churchill downs general counsel

Best way to get Churchill Downs, Inc. help. So this is the fifth license that the city of Richmond has awarded the partnership. We bring the advantage of being the only gaming on our side of the Ohio River, but it is a very competitive developed market. And I think this is one of those things where I can tell you that I paid a lot of attention to the TwinSpires business since the day it was conceptualized and became a real thing. Apply to Senior Counsel, Counsel, Associate Attorney and more! 1 0 obj The new paddock will And I guess, just going back to the hypothetical, if revenues and demand remain strong, are these margins that are sustainable at least for the year? Each of our racetracks and HRM facilities in Kentucky already have a sports bar that will be enhanced with sports betting kiosks so that our customers can easily and conveniently play their retail sports bets. A distinguished attorney and leader with extensive experience in companies with global operations, he will be responsible for JLL's legal and compliance functions. View All Contacts Details Industries Casino Casual Games Gaming Internet Racing Social Media Headquarters Regions Southern US Founded Date May 1, 1875 CATHY BEEDING joins the team as Executive Vice President and General Counsel. WebBrad Blackwell is Exec VP/General Counsel at Churchill Downs Incorporated. This site is protected by reCAPTCHA and the Google. We have more work to do to make this a great Kentucky racetrack and are committed to doing so. Happy to do that. Ky. 1998). We do this in other markets. We have announced a number of new guest experiences and ticket offerings that will be available for this very special Kentucky Derby. Ryan Jordan, SeniorVice Presidentof Real Estate Development, told the Indiana Gaming Commission that the original plan called for a $240 million project, but based on other projects, they've updated that range to up to $260 million. There are no definitive dates yet for construction because the project hasn't officially gone out for bidding. To do so, Defendants removed numerous references to "Churchill Downs" and "the Kentucky Derby," although several uses of these words do remain, most prominently in the "applet" used to display tickets. I would answer that by saying, look at our results for the quarter, those are the trends that are in the books that we see and that we can fully understand. We will look to go live in our retail locations once regulators have promulgated all of the required regulations and operational standards. Churchill Downs Names New General Counsel, Chief Development Officer. Sauer said Churchill Downs chose to acquire 25 acres from the original Premier Gaming plan, as well as an adjacent 25 acres. So I don't really have anything material to say or any material concerns about the interplay between people that go to Newport versus Turfway. But with respect to Kentucky sports betting, have you talked about what the opportunities are and sort of what the magnitude of that is and what your strategies are for activating that once it goes live? Current Wait: 4 mins (4m avg) Hours: 24 hours, 7 days; best time to call: 10:45am. CIVIL ACTION NO. Churchill Downs is part of the Gambling & Ky. May. WebCole Carter was named Executive Vice President and General Counsel in July 2018. Let's start with our historical racing machines or HRM initiatives. And I think the proof will be in the pudding, though, and we're very close to starting to see some of that proof. First, the Consent Decree, as discussed above, was neither clear nor unambiguous. All forward-looking statements should be considered in conjunction with the cautionary statements in our earnings release and the risk factors included in our filings with the SEC, specifically the most recent reports on Form 10-Q and Form 10-K. Any forward-looking statements that we make are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events. Obviously, there's a lot we could talk about and we do work on here. When we talk to the slot manufacturers, it sounds like they're all really focused on generating good content for your business, for HRMs in general. So an optimistic time for us, but the proof is going to be in the pudding, and we're happy to wait for that. One of the most exciting developments will be the completion of the Paddock Project with breathtaking and unrestricted views of the TwinSpires, along with spectacular new seating and dining experiences. Before we get started, I would like to remind you that some of the statements that we make today may include forward-looking statements. But all good, you'll see improvement every quarter. Churchill Downs Incorporated (CDI) (NASDAQ: CHDN), headquartered in Louisville, Kentucky, is an industry-leading racing, gaming and online wagering company anchored by our iconic flagship event The Kentucky Derby. With me today are several members of our team, including Bill Mudd, our President and Chief Operating Officer; Marcia Dall, our Chief Financial Officer; and Brad Blackwell, our General Counsel. Churchill Downs entered two definitive contracts for those properties - the first on February 14, and the second on March 7. Understood. The Court has no reason to believe that the website has changed significantly in its use of the Marks "Kentucky Derby" and "Churchill Downs" since January 6, 2003. You can see it's a very competitive project -- product. TERRE HAUTE, Ind. Thanks for that update. As Executive Vice President and General Counsel, Ms. Beeding is responsible for all legal, regulatory and compliance affairs, including oversight of all Live! And really, if you'll show some patients, I think we'll be able to provide you a better, more complete answer in the second quarter after there's a chance for the Triple Crown events around which some of these folks can actually do comprehensive marketing because they have events to push people towards. Churchill Downs is part of the Gambling & You are looking up Churchill Downs, Inc. customer care, so you probably already know who they are. Thank you, Marcia. Churchill Downs Location 600 N Hurstbourne Pkwy Ste 400, Louisville, Kentucky, 40222, United States As Bill shared, we delivered record first quarter revenue and adjusted EBITDA. Second question would just be Richmond came up just kind of on the slate of -- it sounds like you got a couple referendum you're targeting in Virginia for this fall. We obviously have a lot going on right now with the Kentucky Derby and all of our growth projects. 