Churchill Downs Incorporated Board of Directors Increases Annual Dividend for Shareholders

Churchill Downs Incorporated Board of Directors Increases Annual Dividend for
Shareholders

Dividend Increases 21 Percent to 87 Cents Per Share of CDI's Common Stock

LOUISVILLE, Ky., Oct. 29, 2013 (GLOBE NEWSWIRE) -- Churchill Downs
Incorporated (CDI or the Company) (Nasdaq:CHDN), announced today an annual
dividend of 87 cents per share, a 21 percent increase over prior year, on
CDI's common stock, payable Jan. 6, 2014, to shareholders of record on Dec. 6,
2013.

CDI Chairman and Chief Executive Officer Robert L. Evans said, "This is the
third year in a row the Company has increased the dividend by at least 20
percent, demonstrating our continued commitment to increasing shareholder
value. The board of directors elected to increase this year's annual dividend
payment to 87 cents per share of common stock, from the 72 cents per share
dividend from 2012 based on the company's year-to-date performance. On behalf
of our board of directors and the management team, I would like to thank our
shareholders for their continued investment in our Company."

ABOUT CHURCHILL DOWNS INCORPORATED

Churchill Downs Incorporated (CDI) (Nasdaq:CHDN), headquartered in Louisville,
Ky., owns and operates the world-renowned Churchill Downs Racetrack, home of
the Kentucky Derby and Kentucky Oaks, as well as racetrack and casino
operations and a poker room in Miami Gardens, Fla.; racetrack, casino and
video poker operations in New Orleans, La.; racetrack operations in Arlington
Heights, Ill.; a casino resort in Greenville, Miss.; a casino hotel in
Vicksburg, Miss.; and a casino hotel in Oxford, Maine; CDI also owns the
country's premier online wagering company, TwinSpires.com; the totalisator
company, United Tote; Luckity.com, offering fun games online for a chance to
win cash prizes; Bluff Media, an Atlanta-based multimedia poker company; and a
collection of racing-related telecommunications and data companies. In
addition, CDI's 50 percent owned joint venture, Miami Valley Gaming and Racing
LLC, is currently constructing a video lottery terminal and harness racing
facility in southwest Ohio. Additional information about CDI can be found
online at www.churchilldownsincorporated.com.

Information set forth in this news 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 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," "hope," "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 effect of global economic
conditions, including any disruptions in the credit markets; a decrease in
consumers' discretionary income; the effect (including possible increases in
the cost of doing business) resulting from future war and terrorist activities
or political uncertainties; the overall economic environment; the impact of
increasing insurance costs; the impact of interest rate fluctuations; the
effect of any change in our accounting policies or practices; the financial
performance of our racing operations; the impact of gaming competition
(including lotteries, online gaming and riverboat, cruise ship and land-based
casinos) and other sports and entertainment options in the markets in which we
operate; our ability to maintain racing and gaming licenses to conduct our
businesses; the impact of live racing day competition with other Florida,
Illinois and Louisiana racetracks within those respective markets; the impact
of higher purses and other incentives in states that compete with our
racetracks; costs associated with our efforts in support of alternative gaming
initiatives; costs associated with customer relationship management
initiatives; a substantial change in law or regulations affecting pari-mutuel
and gaming activities; a substantial change in allocation of live racing days;
changes in Kentucky, Florida, Illinois or Louisiana law or regulations that
impact revenues or costs of racing operations in those states; the presence of
wagering and gaming operations at other states' racetracks and casinos near
our operations; our continued ability to effectively compete for the country's
horses and trainers necessary to achieve full field horse races; our continued
ability to grow our share of the interstate simulcast market and obtain the
consents of horsemen's groups to interstate simulcasting; our ability to enter
into agreements with other industry constituents for the purchase and sale of
racing content for wagering purposes; our ability to execute our acquisition
strategy and to complete or successfully operate planned expansion projects;
our ability to successfully complete any divestiture transaction; market
reaction to our expansion projects; the inability of our totalisator company,
United Tote, to maintain its processes accurately, keep its technology current
or maintain its significant customers; our accountability for environmental
contamination; the ability of our online business to prevent security breaches
within its online technologies; the loss of key personnel; the impact of
natural and other disasters on our operations and our ability to obtain
insurance recoveries in respect of such losses (including losses related to
business interruption); our ability to integrate any businesses we acquire
into our existing operations, including our ability to maintain revenues at
historic levels and achieve anticipated cost savings; the impact of wagering
laws, including changes in laws or enforcement of those laws by regulatory
agencies; the outcome of pending or threatened litigation; changes in our
relationships with horsemen's groups and their memberships; our ability to
reach agreement with horsemen's groups on future purse and other agreements
(including, without limiting, agreements on sharing of revenues from gaming
and advance deposit wagering); the effect of claims of third parties to
intellectual property rights; and the volatility of our stock price.

CONTACT: Courtney Yopp Norris
         Director of Corporate Communications
         (502) 636-4564 office
         Courtney.Norris@kyderby.com
 
Press spacebar to pause and continue. Press esc to stop.