Churchill seeks date reduction; cuts stakes purses

Due to a reduced number of entries and a decline in purse money earned from

all wagering sources during its ongoing 2009 spring meet, Churchill Downs will

request permission from the Kentucky Horse Racing Commission (KHRC) to eliminate

seven race days from its 2009 spring meet, which had been scheduled for 52

racing days between April 25 and July 5. The request, which will be made at the

KHRC's regularly scheduled meeting on Tuesday comes on the heels of four

consecutive race days in which at least one race was canceled due to small field

sizes.

"With this announcement, we are now clearly seeing the impact of competing

with Thoroughbred racetracks that supplement their purses with revenue from

additional gaming options, such as slots and video lottery terminals," said Bill

Carstanjen, chief operating officer of Churchill Downs Inc. "Our analysis shows

that tracks with these enhanced purses are attracting more horses to their

races. Meanwhile, Kentucky, the cradle of our industry, is seeing a decline in

field size. Until we address this inequity, Kentucky's horse industry will

continue to suffer."

Churchill will request that six Wednesdays (May 20; June 3, 10, 17 and 24;

and July 1) and one Thursday (May 28) be eliminated from its 2009 spring meet

schedule.

"We are disappointed that we have to make this request after a successful

Kentucky Derby week," Carstanjen said. "The crowds we enjoyed for the Kentucky

Derby (G1) and Kentucky Oaks (G1), as well as Mother's Day, illustrate clearly

the passion and appreciation that Louisville has for us, and leave no doubt that

Louisville is a major-league city that supports this track. Unfortunately, we

have not been able to draw enough horses to fill our race cards and remain

competitive in the national wagering market, which accounts for almost 90

percent of our handle. As a result, our wagering handle, which funds purses, has

been down 20 percent outside of Oaks and Derby Days."

Churchill will also reduce purses by $425,000 on six stakes races to help

offset the lower than expected wagering levels. Those races, including their

original and revised purses, are the June 6 Mint Julep H. (G3), from $150,000 to

$100,000; the June 13 Jefferson Cup (G2), from $200,000 to $150,000; the June 13

Northern Dancer S. (G3), from $150,000 to $100,000; the June 13 Fleur de Lis H.

(G2), from $300,000 to $200,000; the June 13 Stephen Foster H. (G1), from

$750,000 to $600,000; and the July 4 Firecracker H. (G2), from $175,000 to

$150,000. The reductions in purses will not affect the grade of any of the races

listed.

"Although we regret that current business conditions have forced the

reduction of purses for six of our most popular and historic stakes events, we

took care to avoid cutting overnight purses in an effort to soften the impact

upon our Kentucky horsemen," Carstanjen added. "We have worked with Kentucky's

horsemen and they understand the need for these unfortunate changes. We hope

that this will assist their stables and we appreciate their continued support of

Churchill Downs and Kentucky racing."