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Investor FAQs

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How can I receive information about the Company?

Please call our investor services staff at (502) 638-3896 or send your request to:

Investor Services
Churchill Downs Incorporated
Attn: Mike Anderson
700 Central Ave.
Louisville, KY 40208
(502) 636-4492 (phone)
(502) 636-4560 (fax)
investors@kyderby.com

How do I buy Churchill Downs Incorporated stock?

If you decide to purchase stock in Churchill Downs Incorporated, you may do so through a broker. We are traded on the NASDAQ Global Select Market under the symbol CHDN.

Can I purchase stock directly from the Company?

Churchill Downs Incorporated does not offer a direct-purchase plan. You may buy our stock through a broker.

Do you offer a dividend-reinvestment plan?

Not at this time.

How do I qualify for the Company's Shareholder Pass Program?

To be eligible to receive shareholder passes, you must own at least 100 shares of CHDN stock on Dec. 31 of each year. During the following first quarter of the year, we send two passes per household to our eligible shareholders of record. The passes allow free general admission at all our racing and off-track betting facilities. They are valid for an unlimited number of visits during the year as well as general admission for the Kentucky Oaks and the Kentucky Derby at Churchill Downs. Reserved seating is not available with the passes, and shareholder passes do not guarantee standing-room only access to reserved seating areas.

Churchill Downs Incorporated shareholder passes are no longer valid for general admission at Ellis Park, Hollywood Park or Hoosier Park, as the Company no longer owns or operates those facilities.

Churchill Downs Incorporated, at its discretion, may change or end the shareholder pass program at any time.

My broker holds my stock certificate. Can I still receive passes?

Certainly. In that case, we ask that you send us a copy of your regular statement or a letter on the broker's stationery that verifies that you own CHDN stock. Please send this documentation along with your home address to:

Shareholder Passes
c/o Investor Services
Churchill Downs Incorporated
700 Central Ave.
Louisville, KY 40208

When will Churchill Downs Incorporated next report quarterly results?

Click here for our investor calendar, including the schedule for our quarterly results, as it is determined.

Do you have quarterly conference calls?

Yes, we do. We typically webcast the audio from our conference calls and link it to our corporate Web site at www.churchilldownsincorporated.com.

I own stock in Pinnacle Entertainment Inc., formerly Hollywood Park Inc. Does that mean that I now own CHDN stock?

No, you still own stock in Pinnacle Entertainment. In September 1999, Churchill Downs Incorporated purchased the assets of Hollywood Park, the racetrack, and Hollywood Park Casino from Hollywood Park Inc., as the company was then known. We did not purchase the company, so your ownership in Pinnacle Entertainment remains intact. If you have questions about your stock in Pinnacle Entertainment, please contact its shareholder relations office at 702-784-7777.

Churchill Downs Incorporated subsequently sold Hollywood Park and its surrounding acreage to a subsidiary of Bay Meadows Land Company in September 2005.

How can I make changes to my stock registration?

To change your address, transfer ownership to another party, inquire about dividend payments or report a lost certificate, you should contact our transfer agent, American Stock Transfer and Trust Company, LLC. The toll-free customer service number is (800) 937-5449. The e-mail address is info@amstock.com or visit www.amstock.com.

For standard postal mail delivery, the address is:

American Stock Transfer and Trust Company, LLC
59 Maiden Lane
Plaza Level
New York, New York 10038

For items delivered by certified or registered mail, UPS, Fed Ex, etc, the delivery address is:

American Stock Transfer and Trust Company, LLC
Operations Center
6201 15th Avenue
Brooklyn, New York 11219

Are you considering a stock repurchase program?

Such a decision would be made by our board of directors, but the opportunity to use cash flow from operations to repay our debt is a highly desirable alternative to a repurchase program.

Do you offer dividends?

In recent years, our board typically has voted to issue an annual dividend payable in January. Traditionally, our shareholders have received a 50-cent per share regular dividend. This history, however, does not guarantee the continuance amount or frequency of dividends in the future.

Why did the board discontinue the practice of paying a special cash dividend in addition to the regular annual dividend?

One key consideration was the board's belief that having a portion of the dividend considered "special" suggested some lack of confidence in the current level of earnings. Obviously, future dividends will depend on Churchill Downs Incorporated's future performance, but we hope that our record will enable the board to consider providing stockholders with an increasing cash return on their investment.

Would the board consider paying cash dividends on a quarterly basis?

Depending on our success in smoothing the quarterly seasonality in our business, the board may find that a quarterly payout is a reasonable action to consider.

What stock splits have you recorded?

On Aug. 1, 1991, our stock split 10-for-1, and on March 30, 1998, we had a split of 2-for-1.

Why not list Churchill Downs Incorporated shares on the New York Stock Exchange?

In 1999, we qualified for listing on the National Market section of the NASDAQ. In July 2006, Churchill Downs Incorporated was upgraded to NASDAQ's Global Select Market. We believe it is prudent to evaluate how this listing works in terms of spread and volume before considering a possible move to the NYSE.

To what do you attribute the current market price of Churchill Downs Incorporated stock?

Management's role is to concentrate on developing and implementing business plans that create value in the Company, and we hope that the market will respond in a favorable manner. Beyond that, we cannot speculate on what causes the market to react or stock prices to vary.

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