Valparaiso Sporting Club SA is a Chile-based company principally engaged in the management of horse racing courses. The Company hosts the annual Chilean Derby, a 2,400 meters race reserved exclusively for three-years-old thoroughbred horses. The Company also operates recreational parks and sports activity centers, as well as it is involved in the operation of the Teletrack national betting network with branches located nationwide. In addition, through its subsidiary Sociedad Veterinaria Sporting Ltda, the Company provides veterinary services. It also owns such subsidiaries as Hipotel SA, which is engaged in the broadcasting of equestrian events, and Sporting Eventos y Servicios Ltda, which is active in the leasing of the Company’s facilities for the celebration and hosting of events, executive meetings, weddings ceremonies and banquets, among others. As of December 31, 2011, Caso y Cia SAC was the Company’s majority shareholder with 28.1% of its interest.