These are the initial steps to unleash what we think would be a really fantastic project. Compare Churchill Downs, Inc.'s email address, and phone number. CTTYYZJ&d\R8q,"9V$-Gf]y_KA'NQ~m+EeTP)oS*j;L;2v[+=bsD+ Apply to Associate Attorney, Counsel, Attorney and more! Home | 2023 Kentucky Derby & Oaks | May 5 and May 6, 2023 No matter who asks, he does the same thing, which is that he will stand up for whats right and defend the laws of Kentucky, Herbert said in a statement. But otherwise, yes, there can be challenges on the construction side, but we're managing through those, and there's nothing really to report on the call. As general counsel, he was intimately involved in governmental affairs. 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. Big Fish Casino constituted illegal gambling under Washington law because its virtual chips were a " You're all set! As Executive Vice President and General Counsel, Ms. Beeding is responsible for all legal, regulatory and compliance affairs, including oversight of all Live! Have we seen the labor and utility pressures kind of plateau? We also expect to enter into other market access arrangements in the near future. It's about reaching these customers in the market and convincing them they have an alternative to driving over these bridges to Indiana and Ohio. General Counsel Everyone, we really appreciate your interest in our company and your investment in our company. There will be three entrances for gu. We do this in several other markets. Great. <>>> We believe our retail sports books helped to drive additional traffic to our properties in other states and will further help to grow our HRM properties across Kentucky. These were popping up in bars and taverns and restaurants and convenience stores across the state. By April 13, 2007, these negotiations had broken down and Churchill Downs filed this motion. TERRE HAUTE, Ind. There are no definitive dates yet for construction because the project hasn't officially gone out for bidding. Email notifications are only sent once a day, and only if there are new matching items. Got it. This project will reinvent Churchill Downs racetrack and create unique once-in-a-lifetime experiences that will surpass anything like it anywhere in the United States. We have announced a number of new guest experiences and ticket offerings that will be available for this very special Kentucky Derby. So the state has taken steps through legislation to ban them. On April 5, 2007, Churchill Downs sent a letter to Defendants, stating that Churchill Downs was aware of the use of these Marks on the www.derbybox.com Web site, that Defendants could not use the Marks without permission, and that Defendants were violating the Consent Decree. The location is in a thriving commercial area. Executives at Kentuckys biggest so-called gray machine company gave $100,000 in donations to a political action committee supporting Attorney General Daniel Camerons campaign for governor in mid-March. 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. See, e.g., Schachner v. Blue Cross and Blue Shield of Ohio, 77 F.3d 889, 893 (6th Cir. In fact, early ticket sales are already underway and selling nicely. But there's still a pretty healthy product map and road map for what we want to see happen in terms of HRM product on our floor and our manufacturers, I think, get the attractiveness of HRMs for their business model, the ability to sell us machines and make a return on our HRM floors. I think we were very, very pleased with the path we're on towards improvement. Sure, Dan. Web17 Legal Counsel jobs available in Carwood, IN on Indeed.com. Overall, we are very excited about our progress towards this year's Kentucky Derby. They were untaxed. Media Alert Sure, Sean. Pace-O-Matic continues to be in the unfair position of defending its legal business against entities like Churchill Downs Inc., and others, that have enormous political capital in the state. And our next question comes from the line of Jordan Bender with JMP. Week to week, we always look carefully to look at trends. The CDI Legal Department is looking for an experienced and motivated attorney to join our team as 2006). You can see it's a very competitive project -- product. So we're also, of course, really excited about the growth projects that hadn't been executed on, and that's a big part of what a portion of our team spends our time on. Craft received $46,000 total from 30 people tied to Churchill Downs this year. Just wondering if we could revisit scope and scale there of a potential opportunity as well as just any milestones or things that need to occur relative to, I think, a competing proposal that exists up in Petersburg. So we have to look at the results as they come in. But generally, in operations, I feel good. Thanks, Bill, and good morning, everyone. For similar reasons, the Court must also deny Plaintiff's motion for a temporary restraining order. Churchill Downs is part of the Gambling & Churchill Downs, Inc. also goes by or is associated with the names Churchill Downs Inc., Churchill Downs. Churchill Downs The phrase "except as permitted by law" is difficult to interpret. Sharing is what powers GetHuman's free customer