Churchill Downs Incorporated Appoints Douglas C. Grissom as New Board Member
July 26 2017 - 4:35PM
Churchill Downs Incorporated (NASDAQ:CHDN) (CDI or the Company)
announced today that Douglas C. Grissom, a Managing Director for
Madison Dearborn Partners, LLC, was appointed as a Class III
director to the Company’s board of directors, filling the current
vacancy in that class of directors.
Grissom will serve on the board for the remainder of the full
term of the Class III directors, which expires in 2020. Prior to
Madison Dearborn Partners, LLC, Mr. Grissom was with Bain Capital,
McKinsey & Company and Goldman Sachs.
Grissom graduated with a B.A. from Amherst College and an M.B.A.
from Harvard Business School.
About Churchill Downs Incorporated
Churchill Downs Incorporated (CDI) (NASDAQ:CHDN), headquartered
in Louisville, Ky., is an industry-leading racing, gaming and
online entertainment company anchored by our iconic flagship event
- The Kentucky Derby. We are a leader in brick-and-mortar
casino gaming with approximately 10,090 gaming positions in eight
states, and we are the largest legal online account wagering
platform for horseracing in the U.S., through our ownership of
TwinSpires.com. We are also one of the world's largest producers
and distributors of mobile games through Big Fish Games, Inc.
Additional information about CDI can be found online at
www.churchilldownsincorporated.com.
Information set forth in this press release contains various
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. The Private Securities Litigation
Reform Act of 1995 (the “Act”) provides certain “safe harbor”
provisions for forward-looking statements. All
forward-looking statements made in this press release are made
pursuant to the Act.
The reader is cautioned that such forward-looking statements are
based on information available at the time and/or management’s good
faith belief with respect to future events, and are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
statements. Forward-looking statements speak only as of the
date the statement was made. We assume no obligation to
update forward-looking information to reflect actual results,
changes in assumptions or changes in other factors affecting
forward-looking information. Forward-looking statements are
typically identified by the use of terms such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,”
“plan,” “predict,” “project,” “seek,” “should,” “will,” and
similar words, although some forward-looking statements are
expressed differently.
Although we believe that the expectations reflected in such
forward-looking statements are reasonable, we can give no assurance
that such expectations will prove to be correct. Important
factors that could cause actual results to differ materially from
expectations include the following: the effect of economic
conditions on our consumers' confidence and discretionary spending
or our access to credit; additional or increased taxes and fees;
public perceptions of integrity or other lack of confidence in our
business; loss of key or highly skilled personnel;
restrictions in our debt facilities limiting our flexibility to
operate our business; general risks related to real estate
ownership, including fluctuations in market values and
environmental regulations; catastrophic events and system failures
disrupting our operations, including the impact of natural and
other disasters on our operations and our ability to obtain
insurance recoveries in respect of such losses; inability to
identify and complete acquisition, expansion or divestiture
projects on time, on budget or as planned; difficulty in
integrating recent or future acquisitions into our operations;
legalization of online real money gaming in the United States, and
our ability to capitalize on and predict such legalization;
inability to respond to rapid technological changes in a timely
manner; adverse infringement of the intellectual property of
others; inability to protect our own intellectual property rights;
security breaches and other security risks related to our
technology, personal information, source code and other proprietary
information, including failure to comply with regulations and other
legal obligations relating to receiving, processing, storing and
using personal information; payment-related risks, such as
chargebacks for fraudulent credit card use; compliance with the
Foreign Corrupt Practices Act or applicable money-laundering
regulations; work stoppages and labor issues; difficulty in
attracting a sufficient number of horses and trainers for full
field horseraces; inability to negotiate agreements with industry
constituents, including horsemen and other racetracks; personal
injury litigation related to injuries occurring at our racetracks;
the inability of our totalisator company, United Tote, to maintain
its processes accurately, keep its technology current or maintain
its significant customers; weather conditions affecting our ability
to conduct live racing; increased competition in the horseracing
business; changes in the regulatory environment of our racing
operations; declining popularity in horseracing; seasonal
fluctuations in our horseracing business due to geographic
concentration of our operations; increased competition in our
casino business; changes in regulatory environment of our casino
business; development and expansion of casinos is costly and
susceptible to delays, cost overruns and other uncertainties;
concentration and evolution of slot machine manufacturing and other
technology conditions that could impose additional costs; impact of
further legislation prohibiting tobacco smoking; geographic
concentration of our casino business; changes in regulatory
environment for our advanced deposit wagering business; increase in
competition in the advanced deposit wagering business; inability to
retain current customers or attract new customers to our advanced
deposit wagering business; uncertainty and changes in the legal
landscape relating to our advanced deposit wagering business;
failure to comply with laws requiring us to block access to certain
individuals could result in penalties or impairment in our ability
to offer advanced deposit wagering; operating in an evolving and
highly competitive market related to our Big Fish Games; inability
to maintain relationships with third party mobile platforms related
to our Big Fish Games; failure to develop and publish mobile games
that achieve market acceptance; inability to secure new or ongoing
content from third party development partners on favorable terms;
programming errors or flaws or other technical difficulties,
diminishing our customers’ experience; “cheating” programs, scam
offers, black-markets and other actions by third parties that seek
to exploit our games and players may affect our reputation and harm
our operating results; slower than expected growth in use of
smartphone and tablet devices to facilitate game platforms; and
financial volatility quarter-to-quarter relating to our Big Fish
Games.
Contact: Lauren DePaso
(502) 636-4506
Lauren.DePaso@kyderby.com
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