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CDI Signs Agreement to Buy Ellis Park

Churchill Downs Incorporated announced that it has signed a definitive agreement to acquire Ellis Park Racing & Gaming in Henderson, Kentucky, from Enchantment Holdings, LLC, an affiliate of Laguna Development Corporation, for total consideration of $79 million in cash, subject to certain working capital and other purchase price adjustments. CDI will also assume Ellis Park's opportunity to construct a track extension facility in Owensboro, Kentucky.

“This is an exciting announcement for the horse racing industry, the cities of Henderson and Owensboro, and the entire Commonwealth of Kentucky,” said Kentucky Governor Andy Beshear. “Churchill Downs has proven it has the experience, resources, and desire to reinvigorate Ellis Park into a premier racing destination and provide unmatched gaming entertainment.”

Ellis Park, located north of the Ohio River and just south of Evansville, Indiana, also features a gaming facility venue with approximately 300 historical racing machines.

“We are very enthused to welcome Ellis Park to the Churchill Downs racing family,” said Bill Carstanjen, Chief Executive Officer of CDI. “Our team is committed to building a summer meet at the 'Pea Patch' that keeps more Kentucky-bred horses and Kentucky-based trainers' in their home state while attracting top horse racing talent from across the country to the Bluegrass State each July and August.”

The closing of the transaction is contingent upon approval by the Kentucky Horse Racing Commission. If change of control is approved, the parties expect to close the transaction shortly thereafter.

CDI has commenced planning to make both critical investments in the Ellis Park racing infrastructure and to construct Owensboro Racing & Gaming, a track extension and entertainment venue at Owensboro's Towne Square Mall that will feature 600 HRMs, a simulcast wagering center, and multiple food and beverage offerings. Over the next year, CDI expects its total investment in Henderson and Daviess Counties to be approximately $75 million in addition to the purchase price.

“The opportunity to bring Churchill Downs to Owensboro is particularly significant to us,” said Jason Sauer, Senior Vice President of Corporate Development for CDI, “We are eager to start the work to elevate Ellis Park's reputation as a summer destination for Thoroughbred racing while delivering a premier gaming and entertainment experience to Daviess County. We look forward to sharing more exciting details about our plans in the coming days.”

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SoCal Dates Set; Cal Expo Could Race Nights in ’23

The California Horse Racing Board (CHRB) on Thursday approved a 2023 schedule for the Southern California circuit that largely mirrors this year's version.

A final vote on the Northern California schedule was put off until the CHRB's October meeting.

But one new idea floated for the NorCal circuit during the Sep. 15 meeting could involve the Cal Expo state fair meet running either twilight or night programs next year.

Concerns over dangerously high temperatures during July, when Cal Expo is expected to receive its three-week block of dates, were cited by CHRB vice chair Oscar Gonzales as a reason for moving away from afternoon first posts.

The Sacramento track is already equipped with lights for the harness meet that it conducts in other parts of the year.

“We are prepared to help the industry, as we have in the past,” said Rick Pickering, the chief executive officer and general manager for the California Exposition and State Fair, adding that Thursday was the first time any NorCal stakeholders or CHRB members have approached him about running under the lights.

“The top priority for us is the safety of the people, the jockeys, the racing individuals, and the safety of the horses. If that's what it takes to have the best possible safe meet, let's take a look at that and see what it takes to make it actually happen,” Pickering said.

Pickering said that there are no evening concerts that use the horse racing grandstand during the fair, and although fireworks shows are sometimes scheduled, they begin at 10 p.m., presumably after racing would be finished for the night.

“Heat is something we're paying attention to. And if that's what we need to do to keep the animals and the people safe, your state fair wants to be cutting edge. We don't want to be, 'We thought about it after the fact.'”

The CHRB annually awards its race dates weekly blocks that determine simulcasting privileges. An issue that arose Thursday was which SoCal track would get those privileges during the non-racing cushion week between the county fair meet at Los Alamitos and Del Mar.

Recently, Del Mar has been awarded the simulcasting designation for that time slot, and it will again retain that week in '23.

But the board did include language in its approved motion that could shift one week of simulcasting privileges to Los Alamitos in 2024. It wouldn't necessarily have to be a July week and could come elsewhere in the calendar year, the CHRB discussed.

