Incorporated announced that it launched its BetAmerica retail sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.

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Churchill Downs Incorporated Appoints Paul C. Varga as New Board Member

Churchill Downs Incorporated announced today the appointment of Paul C. Varga to the Company’s Board of Directors.

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Churchill Downs to Invest $300 Million in New Stadium Seating, a Hotel and HRM Facility

LOUISVILLE, Ky., Oct. 30, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) announced plans to invest $300 million to build a hotel and historical racing machine (“HRM”) facility and permanent stadium seating at Churchill Downs Racetrack (“Churchill Downs”), the home of The Kentucky Derby. Pending final approval of a Kentucky Tourism Development Act incentive, construction would begin in December 2019 and is targeted to be completed in November 2021.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Churchill Downs Incorporated - Oct. 30: Media Snippet

The development will transform the area alongside the track at the first turn providing unparalleled VIP guest experiences. The new 156-room 7-story one-of-a-kind hotel will provide a spectacular new opportunity to celebrate with a variety of once-in-a-lifetime guest experiences. Features include:

  • 1st floor grand entry into the hotel and a 900-machine state-of-the-art HRM gaming floor, sports bar, VIP lounge and multiple year-round dining venues that will also provide new hospitality for 3,400 guests in existing Section 111 of the racetrack for Kentucky Derby and Oaks
  • 2nd floor 27,000-square-foot ballroom and adjacent party deck with a tiered covered balcony facing the track with collective capacity for more than 1,700 guests
  • 2nd floor meeting rooms providing desirable event space throughout the year, including a track-facing dining room for 150 guests
  • 3rd floor balcony for 250 guests
  • 3rd – 6th Floors to include 156 total hotel rooms of the following types:
    -  92 trackside suites with private balconies, covered panoramic views and 12 access passes per suite for entertaining guests during the race day
    -  60 suites that will offer 8 access passes to the 2nd floor party deck
    -  4 track-facing presidential suites with private balconies for entertaining up to 20 guests at the Derby that will offer the ultimate and most exclusive guest experience
  • 7th floor penthouse banquet area for 320 guests with balconies that stretch the length of the building
  • Permanent outdoor stadium seating for 4,700 guests as well as all-inclusive hospitality that will replace 3,300 temporary grandstand seats.

In total, the project will provide approximately 5,500 new reserved seating options for the Kentucky Derby and Oaks. Additionally, 6,700 existing customers will have access to upgraded amenities.

“Derby Week guests can wake up to the sun rising as horses breeze around the track and then have their Kentucky Derby party in their suite,” said Kevin Flanery, President of Churchill Downs Racetrack. “Our goal is to create a one-of-a-kind experience that will honor the history of the Derby and provide a venue for our guests, the community and visitors of Louisville to enjoy throughout the year.”

The combined project will provide for an estimated 600 construction jobs while it is being built and ultimately create approximately 300 new permanent jobs upon completion. CDI has received preliminary approval for Tourism Development Act incentives that will enable this project to move forward and is awaiting final approval from the Kentucky Tourism Development Finance Authority in November.

About Churchill Downs Racetrack

Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, The Kentucky Derby, continuously since 1875. Located in Louisville, Ky., the flagship racetrack of Churchill Downs Incorporated (Nasdaq: CHDN) offers year-round simulcast wagering at the historic track. Churchill Downs will conduct the 146th running of the Kentucky Derby Presented by Woodford Reserve on May 2, 2020. The track’s 2019 Fall Meet will run from Oct. 27-Dec. 1. Information is available at www.ChurchillDowns.com.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event - The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. We also own and operate the largest online horse racing wagering platform in the U.S., TwinSpires.com, and we operate sports betting and iGaming through our BetAmerica platform in multiple states. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

You may also be interested in:

BetRivers Sportsbook Opens at Rivers Casino Des Plaines

Churchill Downs Incorporated and Rush Street Gaming announced today that BetRivers Sportsbook opened at their joint venture, Rivers Casino Des Plaines—the home of the first brick-and-mortar sportsbook to be approved by the Illinois Gaming Board.

Read More
Churchill Downs Incorporated Launches Retail Sportsbook in Indiana

Churchill Downs Incorporated announced that it launched its BetAmerica retail sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.

Read More
Churchill Downs Incorporated Appoints Paul C. Varga as New Board Member

Churchill Downs Incorporated announced today the appointment of Paul C. Varga to the Company’s Board of Directors.

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Churchill Downs Investing $11 Million to Create a Premium Upscale Experience for the 146th Kentucky Derby

LOUISVILLE, Ky., Oct. 30, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) announced today that it will invest $11 million to create a premium upscale experience on the 6th floor next to The Mansion at Churchill Downs Racetrack (“Churchill Downs”) – the home of The Kentucky Derby. The newly renovated area with picturesque views of the racetrack’s finish line will replace the existing Millionaires Row on level 6 in time for guests at the 2020 Kentucky Derby.

