Churchill Downs Inc. CHDN, which hosts the famed Kentucky Derby, said late Friday it is moving its current spring and summer racing meets to Ellis Park, in Henderson, Ky., and halting racing operations at its Churchill Downs Racetrack in Louisville starting Wednesday. “Churchill Downs Racetrack has seen an unusual number of horse injuries over the previous month resulting in 12 equine fatalities,” the company said. After internal reviews and investigations conducted by racing authorities, it has not identified the causes or discerned a pattern to link the deaths, it said. Churchill Downs decided to relocate the meets “out of an abundance of caution,” it said. “Despite our best efforts to identify a cause for the recent horse injuries, and though no issues have been linked to our racing surfaces or environment at Churchill Downs, we need to take more time to conduct a top-to-bottom review of all of the details and circumstances so that we can further strengthen our surface, safety and integrity protocols,” Churchill Downs Chief Executive Bill Carstanjen said in a statement. Live racing at Churchill Downs will be conducted as scheduled this weekend, the company said. Shares of Churchill Down rose 0.3% in the extended session Friday after ending the regular day up 3.3%.
President Joe Biden will sign a bill that raises the U.S. debt ceiling and imposes some spending limits “as soon as tomorrow,” White House press secretary Karine Jean-Pierre said Friday. The measure cleared the Senate late Thursday after passing the House of Representatives earlier in the week. Biden is scheduled to give an Oval Office address at 7 p.m. Eastern Friday about the bill. Treasury Secretary Janet Yellen has warned that the U.S. could default on its obligations by Monday if lawmakers did not act on the debt ceiling.