Gonzales altered his motion to approve '23 SoCal race dates so it stated, “with an amendment that in 2024 the intent of the board will be to award a dark week with that revenue stream to Los Alamitos.”

The vote on the SoCal dates was 6-1, with commissioner Wendy Mitchell opposing.

Prior to the vote, Mitchell had expressed concerns about making guarantees to license applicants about what the board might vote on for 2024.

“I would like us to look at the two-year calendar versus kind of just doing this ad hoc when [track applicants] pitch a hissy fit,” Mitchell said.

So the '23 SoCal schedule will be as follows (again, with dates allocations in blocks, and actual race dates to be approved by the CHRB just prior to each meet):

Santa Anita-Dec. 21, 2022 to June 20, 2023

Los Alamitos (LA County Fair)-June 21 to July 11

Del Mar-July 12 to Sept. 12

Los Alamitos-Sept. 13 to 26

Santa Anita-Sept. 27 to Nov. 7

Del Mar-Nov. 8 to Dec. 5

Los Alamitos-Dec. 6 to 19

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Record $80M Bet on ’22 Kentucky Downs Meet

The FanDuel Meet at Kentucky Downs concluded Wednesday with record wagering topping $80 million for the seven-day run. Purses again set a record, reaching almost $18 million paid out to horse owners.

With $12,896,355 bet on Wednesday's closing card, total wagering on the meet reached $80,175,928, clipping Kentucky Downs' previous record of $74,088,532 over six days last year for an increase of 8 percent. A record $21,065,982 was bet on Saturday Sept. 10. The average field size was 10.61 horses, the highest since 2019.

The record wagering comes in spite of adverse weather on both weekends during the meet that began Thursday Sept. 1. The last four races on Saturday Sept. 3 had to be rescheduled. Both Sundays were significantly impacted, with the entire Sept. 4 card transferred to Monday Sept. 5 and the last nine of 11 races carded for Sept. 11 moved to Tuesday, Sept. 13.

“It was a fantastic meet, with world-class racing despite the challenges,” said Ted Nicholson, Kentucky Downs' Vice President for Racing. “Every weekend we ran, we were meteorologists. Losing both Sundays and having to shift one card to a Tuesday is not ideal. It was a testament to track superintendent Butch Lehr and the track crew how well the course held together. For us, along with our horsemen and horseplayers, to persevere and get to $80 million is huge.”

Participation was broad-based: An even 100 trainers ran at least one horse, with Mike Maker leading the way with 66 starts – more than double No. 2 Steve Asmussen's 32. Ninety-eight unique owners or ownership groups participated, highlighted by Three Diamonds Farms' 21 starters. Sixty-two jockeys rode at least one race, led by meet-leader Tyler Gaffalione (nine wins) riding 66 of 73 races.

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Bolt d’Oro Represented By First European Winner

7th-Naas, €16,000, Mdn, 9-15, 2yo, 7fT, 1:31.33, g/y.
BOLD DISCOVERY (c, 2, Bolt d'Oro–Caribbean Babe, by Arch), sent off at 15-2, quickly established a clear advantage. Maintaining the gallop in game fashion in the straight, the bay hit the line strong with 2 1/2 lengths to spare over Peking Opera (Ire) (Galileo {Ire}). “That was very impressive and he's a gorgeous horse,” Kate Harrington said. “He only came to us in June and has always done everything so easy. Obviously his sire is a sensation in America on the dirt and it's exciting for him to have a turf horse here. I think he's Kentucky-bred and there are plenty of bonuses and stuff to be won out there. He's very exciting for next season.” The winner, who becomes the first in Europe for his Spendthrift Farm-based sire (by Medaglia d'Oro) and his 16th overall, is the first foal out of a half to four stakes performers including the GII Fayette S. winner Independence Hall (Constitution) and the GIII Spiral S. scorer Black Onyx (Rock Hard Ten). Related to the G1 Fillies' Mile heroine White Moonstone (Dynaformer), Caribbean Babe has a yearling colt by Independence Hall's sire, a filly foal by Improbable and was bred to Tiz The Law for 2023. Sales history: $50,000 Ylg '21 KEESEP. Lifetime Record: 1-1-0-0, $9,581.
O-Fergus Galvin & Marc Detampel; B-Chc Inc. (KY); T-Jessica Harrington.

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