churchill downs general counsel

After the company's prepared remarks, we will open the call for your questions. Despite a slight decline in adjusted EBITDA, we are pleased with the strong margins that this business delivered in first quarter. So we're very excited to see the first real milestone of that, though, around the Kentucky Derby. David, yes, we can put these in our racetracks and also our HRM extensions. It's been quite a while for the people of Vigo County for this casino to get off the ground.". R*_m0hyb##G>.$qW;f.p7"RXA3!R vj\~s`\_-t#JM}QAMChL 1@j6T{fIp!#-x6~.l^U#j=x_=$D/JCJggl~R~i!cT/A? endobj Good to hear. Apply to Senior Counsel, Counsel, Associate Attorney and more! And we think given the -- while not precisely counted clearly a huge number of these machines all around us that it's likely to have a positive impact when they go away on legal authorized gaming. And in that region, you have Ohio, Indiana and Kentucky, all coming to meet with orders. Second, regarding our TwinSpires horseracing business, our overall handle was higher in the first quarter than the prior year. As Bill shared, we delivered record first quarter revenue and adjusted EBITDA. For similar reasons, the Court must also deny Plaintiff's motion for a temporary restraining order. So we have an approach. LOUISVILLE, Ky. (Wednesday, March 1, 2017) Churchill Downs Counsel Churchill Downs, Inc. Phone Number | Call Now & Shortcut to Rep The CDI Legal Department is looking for an experienced and motivated attorney to join our team as However, Section I-D of the Consent Decree introduces significant ambiguity into the document. Got it. She will also work closely with The Cordish Companies corporate development team on new projects. Media Alert Fruition of the project is still something that's not measured in 2023 time frame or probably even 2024. And so I follow that data personally very, very carefully. Camerons gubernatorial campaign manager Gus Herbert indicated the same. So it's part of the chess game of how to maximize the utilization of these machines so that we maximize our margins in the state. Churchill Downs' Waldrop Becomes Chief Lobbying Strategist Ultimately, our real challenge in the State of Virginia is the number of machines we have and we have 10 places we can move those machines around based on the competitive environment. There will be three entrances for gu. There wasn't a fully accurate count of how many of these were, but I think it's fair to say there were several times the number of these of actual -- compared to actual HRM machines and license authorized facilities like the ones we run. And the thesis that we have here is that many of our customers will enjoy a bet on the Kentucky Derby or on horse racing, but we never managed to reach those customers with our TwinSpires offering. Employees Int'l Union, Local 1199 v. Blackwell, 467 F.3d 999, 1009 (6th Cir. This is an extremely important project because of its proximity to the significant population in Northern Virginia Interstate 95 corridor. Current Wait: 4 mins (4m avg) Hours: 24 hours, 7 days; best time to call: 10:45am. 3 0 obj Palmetto Executive Team - Omar Amin Bio View All Contacts Details Industries Casino Casual Games Gaming Internet Racing Social Media Headquarters Regions Southern US Founded Date May 1, 1875 And on the subject of HRM facilities, one of the issues that comes up regularly with investors is the degree to which those HRM facilities can perform, right, whether an HRM machine, how it compares with the traditional regular slot machine, whether there's any noticeable difference in consumer spend or behaviors or any of those sorts of things? WebPresident, Corporate & General Counsel Omar Amin is the President, Corporate, Chief Development Officer, and General Counsel at Palmetto responsible for the Companys Churchill Downs looks ahead with plans for casino on the east side, Officials break ground on new Terre Haute casino, Crews bring in the cranes as Terre Haute casino work continues, Churchill Downs site plan for the east side of Terre Haute, Zoning board approves variance for casino, hotel, "Our town is not fine" One Local Man Gives Back to Hometown Destroyed By Storms, Rubber duck season has started in the Wabash Valley - here's how you can adopt one and help a good cause, Officials identify the man who died in Labor Day drowning in Sullivan County, Murder charges filed against mother, brother of dumped boy, Library connecting community through the 'Big Read', Indiana zoos 3 surviving penguins improve after deaths of 6 others, Create a new subdivision plat that combines the two properties into one new parcel, Rezone the property from its current agricultural use to a commercial use, Obtain a variance to exceed 125 in height which is required on any site in Terre Haute, Receive approval from the FAA given the proximity to the airport, March 17 Terre Haute Board of Zoning Appeals Height Variance Approval Meeting, April 6 Vigo County Area Plan approves Subdivision Plat, Target closing on the property in April or May after all land-use approvals have been obtained, including the FAA permit. Brad Blackwell, Churchill Downs Incorporated: Profile and Thank you, Andrew. 