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

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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

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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:

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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

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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.

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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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.

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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 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

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 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

Churchill Downs Incorporated Completes Purchase of Stake in Rivers Casino Des Plaines in Illinois

LOUISVILLE, Ky., March 05, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) today announced that it has completed its previously announced purchase of certain ownership interests of Midwest Gaming Holdings, LLC (“Midwest Gaming”), the parent company of Rivers Casino Des Plaines in Des Plaines, Illinois (“Rivers Des Plaines”), for cash consideration of approximately $407 million (the “Sale Transaction”). The closing follows the approval of the Sale Transaction by the Illinois Gaming Board on March 1, 2019. The Sale Transaction purchase price was funded with cash on hand and through the Company’s existing credit facility.

Opened in 2011, Rivers Des Plaines, located on the Des Plaines River in Des Plaines, Illinois, two miles from O’Hare International Airport and fifteen miles from downtown Chicago, features a 44,000-square-foot single-level gaming floor with 983 slot machines and 58 table games; seven dining and entertainment options; and a multi-functional event center.

About Rush Street Gaming

Founded by Neil Bluhm and Greg Carlin, Rush Street Gaming and its affiliates, headquartered in Chicago, Illinois, have developed and operate successful casinos in Niagara Falls, Ontario, Pittsburgh and Philadelphia, Pennsylvania, Des Plaines, Illinois (Chicago area) and Schenectady, New York.  Rush Street Gaming and its affiliates has become one of the leading casino developers in the United States and operators of online casinos and sports books. Additional information at: www.rushstreetgaming.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 Incorporated Completes Acquisition of Presque Isle Downs & Casino

LOUISVILLE, Ky. (January 11, 2019) – Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) today announced that it has completed the previously announced purchase of Presque Isle Downs & Casino (“Presque Isle”) in Erie, Pennsylvania from Eldorado Resorts, Inc. (“ERI”) (Nasdaq: ERI) for cash consideration of $178.9 million, subject to certain working capital and other purchase price adjustments. The purchase of the property follows the approval of the transaction by the Pennsylvania Gaming Control Board and the Pennsylvania State Horse Racing Commission. The transaction was funded with cash on hand and through the Company’s existing credit facility.

“Presque Isle will give us a foothold in Pennsylvania and the opportunity to participate in the sports betting and online gaming market throughout the state. This acquisition is projected to be immediately accretive to our shareholders,” said Bill Carstanjen, CEO of CDI. “We are excited about welcoming Presque Isle and its employees to the Churchill family.”

About Presque Isle Downs & Casino

Presque Isle Downs & Casino features live poker, table games, slots, sports wagering, entertainment and live thoroughbred horseracing, and simulcast racing.  The casino features the latest technology and amenities designed for guest comfort and expectations. It also features a state-of-the-art seven table poker room in a smoke free environment. The property features four restaurants, including the new Churchill’s Bourbon & Brew Bar and Grille, and our award-winning LBV Steakhouse. Churchill’s Bourbon & Brew features 30 beers on tap, bourbon flights, and live entertainment.

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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