07/21/2004 11:00PM

Etc. . . .

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Churchill Downs Inc. reported net income of $27.4 million in the second quarter of 2004, down 2.1 percent from last year's second quarter, despite a 1.1 percent increase in net revenue - $191.1 million - for the quarter over last year. The decline was attributable to expenses for lobbying in states considering slot machines at racetracks, the company said. . . . Spanish Steps, an unraced full brother to leading sire Unbridled's Song, will stand at stud at Martin South Stable in Reddick, Fla., for the 2005 breeding season. His fee will be $5,000 live foal. . . . U.S. District Court Judge John Heyburn II ruled Thursday that Kentucky could not enforce a ban on advertising on jockeys' silks. Heyburn had previously issued a temporary injunction against the ban for this year's Kentucky Derby, and Thursday's decision made that ruling permanent. . . . Smarty Jones, who won the Kentucky Derby and Preakness, and Birdstone, winner of the Belmont Stakes, are among the 45 horses nominated to the Grade 2, $500,000 Super Derby at Louisiana Downs in Bossier City, La. The 1 1/8-mile race will be run Sept. 25.