2 0 obj Make your practice more effective and efficient with Casetexts legal research suite. Other than as I disclosed in my prepared remarks, where we decided of our own volition that we could do better in Owensboro and select a better site that would serve us better long term. ui. f Za:Kx U/z-{H%fkfUEHp2|.[I(h8m See EEOC v. Local 638, Local 28 of Sheet Metal Workers' Int'l Ass'n, 753 F.2d 1172, 1178 (2d Cir. Considering that Defendants could have faced significant damages if they were found liable in the underlying action, it is not entirely inconceivable that Defendants would give up their rights under trademark law. Defendant Doug Dearen and Churchill Downs Assistant General Counsel Shawn Bailey corresponded several times over the next week as Dearen attempted to comply with Churchill Downs' requests, at least in part. The Ninth Circuit reversed the dismissal of a purported class action against Churchill Downs alleging violations of Washington's Recovery of Money Lost (RMLGA) at Gambling Act and Consumer Protection Act, and unjust enrichment. Plaintiff Churchill Downs Incorporated ("Churchill Downs") has moved for an order of contempt and for a temporary restraining order against Defendants Doug Dearen and Thoroughbred Traditions, Inc. (collectively "Defendants"). Ub%RUFi1I@Xb (M'lQV4,o==*4MbI*Z6JMR[ 5AzT Churchill Downs is part of the Gambling & Gaming industry, and located in Kentucky, United States. ." 16-35010 (9th Cir. We generated $204 million of free cash flow in the first quarter, up $79 million over the prior year, primarily as a result of the strong cash flow generated from our businesses. Churchill Downs initiated this litigation in March 2002. A copy of this release announcing results and other financial and statistical information about the period to be presented in this conference call, including information required by Regulation G, is available at the section of the company's website titled, News, located at churchilldownsincorporated.com as well as in the website's Investors section. Churchill Downs Chad Riney Current Workplace Chad Riney has been working as a Senior Counsel at Churchill Downs for 4 years. While our focus is on hosting a special Kentucky Derby 149, we are also kicking off our year-long celebration in preparation for the 150th Kentucky Derby in May of 2024. We bring the advantage of being the only gaming on our side of the Ohio River, but it is a very competitive developed market. There's always weather events from prior year or other things like that, that can affect them. We also had nice growth in our Northern Kentucky market as Turfway Park and Newport Gaming continued to improve and expand their market presence during the first quarter. I'll unpack that one at a time. Churchill Downs, Kentucky Derby, Kentucky Oaks, the twin spires design, and Churchill Downs Incorporated related trademarks are registered trademarks of You are looking up Churchill Downs, Inc. customer care, so you probably already know who they are. In 2023 campaigns, individuals tied to Churchill Downs have given large sums of money to incumbent Democratic Gov. Are there still opportunities to kind of improve the floor, whether it's diversification or overall content, obviously, understanding that the exact acquisition is pending. 1985), aff'd, 478 U.S. 421 (1986). So getting that product converted for ours will always be something we're working on. What are you guys seeing across your businesses? First, all of our HRM properties made strong contributions to our financial results in first quarter. But it was a collective view of many, including us, and including the legislature that they were really harming and multiplying across the state. Get free summaries of new Ninth Circuit US Court of Appeals opinions delivered to your inbox! Full title:CHURCHILL DOWNS INCORPORATED PLAINTIFF v. DOUG DEAREN and THOROUGHBRED, Court:United States District Court, W.D. 1996). Churchill Downs Location 600 N Hurstbourne Pkwy Ste 400, Louisville, Kentucky, 40222, United States Description Industry Gambling & Gaming Recreation Churchill Downs entered two definitive contracts for those properties - the first on February 14, and the second on March 7. Alternatively, it could mean that