service contact information and tools. General Cameron has always been a staunch advocate of defending the laws passed by the General assembly. WebChief Executive Officer. fj+{e_pKD9}Mj?JUK?UA!zZF}fG?0b0;z{v%#-V zZ-sLGxNI j[Q6VdU?mktC".H ]ZWDwA General Counsel Dennis Mullen said commission staff reviewed statutes and regulations and found the commission did not need to formally approve the location change. Camerons gubernatorial campaign manager Gus Herbert indicated the same. So look out for Derby, look out for handle on the Derby this year. Our Oak Grove HRM facility continued to penetrate the Southwestern Kentucky and Nashville, Tennessee markets. The horse industrys influence in Frankfort runs deep, and has persisted for more than a century dating back to the power of the Jockey Club in the early 20th century. In this specific instance, the Attorney Generals office has already been defending the legislation passed by the General Assembly. Kentucky, at Louisville. Our capital projects to grow the scale and profitability of the Kentucky Derby will be supported by our continued ramp-up of sales efforts across the country as well as a more focused and strategic sales process in numerous foreign markets. 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. The stock split reflects their belief and ours and the long-term growth potential of our company. The use of the "Kentucky Derby" and "Churchill Downs" words as descriptive phrases for over four years could well suggest Plaintiff's understanding that such use did not violate the intended meaning of the Consent Decree. Thank you. However, Section I-D of the Consent Decree introduces significant ambiguity into the document. Michael Rowles - Live Nation Entertainment So it's working fine. <> PACs like Bluegrass Freedom Action and the campaigns they support are barred by state law from coordinating, a subject that drew the attention of the Kentucky Registry of Finance when a finance report for a PAC supporting fellow GOP gubernatorial candidate Kelly Craft showed that her husband Joe Craft had contributed $1.5 million. In 2023 campaigns, individuals tied to Churchill Downs have given large sums of money to incumbent Democratic Gov. Summary. x]{o@XF :Mtg0]\uinyI=,80-M2y>Glg';O^rlYdif3"SybLJ&7~)zL,ybKdysVyR '-3:(LQTiQR ]Si&LV[Y`g?=VtR\G(^T2t+@%99 In our organization, we track a lot of data and we look at it constantly. We will issue a press release after the Derby with all of the details. Counsel Executives from Churchill Downs presented to the Indiana Gaming Commission on Tuesday. However, commission staff asked Churchill Downs to offer an update due to the importance of the change. Media Alert We have developed high-growth, high-margin investments in this segment with excellent returns on capital, and we will seek to build on that track record in Kentucky, Virginia, New Hampshire, Louisiana and perhaps beyond. Waldrop, who earned a law degree from the University of Kentucky in 1985, joined Churchill Downs as its general counsel in 1992. And that's a process that takes time in a competitive market. Sure. But I would also say that already we've achieved a quality product, but our goal is always to be as good as any of our competition has, and we always are going to have that extra step that we're HRM. Our team is also working hard to prepare for the opening of Derby City Gaming Downtown, our HRM entertainment venue in downtown Louisville set to open in the fourth quarter of 2023. We are excited about these projects, and we'll share more details on our next earnings call.We will also discuss in more detail on the next call, our plans with respect to our 50-50 partnership with Urban One to pursue a full Class III casino in the city of Richmond, Virginia. We also were very encouraged to see early benefits of our decision to -- for the launch in the first quarter of our services to deliver racing content to FanDuel, DraftKings. Bradley Blackwell has been working as a Senior Vice President and General Counsel at Churchill Downs for 18 years. But part of reaching maturity eventually property by property, and I am of the view that we haven't reached maturity at any of our HRM properties, part of reaching maturity over time is constantly improving, working with the manufacturers to improve the quality and depth of products available using the HRM model. Leadership Team; Board of Directors; Corporate Social Responsibility; Now that you've had some time owning the P2E assets, curious what you see as the upside case and how that maybe compares to when you initially underwrote the deal? 