FOR IMMEDIATE RELEASE:
Contact: Joe Kristufek
Notes Writer/Media Relations
Fair Grounds Announces Third Purse Increase of the Meet
Continued Strong Business Prompts Another Daily Bump
New Orleans (March 3, 2021) – For the third time in the 2020-21 meet, Fair Grounds Race Course & Slots has announced a 10% purse increase across the board. Much like the first two, the boost was inspired by strong simulcast handle. The purse increase, which includes both open races and Louisiana-bred races, goes into effect for the final 13 days of the meet, beginning with the Thursday, March 11 card. The draw for that card is Thursday, March 4.
“Our handle has continued to be strong, and we are pleased to be able to raise purses for the third time this meet,” Fair Grounds’ racing secretary Scott Jones said. “We’d once again like to thank the owners, trainers and fans who have been supporting our day-to-day racing product. $60,000 for a maiden special weight pot is a very competitive number to get to.”
Jones also indicated that the purses for all of the non-stakes races carded for the Saturday, March 20th Louisiana Derby Day card will be bumped up to $75,000 apiece. In addition, in order to accommodate the NBC broadcast, post time on that day has been pushed back to 11:20 a.m. CT.To make up for the weather related February 11th cancellation, Fair Grounds has also added Wednesday, March 24th, to the live racing calendar.
About Fair Grounds Race Course & Slots: Fair Grounds Race Course & Slots, one of the nation’s oldest racetracks, has been in operation since 1872. Located in New Orleans, LA, Fair Grounds is owned by Churchill Downs Incorporated (NASDAQ Global Select Market: CHDN); it also operates a slot-machine gaming facility and 13 off-track betting parlors throughout southeast Louisiana. The 149th Thoroughbred Racing Season – highlighted by the 108th running of the Louisiana Derby – will run from November 26, 2020 through March 28, 2021. More information can be found online at www.FairGroundsRaceCourse.com.
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Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from expectations include the following: the effect of economic conditions on our consumers’ confidence and discretionary spending or our access to credit; additional or increased taxes and fees; public perceptions or lack of confidence in the integrity of our business; loss of key or highly skilled personnel; restrictions in our debt facilities limiting our flexibility to operate our business; general risks related to real estate ownership, including fluctuations in market values and environmental regulations; catastrophic events and system failures disrupting our operations, including the impact of natural and other disasters on our operations and our ability to obtain insurance recoveries in respect of such losses; inability to identify and complete acquisition, expansion or divestiture projects, on time, on budget or as planned; difficulty in integrating recent or future acquisitions into our operations; legalization of online real money gaming and sports wagering in the United States, and our ability to capitalize on and predict such legalization; the number of people attending and wagering on live horse races; inability to respond to rapid technological changes in a timely manner; inadvertent infringement of the intellectual property of others; inability to protect our own intellectual property rights; security breaches and other security risks related to our technology, personal information, source code and other proprietary information, including failure to comply with regulations and other legal obligations relating to receiving, processing, storing and using personal information; payment- related risks, such as chargebacks for fraudulent credit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; compliance with payment processing and payment transmission regulations; work stoppages and labor issues; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; personal injury litigation related to injuries occurring at our racetracks; the inability of our totalisator company, United Tote, to maintain its processes accurately, keep its technology current or maintain its significant customers; weather conditions affecting our ability to conduct live racing; increased competition in the horseracing business; changes in the regulatory environment of our racing operations; declining popularity in horseracing; seasonal fluctuations in our horseracing business due to geographic concentration of our operations; increased competition in our casino business; changes in regulatory environment of our casino business; the cost and possibility for delay, cost overruns and other uncertainties associated with the develop.m.ent and expansion of casinos; concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; impact of further legislation prohibiting tobacco smoking; geographic concentration of our casino business; changes in regulatory environment for our advanced deposit wagering, sports wagering, or online gaming businesses; increase in competition in the advanced deposit wagering, sports wagering, or online gaming businesses; inability to retain current customers or attract new customers to our advanced deposit wagering, sports wagering, or online gaming businesses; uncertainty and changes in the legal landscape relating to our advanced deposit wagering, sports wagering, or online gaming businesses; and failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment in our ability to offer advanced deposit wagering, sports wagering, or online gaming.