Defendants cannot use the Marks in any way that would mislead consumers into believing that Churchill Downs is affiliated with Defendants' businesses and activities except as permitted by law. In our organization, we track a lot of data and we look at it constantly. We have announced a number of new guest experiences and ticket offerings that will be available for this very special Kentucky Derby. Regarding maintenance capital, we spent $12 million in the first quarter and continue to expect to spend $75 million to $95 million in total for the year. However, commission staff asked Churchill Downs to offer an update due to the importance of the change. And I think the proof will be in the pudding, though, and we're very close to starting to see some of that proof. I feel really good about our margins and our ability to sustain and improve as we do the exact transaction. The phrase "except as permitted by law" is difficult to interpret. Executives with Churchill Downs say elected officials, citizens, and other stakeholders urged them to build on the east end. A member of House GOP leadership who voted against the bill was working as legal counsel for another large company in the industry, the Herald-Leader reported. Our Virginia properties contributed $98 million of net revenue and $47 million of adjusted EBITDA in the first quarter. And as a company that's driven first and foremost by margins, I think you see the evidence of that and see why we're excited about it. Our existing regional gaming properties in Maine, Maryland, Louisiana and our Harlow's property in Mississippi, collectively delivered a small increase in adjusted EBITDA compared to the prior year quarter that was more than offset by declines at our Pennsylvania and Florida properties and our Riverwalk property in Mississippi. Churchill Downs Racetrack President: Mike Anderson Churchill Downs Incorporated General Counsel: Neal Curtis Bugler: Steve Buttleman Format: 2:03-2:06 p.m. Introduction (Buttleman Call to the Post / Stone) 2:06-2:09 p.m. Moving to Virginia. HRM entertainment facilities in Kentucky will soon benefit from the passage in the first quarter of legislation, allowing retail sports and online betting across the Commonwealth. But there's no cause for alarm here, things generally look pretty solid across the whole portfolio. That's just a function of how Kentucky law works. Executives from Churchill Downs presented to the Indiana Gaming Commission on Tuesday. Kater v. Churchill Downs Inc., No. 16-35010 (9th Cir. 2018) So this is the fifth license that the city of Richmond has awarded the partnership. }d3a0nS($DA]jjCDFeOp^dsY uD8-X._g1JEt&zo}D2t}? .%9|NR0Y4~4A\mw%*oLRk46(]]XzwZJ7Z;H{/gMGimb1;7CWf4jD|okva#oEW^-qHN| 'g Yq?0h|9cq;(CB9dNWwV5E5psmYrIw8 '+I W Executive Leadership We're just going to execute as we have been executing. We read everything everybody else does as well. W{@]/`XyNfUh\sNsN.uzylq3u(grvNgS\:"o6x p^0`at*$ TERRE HAUTE, Ind. WebMr. Ms. Beeding holds gaming licenses in several jurisdictions and is a member of the Mississippi Bar. Churchill Downs Incorporated Promotes Brad Blackwell to Prior to joining Cordish Gaming Group, Ms. Beeding served as Vice President, Senior Counsel and Corporate Compliance Officer at Churchill Downs Incorporated in Louisville, KY, where she was responsible for overseeing and managing compliance across the company's casinos, racinos, racetracks and interactive verticals, including the company's online ADW, interactive sports books and interactive casinos. Ryan Jordan, SeniorVice Presidentof Real Estate Development, told the Indiana Gaming Commission that the original plan called for a $240 million project, but based on other projects, they've updated that range to up to $260 million. On April 5, 2007, Churchill Downs sent a letter to Defendants, stating that Churchill Downs was aware of the use of these Marks on the www.derbybox.com Web site, that Defendants could not use the Marks without permission, and that Defendants were violating the Consent Decree. First, I want to touch on the Kentucky, the gray market. (WTHI) - Churchill Downs is moving forward with its plans for a casino on the east side of Terre Haute. The Court has no reason to believe that the website has changed significantly in its use of the Marks "Kentucky Derby" and "Churchill Downs" since January 6, 2003. And we're up for it, though. Executives say the broader area around the revised site off Exit 11 has been planned to accommodate further development. Churchill Downs, Inc. customer service Under Kentucky law, extrinsic evidence may not vary the terms of an unambiguous contract. See Brad Blackwell's compensation, career history, education, & memberships. PACs like Bluegrass Freedom