Churchill Downs history

Historical Markers #1885 and #2255 in Louisville note the location of Churchill Downs, the racetrack of the “Run for the Roses,” the famous Kentucky Derby.

In 1894, a group of investors headed by Louisville racehorse owner and bookmaker William F. Schulte purchased the failed track, incorporating as the New Louisville Jockey Club.

Workers added stately twin spires to the track in 1895, which became symbolic of Churchill Downs and the Kentucky Derby.

In 1902, Schulte's group of investors began looking for someone to take over the track, and in October of that year, they found their successors: Louisvillians Charles Grainger, Charlie Price, and Matt J. Winn.

Under Winn's and his colleagues' determined leadership, the track--which had failed to make money for 28 years--turned its first profit in 1903.

An anti-gambling reform movement, which had been gathering steam across the nation, swept into Louisville in 1907 when a new, reformist mayor was elected.

The machines proved to be very popular when they were unveiled; five times more money was wagered on the 1908 Derby than on the previous year's race.

In 1910, one of the first-ever flights in Kentucky took off from the infield of Churchill Downs, after aviator Glenn Curtiss assembled an airplane on the infield of the track.

In 1913, Donerail became the longest shot to win the Derby, paying $184.90 for a $2 bet.

1919-50: Acquisitions and Divestitures

Douglas Park was closed and eventually donated to the American Legion, while the Lexington track was sold to a group of local businessmen in 1923.

The Jockey Club decided to dissolve in December 1927, with the purpose of re-organizing.

In January 1928, the American Turf Association was formed as the new holding company for Churchill Downs and six other tracks.

In January 1937, the operating companies for Churchill Downs and Latonia Race Track were merged to create Churchill Downs–Latonia Incorporated.

Matt Winn moved from his position as vice-president and general manger to president of Churchill Downs in 1938, the year after the reorganization.

Business at Latonia declined, and it held its last races in 1939.

In 1942, the Latonia property was sold to Standard Oil of Ohio, and the operating company's name was changed to Churchill Downs, Incorporated.

The American Turf Association sold Lincoln Fields in 1947, leaving Churchill Downs as its only operation.

In April 1950, Churchill Downs, Inc., became an independent company, as its stock was distributed to shareholders of the American Turf Association, which then dissolved.

A major milestone occurred in 1952, when a CBS affiliate aired the first national telecast of the Derby.

Corum died in 1958, and his position was filled by Wathen Knebelkamp.

In 1960, speculation that Churchill Downs was targeted for a hostile stock takeover developed.

The tradition started in 1969, and now costs $55 to $110 per person.

1974:Under Stone’s leadership, the Derby celebrated its 100th running making a new record of 163,628 on hand.

In 1982, the track's board of directors voted to add racing days to the Spring Meet, extending it from 55 days to 93 days.

1984-99: Growth and Diversification

With the track once again pulling in record numbers of guests, Churchill Downs was chosen to host the 1988 Breeders' Cup--a much-publicized championship race begun four years earlier.

In 1991, Churchill Downs bought the struggling Louisville Downs harness track, which was closed and converted to a satellite wagering and training facility.

The first major diversification came in 1992, when the company opened the Sports Spectrum, a simulcast wagering facility located just seven miles from the track.

In 1994, Churchill Downs began to expand its holdings, with plans to partner with a new racetrack in Indiana.

In 1998, the company purchased Ellis Park Race Course, located in Henderson, Kentucky, and the Kentucky Horse Center training facility in Lexington, Kentucky.

In May 1999, the company announced an agreement to purchase the Hollywood Park Race Track and Hollywood Park Casino, located in Inglewood Park, California.

The racetrack has also hosted the famous Breeders' Cup on five occasions, most recently in 2000.

In April 2002, Churchill Downs Incorporated established the Green Pastures Program in partnership with the Thoroughbred Retirement Foundation, a leading American racehorse rescue and adoption organization.

In 2004, Churchill Downs Incorporated finalized the purchase of Fair Grounds Race Course.

In December 2006, Churchill Downs Inc. sold its remaining interest in Hoosier Park to Centaur Inc.

In the fall of 2007, Fair Grounds reopened to include a gaming facility adjacent to the track grandstand.

In 2008, a new mural was added to depict the winning trainers and jockeys each year.

And in 2009, Churchill Downs held its first night race.

The company acquired Harlow's Casino Resort in Greenville, Mississippi, in December 2010 for $138 million.

In October 2012, the company acquired the Riverwalk Casino and Hotel in Vicksburg, Mississippi for $141 million.

In July 2013, Churchill Downs bought the Oxford Casino in Oxford, Maine for $160 million.

In October 2014, Churchill agreed to purchase a 25 percent interest in Saratoga, and signed on to manage Saratoga Casino and Raceway, Saratoga Casino Black Hawk, and the proposed Capital View Casino & Resort.

The company partnered with Saratoga to purchase Ocean Downs, a harness racing track and casino in Maryland, in January 2017.

In September 2018, the company opened Derby City Gaming, a $65-million historical racing parlor, at the site of Louisville Downs.

In March 2019, Churchill Downs bought a 62 percent share in Rivers Casino Des Plaines, a few miles away from Arlington Park, from Neil Bluhm and his partners for $401 million.