“Creating unique experiences for our guests has been the hallmark of the Kentucky Derby,” said Kevin Flanery, President of Churchill Downs Racetrack. “This investment will provide another opportunity for us to deliver a luxurious and truly once-in-a-lifetime experience for our guests.”Upscale offerings, including an exclusive finely-curated culinary menu and an extensive bourbon, wine and champagne service for 350 guests, will create another one-of-a-kind experience for guests.

Renovation will begin in December 2019 and will be completed prior to the running of the 146th Kentucky Derby Presented by Woodford Reserve on Saturday, May 2, 2020 .   

About Churchill Downs Racetrack

Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, The Kentucky Derby, continuously since 1875. Located in Louisville, Ky., the flagship racetrack of Churchill Downs Incorporated (Nasdaq: CHDN) offers year-round simulcast wagering at the historic track. Churchill Downs will conduct the 146th running of the Kentucky Derby Presented by Woodford Reserve on May 2, 2020. The track’s 2019 Fall Meet will run from Oct. 27-Dec. 1. Information is available at www.ChurchillDowns.com.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event - The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. We also own and operate the largest online horse racing wagering platform in the U.S., TwinSpires.com, and we operate sports betting and iGaming through our BetAmerica platform in multiple states. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

You may also be interested in:

BetRivers Sportsbook Opens at Rivers Casino Des Plaines

Churchill Downs Incorporated and Rush Street Gaming announced today that BetRivers Sportsbook opened at their joint venture, Rivers Casino Des Plaines—the home of the first brick-and-mortar sportsbook to be approved by the Illinois Gaming Board.

Read More
Churchill Downs Incorporated Launches Retail Sportsbook in Indiana

Churchill Downs Incorporated announced that it launched its BetAmerica retail sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.

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Churchill Downs Incorporated Appoints Paul C. Varga as New Board Member

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Miami Valley Gaming Announces $100 Million Expansion To Build a Hotel, Parking Garage and Expanded Gaming Floor

LEBANON, Ohio, Oct. 30, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) announced today that Miami Valley Gaming & Racing, LLC (“MVG”), its joint venture racino with Delaware North Gaming & Entertainment, plans to build a hotel, parking garage and expanded gaming floor and add up to 250 additional video lottery terminals (“VLTs”). The $100 million expansion is scheduled to be completed by the second quarter of 2021 and will be financed with debt at the joint venture.

The proposed project will include 192 rooms and suites, a new full-service restaurant, coffee bar and 1,000-car parking garage, which will allow MVG to expand the geographical market reach of the property. The expansion will add over 10,000 square feet of gaming floor space and increase the number of VLTs in operation to approximately 2,200.

“Miami Valley Gaming has been very successful since it was built in 2013, and the team has consistently driven strong growth while also being a great asset to their community,” said Bill Carstanjen, CEO of Churchill Downs Incorporated. “This investment will enable MVG to meet the increased demand from a broader geographical reach and enhance the guest experience with high-quality amenities.”

MVG currently employs over 450 people and has delivered more than $270 million in gaming taxes to the Ohio Lottery and $83 million in purses to the Ohio Harness Horseman’s Association since opening. The project will create an estimated 300 construction jobs as well as over 100 additional full-time employment opportunities.

About Miami Valley Gaming

Miami Valley Gaming & Racing LLC is located midway between Dayton and Cincinnati – just off of I-75 at Exit 29. Miami Valley Gaming features over 1,900 state-of-the-art video lottery terminals, a racing simulcast center, and Miami Valley Raceway: a 5/8-mile harness racetrack with an indoor grandstand. Patrons have several dining options, including Cin City Sea & Steak, Acres Seasonal Buffet and Trifecta, which features three fast-casual eateries in one. Miami Valley Gaming regularly features local entertainment acts and offers a broad selection of cocktails, spirits, wines and craft brews and other beers at its signature Center Bar and the 1803 Bar. For more information, visit www.miamivalleygaming.com.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event - The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. We also own and operate the largest online horse racing wagering platform in the U.S., TwinSpires.com, and we operate sports betting and iGaming through our BetAmerica platform in multiple states. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

You may also be interested in:

BetRivers Sportsbook Opens at Rivers Casino Des Plaines

Churchill Downs Incorporated and Rush Street Gaming announced today that BetRivers Sportsbook opened at their joint venture, Rivers Casino Des Plaines—the home of the first brick-and-mortar sportsbook to be approved by the Illinois Gaming Board.

Read More
Churchill Downs Incorporated Launches Retail Sportsbook in Indiana

Churchill Downs Incorporated announced that it launched its BetAmerica retail sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.

Read More
Churchill Downs Incorporated Appoints Paul C. Varga as New Board Member

Churchill Downs Incorporated announced today the appointment of Paul C. Varga to the Company’s Board of Directors.

Read More

Churchill Downs Applies to Bring New Latonia Racing & Gaming, a $200 Million Thoroughbred Racing Facility, to Northern Kentucky

LOUISVILLE, Ky., Sept. 05, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced today that it will file an application with the Kentucky Horse Racing Commission (“KHRC”) requesting to host a 2020 winter Thoroughbred racing meet at historic Churchill Downs Racetrack (“CDRT”) in Louisville, Kentucky as the Company constructs New Latonia Racing & Gaming (“New Latonia”), an up to $200 million proposed live and historical racing and year-round training facility in northern Kentucky, to host Thoroughbred racing in future years.

