Key Developments For Churchill Downs Inc
Churchill Downs Inc (CHDN.O) (Nasdaq)
Churchill Downs Inc. Approves Dividend
Churchill Downs Inc. announced that it has declared an annual dividend of $0.50 per share on the Company's common stock, payable on January 25, 2010 to stockholders of record on December 31, 2009.
Churchill Downs Inc. And Aristocrat Technologies, Inc. Join Forces To Create Kentucky Derby Themed Slot Machine
Aristocrat Technologies, Inc., and Churchill Downs Inc. announced that they have entered into a licensing agreement to create Kentucky Derby themed slot machine. The pairing brings together two of the strongest brands in entertainment to create a product that will have slot players racing toward casinos to try their luck at a run for the roses.
Churchill Downs Inc. To Acquire Youbet.com, Inc.
Churchill Downs Inc. and Youbet.com, Inc. announced that they have entered into a definitive merger agreement under which Churchill Downs would acquire all of the outstanding shares of Youbet in a transaction valued at approximately $126.8 million based on the November 10, 2009, closing price of Churchill Downs common stock. Under the terms of the transaction, Youbet shareholders would receive a fixed ratio of 0.0598 shares of Churchill Downs common stock plus $0.97 in cash for each share of Youbet common stock they own, subject to possible future adjustment to the exchange ratio in very limited circumstances to increase the cash consideration and correspondingly decrease the stock consideration, in order to ensure that the transaction does not require Churchill Downs to issue more than 19.6% of its outstanding common stock prior to the transaction. After the close of the transaction, Youbet.com shareholders are expected to own approximately 16% of Churchill Downs.
Churchill Downs Inc., Calder Race Course and Churchill Downs Technology Initiatives Company Files Suit Against THG And FLHBPA
Churchill Downs Inc., Calder Race Course and Churchill Downs Technology Initiatives Company filed suit against the Thoroughbred Horsemen's Group (THG), the Florida Horsemen's Benevolent and Protective Association (FLHBPA) and the officers of each organization in the United States District Court for the Western District of Kentucky. The suit alleges violations under the Sherman Antitrust Act and is a result of the FLHBPA's refusal, acting in concert with the THG, to approve the distribution of Calder races to out-of-state off-track betting sites, including advance-deposit wagering (ADW) companies. The suit requests that THG, an alliance of horsemen's groups from around the country, be dissolved and the defendants be prevented from boycotting racetracks and ADW operators that do not comply with their demands, which include uniform terms for the pricing of racing signals.
Churchill Downs Inc. Declares Dividend
Churchill Downs Inc. announced that its Board of Directors declared an annual dividend of $0.50 per share on the Company's common stock, payable January 23, 2008, to stockholders of record on December 28, 2007.
