Churchill Downs, Magna Join Empire Racing Team

SARATOGA SPRINGS, New York – (PRESS RELEASE) -- Churchill Downs Incorporated and Magna Entertainment Corp. two of horse racing's most accomplished organizations, have joined the Empire Racing team that is bidding to operate New York State's thoroughbred racetracks at Saratoga, Belmont, and Aqueduct, Empire Racing announced today.

The news was hailed by representatives of New York breeders, owners and trainers.

"Empire Racing has done what many thought impossible - they have unified the industry," said trainer Rick Violette, President of the Thoroughbred Horsemen's Association, a national group, and Vice President of the New York Thoroughbred Horsemen's Association. "First they unified the thoroughbred industry in New York State by including Finger Lakes Racetrack. Now, by having Churchill and Magna Entertainment participate on a team led by New Yorkers for the benefit of New York horsemen, Empire Racing has unified the overall industry and will create a bright future for racing, particularly here in New York."

Empire Racing CEO Jeff Perlee said the agreement provides additional key components for Empire's bid for the New York thoroughbred racing franchise.

"Our mission is to provide New Yorkers with racing that is both home grown and world class," Perlee said. "The addition of these two great organizations to our team achieves that mission and prepares us to present the strongest possible bid to the state."

"Empire Racing was formed by a group of dedicated and innovative New Yorkers determined to create a bright future for racing in their home state," said Magna Entertainment Chairman Frank Stronach. "Magna Entertainment and Churchill Downs share Empire's outlook on New York racing and by pooling our collective talents and resources, our companies can assist Empire Racing and its impressive list of partners with what we hope will be a successful bid for the New York racetrack franchise."

"By joining the Empire team, we have the opportunity to bring greater consistency to the quality and integrity of racing across the United States, to better market racing to new fans throughout the year and to take U.S. racing into the global market in a powerful way," said Churchill Downs President and CEO Robert Evans. "Empire represents an across-the-board win for the citizens of New York, New York horsemen and racing fans everywhere."

Empire Racing has previously announced the support of Delaware North Companies, Woodbine Entertainment and Scientific Games. Churchill Downs and Magna Entertainment are global leaders in staging and promoting big-day racing events and will bring that expertise to Empire Racing's bid. New York decision makers have identified the need to attract more "big day" crowds as an area of need and focus for any new franchise operator. In May, Magna Entertainment hosted more than 118,000 fans at the Preakness Stakes while Churchill Downs attracted more than 150,000 fans for the Kentucky Derby, one of the world's premier sporting events.

The Empire bid would bring together the three Triple Crown races - the Kentucky Derby, the Preakness Stakes and New York's Belmont Stakes. Under the agreement, Empire Racing would also cooperate with Churchill Downs and Magna Entertainment in marketing all three Triple Crown races - a move that would increase fan attention and interest.

As part of the agreement, Churchill Downs and Magna Entertainment will each receive one seat on Empire Racing's 15-member board. About Empire Racing