Churchill Downs Incorporated
Encyclopedia
Churchill Downs Incorporated is the parent company of Churchill Downs
. The company owns several other thoroughbred
and standardbred racetracks.
. The plan resulted in the purchase of Hoosier Park
from businessman Louis Carlo.
In 1998, CDI purchased Ellis Park Racecourse in Henderson, Kentucky
. In 1999, the company acquired Calder Race Course
and Hollywood Park Racetrack from Hollywood Park Inc.
In 2000, CDI merged with Arlington Park
and the eight OTB's owned by Arlington. In 2004 the Churchill Downs Incorporated finalized the purchase of Fair Grounds Race Course
.
In April 2002, Churchill Downs Incorporated established the Green Pastures Program in partnership with the Thoroughbred Retirement Foundation
, a leading American racehorse rescue and adoption organization.
In 2005, the company announced that it was selling Hollywood Park Racetrack to the Bay Meadows
Land Company. The plan is to demolish the track if California
does not approve alternative gaming at racetracks. As part of the deal, Bay Meadows and Hollywood Park joined the Churchill Downs Simulcast Network. Another component was a buyback provision if the track did get slot machines.
The company sold Ellis Park in 2006.
as CHDN. The company is the most profitable track owner in the horse racing industry. The company is not plagued by the losses of other similar companies such as Magna Entertainment Corporation
. The company is widely considered to be looking at acquiring more tracks in the future.
is conducting a limited 2005-2006 meet at Harrah's Louisiana Downs after the facility, located on Gentilly Street in New Orleans, Louisiana
was damaged during and after Hurricane Katrina
. Calder Race Course
in Florida
was damaged during Hurricane Wilma and was closed for several days. Ellis Park was also owned by CDI when it was damaged during a tornado in November 2005.
According to SeeingStars.com, the company is considering purchasing more tracks, especially in Southern California.http://www.seeingstars.com Ellis Park was sold in July 2006, the track grandstand was heavily damaged during a tornado in November 2005. The company is a major partner in the Kentucky Equine Education Project. The Project seeks to inform citizens about their perceived need for alternative gaming at racetracks. The track is also seeking alternative gaming (i.e. slot machines) at the tracks located outside of Kentucky
. In August 2007, CDI parterned with competitor Magna in a proposal bid to take over the New York Racing Association
(NYRA).
Churchill Downs
Churchill Downs, located in Central Avenue in south Louisville, Kentucky, United States, is a Thoroughbred racetrack most famous for hosting the Kentucky Derby annually. It officially opened in 1875, and held the first Kentucky Derby and the first Kentucky Oaks in the same year. Churchill Downs...
. The company owns several other thoroughbred
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word thoroughbred is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed...
and standardbred racetracks.
History
After simulcasting became commonplace in the early 1990s the racetrack decided to expand its holdings and move into the simulcasting industry. Under the leadership of President and CEO, Thomas H. "Tom" Meeker, the racetrack began to buy and build more racetracks. In 1994, Churchill Downs began to expand its holdings with the plans to partner with a new racetrack in IndianaIndiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
. The plan resulted in the purchase of Hoosier Park
Hoosier Park
Hoosier Park is a thoroughbred and standardbred racetrack located in Anderson, Indiana, United States.In 2009, the Horseplayers Association of North America introduced a rating system for 65 Thoroughbred racetracks in North America. Of the top Ten, Hoosier Park was ranked #4.-History:In 1990,...
from businessman Louis Carlo.
In 1998, CDI purchased Ellis Park Racecourse in Henderson, Kentucky
Henderson, Kentucky
Henderson is a city in Henderson County, Kentucky, United States, along the Ohio River in the western part of the state. The population was 27,952 at the 2010 census. It is part of the Evansville Metropolitan Area often referred to as "Kentuckiana", although "Tri-State Area" or "Tri-State" are more...
. In 1999, the company acquired Calder Race Course
Calder Race Course
Calder Casino & Race Course is a casino and horse racetrack in Miami Gardens, Florida in the United States.-History:In the mid-1960s, real estate developer Stephen A. Calder envisioned summertime racing in Florida; in 1965, on the advice of Mr. Calder, the Florida Legislature approved a bill...
and Hollywood Park Racetrack from Hollywood Park Inc.
Pinnacle Entertainment
Pinnacle Entertainment Inc. is a gaming and hospitality company based in the Las Vegas Valley, Nevada that was created in 1938. It owns and operates casinos in the United States and Argentina.- Company names over time :...
In 2000, CDI merged with Arlington Park
Arlington Park
Arlington Park is a horse race track in the Chicago suburb of Arlington Heights, Illinois. Horse racing in the Chicago region has been a popular sport since the early days of the city in the 1830s, and at one time Chicago had more horse racing tracks than any other major metropolitan area...
and the eight OTB's owned by Arlington. In 2004 the Churchill Downs Incorporated finalized the purchase of Fair Grounds Race Course
Fair Grounds Race Course
Fair Grounds Race Course, often known as New Orleans Fair Grounds, is a thoroughbred racetrack and racino in New Orleans, Louisiana. It is operated by Churchill Downs Louisiana Horseracing Company, LLC....
.
In April 2002, Churchill Downs Incorporated established the Green Pastures Program in partnership with the Thoroughbred Retirement Foundation
Thoroughbred Retirement Foundation
The Thoroughbred Retirement Foundation is an American organization founded in 1982, whose mission is stated to be: "To save Thoroughbred horses no longer able to compete on the racetrack from possible neglect, abuse and slaughter."...
, a leading American racehorse rescue and adoption organization.
