Churchill Downs

Churchill Downs, Inc. operates as a provider of pari-mutuel horse racing, online account wagering on horse racing and casino gaming. It operates through the following business segments: Racing, Casino, Online Wagering, Corporate, and Other Investments. The Racing segment includes Churchill Downs Racetrack, Arlington Park Racecourse, Calder Race Course, and Fair Grounds Race Course. The Casinos segment includes Oxford Casino, Riverwalk Casino Hotel, Harlow's Casino Resort and Spa, Calder Casino, Fair Grounds Slots, Video Services and equity investment. The Online Wagering segment offers simulcasting and interactive wagering hub. The Corporate segment includes miscellaneous and other revenue, compensation expense, professional fees and other general and administrative expenses not allocated to other operating segments. The Other Investments and Corporate segment consists of United Tote Company and United Tote Canada, Capital View Casino and Resort, Bluff Media, and minor investments. The company was founded in 1875 and is headquartered in Louisville, KY.

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Churchill Downs reports record revenue and strategic acquisitions drive growth

Churchill Downs achieved record financial performance in 2022, driven by strategic acquisitions and strong operational results.
While facing challenges in optimizing machine deployment and competition from new casino capacity, the company remains focused on growth opportunities.
The outlook for Churchill Downs is positive, with a strong foundation for future growth and value creation for shareholders.

Churchill Downs achieves record earnings, eyes expansion amid challenges

Churchill Downs delivered strong financial performance with record revenue and EBITDA. The company is strategically focused on HRM initiatives and expanding its operations. Challenges include legislative impacts and maintaining margins in competitive markets. Opportunities lie in new projects, online betting, and potential casino developments.

Churchill Downs reports record Q2 earnings, eyes expansion opportunities

Churchill Downs delivered strong financial performance in Q2 2023, driven by record revenues and EBITDA, despite challenges in the TwinSpires segment and regional properties.
The company's strengths lie in flagship events like the Kentucky Derby, strategic investments, and a focus on legislative opportunities for growth.
While facing challenges from race cancellations and regional softness, Churchill Downs is well-positioned to capitalize on expansion opportunities in Virginia and international markets.
CEO's commitment to growth, financial stability, and strategic vision underpin Churchill Downs' resilience and potential for sustained success in the industry.

Churchill Downs achieves record Q3 results, eyes HRM expansion

Churchill Downs delivered strong financial performance in Q3, with record revenue and EBITDA, driven by growth initiatives and strategic acquisitions. The company faces challenges in the gaming segment but remains optimistic about future prospects. Opportunities lie in expanding HRM operations and leveraging technology for growth.

Churchill Downs achieves record revenue and EBITDA, eyes strategic growth

Churchill Downs delivered exceptional financial performance in 2023, setting records in revenue and adjusted EBITDA. The company's focus on strategic acquisitions, capital management, and future growth strategies positions it well for continued success. Challenges in optimizing operations and addressing market dynamics require careful navigation.

Churchill Downs reports record Q1 earnings, eyes growth opportunities

Churchill Downs Inc. delivers robust financial results with record revenues and EBITDA, driven by strategic investments and strong operational performance. While facing challenges in optimizing gaming floors and addressing analyst inquiries, the company remains focused on capital stewardship and growth opportunities in key markets.

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Five Year Agreement with Brown-Forman Includes Old Forester, Finlandia and Herradura Five Year Agreement with Brown-Forman Includes Old Forester, Finlandia and Herradura

Woodford Reserve Extends Partnership with Churchill Downs as Presenting Sponsor of the Kentucky Derby

LOUISVILLE, Ky., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced today that Presque Isle Downs & Casino (“Presque Isle”), the Company's wholly-owned subsidiary, has entered into a multi-year agreement with a wholly-owned U.S. subsidiary of bet365 Group Ltd (“bet365") for online sports betting and iGaming market access in Pennsylvania, subject to necessary regulatory approvals.

Churchill Downs Incorporated Enters into Agreement with bet365 to Offer Online Sports Betting and iGaming in Pennsylvania

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In a tough year, shares of Churchill Downs have held up well. Higher interest rates should have hurt its premium valuation and high leverage, offset by resilient operating performance.

Churchill Downs: Racing Along

BOYNTON BEACH, Fla. , Dec. 21, 2022 /PRNewswire/ -- Exacta Systems announces today that it has entered into a definitive agreement with Churchill Downs Incorporated (CDI, NASDAQ: CHDN).

