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Churchill Downs, Magna Entertainment Team to Simulcast Racing Product in Europe

LOUISVILLE, Kentucky -- (PRESS RELEASE) -- Churchill Downs Incorporated (Nasdaq:CHDN) and Magna Entertainment Corp. (Nasdaq:MECA) today announced an international simulcast distribution agreement that will deliver the two operators' racing product to the European market.

Racing content from 18 of the companies' North American operations will be combined and presented for export through MEC's Austrian subsidiary, MEC Sport und Entertainment GmbH, to outlets in Great Britain, Ireland, Austria and Germany. The partnership will bring to the European market a robust offering of high-quality racing featuring more than 230 graded stakes events from such top United States racetracks as Arlington Park, Churchill Downs, Fair Grounds Race Course, Gulfstream Park, Hollywood Park, Lone Star Park, the Maryland Jockey Club and Santa Anita Park.

"By combining our racing content into one offering, we believe we have created a North American simulcast product with a level of quality and scale never before presented to European race fans," said Thomas H. Meeker, president and chief executive officer of CDI. "This is an important first step in our efforts to work in tandem to penetrate the international market."

Jim McAlpine, president and chief executive officer of MEC, added, "We have repeatedly expressed our desire to work with others in our industry to grow U.S. horse racing's share of the international sports and gaming markets.

This partnership is a major step toward achieving such a goal. While we don't anticipate a material financial impact in the immediate future, we do expect European race fans to welcome a product that will feature such world-class events as the Kentucky Derby, Preakness Stakes, Arlington Million, Florida Derby, Hollywood Gold Cup, Louisiana Derby and Santa Anita Derby."

Churchill Downs Incorporated, headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. The Company's seven racetracks in California, Florida, Illinois, Indiana, Kentucky and Louisiana host 122 graded-stakes events and many of North America's most prestigious races, including the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and Arlington Million. CDI racetracks have hosted nine Breeders' Cup World Thoroughbred Championships - more than any other North American racing company. CDI also owns off-track betting facilities and has interests in various television production, telecommunications and racing services companies that support CDI's network of simulcasting and racing operations. CDI trades on the Nasdaq National Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.

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