Action and the campaigns they support are barred by state law from coordinating, a subject that drew the attention of the Kentucky Registry of Finance when a finance report for a PAC supporting fellow GOP gubernatorial candidate Kelly Craft showed that her husband Joe Craft had contributed $1.5 million. We're on a pathway to do that. Northeast Ohio Coal. The parties litigated the matter vigorously for several months before reaching a settlement. A court's inherent power to hold a party in civil contempt may be exercised only when (1) the order the party allegedly failed to comply with is clear and unambiguous, (2) the proof of noncompliance is clear and convincing, and (3) the party has not diligently attempted in a reasonable manner to comply. We are extremely excited about this project. And I think this is one of those things where I can tell you that I paid a lot of attention to the TwinSpires business since the day it was conceptualized and became a real thing. William Bill C. Carstanjen was named the Companys 12th Chief Executive Officer in August 2014 after serving as CDIs President and Chief Operating We'll try to be good stewards of your capital. Yes, there are challenges on labor. The remainder of the proceeds will be used for capital projects or for the Exacta transaction.And lastly, on Tuesday this week, our Board approved a 2-for-1 stock split and a corresponding proportionate increase to the authorized shares of the company. Summary. We obviously have a lot going on right now with the Kentucky Derby and all of our growth projects. Mr. Weinstein, who has announced his intent to retire in 2024, will work to ensure the smooth transition of all legal matters. Sharing is what powers GetHuman's free customer service contact information and tools. O.P. Counsel !%e iQR~gi( g$Z7')38+K&3(^C%fq4^10M!Cx6j:6Vl+*[sbr*-@ekt*P*JXBE+Dn0axf0[#O%pj _3r+Eg_w^moY/ But right now, we've deployed 2,700, but we will get to 5,000 relatively quickly as we expand our footprint. We hope to get the opportunity to do it. We did generate lower adjusted EBITDA from our online TwinSpires horseracing business as a result of higher content-related expenses and slightly higher ADW taxes in certain jurisdictions. And then separately, just on the HRM content side of things. Got it. They were unauthorized, unregulated and unmanaged by the state, and that's dangerous for a product like gaming. Thanks, Barry. For the purposes of this action, two terms of the Consent Decree are of particular importance: For more than four years after the parties entered into the Consent Decree, Defendants continued to operate www.derbybox.com, a Web site that advertised itself as "The undisputed Derby Ticket and Derby Travel Package Specialist." So an optimistic time for us, but the proof is going to be in the pudding, and we're happy to wait for that. We don't have enough machines ultimately. Big Fish Casino constituted illegal gambling under Washington law because its virtual chips were a " You're all set! We believe the B2B expansion related to our horseracing technology and related services will provide a further enhancement to our adjusted EBITDA and margins in the coming quarters. Magazine; News; Contact; ABOUT. Brad Blackwell, Senior Vice President and General Counsel, Some markets are better than others, but across a portfolio that is as broad and as diverse as ours, I don't have any yellow or red flags to raise with you at this time. In the last two years, Beshear and the Kentucky Democratic Party have received $140,000 from people tied to Churchill Downs, according to the Kentucky Lantern. Bradley Blackwell - Senior Vice Pres.. - Churchill Downs | ZoomInfo And so it's a really good thing. We have positioned our company for strong growth for years to come with the ongoing investments in the Kentucky Derby, the acquisition of the P2E assets, including the existing operational properties and our Virginia growth projects, our Terra Haute project in Indiana, our Salem, New Hampshire HRM project and other Kentucky HRM projects and the pending acquisition of Exacta Systems, which will greatly improve our Virginia, New Hampshire and Kentucky capabilities, all of which we expect to drive a material increase in adjusted EBITDA and free cash flow in the coming years. Thank you. Sure, Dan. Defendant Doug Dearen and Churchill Downs Assistant General Counsel Shawn Bailey corresponded several times over the next week as Dearen attempted to comply with Churchill Downs' requests, at least in part. By April 13, 2007, these negotiations had broken down and Churchill Downs filed this motion. As Executive Vice President and General Counsel, Ms. Beeding is responsible for all legal, regulatory and compliance