| | Robinson brings a wealth of industry knowledge and specific experience with operations at MVG including gaming operations, finance, racing and construction projects, making him the ideal candidate to lead the property to continued success, having previously served as senior director of finance at MVG from 2015 to 2017. Robinson currently serves as vice president of casino operational finance at CDI where he is responsible for the supervision of 11 property finance leaders. He has directed the strategic planning and budgeting process, which has achieved industry-leading EBITDA margins during periods of rapid change and growth. “I am excited to re-join the energetic and successful team at Miami Valley Gaming and Racing,” said Robinson. “I am honored that Delaware North and CDI have entrusted me to continue the tradition of community involvement, financial success and exciting times that the MVG team has been delivering to the Cincinnati and Dayton area since its opening in 2013. My family is looking forward to moving back to the area and re-engaging with the community that welcomed us so warmly before.” Robinson’s seasoned career in gaming and racing includes roles as CFO at Grand Sierra Resort; vice president of finance and CFO at multiple properties under the umbrella of Penn National Gaming; and vice president of internal audit with Argosy Gaming Company, among other strategic leadership roles over his 27 years of experience. The appointment follows Domenic Mancini’s retirement announcement after serving as President and General Manager of MVG for over five years. Robinson will assume his new role as President and General Manager in April. About
Churchill Downs Incorporated
Cautionary
Statement Regarding Forward-Looking Statements
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 effect of economic conditions on our consumers’ confidence and discretionary spending or our access to credit; additional or increased taxes and fees; public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation; loss of key or highly skilled personnel; restrictions in our debt facilities limiting our flexibility to operate our business; general risks related to real estate ownership, including fluctuations in market values and environmental regulations; catastrophic events and system failures disrupting our operations; online security risk, including cyber-security breaches; inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; increases in insurance costs and inability to obtain similar insurance coverage in the future; inability to identify and complete acquisition, expansion or divestiture projects, on time, on budget or as planned; difficulty in integrating recent or future acquisitions into our operations; costs and uncertainties relating to the development of new venues and expansion of existing facilities; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; inadvertent infringement of the intellectual property of others; inability to protect our own intellectual property rights; payment-related risks, such as risk associated with fraudulent credit card and debit card use; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; risks related to pending or future legal proceedings and other actions; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; work stoppages and labor issues; changes in consumer preferences with respect to Churchill Downs Racetrack and the Kentucky Derby; personal injury litigation related to injuries occurring at our racetracks; weather and other conditions affecting our ability to conduct live racing; the occurrence of extraordinary events, such as terrorist attacks and public health threats, including the ongoing impact of the novel coronavirus (COVID-19 virus); changes in the regulatory environment of our racing operations; increased competition in the horseracing business; difficulty in attracting a sufficient number of horses and trainers for full field horseraces; our inability to utilize and provide totalizator services; changes in regulatory environment of our online horseracing business; number of people wagering on live horse races; increase in competition in our online horseracing; uncertainty and changes in the legal landscape relating to our online wagering business; continued legalization of online sports betting and iGaming in the United States and our ability to predict and capitalize on any such legalization; inability to expand our sports betting operations and effectively compete; failure to manage risks associated with sports betting; failure to comply with laws requiring us to block access to certain individuals could result in penalties or impairment with respect to our mobile and online wagering products; increased competition in our casino business; changes in regulatory environment of our casino business; and concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; and inability to collect gaming receivables from the customers to whom we extend credit. Media Contacts: Nick
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Delaware North
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