Nasdaq:CHDN

Churchill Downs Incorporated Announces Multi-Year Naming Rights Partnership Between Churchill Downs Racetrack and Sports Illustrated

Published

11 months ago

January 9, 2024

Club SI will Debut in New Paddock for 150th Kentucky Derby

LOUISVILLE, Ky., Jan. 09, 2024 (GLOBE NEWSWIRE) — Churchill Downs Incorporated (“CDI”) announced today a multi-year partnership between Churchill Downs Racetrack (“Churchill Downs”) and Sports Illustrated for exclusive naming rights of a new luxury dining experience, Club SI, ahead of the historic 150^th running of the Kentucky Derby on Saturday, May 4, 2024. Originally planned as the 1895 Club, Club SI is scheduled to debut on Opening Night of Derby Week and offer guests a modern, sophisticated race day experience.

Club SI will debut as part of the $200 million renovated Paddock Project at Churchill Downs for the upcoming 150^th Kentucky Derby and offer a new luxury equine-focused dining experience with an immersive view of the all-new Paddock and Paddock Runway giving guests unparalleled behind-the-scenes experiences. The interior design of Club SI will showcase iconic Sports Illustrated magazine covers, editorial featuring past Kentucky Derby races, and a sneak peek into Sports Illustrated’s new SI Resorts vertical. Each year, celebrity ambassadors will act as hosts for Club SI during the Kentucky Derby and the Kentucky Oaks for a premium race day experience. With a guest list that includes titans of the sports industry and appointed with iconic Sports Illustrated editorial artwork, Club SI will offer an elevated, exciting and more unique Derby weekend than ever available before.

The club will be open on premium race days and include dining tables to accommodate parties of two, four, six or eight guests who will enjoy gourmet dishes from the curated Chef’s Table Buffet, designated wagering windows, private bars and outdoor trackside viewing for live races. Steps from the club, guests will be treated to the SI Enclosure which will deliver a front-row experience of the Paddock with covered outdoor dining tables to accommodate parties of four.

“As we approach the 150^th Kentucky Derby, we are thrilled to partner with a brand as iconic as Sports Illustrated to offer guests an enhanced way to enjoy this incredible anniversary event,” said Mike Anderson, President of Churchill Downs Racetrack. “Sports Illustrated shares our goal of combining exciting sports moments with upscale entertainment, and Club SI will provide the perfect space to achieve this.”

“It is an honor to bring Club SI to Churchill Downs Racetrack, which has such a rich history that we’ve showcased through the pages of Sports Illustrated for decades,” said Michael Sherman, SVP Media Brands at Authentic Brands Group, owner of the Sports Illustrated brand. “Club SI will celebrate iconic elements of the brand, while hosting celebrity talent and offering guests gourmet cuisine and cocktails, a unique vantage point of the new Paddock, and a once-in-a-lifetime horse racing experience for Derby 150.”

About Churchill Downs Incorporated

Churchill Downs Incorporated (“CDI”, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. www.churchilldownsincorporated.com

About Churchill Downs Racetrack

Churchill Downs Racetrack (“CDRT”), the world’s most legendary racetrack, has been the home of The Kentucky Derby, the longest continually held annual sporting event in the United States, since 1875. Located in Louisville, CDRT features a series of themed race days during Derby Week, including the Kentucky Oaks, and conducts Thoroughbred horse racing during three race meets in the Spring, September, and the Fall. CDRT is located on 175 acres and has a one-mile dirt track, a 7/8-mile turf track, a stabling area, and provides seating for approximately 60,000 guests. The stable area has barns sufficient to accommodate 1,400 horses and a 114-room dormitory for backstretch personnel. CDRT also has a year-round sports book and simulcast wagering facility. www.ChurchillDowns.com.

About Sports Illustrated

Sports Illustrated (SI) is an unparalleled and influential leader recognized for shaping modern culture and uniting athletes, teams and fans worldwide. At the intersection of sports, lifestyle and entertainment, Sports Illustrated is a 360-degree enterprise that delivers immersive content, innovative digital experiences, unforgettable events, and original products. Its award-winning media arm brings powerful storytelling to life through probing profiles and up-to-date news on SI.com, across social media platforms and through the monthly print magazine. The most trusted name in sports transcends media through SI Resorts, the ultimate destination for active lifestyles & sports enthusiasts, SI Tickets, a fan-first ticketing platform, SI Sportsbook, a digital sports betting platform, SI Studios, the brand’s home for film, TV, and podcasts, and more. SI brings its unique perspective to marquee events and captivating brand activations including the Sportsperson of the Year Awards, SI’s “The Party”, SI Swimsuit Launch Weekend, and the SI Circuit Series.

