Richard Duchossois, who became the largest shareholder in Churchill Downs Inc. when his wholly owned Arlington Park racetrack was merged with Churchill in September 2000, has been steadily adding to his holdings over the last 10 months. In September alone, the Chicago industrialist has purchased 17,296 shares of CDI.

As part of the original agreement to merge Arlington into Churchill, Duchossois Industries received 3,150,000 shares of CDI and had a right to receive another 1,250,000 shares.

Last November, Duchossois bought nearly 15,000 additional shares in the $49-$50 per share range. In December he bought approximately 25,000 in the $52 range. In March he purchased 69,000 at prices between $45-$47 per share. In August he bought 29,000 shares, about a third of them at $37 per share and the rest around $43.

Churchill stock (CHDN) closed at $50.48 per share on Friday.

The only other major insider trading transactions of CDI stock in the last year was the sale of 15,931 shares by CEO Bob Evans.

Churchill officials are hoping the Kentucky legislature passes legislation permitting racetracks in the state to add slot machines as several other racing states have done, including to the north and West Virginia to the east. Pro-slots legislator Greg Stumbo (formerly the state’s attorney general) said recently he will mount a challenge to be Kentucky’s speaker of the house, a position currently held by Jody Richards, who has fallen into disfavor with many in the horse industry because he blocked a casino bill earlier this year.

The company has had some difficulties in 2008 over contract negotiations with horsemen at CDI-owned Calder in Florida and its flagship track in Louisville, Ky. Purse cuts resulted at both tracks. It will be adding slot machines at Calder after a local referendum was approved, and its other track, Fair Grounds, will be offering record purses at its upcoming meeting, thanks to slot machine revenue.