Natural Disasters	6 Months Ended
Jun. 30, 2011
Natural Disasters
Natural Disasters	NOTE 4 — NATURAL DISASTERS Kentucky Tornado On June 22, 2011, a tornado caused damage to portions of Louisville, Kentucky including Churchill Downs Racetrack ("Churchill Downs"). Churchill Downs sustained damage to its stable area, as well as several other buildings on the backside of the racetrack. The Company cancelled one day of its live racing meet as a result of the incident. The Company carries property and casualty insurance as well as business interruption insurance, subject to a $0.5 million deductible. As of June 30, 2011, the Company has not recorded an impairment of its assets but does not believe this amount will be material. The Company does not believe that the Kentucky Tornado will have a material, adverse impact on its business, financial condition or results of operations. Mississippi River Flooding On May 7, 2011, the Board of Mississippi Levee Commissioners ordered the closure of the Mainline Mississippi River Levee as a result of the Mississippi River flooding, and the Company temporarily ceased operations at Harlow's Casino Resort & Hotel ("Harlow's") on May 6, 2011. On May 12, 2011, the facility sustained damage to its 2,600-seat entertainment center and a portion of its dining facilities which remain closed. On June 1, 2011, Harlow's resumed its casino operations. The Company carries flood, property and casualty insurance as well as business interruption insurance subject to a $1.3 million deductible for damages. As of June 30, 2011, the Company has incurred $0.9 million in repair expenditures which is recorded as an insurance recovery receivable on the Condensed Consolidated Balance Sheet at June 30, 2011. The Company is currently working with its insurance carriers to finalize its claim, and on July 22, 2011, it received $2.0 million in partial settlement of its claim. In addition, the Company recorded a reduction of property and equipment of $8.4 million and an offsetting insurance recovery receivable for the estimated damage associated with the flood. The Company does not believe that the Mississippi River Flooding will have a material, adverse impact on its business, financial condition or results of operations. Mississippi Wind Damage On February 24, 2011, severe storms caused damage to portions of Mississippi, including Greenville, Mississippi, the location of Harlow's. The facility sustained damage to a portion of the hotel, including its roof, furniture and fixtures in approximately 61 hotel rooms and fixtures in other areas of the hotel. The hotel was closed to customers for renovations during the first quarter of 2011 and reopened during June 2011. The Company carries property and casualty insurance as well as business interruption insurance subject to a $0.1 million deductible for damages. The Company filed a preliminary claim with its insurance carriers for $1.0 million in damages, which it received during the second quarter of 2011. As of June 30, 2011, the Company had incurred $0.8 million in repair expenditures of which $0.6 million was offset with the insurance proceeds at June 30, 2011. During the three months ended June 30, 2011, $0.4 million of insurance recoveries have been recorded as a reduction of selling, general and administrative expenses against losses related to the interruption of business caused by the wind damage that were incurred through June 30, 2011, that management determined as probable of recovery under an existing business interruption insurance policy. In addition, the Company recorded a reduction of property and equipment of $1.4 million and an offsetting insurance recovery receivable for the estimated wind damage. The Company does not believe that the Mississippi Wind Damage will have a material, adverse impact on its business, financial condition or results of operations.

NOTE 4 — NATURAL DISASTERS

Kentucky Tornado

On June 22, 2011, a tornado caused damage to portions of Louisville, Kentucky including Churchill Downs Racetrack ("Churchill Downs"). Churchill Downs sustained damage to its stable area, as well as several other buildings on the backside of the racetrack. The Company cancelled one day of its live racing meet as a result of the incident. The Company carries property and casualty insurance as well as business interruption insurance, subject to a $0.5 million deductible. As of June 30, 2011, the Company has not recorded an impairment of its assets but does not believe this amount will be material. The Company does not believe that the Kentucky Tornado will have a material, adverse impact on its business, financial condition or results of operations.

Mississippi River Flooding

On May 7, 2011, the Board of Mississippi Levee Commissioners ordered the closure of the Mainline Mississippi River Levee as a result of the Mississippi River flooding, and the Company temporarily ceased operations at Harlow's Casino Resort & Hotel ("Harlow's") on May 6, 2011. On May 12, 2011, the facility sustained damage to its 2,600-seat entertainment center and a portion of its dining facilities which remain closed. On June 1, 2011, Harlow's resumed its casino operations. The Company carries flood, property and casualty insurance as well as business interruption insurance subject to a $1.3 million deductible for damages. As of June 30, 2011, the Company has incurred $0.9 million in repair expenditures which is recorded as an insurance recovery receivable on the Condensed Consolidated Balance Sheet at June 30, 2011. The Company is currently working with its insurance carriers to finalize its claim, and on July 22, 2011, it received $2.0 million in partial settlement of its claim. In addition, the Company recorded a reduction of property and equipment of $8.4 million and an offsetting insurance recovery receivable for the estimated damage associated with the flood. The Company does not believe that the Mississippi River Flooding will have a material, adverse impact on its business, financial condition or results of operations.

Mississippi Wind Damage

On February 24, 2011, severe storms caused damage to portions of Mississippi, including Greenville, Mississippi, the location of Harlow's. The facility sustained damage to a portion of the hotel, including its roof, furniture and fixtures in approximately 61 hotel rooms and fixtures in other areas of the hotel. The hotel was closed to customers for renovations during the first quarter of 2011 and reopened during June 2011. The Company carries property and casualty insurance as well as business interruption insurance subject to a $0.1 million deductible for damages. The Company filed a preliminary claim with its insurance carriers for $1.0 million in damages, which it received during the second quarter of 2011. As of June 30, 2011, the Company had incurred $0.8 million in repair expenditures of which $0.6 million was offset with the insurance proceeds at June 30, 2011. During the three months ended June 30, 2011, $0.4 million of insurance recoveries have been recorded as a reduction of selling, general and administrative expenses against losses related to the interruption of business caused by the wind damage that were incurred through June 30, 2011, that management determined as probable of recovery under an existing business interruption insurance policy. In addition, the Company recorded a reduction of property and equipment of $1.4 million and an offsetting insurance recovery receivable for the estimated wind damage. The Company does not believe that the Mississippi Wind Damage will have a material, adverse impact on its business, financial condition or results of operations.