Churchill Downs joins Empire Racing

Churchill joins group vying to run N.Y. tracks

The Courier-Journal



Churchill Downs Inc. has joined a New York-based group vying to operate the state’s three thoroughbred racetracks, including Belmont Park, home of the Triple Crown’s Belmont Stakes.

Churchill announced on Wednesday that it is aligning with Empire Racing, which plans to bid for the tracks operated by the New York Racing Association, or NYRA. Magna Entertainment, which owns Pimlico Race Course in Baltimore, also is joining Empire Racing.

NYRA’s exclusive franchise agreement for the tracks - Belmont, Saratoga Race Course and Aqueduct - expires next year. It’s a sought-after market, with nearly $2.6 billion wagered on NYRA races last year.

“By joining the Empire team, we have the opportunity to bring greater consistency to the quality and integrity of racing across the United States, to better market racing to new fans throughout the year and to take U.S. racing into the global market in a powerful way,” Robert Evans, Churchill’s President and CEO, said in a statement.

As part of the agreement, Churchill Downs and Magna Entertainment will each receive one seat on Empire Racing’s 15-member board.

[sumitas]

wow, this has to put Empire Racing in a solid position.

LOL!! Solid? Thats pretty funny. Shoot they could team up with a few more folks and there is no way that they are gonna be able to match cash with Steinbrenner, MGM, Or Steve Wynn. Steve Wynn has more money in his sock and underwear drawer than Empire/Cd/Magna has. WHy do you think all of a sudden they are all teaming up. Do you really think they can match a bid by Wynn or MGM or Steinbrenner? Dream on. Those guys have solid balance sheets with cash on hand. Its between those three and whoever wants it most will get it.

[cal828]

Any thoughts on who might do the better job? Wynn, probably deservedly
gets the credit for the resurgence of Las Vegas, but does he know anything about horseracing and will horseracing be his primary focus or is he just trying to get his foot in the door for a casino(racino) in the biggest market in America?