Gaming News

Churchill Downs completes Hoosier Park sale

LOUISVILLE, Kentucky – (PRESS RELEASE) -- Churchill Downs Incorporated (NASDAQ: CHDN) today announced that it has completed the sale of the Company's remaining 62-percent ownership interest in Hoosier Park LP to Centaur, a privately held, Indiana-based company. Terms of the sale were not disclosed.

Hoosier Park LP ("Hoosier Park") owns and operates the Anderson, Ind., racetrack and its Indiana off-track betting ("OTB") parlors located in Merrillville and Fort Wayne. Hoosier Park also operates an OTB parlor in Indianapolis. Centaur has owned 38 percent of Hoosier Park since December 2001 and has held options to purchase a greater stake in the track and its OTBs.

Per terms of the sale, Centaur will assume management responsibility for Hoosier Park and its off-track betting network. The transaction was approved by the Indiana Horse Racing Commission on Feb. 27, and by the City of Anderson Department of Parks and Recreation on Feb. 20.

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