The application requests that NKYRG, LLC (“NKYRG”), a wholly owned subsidiary of CDI, be issued a racing license to conduct live Thoroughbred racing in January through March and in December 2020, pursuant to a lease agreement between NKYRG and CDRT.

Allocation of these 2020 race dates to NKYRG is a critical, short-term measure to support the Thoroughbred racing circuit in Kentucky. CDI expects that awarding these 2020 race dates to NKYRG will lead to significantly increased purses and pari-mutuel handle, resulting in increased tax revenues to the Kentucky General Fund, Thoroughbred Development Fund, the Equine Industry Program, Equine Drug Research and the Higher Education Fund.

If approved by the KHRC, upon completion of the new racing facility, these race dates would permanently move to the proposed New Latonia facility.

“Churchill Downs is stepping up to protect and grow Kentucky’s Thoroughbred racing circuit,” said Kevin Flanery, President of CDRT. “Our willingness to make a sizeable investment in the neglected northern Kentucky market is our latest effort to improve Kentucky’s valuable horse racing and agriculture industries.”

Phase One of the proposed New Latonia facility represents an up to $150 million economic development project for northern Kentucky anticipated to create nearly 400 direct full and part time equivalent positions and an estimated 800 direct construction jobs. Aspects of Phase One of the project include a historical racing machine facility featuring up to 1,500 machines, a state-of-the-art clubhouse, food/beverage venues, one-mile synthetic main race track, inner dirt track and stabling facilities. CDI expects New Latonia will remain open year-round as a training facility to support the Thoroughbred racing circuit across the Commonwealth. Phase Two of the proposed project may include the addition of a hotel, with an incremental investment of up to $50 million.

“Just as Derby City Gaming’s historical racing machines have supercharged purses at Churchill Downs Racetrack, we plan to do the same for northern Kentucky’s racing fans at New Latonia,” said Flanery. “Our goal is to deliver an ultra-competitive racing product with more entries and high-quality horses that appeal to bettors and horseplayers nationwide.”

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event - The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. We also own and operate the largest online horse racing wagering platform in the U.S., TwinSpires.com, and we operate sports betting and iGaming through our BetAmerica platform in multiple states. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

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BetRivers Sportsbook Opens at Rivers Casino Des Plaines

Churchill Downs Incorporated and Rush Street Gaming announced today that BetRivers Sportsbook opened at their joint venture, Rivers Casino Des Plaines—the home of the first brick-and-mortar sportsbook to be approved by the Illinois Gaming Board.

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Churchill Downs Incorporated Launches Retail Sportsbook in Indiana

Churchill Downs Incorporated announced that it launched its BetAmerica retail sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.

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Churchill Downs Incorporated Appoints Paul C. Varga as New Board Member

Churchill Downs Incorporated announced today the appointment of Paul C. Varga to the Company’s Board of Directors.

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Churchill Downs Incorporated Completes Transaction to Assume Management of Lady Luck Casino Nemacolin

LOUISVILLE, Ky., March 08, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) today announced that it has completed its previously announced transaction to assume management of Lady Luck Casino Nemacolin in Farmington, Pennsylvania (“Lady Luck Nemacolin”) and acquire certain assets related to the management of Lady Luck Nemacolin from Eldorado Resorts, Inc. (“ERI”) (Nasdaq: ERI) for cash consideration of $100,000. The closing follows the approval of the transaction by the Pennsylvania Gaming Control Board on March 6, 2019.

Lady Luck Nemacolin opened in 2013, is located one mile from Nemacolin Woodlands Resort in Farmington, Pennsylvania, and operates approximately 600 slot machines and 27 table games.

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event - The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. We also own and operate the largest online horse racing wagering platform in the U.S., TwinSpires.com, and we operate sports betting and iGaming through our BetAmerica platform in multiple states. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Information set forth in this news release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), which provides certain “safe harbor” provisions. All forward-looking statements made in this news release are made pursuant to the Act. 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; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; 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; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; 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; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; 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; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit.

Press Contacts

Nick Zangari
Vice President, Treasury, Investor Relations & Risk Management

Tonya Abeln
Vice President, Corporate Communications

You may also be interested in:

BetRivers Sportsbook Opens at Rivers Casino Des Plaines

Churchill Downs Incorporated and Rush Street Gaming announced today that BetRivers Sportsbook opened at their joint venture, Rivers Casino Des Plaines—the home of the first brick-and-mortar sportsbook to be approved by the Illinois Gaming Board.

Read More
Churchill Downs Incorporated Launches Retail Sportsbook in Indiana

Churchill Downs Incorporated announced that it launched its BetAmerica retail sportsbook at Rising Star Casino Resort in Rising Sun, Indiana.

Read More
Churchill Downs Incorporated Appoints Paul C. Varga as New Board Member

Churchill Downs Incorporated announced today the appointment of Paul C. Varga to the Company’s Board of Directors.

Read More