Churchill Downs Incorporated CEO Robert Evans Expresses Disappointment Over Lack of Progress on Casino Legislation
Churchill Downs Incorporated (NASDAQ: CHDN) President and Chief Executive Officer Robert L. Evans today expressed disappointment over news that legislation authorizing a statewide vote on casino gaming in Kentucky would not be voted on by the full Kentucky House or advance to the Senate during the current legislative session.
“The choices we make today determine our future, and the failure to pass casino legislation for racetracks puts Kentucky racing at a significant, competitive disadvantage,” Evans said. “Casino-style gaming already supports higher purses and racetrack operations in Delaware, Florida, Indiana, Iowa, Louisiana, Maine, New Mexico, New York, Oklahoma, Pennsylvania, Rhode Island and West Virginia. Other states are considering such legislation to support racetracks in their jurisdictions. We watch our fellow Kentuckians cross our borders on a daily basis to enjoy casinos in Indiana, Illinois and West Virginia where the money they spend on entertainment benefits the health care, education and transportation systems in those states. And increasingly those of us in the racing business watch horsemen take their stables across state lines to compete for higher purses driven by casino gaming at other racetracks. Kentucky is today the center of the Thoroughbred racing world, responsible for more than 100,000 jobs and $4 billion in annual economic impact. Whether Kentucky remains the leader in Thoroughbred racing in the future depends on the choices we make today.
“We appreciate the efforts of those lawmakers who both understand the issues clearly and who worked diligently to try to make this happen. We hope we can count on their support when this matter again comes before the Kentucky Legislature.”
Churchill Downs Incorporated (“Churchill Downs”), headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. Churchill Downs’ four racetracks in Florida, Illinois, Kentucky and Louisiana host many of North America’s most prestigious races, including the Kentucky Derby and Kentucky Oaks, Arlington Million, Princess Rooney Handicap and Louisiana Derby. Churchill Downs racetracks have hosted seven Breeders’ Cup World Championships. Churchill Downs also owns off-track betting facilities and has interests in various advance-deposit wagering, television production, telecommunications and racing services companies, including a 50-percent interest in the national cable and satellite network HorseRacing TV™, that support the Company’s network of simulcasting and racing operations. Churchill Downs trades on the NASDAQ Global Select Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.