Churchill to sell Hoosier Park

Churchill Downs Inc. (CDI) will sell its remaining 62 percent interest in Hoosier

Park to Centaur Inc., a privately held, Indiana-based company. Centaur has owned

a 38 percent interest in Hoosier Park since December 2001 and has held options

to purchase a greater stake in the Anderson, Indiana, racetrack and its three

off-track betting (OTB) parlors. Financial terms were not disclosed.

According to the agreement, Centaur will assume management responsibility for

Hoosier Park and its OTB network, while the Churchill Downs Simulcast Network

will continue to distribute the Hoosier Park signal. The transaction, which must be

approved by the Indiana Horse Racing Commission and the City of Anderson

Department of Parks and Recreation, is expected to close during the first

quarter of 2007.

"We are pleased to sell CDI's remaining interest in Hoosier Park to Centaur,

which has been our partner in the Hoosier Park operation for a number of years

and who remains firmly committed to Indiana horse racing," CDI President and Chief

Executive Officer

Robert L. Evans said. "When CDI secured an Indiana racing license and completed

the construction of Hoosier Park in 1994, the company was focused on acquiring

racetracks and content for our simulcast network. Our company has grown

significantly since that time, and Hoosier Park is no longer a strategic asset

for us."