Churchill Downs Inc.
| Public | |
| Traded as |
NASDAQ: CHDN S&P 400 Component |
| Industry | Online gaming, gaming, entertainment and racing |
| Headquarters | Louisville, Kentucky, U.S. |
|
Key people
|
CEO, William C. Carstanjen |
|
Number of employees
|
4,500 |
| Subsidiaries | Big Fish Games |
| Website | churchilldownsincorporated |
Churchill Downs Incorporated is the parent company of Churchill Downs. The company has evolved from one racetrack in Louisville, Kentucky to a multi US-state, publicly traded company with racetracks, casinos and the United States' leading online wagering company among its growing portfolio of successful businesses.
Churchill Downs Incorporated began with the opening of one legendary racetrack in Louisville, Kentucky, in 1875. While traveling in England and France in 1872–1873, 26-year-old Col. M. Lewis Clark, devised the idea of a Louisville Jockey Club for conducting race meets. Clark toured and visited with a number of prominent racing leaders, including England's Admiral Rous and France's Vicompte Darn, vice president of the French Jockey Club.
Upon his return from Europe, Clark began development of his racetrack which would serve to showcase the Kentucky breeding industry. The track would eventually become known as Churchill Downs.
The track formally opened May 17, 1875 with four races scheduled including the day's featured race, the Kentucky Derby. Throughout the early 1900s, Churchill Downs joined with other tracks to create the Kentucky Jockey Club. With five tracks the Club decided to dissolve in December 1927 with the purpose of re-organizing. In January 1928 the American Turf Association served as the new holding company for Churchill Downs and 6 other tracks.
From 1929 through 1942 the holding company started to reduce the number of tracks. By 1937 there were only three tracks left. In January 1937, Churchill Downs joined with Latonia in Northern Kentucky to create Churchill Downs-Latonia Incorporated. In 1942, Churchill Downs separated from Latonia and officially changed its name to Churchill Downs Incorporated.
After simulcasting became commonplace in the early 1990s the racetrack decided to expand its holdings and move into the simulcasting industry.
In 1991, Churchill Downs bought the struggling Louisville Downs harness track, which was closed and converted to a satellite wagering and training facility.
In 1994, Churchill Downs began to expand its holdings with the plans to partner with a new racetrack in Indiana. The plan resulted in the purchase of Hoosier Park from businessman Louis Carlo.
In 1998, CDI purchased Ellis Park Racecourse in Henderson, Kentucky. In 1999, the company acquired Calder Race Course and Hollywood Park Racetrack from Pinnacle Entertainment In 2000, CDI merged with Arlington Park and the eight OTB's owned by Arlington. In 2004 the Churchill Downs Incorporated finalized the purchase of Fair Grounds Race Course.
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Wikipedia