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New Five Year Slot Machine License for Churchill Downs Inc.

Posted by Samantha A. on Tuesday, April 14, 2015

Racing is now up and ready to go!

A year ago, representatives from Churchill Downs Inc. were grilled at the Louisiana Capitol by concerned legislatures. Now, one year later another meeting in the same place, took a tone that was decidedly different.

Churchill Downs Inc., was approved by the Louisiana Gaming Control Board a new license that will run for five years. This license will allow the Fair Ground to run slot machines. April 18, 2015 is the date of expiration on the previous license.

Races that are held at Fair Grounds, get help from the slot machines with subsidizing purses. However, last year the concern was that CDI put too much importance on the slots generating money and not an adequate amount on the horse racing merchandise.

Gross profits from the slot machines from 2013-2014, was $46 million.

Tim Bryant, president at the Fair Grounds, states this year the meet went “extremely well” as racing for the 2014-2015 season ends.

Last year the track had to cut racing purses twice, they did not have to be cut this year.

Additionally, CDI was able to carry through with all conditions that were placed on them from the Louisiana Racing Commission. CDI had the condition put on them last year of re-investing in the track, for a conditional license that would last one year.

The Louisiana Racing Commission voted unanimously that CDI was fulfilling conditions set for their license. There was a difference noticed from this year and last, with CDI.

Bryant has also stated the handle of the track was up. Handles nationwide are in a trend of sagging.

He claims they are closing this years meet out strong, saying they had a great one.

This does not mean that CDI is completely out of the woods yet, however.

Ronnie Jones, a chairmen with Louisiana Gaming Control Board was not happy that the corporate office for CDI in Kentucky, had no representatives go down to the session. Jones stated to Bryant  and an attorney that represents CDI, David Waguespack, that a message was sent to him by not going there.

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