i just read an article in the Louisville Courier newspaper about Churchill Downs (home of the Kentucky Derby), and it kind of freaked me out.
As a horse racing fan.
Churchill Downs Inc. is moving to protect its equine roots by moving beyond those roots.
For the first time, the Louisville company last year got more profit — 53 percent — from online wagering and casino gambling than horse racing.
Can you believe it?
Churchill once owned as many as seven racetracks. It now has four, and Chief Executive Officer Bob Evans said it’s possible that number could shrink.
In a recent interview with the Louisville newspaper, Evans said his goal is to build a sustainable business and, “Whether we’ve got four racetracks that’ll be part of that or three or two, I don’t know.”
The Louisville track has the Kentucky Derby and Oaks, and the company’s tracks in New Orleans and Florida have casino-style gambling.
During Evans’ tenure, Churchill has launched an online wagering business, added slots at its New Orleans and Miami-area tracks and bought its first stand-alone casino. And Evans said the company could buy more.
Meanwhile, the Derby is this coming Saturday. More postings on the race as we move through the week.