In the midst of a stinging defeat for expanded gaming in Kentucky, it was discovered that people will still attend a racetrack - without slots - and have fun doing so. But not for the same old stale product....

Speaking to shareholders May 7 via conference call, Churchill Downs Inc. president and chief executive officer Bob Evans said, "The solution for tracks without slots is to cut purses, to cut races, and race days, or to cut all three."...

The single most significant number relative to a racetrack's business is handle. Pure and simple. It not only fuels the second-most-important number--purses--but is clearly reflective of the acceptance of a track's racing product by the wagering public....