[-BT-]

MIAMI GARDENS, Fla.--(BUSINESS WIRE)--April 22, 2008--
Calder Race Course today announced that due to the Florida Horsemen's
Benevolent and Protective Association's refusal to approve the distribution of
Calder races to out-of-state wagering outlets, including advance-deposit
wagering ("ADW") companies, the racetrack has been forced to cut purses by 30
percent, effective Sunday, April 27. The purse reductions will affect a variet
of race conditions, including stakes races.

"The Florida horsemen's refusal to allow out-of-state wagering on Calder's
races has left us with no option but to cut purses now in order to offset the
amount of handle both Florida horsemen and Calder will lose every day that
Florida horsemen refuse to send Calder's signal out of state," said Steve
Sexton, executive vice president of Churchill Downs Incorporated, Calder's
parent company. "Florida horsemen have chosen to single out and penalize
Calder, as well as customers around the country who enjoy wagering on Calder's
races. We find that hard to understand when TrackNet Media Group, which
negotiates simulcast sales for both Churchill Downs- and Magna-owned
racetracks, has nearly doubled the ADW host fee rate paid to horsemen in
Florida compared to last year." Currently, the only wagering outlets permitted to accept wagers on Calder
races are simulcast outlets within the state of Florida and New York Off-Track
Betting ("NYOTB") facilities. On April 21, Florida horsemen gave their consent
to allow NYOTB to accept wagers on Calder races. The Isle Casino & Racing at
Pompano Park, a casino and harness racetrack in Pompano Beach, Fla., is not
receiving Calder's signal because no cross-simulcasting agreement exists
between Calder and that facility.

Sexton said the purse cut would not affect the first-ever Calder Turf
Million, scheduled for Saturday, April 26. "Several stables have already
shipped in horses to compete in Saturday's Turf Million, and we don't want to
inconvenience those horsemen by reducing purses for Saturday's card so close to
the event," Sexton noted. "We hope for the sake of our customers that Florida
horsemen will revisit their position on this matter."