Friday, May 08, 2009

Is Churchill Downs throwing the horse industry under the bus?

Churchill Downs is having its commitment to live racing questioned by some investors and analysts. Here is the Courier-Journal's report on a conference call where CEO Bob Evans tried to argue that the company isn't abandoning racing.

Only problem is horsemen are mad at them for the company's penchant for trying to squeeze horse owners and trainers.

And this is one of the companies that gives lectures to people like myself about how we need more mechanized gambling to support the horse industry. But it's looking more like mechanized gambling, where there are more profits, isn't the company's salvation, but its undoing.

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