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Ellis Park to Reduce Overnight Purses

HENDERSON, Kentucky -- (PRESS RELEASE) -- Lower than expected business levels - attributed in part to weather conditions and intensified competition for horses - have prompted Ellis Park to reduce overnight purses for the remainder of the race meet that continues through Sept. 5.

Purses for overnight races will be reduced by 15 percent, beginning with the races scheduled for Wednesday, Aug. 10. Entries for those races will be taken on Saturday, Aug. 6.

In addition, purses for the last two races on the racetrack's 2005 stakes schedule have been reduced. The purses for the Governor's Handicap on Aug. 27 and the Tri-State Handicap on Sept. 5 are now set at $50,000, down from their original value of $75,000.

Ellis Park Vice President and General Manager Paul Kuerzi cited the size of race fields as a significant factor in the early business levels of the meet, which opened on July 13. The track's races are averaging just over 8.4 horses, which is better than last year's average but more than one horse per race below what track officials had anticipated for the 2005 meet. Ellis Park moved back to its traditional five-day race weeks this year after the six-day race weeks of 2004 contributed to significant declines in runners per race.

"The decision to reduce purses for the remaining weeks of the Ellis Park meet is disappointing, but it was a move that had to be made in light of business levels," said Kuerzi. "Our on-track attendance has been solid and we appreciate the continued support of our loyal racing fans throughout the Tri-State. But weather conditions - which have ranged from torrential rain to oppressive heat - have provided unexpected challenges to our efforts to offer large and competitive fields of horses to our fans. Our daily racing operation continues to face ever-growing pressure in the competition for horses with racetracks in other states that offer larger purses boosted by slot machine revenues. We hope to get a break in the weather in the final weeks of our meet, but the competition for horses remains a long-term concern."

Ellis Park, located in Henderson, Ky., offers Thoroughbred racing and wholecard simulcasting and is a wholly owned subsidiary of Churchill Downs Incorporated (Nasdaq: CHDN). Home of the Grade III Gardenia Stakes on "Big Four Stakes Saturday," Ellis Park conducts its live race meet from mid-July through Labor Day.

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