US gaming and racing operator Churchill Downs Incorporated (CDI) has appointed William Carstanjen as its new CEO, replacing Robert Evans who will continue to serve as chairman of the company’s board of directors. Carstanjen has served as the company’s president and chief operating officer since March 2011, and begins his new role as CEO today.
“I am deeply honoured to have the opportunity to lead Churchill Downs,” said Carstanjen following his appointment. “Over the last several years we have transformed Churchill Downs into a diversified growth company while continuing to strengthen and invest in our traditional horse racing business.
“Today, CDI is better positioned strategically and operationally, and is stronger financially and organizationally, than perhaps at any time in its 140-year history. I’m excited about our terrific team and the future of our racing, gaming and online businesses and new businesses we may yet enter.”
Since joining CDI in July 2005, Carstanjen has served as the company’s general counsel and chief development officer (2005-2008), as chief operating officer (2008-2011) and, most recently, as president & COO.
He has led CDI’s diversification strategy into online wagering on thoroughbred racing via TwinSpires.com, including the acquisitions of Youbet.com, AmericaTab, and Bloodstock Research Information Systems (BRIS); the growth of the Kentucky Oaks and Kentucky Derby events; and into regional casino gaming.
Carstanjen becomes the company’s 12th CEO, replacing Evans who had held the role since August 2006.
Evans will continue in his role as chairman of the company and will be involved in the leadership of the company with a particular focus on strategy, acquisitions, senior management selection and development, technology initiatives, as well as legislative initiatives, and the iconic Kentucky Oaks and Kentucky Derby events.
“CDI’s future is exciting and I look forward to continuing to work with these outstanding leaders,” said Evans. “We operate under a collaborative senior leadership model and have frequently changed our organizational structure to allow our executives to develop experience in new areas. This approach has served us well, enabling us to diversify and grow the company.”
“In Bill Carstanjen and Bill Mudd we have two proven senior executives who are well known by our major shareholders and who can continue to profitably grow the company and deliver exceptional returns to our shareholders.”
CDI also announced that William Mudd has been promoted to president and chief financial officer, having served as executive vice president and CFO since joining CDI in October 2007.
Mudd will be responsible for operations at the company’s race tracks and gaming properties, except for Churchill Downs Racetrack, and for all finance activities, corporate-level communications and investor relations. He will report to Carstanjen.
Since joining CDI, Mudd has been responsible for all of CDI’s financial activities, managing the company’s capital structure, leading CDI’s information technology group (2007-2011), and, since 2011, leading the company’s business development activities.
“Having worked in finance for most of my career, I appreciate this opportunity to expand my experience in the operations area,” said Mudd. “The vast majority of our employees are at our tracks and casinos and I look forward to working with them to continue CDI’s success.”
Evans, Carstanjen and Mudd will assume their new roles beginning today.
source : www.gamingintelligence.com
