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Ellis Park Reports Changes

HENDERSON, Kentucky – (PRESS RELEASE) -- Due to a decline in wagering, which was greatly impacted by the recent loss of three days of simulcast wagering revenues from Churchill Downs' Trackside Louisville, Ellis Park officials have announced a five percent reduction in all overnight purses, including all Kentucky Thoroughbred Development Fund ("KTDF") supplements, to take effect on Wednesday, July 28 through the remainder of the 54-day meet that will conclude on Labor Day, Sept, 6.

In addition, the meet's final three stakes events have been cancelled. Those cancelled races include the $75,000 Governor's Handicap, a one mile race for 3-year-olds and up that had been scheduled for Aug. 28; the $100,000 Dade Turf Classic, a 1-1/16 mile race for fillies and mares, 3-year-olds and up scheduled for Sept. 4; and the $100,000 Tri-State Handicap, a 1-1/16 turf race for 3-year-olds and up set for Sept. 6.

"The loss of wagering revenue during the weather-related power outage at Trackside Louisville during the period of July 14 through 16, and soft on-track wagering totals, have prompted this purse reduction," said Ellis Park General Manager Paul Kuerzi. "We have had solid on-track attendance this meet, but the loss of a major wagering source such as the Trackside Louisville for that period is a factor that we will not be able to overcome during this meet. We regret the decision to reduce our purses, but we continue to face increasing competition in our home market and rising competitive pressure for both horses and a share of the simulcast wagering market from tracks with purses boosted by slot machine revenues. Those factors make it increasingly difficult for Ellis Park to absorb an unanticipated setback like the weather-related loss of simulcast revenues from Trackside Louisville."

The Ellis Park meet got underway on July 7. The track has a six-day weekly racing schedule and is "dark" on Tuesday. Daily post time is 12:40 p.m. (CDT), with 10 races scheduled on each day's card.

Ellis Park, located in Henderson, Ky., offers Thoroughbred racing and wholecard simulcasting and is a wholly owned subsidiary of Churchill Downs Incorporated (Nasdaq: CHDN - News). Home of the Grade III Gardenia Stakes, Ellis Park conducts its live race meet from mid-July through Labor Day. Information about Ellis Park can be found on the Internet at http://www.ellisparkracing.com.

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