Churchill Downs Incorporated Conducts 2009 Annual Meeting

Churchill Downs Incorporated ("Company”) (NASDAQ: CHDN) conducted its annual meeting of shareholders today at Churchill Downs racetrack. During the meeting, Company shareholders conducted an election of directors and approved proposals related to management performance goals and incentives, as well as ratification of the appointment of PricewaterhouseCoopers as the Company’s independent registered public accounting firm for the fiscal year of 2009. Shareholders also ratified the appointment of James F. McDonald and R. Alex Rankin as Class II directors, serving terms expiring at the Company’s 2010 annual meeting of shareholders.

The four Class I directors elected for three-year terms are as follows:

• Leonard S. Coleman Jr., retired senior advisor, Major League Baseball;
• Craig J. Duchossois, chief executive officer and director, The Duchossois Group, Inc.;
• Robert L. Evans, president and chief executive officer, Churchill Downs Incorporated; and
• G. Watts Humphrey Jr., president, GWH Holdings Inc.

Following the annual meeting, the Company’s board of directors conducted its quarterly meeting.

Churchill Downs Incorporated ("Churchill Downs”), headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. Churchill Downs’ four racetracks in Florida, Illinois, Kentucky and Louisiana host many of North America’s most prestigious races, including the Kentucky Derby and Kentucky Oaks, Arlington Million, Princess Rooney Handicap and Louisiana Derby. Churchill Downs racetracks have hosted seven Breeders’ Cup World Championships. Churchill Downs also owns off-track betting facilities and has interests in various advance-deposit wagering, television production, telecommunications and racing services companies, including a 50-percent interest in the national cable and satellite network HorseRacing TV™, that support the Company’s network of simulcasting and racing operations. Churchill Downs trades on the Nasdaq Global Select Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.