affairs, including oversight of all Live! Prior to the Consent Decree, counsel for Churchill Downs sent a letter to Defendants' former counsel dated April 17, 2002. Great. WebCall Churchill Downs, Inc. customer service faster with GetHuman. General Cameron has always been a staunch advocate of defending the laws passed by the General assembly. General Counsel The Cordish Companies today announced two key executive hires to Cordish Gaming Group, the gaming division of the Company. As a consequence, the parties entered into a Consent Decree which this Court signed on January 6, 2003. Churchill Downs Ozair Shariff Current Workplace Ozair Shariff has been working as a Corporate Counsel at Churchill Downs for 2 years. The panel held that plaintiff Cheryl Kater stated a cause of action under Recovery of Money Lost at Gambling Act where she alleged that she lost over $1,000 worth of virtual chips while playing Big Fish Casino, and she could recover the value of those lost chips from Churchill Downs, as, Big Fish Casino constituted illegal gambling under Washington law because its virtual chips were a "thing of value.". Code 9.46.0237. Second, the proof of noncompliance is not clear and convincing, given the ambiguity of the Consent Decree. The use of the "Kentucky Derby" and "Churchill Downs" words as descriptive phrases for over four years could well suggest Plaintiff's understanding that such use did not violate the intended meaning of the Consent Decree. A distinguished attorney and leader with extensive experience in companies with global operations, he will be responsible for JLL's legal and compliance functions. And we're on a path. It's not material to the scale of the company or anything like that, but it will help each of these HRM properties not only from the contribution of the sports wagering piece, but from the additional traffic that it drives to the rest of the facility. Our capital projects to grow the scale and profitability of the Kentucky Derby will be supported by our continued ramp-up of sales efforts across the country as well as a more focused and strategic sales process in numerous foreign markets. This concludes today's conference call. We'll talk about that in more detail next quarter. And our next question comes from the line of Jordan Bender with JMP. We expect to see our B2B business accelerate in the second quarter with the Kentucky Derby. In deciding whether or not the requested injunctive relief is appropriate, the Court must consider four factors: "(1) whether the movant has a strong likelihood of success on the merits, (2) whether the movant would suffer irreparable injury absent a stay, (3) whether granting the stay would cause substantial harm to others, and (4) whether the public interest would be served by granting the [motion]." Live odds, betting, horse bios, travel info, tickets, news, and updates from Churchill Downs Race Track. The horse industrys influence in Frankfort runs deep, and has persisted for more than a century dating back to the power of the Jockey Club in the early 20th century. We will save any material investment in the HRM portion of Ellis Park until we complete and then evaluate its HRM extension in Owensboro to ensure these properties complement each other and are as efficient as possible from a customer offering and operational perspective. We will look to go live in our retail locations once regulators have promulgated all of the required regulations and operational standards. These are the initial steps to unleash what we think would be a really fantastic project. I know the economics are spread across a couple of different places, but just kind of help us think strategically about maybe where those partnerships sit at this stage. This performance is prior to any material improvements to the gaming floors at these properties that we expect to realize in the future. All of the covered stadium seats are sold and more than 3/4 of the indoor reserve seats are also sold with the remainder selling quickly each day. And Churchill Downs and Mr. Carstanjen knew full well that imposing its suspension, based on zero factual or legal support, would give illegitimate credibility to a This project will reinvent Churchill Downs racetrack and create unique once-in-a-lifetime experiences that will surpass anything like it anywhere in the United States. Churchill Downs Location 600 N Hurstbourne Pkwy Ste 400, Louisville, Kentucky, 40222, United States We have developed high-growth, high-margin investments in this segment with excellent returns on capital, and we will seek to build on that track record in Kentucky, Virginia, New Hampshire, Louisiana and perhaps beyond.
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