CHURCHILL DOWNS LOGO Churchill Downs Incorporated Logo. (PRNewsFoto)[KC] LOUISVILLE, KY USA

    LOUISVILLE, Ky., Sept. 16 /PRNewswire-FirstCall/ --
    Robert L. Decker, executive vice president and chief financial officer for
Churchill Downs Incorporated (Nasdaq: CHDN) ("CDI"), will present to analysts
and investors at the Global Gaming Expo in Las Vegas, Nev. on Wednesday, Sept.
18, 2002. Decker's presentation during the Bear Stearns-sponsored financial
portion of the expo is scheduled for 9:30 a.m. PDT.
    (Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20000209/CHW004 )
    Interested parties may access notes from this presentation on the CDI Web
site, http://www.churchilldownsincorporated.com, beginning at 1 p.m. EDT on Sept. 18.
Decker will also participate on Tuesday, Sept. 17 as a panelist in one of the
conference's topical sessions titled "Slots and Racetracks: Perfect Together?"
    Churchill Downs Incorporated, headquartered in Louisville, Ky., owns and
operates world-renowned horse racing venues throughout the United States.  The
Company's racetracks in California, Florida, Illinois, Indiana and Kentucky
host 112 graded-stakes events and many of North America's most prestigious
races, including the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and
Arlington Million. CDI also owns off-track betting facilities and has
interests in various television production, telecommunications and racing
services companies that support CDI's network of simulcasting and racing
operations.  CDI trades on the Nasdaq National Market under the symbol CHDN
and can be found on the Internet at http://www.churchilldownsincorporated.com.
    This news release contains forward-looking statements made pursuant to the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. The reader is cautioned that such forward-looking statements involve
risks and uncertainties that could cause our actual operating results and
financial condition to differ materially.  Forward-looking statements are
typically identified by the use of terms such as "anticipate," "believe,"
"could," "estimate," "expect," "intend," "may," "might," "plan," "predict,"
"project," "should," "will," and similar words, although some forward-looking
statements are expressed differently.  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
our expectations include: the effect of global economic conditions; the effect
(including possible increases in the cost of doing business) resulting from
war and terrorist activities or political uncertainties; the impact of
increasing insurance costs; the financial performance of our racing
operations; the impact of gaming competition (including lotteries and
riverboat, cruise ship and land-based casinos) and other sports and
entertainment options in those markets in which we operate; a substantial
change in law or regulations affecting our pari-mutuel activities; a
substantial change in allocation of live racing days; litigation surrounding
the Rosemont, Illinois, riverboat casino; changes in Illinois law that impact
revenues of racing operations in Illinois; a decrease in riverboat admissions
subsidy revenue from our Indiana operations; the impact of an additional
racetrack near our Indiana operations; our continued ability to effectively
compete for the country's top horses and trainers necessary to field high-
quality horse racing; our continued ability to grow our share of the
interstate simulcast market; the impact of interest rate fluctuations; our
ability to execute our acquisition strategy and to complete or successfully
operate planned expansion projects; the economic environment; our ability to
adequately integrate acquired businesses; market reaction to our expansion
projects; the loss of our totalisator companies or their inability to keep
their technology current; our accountability for environmental contamination;
the loss of key personnel and the volatility of our stock price.

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