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. During the 2022 election cycle, Churchill Downs CEO Bill Carstanjen gave $2,000 or $1,000 to more than 100 state legislative candidates on both sides of the political aisle. So it's part of the chess match, but I don't really view it as a margin threat because ultimately, that's on us to be smart on where we deploy our resources, and we have great locations now and we think really great locations that we'll deploy to in the future. Fruition of the project is still something that's not measured in 2023 time frame or probably even 2024. I would now like to hand the call back over to Chief Executive Officer, Bill Carstanjen for any closing remarks. Churchill Downs Ozair Shariff Current Workplace Ozair Shariff has been working as a Corporate Counsel at Churchill Downs for 2 years. So it was a developed competitive market. And Marcia, it looks like share repurchases were somewhat minimal or none in the quarter. Magazine; News; Contact; ABOUT. We will share more on these plans on our next earnings call and are very optimistic we are on a better path now. We are focused on our other Kentucky projects for now. As Executive Vice President and General Counsel, Ms. Beeding is responsible for all legal, regulatory and compliance affairs, including oversight of all Live! I just ask that you show a little patience and wait for the Triple Crown events that are happening in the second quarter where these folks can really do some marketing around. Churchill Downs says the east-side location is near the hub of Vigo County development. Wondering if you could just dig into that a little bit more. 1 0 obj However, officials are monitoring supply issues - which could delay the project and raise costs. Defendant Doug Dearen and Churchill Downs Assistant General Counsel Shawn Bailey corresponded several times over the next week as Dearen attempted to comply with Churchill Downs' requests, at least in part. Additionally, any suggestion that we are attempting to sway an opinion through donations is reaching to connect dots where there are none., Krista Buckel, a spokesperson for the attorney generals office, said in a statement that they will defend all laws passed by the General Assembly and will continue to do so.. She will also work closely with The Cordish Companies corporate development team on new projects. So what we disclosed last quarter in terms of timing for our projects and costs for those projects, we're still on course for that. Churchill Downs is part of the Gambling & Gaming industry, and located in Kentucky, United States. And we're on a path. I think in the first quarter, we were pleased with the consumer trends that we saw across our properties. We'll do our best to process through that, to put ourselves in a position to conduct the referendum this year. Camerons campaign and Pace-o-Matic all deny any impropriety in the donation given to the states top attorney. Ub%RUFi1I@Xb (M'lQV4,o==*4MbI*Z6JMR[ 5AzT We're just going to execute as we have been executing. Recently, there was some legislation there that cracked down on this. Bill? TwinSpires had a nice first quarter. 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. I would now like to introduce your host for today's conference, Mr. Phil Forbis, Vice President, Financial Planning and Analysis. This is a 150-unit facility that remains on track to be completed in the third quarter of 2023. Executives with Churchill Downs say elected officials, citizens, and other stakeholders urged them to build on the east end. Crafts brother, Marc Guilfoil, was a longtime employee of the Kentucky Horse Racing Commission and worked as executive director there for six years until mid-2022. Overall, we are very pleased with the results that our team has delivered in the first quarter, and we believe we are very well positioned to continue to grow through the remainder of 2023. So there's still several steps here before the project could be realized, and we're on that path. Thanks for that update. After she finishes, we will take your questions. Contact Information. But one whose cost is dwarfed by expectations of something special, built in the heart of the racetrack. The new paddock will The pivot out of the online sports and casino business provided a nice uplift to our adjusted EBITDA and margins in first quarter compared to the prior year quarter. 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? And we look at Turfway and Newport as one combined product offering. But so far, nothing to be concerned about. We have more work to do to make this a great Kentucky racetrack and are committed to doing so. However, commission staff asked Churchill Downs to offer an update due to the importance of the change. Currently, we expect this will happen in the second half of 2023. Ky. May. We find that it does drive traffic to our properties that it does help the overall energy and flow of people through our properties. In 2023 campaigns, individuals tied to Churchill Downs have given large sums of money to incumbent Democratic Gov. counsel Disclaimer: Justia Annotations is a forum for attorneys to summarize, comment on, and analyze case law published on our site. So this is the fifth license that the city of Richmond has awarded the partnership. This section implies that Defendants were actually giving up all of their rights to the use of the Marks, including any Fair Use under trademark law. Any cannibalization between that and Newport and how you look to grow that as well as the margin profile over time? Therefore, the panel remanded for further proceedings. We will save any material investment in the HRM portion of Ellis Park until we complete and then evaluate its HRM extension in Owensboro to ensure these properties complement each other and are as efficient as possible from a