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Considering how beloved Barbaro is, it makes sense to ask whether having him on the grounds means it's worth it to take a look at Churchill Downs [CHDN
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] stock.
From the information that is out there now, I'd be skeptical as to whether this is going to be a cash-in opportunity.
You see, Churchill Downs originally expressed interest in having Barbaro buried in its garden with four other forgettable Derby winners.
But word out of Louisville--if I'm reading between the lines right--is that Churchill Downs won't be earning any incremental revenue from the gravesite alone. Plans are to have Barbaro's remains "placed outside of an entrance gate," which, to me, means people can walk up and take a look without paying any admission.
While that was probably done on purpose by Barbaro's owners--who want America to see America's horse--it's a shame for the investment that is Churchill Downs.
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