In 2005, the company announced that it was selling Hollywood Park Racetrack to the Bay Meadows
Bay Meadows
Bay Meadows was a horse racing track in San Mateo, California, in the San Francisco Bay Area in the United States.-History:Built on the site of an old airfield, Bay Meadows Racecourse was the longest continually operating thoroughbred racetrack in California, having been founded on November 13,...
Land Company. The plan is to demolish the track if California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
does not approve alternative gaming at racetracks. As part of the deal, Bay Meadows and Hollywood Park joined the Churchill Downs Simulcast Network. Another component was a buyback provision if the track did get slot machines.
The company sold Ellis Park in 2006.
Economics and stock
Churchill Downs Incorporated is listed on the NASDAQNASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
as CHDN. The company is the most profitable track owner in the horse racing industry. The company is not plagued by the losses of other similar companies such as Magna Entertainment Corporation
Magna Entertainment Corporation
MI Developments Inc. , formerly known as Magna Entertainment Corp., is a gambling and horse racing company in North America with several holdings in Europe and Australia, and is North America's largest thoroughbred racing company, based on revenue and holdings...
. The company is widely considered to be looking at acquiring more tracks in the future.
Holdings
Churchill Downs Incorporated owns the following properties or entities:- Churchill DownsChurchill DownsChurchill Downs, located in Central Avenue in south Louisville, Kentucky, United States, is a Thoroughbred racetrack most famous for hosting the Kentucky Derby annually. It officially opened in 1875, and held the first Kentucky Derby and the first Kentucky Oaks in the same year. Churchill Downs...
- Arlington ParkArlington ParkArlington Park is a horse race track in the Chicago suburb of Arlington Heights, Illinois. Horse racing in the Chicago region has been a popular sport since the early days of the city in the 1830s, and at one time Chicago had more horse racing tracks than any other major metropolitan area...
- Calder Race CourseCalder Race CourseCalder Casino & Race Course is a casino and horse racetrack in Miami Gardens, Florida in the United States.-History:In the mid-1960s, real estate developer Stephen A. Calder envisioned summertime racing in Florida; in 1965, on the advice of Mr. Calder, the Florida Legislature approved a bill...
- Fair Grounds Race CourseFair Grounds Race CourseFair Grounds Race Course, often known as New Orleans Fair Grounds, is a thoroughbred racetrack and racino in New Orleans, Louisiana. It is operated by Churchill Downs Louisiana Horseracing Company, LLC....
- Trackside Off-Track-Betting Facilities
- www.twinspires.com
- Simulcast Rights at Hoosier ParkHoosier ParkHoosier Park is a thoroughbred and standardbred racetrack located in Anderson, Indiana, United States.In 2009, the Horseplayers Association of North America introduced a rating system for 65 Thoroughbred racetracks in North America. Of the top Ten, Hoosier Park was ranked #4.-History:In 1990,...
, Ellis Park, and Hollywood Park Racetrack - 50% of TrackNet
- 50% of Kentucky Off-Track Betting
- 50% of Horse Racing TVHRTVHRTV may refer to:* Horse Racing TV, a digital cable channel dedicated to horse racing* Harvard-Radcliffe Television , a Harvard University student-run television organization...
- 30% Interest in NASRIN
- 5% Interest in Kentucky DownsKentucky DownsKentucky Downs is a Thoroughbred horse racing track located on the border between Kentucky and Tennessee, near the city of Franklin and just off Interstate 65...
Recent performances and the future
CDI President and CEO Thomas H. "Tom" Meeker announced he will retire in 2007 or earlier if a replacement is found. In July 2006, CDI hired Robert L. Evans as CEO and President. Fair Grounds Race CourseFair Grounds Race Course
Fair Grounds Race Course, often known as New Orleans Fair Grounds, is a thoroughbred racetrack and racino in New Orleans, Louisiana. It is operated by Churchill Downs Louisiana Horseracing Company, LLC....
is conducting a limited 2005-2006 meet at Harrah's Louisiana Downs after the facility, located on Gentilly Street in New Orleans, Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
was damaged during and after Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
. Calder Race Course
Calder Race Course
Calder Casino & Race Course is a casino and horse racetrack in Miami Gardens, Florida in the United States.-History:In the mid-1960s, real estate developer Stephen A. Calder envisioned summertime racing in Florida; in 1965, on the advice of Mr. Calder, the Florida Legislature approved a bill...
in Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
was damaged during Hurricane Wilma and was closed for several days. Ellis Park was also owned by CDI when it was damaged during a tornado in November 2005.
According to SeeingStars.com, the company is considering purchasing more tracks, especially in Southern California.http://www.seeingstars.com Ellis Park was sold in July 2006, the track grandstand was heavily damaged during a tornado in November 2005. The company is a major partner in the Kentucky Equine Education Project. The Project seeks to inform citizens about their perceived need for alternative gaming at racetracks. The track is also seeking alternative gaming (i.e. slot machines) at the tracks located outside of Kentucky
Kentucky
The Commonwealth of Kentucky is a state located in the East Central United States of America. As classified by the United States Census Bureau, Kentucky is a Southern state, more specifically in the East South Central region. Kentucky is one of four U.S. states constituted as a commonwealth...
. In August 2007, CDI parterned with competitor Magna in a proposal bid to take over the New York Racing Association
New York Racing Association
The New York Racing Association, Inc. is the not-for-profit corporation that operates the three largest thoroughbred horse-racing tracks in the state of New York. It runs Aqueduct Racetrack in South Ozone Park, Queens, Belmont Park in Elmont, Long Island , and Saratoga Race Course in Saratoga...
(NYRA).