Churchill Down Sees Mixed Results

29 November 2004

LOUISVILLE, Kentucky -- (PRESS RELEASE) -- Despite racing in a month with near-record rainfall, a facility still limited by construction, and uncertainty over the absence of some of the track's best-known jockeys after only one week of the meet, Churchill Downs saw increases in on-track attendance and wagering while total wagering registered a slight decline from a record total as the historic track's "Fall Festival Of Racing" completed its 21-day run on Saturday, Nov. 27.

Since the meet consisted of six fewer racing days than last year's 27-day fall session, results of the two meets are compared through daily averages in attendance and wagering. On-track wagering and attendance figures for the "Fall Festival Of Racing" reflect the combined results from Churchill Downs and its Trackside Louisville satellite wagering facility, which remained open throughout the fall meet because of the continuing $121 million renovation at the historic racetrack.

With portions of three floors of the track's renovated Clubhouse open for the first time, daily on-track attendance during the 21-day session averaged 7,467, an increase of nearly 11 percent from the 2003 average of 6,755. On-track wagering averaged $1,098,931 per day, a gain of more than eight percent over the daily average of $1,015,696 during last year's fall meet.

The daily average for total wagering on "Fall Festival" races at Churchill Downs -- which includes on-track and simulcast betting -- topped the $7 million mark for just the second time in track history. Average daily total wagering stood at $7,791,943, a decline of just over two percent from the record 2003 average of $7,995,677. Continued strong distribution of Churchill Downs racing through the Churchill Downs Simulcast Network ("CDSN") and the popularity of the track's large and competitive fields of horses allowed the track to nearly equal the record-shattering Fall Meet of 2003, which saw its daily average for total wagering soar by nearly 18 percent.

The "Fall Festival of Racing" marked the final time that Trackside Louisville simulcast facility would remain open throughout a Churchill Downs meet. Trackside remained open during the track's two previous meets because of the ongoing construction at Churchill Downs, but the availability of those new facilities during the fall meet prompted many patrons to return to the historic track.

Daily attendance at Churchill Downs averaged 6,500 (87.1 percent of total) while an average of 967 (12.9 percent) viewed the meet's races at Trackside. Of the average daily on-track betting total, $850,127 (77.4 percent) was wagered at Churchill Downs, while an average of $248,804 (22.6 percent) was wagered at Trackside. About 81 percent of the average daily attendance and 69 percent of average daily wagering was recorded at Churchill Downs in the 2003 Fall Meet.

Churchill Downs races averaged 9.82 betting interests, an increase of nearly two percent from the 9.66 average in the Fall Meet of 2003. The increase was achieved despite the loss of several turf races that were transferred to the main track because of rainy weather in a month of November that ranked as one of the wettest in the history of the region.

Along with weather and construction challenges that faced Churchill Downs during the "Fall Festival Of Racing," the track also dealt with the absence of some of its most prominent jockeys a week into the meet. Those riders refused to accept mounts on Sunday, Nov. 7 for races on Wednesday, Nov. 10 as part of a protest over insurance coverage and were excluded from the track for the rest of the meet when they refused to make a commitment to ride through the remainder of the meet.

"The 'Fall Festival Of Racing' at Churchill Downs was a success on many levels and we salute our fans, our horsemen, our jockeys and our staff for their support and hard work," said Steve Sexton, president of Churchill Downs. "We faced several challenges during this meet -- many expected, but some unexpected -- and everyone pulled together to ensure that this anticipated racing meet would live up to the high expectations of local fans and patrons at simulcast centers across North America.

"The meet was also important because it provided our on-track patrons with a real view of the future of Churchill Downs. They loved our new facilities in the Clubhouse -- especially the new Food Court and our simulcast teletheatre -- and the popularity of our Jockey Club Suites and their spectacular guest service continued to grow in our third meet since those areas were introduced. The results of the meet show that fans continue to love our high-quality racing product and the experience of a day at Churchill Downs, and they are anxiously looking forward to next spring, when our renovation is complete and a new era dawns at the home of the Kentucky Derby."

Although Churchill Downs' $121 million renovation is not scheduled for completion until early April 2005, the track utilized its new exterior box seats on the 1st and 3rd floors of its rebuilt Clubhouse and a 2nd floor that included a new Food Court, a simulcast wagering teletheatre and two lounges: "Silks" and "Champions" (smoking allowed). Those new facilities were in addition to the three floors of Jockey Club Suites and related facilities, including more than 20 suites that were available for daily rental, created in Phase I of the renovation and in use since the Fall Meet of 2003.

The "Fall Festival Of Racing" also saw the return of Gate 10, the popular track entrance off of its free parking lot on Longfield Avenue. Fans were able to gain access to all areas of Churchill Downs through that gate, which had been closed because of construction in the fall of 2003 and this year's Spring Meet, and Gate 1 off Central Avenue, which had been the lone point of admission during those meets. Because of the availability of Gate 10, Churchill Downs was able to eliminate shuttle buses that had been used to transport patrons from the Longfield lot to Gate 1 in the two previous meets.

Average daily race purses for the meet surged to $495,788, an increase of 17 percent from the 2003 fall average of $424,017. Purses for the meet totaled $10,411,550.