customer offering and operational perspective. Sauer said Churchill Downs is excited about the east-side property, citing the size, accessibility, and public support of this location. Parol evidence can include the behavior of the parties prior to or contemporaneous with the contract. The Consent Decree is in part ambiguous on its face and thus a temporary restraining order would be inappropriate. Contact: Darren Rogers Senior Director, Communications & Media Services Churchill Downs Racetrack (502) 636-4461 (office) (502) 345-1030 (mobile) Darren.Rogers@KyDerby.com KENTUCKY OAKS, DERBY POST POSITION DRAWS TO BE HELD MONDAY 2-3 P.M. Happy to do that. Both Draws to be Held in Aristides Lounge, Streamed Live on First, all of our HRM properties made strong contributions to our financial results in first quarter. So far, we've been really, really pleased with the P2E assets. We do this in other markets. Good morning, everyone. There's nothing to report or dig deeper into at this time. Should we expect to see or possibly see something a little bit more material in terms of contribution coming through with the Derby? At the end of first quarter, our bank covenant net leverage was 3.9x. But there's no cause for alarm here, things generally look pretty solid across the whole portfolio. WebGeneral Counsel, Senior VP VP, Executive Legal, Management 1 email found 1 phone number found View contacts for Churchill Downs Incorporated to access new leads and connect with decision-makers. I'll unpack that one at a time. We also had nice growth in our Northern Kentucky market as Turfway Park and Newport Gaming continued to improve and expand their market presence during the first quarter. The first money has increased approximately 50% to over $15 million, and we have added 4 new stakes races. And I think our team will meet that challenge so far they have. Executive Leadership Best way to get Churchill Downs, Inc. help. Omar has a Juris Doctor from University of Kentucky College of Law and a BA in Economics from Vanderbilt University. The Court begins with the Consent Decree itself. A court's inherent power to hold a party in civil contempt may be exercised only when (1) the order the party allegedly failed to comply with is clear and unambiguous, (2) the proof of noncompliance is clear and convincing, and (3) the party has not diligently attempted in a reasonable manner to comply. (WTHI) - Churchill Downs is moving forward with its plans for a casino on the east side of Terre Haute. R*_m0hyb##G>.$qW;f.p7"RXA3!R vj\~s`\_-t#JM}QAMChL 1@j6T{fIp!#-x6~.l^U#j=x_=$D/JCJggl~R~i!cT/A? The company has proposed moving its site from near Haute City Center to Margaret Avenue near Interstate 70. In summary, the first quarter was another great quarter for us with record financial results. Counsel We used a portion of the proceeds from this bond offering to repay our term loan B that would have matured in December 2024. !Hb$^\*$PH2J`SS8~7o\Rx?7:Rv2_n(Mg.W*wq[mBU;.gcoOH WebChurchill Downs Incorporated 3.6 Senior Counsel, M&A & Corporate Development Louisville, KY $102K - $170K (Glassdoor est.) WebChurchill Downs Incorporated Senior Vice President and General Counsel Mar-2015 to Feb-2017 Churchill Downs Incorporated Vice President of Operations Apr-2005 to Mar-2015 We're on a pathway to do that. So an optimistic time for us, but the proof is going to be in the pudding, and we're happy to wait for that. The parties litigated the matter vigorously for several months before reaching a settlement. Thank you. So we have an approach. I feel really good about our margins and our ability to sustain and improve as we do the exact transaction. Counsel !%e iQR~gi( g$Z7')38+K&3(^C%fq4^10M!Cx6j:6Vl+*[sbr*-@ekt*P*JXBE+Dn0axf0[#O%pj _3r+Eg_w^moY/ Our most recent gaming floor expansion there is now complete, and the new hotel is on track to open by the end of the second quarter. A copy of this release announcing results and other financial and statistical information about the period to be presented in this conference call, including information required by Regulation G, is available at the section of the company's website titled, News, located at churchilldownsincorporated.com as well as in the website's Investors section. WebCall Churchill Downs, Inc. customer service faster with GetHuman. Contact: Darren Rogers Senior Director, Communications & Media Services Churchill Downs Racetrack (502) 636-4461 (office) (502) 345-1030 (mobile) WebSeating Chart at the Kentucky Derby. We look forward to seeing you at the 149th Kentucky Derby on May 6 of this year. . They were unauthorized. Good to hear. WebWilliam Bill C. Carstanjen was named the Companys 12th Chief Executive Officer in August 2014 after serving as CDIs President and Chief Operating Officer (2011 2014), CDIs Chief Operating Officer (2008-2011) and as Executive Vice President, General Counsel and Chief Development Officer for the Company (2005-2008). HRMs are a key strategic focus over the next 5 to 10 years for our company as we seek to expand our existing footprint. We will look to go live in our retail locations once regulators have promulgated all of the required regulations and operational standards. Ms. Beeding joins Howard Weinstein, who