2004). And now I'll turn the call over to our Chief Executive Officer, Mr. Bill Carstanjen. Regarding our Gaming business, we realized significant contributions from the addition of the New York and Iowa properties acquired in the P2E Transaction. Thank you. Web8 In House Counsel jobs available in Carwood, IN on Indeed.com. And on the subject of HRM facilities, one of the issues that comes up regularly with investors is the degree to which those HRM facilities can perform, right, whether an HRM machine, how it compares with the traditional regular slot machine, whether there's any noticeable difference in consumer spend or behaviors or any of those sorts of things? Camerons gubernatorial campaign manager Gus Herbert indicated the same. Churchill Downs, Inc. also goes by or is associated with the names Churchill Downs Inc., Churchill Downs. So getting that product converted for ours will always be something we're working on. I wanted to go back to an issue and I apologize if this sort of came out in the remarks. Our first quarter same-store wholly owned casino margins were down less than 1 point compared to the prior same period in 2022, primarily reflecting the margin pressure from the decline in adjusted EBITDA from our Pennsylvania properties. But I'm very pleased with our team and very pleased with our start and very pleased with the progress we showed over the first quarter. Our existing regional gaming properties in Maine, Maryland, Louisiana and our Harlow's property in Mississippi, collectively delivered a small increase in adjusted EBITDA compared to the prior year quarter that was more than offset by declines at our Pennsylvania and Florida properties and our Riverwalk property in Mississippi. Churchill Downs is projecting a 14-month construction window. Sharing is what powers GetHuman's free customer service contact information and tools. As a reminder, we also have the Oak Grove HRM extension in our portfolio of potential longer-term development projects. The company itself said that the suggestion that they might be trying to influence Cameron by contributing six figures to the PAC supporting him, Bluegrass Freedom Action, is reaching to connect dots when there are none., We plan to be working in Kentucky for years to come, therefore, like many organizations, we have made contributions to candidates that we believe fundamentally support Kentucky small businesses, veterans groups, and fraternal clubs (our customers), the company said in a statement. For the following reasons, the Court will deny both motions. She also has a certification in ICGIP Gaming Anti-Money Laundering Specialist. We haven't achieved that yet. However, officials are monitoring supply issues - which could delay the project and raise costs. TERRE HAUTE, Ind. The Consent Decree is in part ambiguous on its face and thus a temporary restraining order would be inappropriate. Churchill Downs looks ahead with plans for casino on the east side, Officials break ground on new Terre Haute casino, Crews bring in the cranes as Terre Haute casino work continues, Churchill Downs site plan for the east side of Terre Haute, Zoning board approves variance for casino, hotel, "Our town is not fine" One Local Man Gives Back to Hometown Destroyed By Storms, Rubber duck season has started in the Wabash Valley - here's how you can adopt one and help a good cause, Officials identify the man who died in Labor Day drowning in Sullivan County, Murder charges filed against mother, brother of dumped boy, Library connecting community through the 'Big Read', Indiana zoos 3 surviving penguins improve after deaths of 6 others, Create a new subdivision plat that combines the two properties into one new parcel, Rezone the property from its current agricultural use to a commercial use, Obtain a variance to exceed 125 in height which is required on any site in Terre Haute, Receive approval from the FAA given the proximity to the airport, March 17 Terre Haute Board of Zoning Appeals Height Variance Approval Meeting, April 6 Vigo County Area Plan approves Subdivision Plat, Target closing on the property in April or May after all land-use approvals have been obtained, including the FAA permit. David, yes, we can put these in our racetracks and also our HRM extensions. Good day, ladies and gentlemen, and welcome to the Churchill Downs Inc. 2023 First Quarter Earnings Conference Call. And our next question comes from the line of David Katz with Jefferies. Big Fish Casino constituted illegal gambling under Washington law because its virtual chips were a " You're all set! However, commission staff asked Churchill Downs to offer an update due to the importance of the change. 502-636-4400. So we're very excited to see the first real milestone of that, though, around the Kentucky Derby. Good morning, everyone. !Hb$^\*$PH2J`SS8~7o\Rx?7:Rv2_n(Mg.W*wq[mBU;.gcoOH With that, I'll turn the call over to Marcia, and then we will take your questions. Parol evidence can include the behavior of the parties prior to or contemporaneous with the contract. Our Virginia properties contributed $98 million of net revenue and $47 million of adjusted EBITDA in the first quarter. I think your proposal has been around much longer, but just kind of a couple of the pros, cons there because I believe that the scope and scale there is pretty material. The panel held that plaintiff Cheryl Kater stated a cause of action under Recovery of Money Lost at Gambling Act where she alleged that she lost over $1,000 worth of virtual chips while playing Big Fish Casino, and she could recover the value of those lost chips from Churchill Downs, as, Big Fish Casino constituted illegal gambling under Washington law because its virtual chips were a "thing of value.". Also, we are making solid progress on our sale of New Hampshire HRM site plans, and we'll share more details on future earnings calls. Executives say the broader area around the revised site off Exit 11 has been planned to accommodate further development. A big project, estimated at $185-200 million. In order to make the project a reality, Churchill Downs is in the process of completing several steps. Our overarching objective is to pursue what we have demonstrated we are good at, growing the Kentucky Derby, developing greenfield and organic opportunities as well as executing strategic acquisitions that fit our profile. That's a really interesting question, and I think it's one that you'll see the answer play out over an extended period of time. And so it's a really good thing. Yes, there can be challenges on material, but we're managing all those. GetHuman provides free tools and information to consumers that allow them to share their customer experiences and tips with each other for how to contact companies faster and how to solve common problems. We are working through the required city of Richmond approvals to conduct a referendum this fall to obtain the authorization necessary to proceed with the construction of this project, which would include a casino, hotel and event center. In deciding whether or not the requested injunctive relief is appropriate, the Court must consider four factors: "(1) whether the movant has a strong likelihood of success on the merits, (2) whether the movant would suffer irreparable injury absent a stay, (3) whether granting the stay would cause substantial harm to others, and (4) whether the public interest would be served by granting the [motion]." And then just any way or hint on how to think about or quantify this impact of this more restrictive regulation? (Operator Instructions) As a reminder, this conference call is being recorded.