Churchill Downs Update
June 16, 2010
Purses on the rise, but still considering slot machines
It has been an exciting week at Churchill Downs with disco music and dancing, the thrills of the races, and two big announcements. It's not only exciting, but a success!
Darren Rogers, Spokesperson Churchill Downs, said “It really was a big week. It started with success of Derby and Oaks, increased waging and attendance levels up from a year ago.”
As a result, Churchill Downs announced a 10% purse increase, which will cover the horseman for the first few weeks of the meet. However, in an industry that some say is struggling, Churchill Downs says they're chugging along day to day.
Downs After Dark, the Breeder's Cup, and concert series, Hullabalou, all bring a lot of positive attention to Churchill, but the track still needs supplemental revenue. Churchill Downs officials say those are short-term things to help them stay afloat in a competitive horse industry, so slot machines aren't off the table.
Vice President of Churchill Downs, John Asher, says slots at the racetracks are still a relevant topic. He argues it would make Churchill competitive with other tracks, which lure horse owners and trainers away from Louisville with big race purses. Still, legislators haven't approved slots yet, and whether it will happen at all remains to be seen.
While Churchill and others in the horse industry push legislators to consider slots, the track is doing its part to generate revenue and stay afloat. A few years ago Churchill management declared a challenge to come up with ways to redefine Churchill Downs; to transform it from a race track, to a racing and entertainment venue. Indeed the track spent $121 million to expand and hopefully generate revenue, but at the end of the day, Churchill's business is horse racing.
The next Downs After Dark is Friday, June 18th, and the event has a beach theme. There are 3 night racing dates left in the spring meet, and there will be two during the fall meet. General admission is $10, and reserved seating is $20. |
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