For more information, visit SI.com.

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About Authentic Brands Group

Authentic Brands Group (Authentic) is a global brand development, marketing and entertainment platform, which owns a portfolio of more than 50 iconic and world-renowned Lifestyle, Entertainment and Media brands. Headquartered in New York City, with offices around the world, Authentic connects strong brands with best-in-class partners and a global network of operators, distributors and retailers to build long-term value in the marketplace. Its brands generate more than $29 billion in global annual retail sales and have an expansive retail footprint in 150 countries, including 13,100-plus freestanding stores and shop-in-shops and 370,000 points of sale.

Authentic is committed to transforming brands by delivering powerful storytelling, compelling content, innovative business models and immersive experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms and emerging media. Authentic’s brand portfolio includes Marilyn Monroe®, Elvis Presley®, Muhammad Ali®, Shaquille O’Neal®, David Beckham®, Dr. J®, Greg Norman®, Neil Lane®, Thalia®, Sports Illustrated®, Reebok®, Brooks Brothers®, Barneys New York®, Judith Leiber®, Ted Baker®, Hunter®, Vince®, Hervé Léger®, Hickey Freeman®, Frye®, Nautica®, Juicy Couture®, Vince Camuto®, Lucky Brand®, Aéropostale®, Forever 21®, Nine West®, Rockport®, Eddie Bauer®, Boardriders®, Quiksilver®, Billabong®, Roxy®, DC Shoes®, RVCA®, Element®, VonZipper®, Honolua®, Spyder®, Volcom®, Shark®, Tretorn®, Prince®, Airwalk®, Izod®, Jones New York®, Van Heusen®, Hart Schaffner Marx®, Arrow® and Thomasville®.

For more information, visit corporate.authentic.com.

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This news release contains various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” and similar words or similar expressions (or negative versions of such words or expressions).

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 following: the occurrence of extraordinary events, such as terrorist attacks, public health threats, civil unrest, and inclement weather, including as a result of climate change; the effect of economic conditions on our consumers’ confidence and discretionary spending or our access to credit, including the impact of inflation; additional or increased taxes and fees; the impact of any pandemics, epidemics, or outbreaks of infectious diseases, including the impact of any future developments related to COVID-19, and related economic matters on our results of operations, financial conditions and prospects; lack of confidence in the integrity of our core businesses or any deterioration in our reputation; loss of key or highly skilled personnel, as well as general disruptions in the general labor market; the impact of significant competition, and the expectation the competition levels will increase; changes in consumer preferences, attendance, wagering, and sponsorships; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine and historical racing machine (HRM) manufacturing and other technology conditions that could impose additional costs; failure to enter into or maintain agreements with industry constituents, including horsemen and other racetracks; inability to successfully focus on market access and retail operations for our TwinSpires Sports and Casino business and effectively compete; online security risk, including cyber-security breaches, or loss or misuse of our stored information as a result of a breach including customers’ personal information could lead to government enforcement actions or other litigations; reliance on our technology services and catastrophic events and system failures disrupting our operations; inability to identify, complete, or fully realize the benefits of our proposed acquisitions, divestitures, development of new venues or the expansion of existing facilities on time, on budget, or as planned; difficulty in integrating recent or future acquisitions into our operations; cost overruns and other uncertainties associated with the development of new venues and the expansion of existing facilities; general risks related to real estate ownership and significant expenditures, including risks related to environmental liabilities; personal injury litigation related to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or other similar laws and regulations, or applicable anti-money laundering regulations; payment-related risks, such as risk associated with fraudulent credit card or debit card use; work stoppages and labor problems; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions in our debt facilities limiting our flexibility to operate our business; failure to comply with the financial ratios and other covenants in our debt facilities and other indebtedness; increases to interest rates (due to inflation or otherwise), disruption in the credit markets or changes to our credit ratings may adversely affect our business; increase in our insurance costs, or inability to obtain similar insurance coverage in the future, and any inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; and other factors described under the heading “Risk Factors” in our most recent Annual Report on Form 10-K and in other filings we make with the Securities and Exchange Commission.

We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.