Thoroughbred Horsemen's Group and Other Defendants Enter Into Consent Judgement to Settle Dispute With Churchill Downs Incorporated
In April 2008, CDI filed a complaint in federal court alleging the THG Defendants conspired to fix prices paid by wagering outlets to access horse races for pari-mutuel wagering purposes, and to orchestrate a joint boycott carried out by organizations representing the owners and trainers of Thoroughbred horses in several states in violation of Section 1 of the Sherman Antitrust Act. The federal court subsequently ruled that the complaint, as amended, stated a valid claim upon which relief could be granted against the THG Defendants under said Act.
On April 26, 2010, the federal court entered a Consent Judgment based upon a joint motion filed by CDI and the THG Defendants, in which the THG Defendants have agreed to restrict and modify their behavior regarding their involvement in the signal negotiations among host racing associations, off-track-betting ("OTB") establishments or advance deposit wagering ("ADW") operators, and have agreed to specified minimum damages should they violate the Consent Judgment.
"We are confident that this Consent Judgment will protect CDI's interests going forward by prohibiting anticompetitive behavior by the THG Defendants and by establishing minimum damages should future violations occur," said Rebecca Reed, CDI Senior Counsel.
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 Racetrack in Kentucky and Fair Grounds Race Course & Slots in Louisiana. CDI operates slots 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's Entertainment Group produces the HullabaLOU Music Festival at Churchill Downs Racetrack, which premieres on July 23-25, 2010. CDI trades on the NASDAQ Global Select Market under the symbol CHDN and can be found at www.ChurchillDownsIncorporated.com
Contact: Liz Harris
Vice President, Communications
Phone: 502-636-4474
Liz@kyderby.com