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Wednesday, October 4, 2023

Churchill Downs Incorporated Announces Construction of HRM Entertainment in East Davis County, Kentucky


Churchill Downs

Churchill Downs

LOUISVILLE, Ky., June 19, 2023 (GLOBE NEWSWIRE) — Churchill Downs Incorporated (“CDI” or the “Company”) (NASDAQ: CHDN ) announced that it has established a Eastern Davis County was awarded a site city limits to build its previously announced Historic Motorsports (“HRM”) entertainment venue as an annex to Ellis Park Racing & Gaming (“Ellis Park”). The new facility will provide financial support for the Ellis Park Jockey Club. The company will provide an update on development and investment plans, as well as the location of the property, in the coming months.

About Churchill Downs

Churchill Downs Incorporated (“CDI”, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI continues to expand through the development of live and historic horse racing entertainment, the growth of TwinSpires horse racing online betting operations, and the operation and development of regional casino gaming assets. www.churchilldownsincorporatelectronicd.com.

This press release contains various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by words such as “expects,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “likely,” “plans,” “forecasts,” “projects” , “seek”, “should”, “will”, “and similar words or similar expressions (or the negative of such words or expressions).

Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Among other things, important factors that could materially affect actual results or results include: the occurrence of unusual events, such as those caused by terrorist attacks, public health threats, civil unrest and severe weather, including climate change; the impact of economic conditions on our consumer confidence and The effects of discretionary spending or credit we receive, including the effects of inflation; additional or increased taxes; the effects of the novel coronavirus (COVID-19) pandemic, including the emergence of mutant strains, and related economic issues on our the impact on our results of operations, financial condition and prospects; lack of confidence in the integrity of our core business or any deterioration in our reputation; loss of key or highly skilled personnel, and general labor market disruption; the impact of significant competition, and Expectations of increased levels of competition; changes in consumer preferences, attendance, betting and sponsorships; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond in a timely manner to rapid technological change; slot machine and historic racing (HRM) manufacturing or other technical conditions that could incur additional costs; failure to enter into or maintain agreements with industry members, including riders and other racetracks; inability to successfully focus on market access and retail operations for our TwinSpires sports and casino business and compete effectively; online security risks, including network security breaches, or loss or misuse of information we store due to breaches; reliance on our technical services and catastrophic events and system failures that disrupt our operations; failure to meet schedule, budget or schedule Identifying and/or completing or fully realizing the benefits of acquisitions, divestitures, development of new venues, or expansion of existing facilities; Difficulty integrating recent or future acquisitions into our operations; Related to development of new venues and expansion of existing facilities cost overruns and other uncertainties; general risks associated with real property ownership and significant expenditures, including risks associated with environmental liability; personal injury litigation in connection with injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or other similar laws and regulations, or applicable anti-money laundering regulations; risks associated with payments, such as those associated with fraudulent credit or debit card use; lockouts and labor issues; risks associated with pending or future legal proceedings and other actions; heightened Regulated operations and changes in the regulatory environment could adversely affect our business; restrictions on our debt financing that limit our flexibility in operating our business; failure to comply with financial ratios and other covenants on our debt financing and other obligations; interest rates rise (due to inflation or otherwise), credit market disruptions or changes in our credit ratings that could adversely affect our business; increases in our insurance costs, or inability to obtain similar coverage in the future, and in the event of severe weather and casualty event, damage to our property not recoverable under our policies; and other factors described under the heading “Risk Factors” in our most recent Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission.

We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Investor Contact: Philip Forbis

Media Contact: Tonya Abeln

(502) 394-1094

(502) 386-1742




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