Ky. Churchill argued that it could not operate Hoosier Park profitably with such a nearby competitor without reducing its own racing calendar. Hoosier Park is offering 102 days of harness racing and 65 days of Thoroughbred racing this year. The park, which opened in 1994, showed a profit for the first time last year. It also receives 100 percent of a state subsidy from casino boat taxes, a subsidy that Hoosier would have had to share with Indianapolis Downs. Last, but certainly not least, Churchill acquired Arlington International Racecourse and five Illinois off-track facilities in exchange for up to 4.4 million shares of Churchill stock.
Analysts view the chain as ripe for the picking by a bigger company with deeper pockets.