has served as General Counsel for the company since 2012. ." Justia makes no guarantees or warranties that the annotations are accurate or reflect the current state of law, and no annotation is intended to be, nor should it be construed as, legal advice. For most of that time, that Web site was replete with references to the "Kentucky Derby" and "Churchill Downs." A group tied to the industry, Louisvilles Churchill Downs in particular, spent $348,263 this legislative session to lobby for passage of House Bill 594, according to the Kentucky Legislative Ethics Commission. Churchill Downs Incorporated Promotes Brad Blackwell to Senior Vice President and General Counsel. This concludes today's conference call. In addition, we are building a significantly larger HRM facility in Dumfries, which is located in Northern Virginia, approximately 30 miles south of Washington, D.C., also directly off of Interstate 95. Get free summaries of new Ninth Circuit US Court of Appeals opinions delivered to your inbox! General (Operator Instructions) As a reminder, this conference call is being recorded. Unlike the last (Attorney General) Andy Beshear, he has defended Kentuckys laws, not attacked them. counsel Churchill Downs, Inc. customer service General Counsel Dennis Mullen said commission staff reviewed statutes and regulations and found the commission did not need to formally approve the location change. We hope to get the opportunity to do it. Our challenge in the state are -- across all our facilities there were limited to 5,000 machines. And Churchill Downs and Mr. Carstanjen knew full well that imposing its suspension, based on zero factual or legal support, would give illegitimate credibility to a View All Contacts Details Industries Casino Casual Games Gaming Internet Racing Social Media Headquarters Regions Southern US Founded Date May 1, 1875 And we're up for it, though. 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. Media Alert That bill took a rocky path towards final passage, particularly in the House where a surprise motion to table held it up. See Wash. Rev. Good morning, and welcome to our first quarter 2023 earnings conference call. There was a problem saving your notification. r*RS Wv%j|E9qq0g_uF And then separately, just on the HRM content side of things. 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. The Cordish Companies' origins date back to 1910 and encompass four generations of privately-held, family ownership. (Operator Instructions) As a reminder, this Contacting Justia or any attorney through this site, via web form, email, or otherwise, does not create an attorney-client relationship. UPDATE 2-JP Morgan to buy First Republic's assets and assume deposit base, JP Morgan to buy First Republic's assets and assume deposit base, Morgan Stanleys Wilson Says Hawkish Fed Surprise to Roil Stocks, Australian 7-Eleven franchise puts 700-store chain up for sale, UPDATE 1-Sudan conflict shows no sign of easing, Sudanese brace for more violence. It's an area of significant strategic focus for us to think about how to improve the floors and what product is out there of various types that would help us shape the floor. And if you cannot join us in person, please be sure to watch the NBC broadcast beginning at noon Eastern Time. 4 0 obj Apply to Senior Counsel, Senior Corporate Counsel, Legal Assistant and more! <> So the Northern Kentucky market is the Cincinnati region. General counsel Jobs in Louisville, KY (WTHI) - If you've driven down Margaret Avenue in Terre Haute, you've probably seen crews working on the Queen of Terre Haut, Churchill Downs executives explained that there will be public parking along three sides of the building. So initial signs prior to those events, I found encouraging but not the sort of thing that we should use this call to drill deeply into. I want to start in Virginia. v. Blackwell, 388 F.3d 547, 553 (6th Cir. We're not seeing material changes that we have to respond to. But right now, we've deployed 2,700, but we will get to 5,000 relatively quickly as we expand our footprint. Churchill Downs Location 600 N Hurstbourne Pkwy Ste 400, Louisville, Kentucky, 40222, United States All good. Q1 2023 Churchill Downs Inc Earnings Call JLL names Alan Tse general counsel Code 9.46.0237. And every quarter is better than the last -- and I thought we showed great, great improvement between our opening last year and the first quarter of this year. And in that region, you have Ohio, Indiana and Kentucky, all coming to meet with orders. She also has a certification in ICGIP Gaming Anti-Money Laundering Specialist. her husband Joe Craft had contributed $1.5 million, mostly supported by the Concord Fund via $1.5 million in contributions, where a surprise motion to table held it up, working as legal counsel for another large company, Beshear and the Kentucky Democratic Party have received $140,000. Jason Sauer, Senior Vice President of Corporate Development, said Churchill Downs hopes to break ground as early as late May. There's been more concern, I think, across the market on the health of the consumer. Those are a series of steps that we're processing through.
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