subject: Churhill Downs (NASDAQ:CHDN): Did You Know You could Own a Piece [print this page]
The Kentucky Derby, considered by many to be the most prestigious horse race in the world, always takes place at Church Hill Downs in Louisville Kentucky. Churchill Downs Incorporated (NASDAQ:CHDN) owns and operates this world renown racetrack. The Kentucky Derby is the first race of the Triple Crown and many consider this race "The Most Exciting Two Minutes in Sports" or "The Fastest Two Minutes in Sports."
The Kentucky Derby seems to have a certain sound to it, like when warm summer days are fast approaching, and I am not sure why I was thinking about the Derby, but it prompted me to let readers know about this public smallcap sports company. They also made a recent purchase. In a move to further expand beyond its increasingly moribund core business of horse racing, Churchill Downs Inc. said Monday that it will acquire a small Mississippi casino for $138 million in cash. For that sum, Churchill will get Harlow's Casino Resort & Hotel in Greenville, Miss., from private-investment groups Levine Leichtman Capital Partners Inc. and Oak Hill Advisors L.P., along with private investor Jess Ravich. Located near the Arkansas and Louisiana borders, Harlow's opened in late 2007 and took in about $50 million in revenue for the year ended July 31.
This year marked the 135th time that the race has occurred; all 135 races have taken place at Church Hill Downs. The race is embedded in tradition and the tradition doesn't stop with the race itself. The Mint Julep, an iced drink consisting of bourbon, mint and sugar syrup is the traditional beverage of the race. Most Churchill Downs patrons sip their Mint Julep's from a souvenir glass printed with all previous Derby winners. Also, burgoo, a thick stew of beef, chicken, pork and vegetables, is a popular Kentucky dish served at the Derby.
CHDN is not the only company which profits off the horse racing industry. It is appropriate on the eve of a weekend like the Kentucky Derby to give a few Small Cap companies in the horse racing industry some love, like (NASDAQ: MNTG) and (NYSE:DDE). The prestigious race represents a chance for people to kick back, place some friendly bets and enjoy the beginning of the Triple Crown, something everyone can enjoy.
