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Events and Attractions

Churchill Downs Balances Business Objectives With Kentucky Derby Experience

Churchill Downs Inc. conceded some of the criticisms last year during Kentucky Derby week "'hurt' as the casino and racing company is doing more this year that is not purely profit driven," according to Gregory Hall of the Louisville COURIER-JOURNAL. CDI this year "created a corporate-level position to coordinate" its "racing industry efforts, agreed to match owners' per-start contributions toward care of retired thoroughbreds, created a new seating area with more free seats for Kentucky Derby and Oaks owners, gave Derby owners drivers for Derby week and made a three-year deal to support The Jockeys' Guild, something that in the past had been a contentious issue." Much of the negative attention "focused on the owner experience." The owner of this year's Derby favorite American Pharoah, Ahmet Zayat, noted on Twitter that he "used to bash" Churchill's hospitality for Derby owners but added, "I have to admit they have been so proactive this year." While CDI CEO Bill Carstanjen said that he is "'cautiously optimistic' about how owners will feel after this year's Derby, he's sure there'll be changes to be made next year." He added that it is "fair to categorize some recent company moves as not being as profit driven as the company is commonly criticized for among some in the industry." Carstanjen: "We have shareholders that we're responsive to and we all have an obligation to run the business as a business and to make it as strong and profitable over the long term as we can. ... Part of that here also involves being a good corporate citizen, being a good industry participant, having a broader perspective on what's good for the Kentucky Derby over time and what's good for thoroughbred racing over time and filtering in those long-term goals with your yearly or quarterly business goals" (Louisville COURIER-JOURNAL, 4/27).

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