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Carstanjen: Louisville Community ‘Overwhelmingly’ Supports Going Forward With Kentucky Derby

Churchill Downs Inc. chief executive officer Bill Carstanjen appeared on CNBC's “Power Lunch” on Thursday, telling co-anchor Kelly Evans the Kentucky Derby will go on as scheduled Sept. 5, in part because he says the Louisville community “overwhelmingly” supports the event and that it's “an important part of our traditions and culture.”

Protesters, including Pastor Timothy Findley Jr. of the Kingdom Fellowship Christian Life Center in Louisville and leader of the Justice and Freedom Coalition, have called for the Derby to be cancelled this year in the wake of the shooting death of Breonna Taylor. The 26-year-old African-American emergency medical technician was shot in her home by Louisville police executing a no-knock warrant in search of a suspected drug dealer. No one has been charged in her death.

On Aug. 25, protesters marched through Louisville, at one point gathering outside the main gate of Churchill Downs and hanging a “Justice for Breonna Taylor” sign over an entrance sign to the track.

Findley and others have said they plan more demonstrations over the next week in hopes of disrupting or cancelling the Derby..

“With all due respect to the pastor, I think that's not the majority of our community,” said Carstanjen. “The community in general overwhelmingly supports having the Derby. That doesn't mean that we're not sensitive and a part of the dialogue on the social and racial equality issues in our community and in our society.

“Our company's been around for 145 years – this is our 146^th Kentucky Derby,” Carstanjen told Evans. “But the feedback has been overwhelming to us through the community that this should go on. This is an important part of healing, this is an important part of our traditions and culture in our community.”

Evans also asked Carstanjen about the decision to run the Derby without spectators.

“Well, first it was a really, really hard decision and we made it at the last possible minute,” said Carstanjen. “But after a period where we saw some encouraging signs with COVID-19 and Jefferson County where Louisville is located, over the last couple of weeks we saw a real surge. So we've been designated a 'red zone' by the White House, and we're seeing some discouraging signs and we needed to make a decision.

“So it was personally and professionally a really disappointing decision to have to make but without question it was the right thing for us to do. Our priority is keeping our community safe, our fans, our team members, and we got to the point with the numbers being what they were that that was the only responsible decision.”

Watch the Power Lunch segment here.

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New Jersey Budget Proposal Cuts Out Racing Subsidy

A $32.4-billion budget proposal announced Tuesday by New Jersey Governor Phil Murphy does not include a $20-million annual subsidy that has been split between the state’s Thoroughbred and harness industries.

The story was first reported by the website njonlinegambling.com.

The subsidy was signed into law in 2019 as a way to help New Jersey’s struggling tracks, the only tracks in the region that did not benefit from revenues from casinos. The bill called for $100 million in subsidies to be paid out over five years but also had a provision whereby it was subject to an annual review.

“With this funding, New Jersey can continue to offer one of the most exciting horse racing experiences in the nation, while also providing a boost to an industry that is integral to our economy,” Murphy said when signing the original bill.

Murphy’s budget proposal called for deep spending cuts as the state tries to deal with the financial hit it has taken due to the coronavirus. According to reports, the state has taken on an additional $4 billion in debt stemming from the pandemic.

The next step in the process is for the Legislature to draft its own budget bills. A final budget must be passed by Sept. 31. Dennis Drazin, the chairman and CEO of Darby Development, the operators of Monmouth Park, held out hope that the final budget will include the subsidy.

“It’s a little premature for me to say anything,” Drazin said. “The last time around, this wasn’t in the budget address either or in the first budget. We worked very hard with the legislators and ultimately we received it. In my mind, this does not mean the subsidy is dead or it can’t be resurrected. It’s just that it is a process that is going to take some time.”

Prior to the subsidy, Monmouth had been having a difficult time keeping its purses competitive with those in neighboring states and had seen the racing product suffer. The $10-million infusion had a positive impact on racing as it allowed the track to raise purses. The same maiden special weight race that went for $36,000 in 2018 has had a purse of $45,000 this year. The additional money also helped revive the New Jersey Thoroughbred breeding industry, which had all but ground to a halt in the years prior to 2019.

The 2020 subsidy has already been paid out, so the earliest this could impact racing would be next year.

The subsidy has had a similar impact on the harness racing industry. The Meadowlands has enjoyed a revival since the subsidy went into effect and is no longer at a big disadvantage when trying to compete against racing in the slots states like Pennsylvania and New York. Meadowlands owner Jeff Gural said losing the subsidy would be a major blow.

“This could be devastating for our industry,” he said. “It would be just horrible to lose this. In harness racing, it has been a success, especially on the breeding side. All the numbers in New Jersey, the stallions, the mares bred, have gone way up. It accomplished what we said it would accomplish. This is a byproduct of COVID-19. We were not blind sided by this but we were still hoping they would include it in the budget. The good thing is we have until the end of September to get them to change their minds.”

Gural said the decision whether or not to reinstate the bonus would likely fall into the hands of the Legislature and called on those in the Thoroughbred and standardbred industries in the state to reach out to their elected officials.

“It’s not a done deal but it certainly is important that anyone living in New Jersey who has any contacts with the legislature do their part,” he said. “It’s really up to the legislature to restore the money. People have to reach out to them and make the argument that this has been worth the money. The state will lose more without the subsidy than with the subsidy because of all the jobs that will be lost. Tell them how important this subsidy is and how many jobs will be lost if it goes away. It would devastate the industry.”

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Churchill Re-Testing Backside Horsemen, Staff Before Derby; 2.58 Percent Positivity Rate For COVID-19

In advance of Kentucky Derby Week, Churchill Downs Racetrack administered 1,823 tests to its staff, vendors and horsemen from Wednesday, Aug. 19 through Monday, Aug. 24.

Since that time, there have been a total of 47 positive tests from the group for a 2.58% positivity rate.

Testing is on-going at Churchill Downs Racetrack. Any individual that is permitted entrance into the Stable Area will receive a one-time, FDA-approved PCR test. Those who do not pass the test or medical screening will be denied entry onto the premises and asked to isolate and/or quarantine per CDC and Louisville Public Health guidelines.

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Meadowlands-at-Monmouth Meet Added to Racing Schedule for October

A nine-day Meadowlands-at-Monmouth Park meet will be added to the Thoroughbred racing calendar starting on Preakness Day, Saturday, Oct. 3, pending regulatory approval.

Live racing will be held Oct. 3 and 4 at Monmouth Park and then every Wednesday and Saturday for the remainder of the month. There will also be a special Columbus Day holiday program Monday, Oct. 12.

The Meadowlands-at-Monmouth meet will feature a stakes schedule totaling $900,000, highlighted by the GIII Monmouth S. at 1 1/8 miles on the turf Oct. 10.

First race post time throughout October will be 12:50 p.m. Parking and admission are free.

Monmouth Park was originally scheduled for a 56-day meet starting May 2, but had that reduced to 37 days starting July 3 because of COVID-19. An additional live racing program was lost due to inclement weather.

The Monmouth Park meeting ends on Sunday, Sept. 27.

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