Churchill Downs Incorporated Statement on Kentucky Supreme Court Ruling Regarding the Exacta System Used in Historical Horse Racing Machines

LOUISVILLE, Ky., Sept. 24, 2020 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) released today the following statement regarding the Kentucky Supreme Court ruling on the Exacta system used in historical horse racing machines (“HRMs”) in Kentucky. CDI does not use the Exacta system in any of its HRMs in any facility in Kentucky.

We will work within our legal rights and in coordination with Kentucky legislators to ensure the ongoing legal operation of our HRM facilities in Kentucky so that we can continue to provide critical funding for the equine industry and support the citizens in the Commonwealth of Kentucky.

Although CDI does not use the Exacta system in question at any of our HRM facilities, we appreciate Kentucky Governor Andy Beshear’s support of the industry in his statement regarding Historical Horse Racing today:

“Historical Horse Racing is an important part of Kentucky’s economy that supports jobs and contributes over $21 million to the state budget,” Beshear said. “We are working with various partners to find a path forward.”

About Churchill Downs Incorporated

Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event, the Kentucky Derby. We also own and operate two pari-mutual gaming entertainment venues, Derby City Gaming and Oak Grove Racing, Gaming, and Hotel, in Kentucky. Our online wagering business owns and operates TwinSpires.com, the largest and most profitable online horse racing wagering platform in the U.S., and BetAmerica, an online sports betting and iGaming platform in the U.S. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Certain statements made in this news release contain 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 typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” and similar words or similar expressions (or negative versions of such words or expressions).