NEW ORLEANS, Dec. 31, 2010 (GLOBE NEWSWIRE) -- Fair Grounds Race Course & Slots announced today a five-percent increase of overnight purses, effective Thursday (Jan. 6).

"Bettors have responded to the consistently high quality of racing at Fair Grounds," track Vice President & General Manager Eric Halstrom said. "It's always gratifying when we can offer more money to the horsemen that provide our large and competitive fields."

Thursday will mark Day 29 of Fair Grounds' 84-day Thoroughbred Racing Season. Live racing is conducted Thursdays to Mondays through the end of February before shifting to Fridays to Mondays (plus Mardi Gras Day) in March.

About Fair Grounds Race Course & Slots

Fair Grounds Race Course & Slots, the nation's third-oldest racetrack, has been in operation since 1872. Located in New Orleans, Fair Grounds is owned by Churchill Downs Incorporated (Nasdaq:CHDN); it also operates a slot-machine gaming facility and 10 off-track betting parlors throughout southeast Louisiana. The 139th Thoroughbred Racing Season will run Nov. 25, 2010-March 27, 2011, highlighted by the 98th Grade II Louisiana Derby on March 26. Information about Fair Grounds can be found online at www.FairGroundsRaceCourse.com.

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CONTACT:  Fair Grounds Race Course & Slots

          Jim Mulvihill, Communications and Pari-Mutuel Marketing

           Manager

          504.948.1233

          james.mulvihill@fgno.com