Churchill Downs, Inc. and Subsidiaries - Page 4




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               The Sport of Kings Gala includes a press-reception cocktail            
          party followed by a dinner and entertainment on the Thursday                
          evening of Derby week.  The costs of the Sport of Kings Gala,               
          including those for food, beverages, and entertainment, are borne           
          by petitioners.  Petitioners’ employees were in attendance at the           
          Sport of Kings Gala in 1994 and in 1995.  In 1994, the Sport of             
          Kings Gala was held at the Sports Spectrum, an off-track betting            
          facility located in Louisville, Kentucky, and owned by                      
          petitioners.  In 1995, the Sport of Kings Gala was held at the              
          Kentucky State Fair and Exposition Center in Louisville,                    
          Kentucky.                                                                   
               The Breeders’ Cup race rotates among several racetracks.               
          In 1994, petitioners hosted the Breeders’ Cup race, the Breeders’           
          Cup press-reception cocktail party and dinner, and the Breeders’            
          Cup press breakfast.  Under petitioners’ contract with Breeders’            
          Cup Limited (BCL) they were obligated to conduct certain                    
          promotional activities designed to enhance the significance of              
          the Breeders’ Cup day of races as a national and international              
          championship event for the sport of racing.  Included in these              
          required promotional activities are the Breeders’ Cup press-                
          reception cocktail party and dinner and the Breeders’ Cup press             
          breakfast.                                                                  
               The 1994 Breeders’ Cup press-reception cocktail party and              
          dinner were held at the Galt House Hotel in Louisville, Kentucky,           






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Last modified: May 25, 2011