Chief exec change at major U.S. online and land racing firm

Top US internet and land gaming and racing operator Churchill Downs Incorporated (CDI) has appointed William Carstanjen as its new CEO.

In a statement Wednesday, the company announced that incumbent Robert Evans will stand down  but continue to serve the group as chairman of the board of directors.

Previously CDI’s chief operating officer and president, a position he has held since March 2011, Carstanjen has been with the company since 2005 in legal and development management positions prior to his appointment as chief operating officer.

“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,” Carstenjen said this week.

“Today, CDI is better positioned strategically and operationally, and is stronger financially and organizationally, than perhaps at any time in its 140-year history.”

Among Carstenjen’s achievements at CDI was the company’s move into online wagering via TwinSpires.com, and the acquisitions of Youbet.com, AmericaTab, and Bloodstock Research Information Systems. He was also an important driver of the company’s regional casino gaming diversification and the growth of the Kentucky Oaks and Kentucky Derby events.

In stepping down to take up his role of chairman of the board, Evans commented:

“In Bill Carstanjen and Bill Mudd [who has been promoted to chief financial officer] 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.”

Since joining CDI seven years ago, 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.

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