Bon Jovi, Kenny Chesney and Dave Matthews Band Headline July 23-25, 2010, Event That Will Showcase More Than 65 Bands

LOUISVILLE, Ky. (Monday, Nov. 30, 2009) – Churchill Downs Incorporated, (“CDI”), (NASDAQ: CHDN) and its new wholly owned subsidiary, Churchill Downs Entertainment Group, (“CDE”), today unveiled a significant three-day summer music festival that will showcase more than 65 bands, including the Grammy Award-winning Bon Jovi, country music phenomenon and 8 Time Entertainer of the Year Kenny Chesney, and Grammy Award-winning Dave Matthews Band, at the world-famous home of the Kentucky Derby on July 23-25, 2010.

Designed to be an annual event, the “HullabaLOU Music Festival” will feature a wide range of artists that blend the sounds of classic rock, country, adult contemporary and bluegrass on five stages throughout the sprawling 147-acre facility.

“CDE plans to introduce a variety of live entertainment concepts that provide exciting and innovative entertainment options for our customers and that fit with our management team’s core competencies, including the operation and monetization of large-scale, live events,” CDE President Steve Sexton said. “Our first major project is the HullabaLOU Music Festival, which will be a great springboard for CDE-branded entertainment. With Bon Jovi, Kenny Chesney, and Dave Matthews Band as headliners, we have an extraordinary lineup of musical artists who will be performing against the backdrop of the iconic Twin Spires at Churchill Downs. We believe that fantastic combination will offer a one-of-a-kind experience for music fans, and we anticipate that the HullabaLOU Music Festival will become the premier music festival in this region, and an important summer destination for music lovers for years to come.”

Other musical acts scheduled to appear include Zac Brown Band, Steve Miller Band, Gladys Knight, Jason Aldean, The Doobie Brothers, Al Green, Dwight Yoakam, Michael McDonald, Loretta Lynn, Colbie Caillat, Steppenwolf, The Black Crowes, Kansas, B52s, Gloriana, 38 Special, The O’Jays, War, Richard Marx, Gov’t Mule, Joan Osborne, Musiq Soulchild, Taj Mahal, Sam Bush, Chrisette Michele and many more. A complete list of confirmed performers is available online at the event Website, www.hullabaloufest.com.

“The performers scheduled to appear at HullabaLOU will instantly put the event on the map of major music festivals in the country, and be one of the top festival entertainment options in 2010,” said Quint Davis, Producer/Director of the world-famous Jazz Fest in New Orleans and consulting producer of HullabaLOU.

Ticket packages, which range from $60 for a one-day general admission pass to $975 for a three-day VIP package, will go on sale Friday, Dec. 4, at noon and can be purchased online at www.hullabaloufest.com and www.ticketmaster.com and at all Ticketmaster outlets, including select Kroger locations, or by calling (800) 745-3000.

HullabaLOU, which could have an estimated economic impact of $38 million to the Greater Louisville, Ky. area, is positioned almost three months after the 136th running of the Kentucky Derby on Saturday, May 1, and some three weeks after the conclusion of Churchill Downs’ 42-day Spring Meet on Sunday, July 4.

Out of town HullabaLOU guests can secure hotel accommodations by visiting www.hullabaloufest.com and clicking the “Travel Information” icon.

High profile concerts are nothing new to Churchill Downs. In 2006, the Rolling Stones played under the Twin Spires followed by The Police in 2007.

Churchill Downs Entertainment Group, (“CDE”), is a wholly owned subsidiary of Churchill Downs Incorporated, (“CDI”), located in Louisville, Ky., that was formed to conceive, develop, produce and manage large-scale entertainment events at CDI and non-CDI properties. The immediate success of headline concerts by the Rolling Stones (2006) and The Police (2007) at the historic home of the Kentucky Derby led to the creation of CDE. More information about CDE is available at www.cdentertainment.com.

Churchill Downs Incorporated, (“CDI”), headquartered in Louisville, Ky., owns and operates four world renowned Thoroughbred racing facilities: Arlington Park in Illinois, Calder Casino and Race Course in Florida, Churchill Downs Race Track in Kentucky and Fair Grounds Race Course in Louisiana. CDI operates slot and gaming operations in Louisiana and Florida. CDI tracks are host to North America’s most prestigious races, including the Arlington Million, the Kentucky Derby and the Kentucky Oaks, the Louisiana Derby and the Princess Rooney, along with hosting the Breeders’ Cup World Championships for a record seventh time on Nov. 5-6, 2010. CDI also owns off-track betting facilities, TwinSpires.com and other advance-deposit wagering channels, television production, telecommunications and racing service companies such as BRIS and a 50-percent interest in the national cable and satellite network, HorseRacing TV, which supports CDI’s network of simulcasting and racing operations. CDI trades on the NASDAQ Global Select Market under the symbol CHDN and can be found at www.churchilldownsincorporated.com