In Case You Wondered What Churchill Downs Thought Of Horse Racing...
From the 'Actions Speak Louder Than Words" Dept.:
Churchill Downs was involved in a transaction today that demonstrated clearly that they do not feel the company's future growth has anything to do with the horse industry.
Churchill Downs Inc. announced Monday that it is buying a Mississippi casino resort hotel along the Mississippi River for $138 million.
Closing is expected within six months.
It would be the Louisville-based racetrack and gambling company's first property not affiliated with a racetrack and represents a continuation of its diversification strategy, CEO Bob Evans said in a statement.
If even the Kentucky Derby company is diversifying away from the horse industry, what's that tell you about the future of horse racing as an entertainment venture?