EXACTA SYSTEMS SIGNS AGREEMENT WITH CHURCHILL DOWNS INCORPORATED

LOUISVILLE, Ky., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced today that it has entered into a definitive agreement under which CDI would acquire all of the outstanding equity interests of Exacta Systems, LLC (“Exacta”) for total consideration of $250 million in cash (the “Transaction”), subject to certain working capital and other purchase price adjustments. The Transaction will provide CDI the opportunity to realize synergies related to the Company's recent acquisition of Colonial Downs Racetrack and the Rosie's Gaming Emporium HRM facilities in Virginia.

Churchill Downs Incorporated to Acquire Exacta Systems

Carter Brings Over 20 Years of Human Resources Expertise Carter Brings Over 20 Years of Human Resources Expertise

Churchill Downs Incorporated Appoints Andréa Carter to Board of Directors

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DraftKings

Shares of DraftKings Inc. DKNG, -4.23% jumped 2.3% in premarket trading Tuesday, after the online sports betting and fantasy sports company and Churchill Downs Inc. CHDN, -1.01% announced a multi-year agreement that will bring betting on horse racing to DraftKings. Churchhill Downs' stock was inactive in the premarket.

DraftKings stock jumps after deal with Churchill Downs to launch horse race betting app ahead of the Kentucky Derby

DK HORSE Will Give DraftKings' Customers the Ability to Bet on Horse Racing DK HORSE Will Give DraftKings' Customers the Ability to Bet on Horse Racing

Churchill Downs Incorporated and DraftKings Inc. Enter Agreement to Develop and Launch DK HORSE

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Transaction Expands Company Geographic Footprint to Virginia, New York and Iowa Transaction Expands Company Geographic Footprint to Virginia, New York and Iowa

Churchill Downs Incorporated Completes Acquisition of Substantially All of the Assets of Peninsula Pacific Entertainment

Churchill Downs Incorporated (NASDAQ:CHDN ) Q3 2022 Earnings Conference Call October 27, 2022 9:00 AM ET Company Participants Nick Zangari - Vice President, Treasury & Investor Relations Bill Carstanjen - Chief Executive Officer Marcia Dall - Chief Financial Officer Bill Mudd - President & Chief Operating Officer Conference Call Participants Dan Politzer - Wells Fargo Shaun Kelley - Bank of America David Katz - Jefferies Joe Stauff - Susquehanna Chad Beynon - Macquarie Operator Good day, ladies and gentlemen, and welcome to the Churchill Downs Incorporated 2022 Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

Churchill Downs Incorporated (CHDN) Q3 2022 Earnings Call Transcript

Churchill Downs (CHDN) delivered earnings and revenue surprises of 24.62% and 3.46%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Churchill Downs (CHDN) Surpasses Q3 Earnings Estimates

LOUISVILLE, Ky., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company") today reported business results for the third quarter ended September 30, 2022.

Churchill Downs Incorporated Reports 2022 Third Quarter Results

The company has recently entered into an agreement to acquire Ellis Park in Henderson. The company has planned to build racing infrastructure in Ellis Park and construct Owensboro Racing and Gaming.

Churchill Downs: Ellis Park Acquisition Should Accelerate Growth

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LOUISVILLE, Ky., Oct. 04, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release third quarter 2022 financial results after the market closes on Wednesday, October 26, 2022, and host a related conference call to discuss the quarter on Thursday, October 27, 2022, at 9 a.m. ET.

Churchill Downs Incorporated 2022 Third Quarter Financial Results Conference Call Invitation

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Ford Unveils New Super Duty At Churchill Downs On KenTRUCKy Day

LOUISVILLE, Ky., Sept. 26, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced today that the Company has completed its previously-announced purchase of Ellis Park Racing & Gaming (“Ellis Park”) in Henderson, Kentucky, for cash consideration of $79 million, subject to certain working capital and other purchase price adjustments. In acquiring Ellis Park, CDI also assumes the opportunity to construct a track extension facility with historical racing machines in Owensboro, Kentucky.

Churchill Downs Incorporated Completes Acquisition of Ellis Park in Henderson, Kentucky

Acquisition of Historic Thoroughbred Racetrack Affords CDI the Opportunity to Construct Gaming and Entertainment Venue in Owensboro, Kentucky Acquisition of Historic Thoroughbred Racetrack Affords CDI the Opportunity to Construct Gaming and Entertainment Venue in Owensboro, Kentucky

Churchill Downs Incorporated Enters Definitive Agreement to Acquire Ellis Park in Henderson, Kentucky

Churchill Downs Inc. CHDN, +3.61% said Thursday it inked a multi-year sports betting pact with FanDuel Group to broadcast its races on FanDuel's TV and internet properties. It also includes FanDuel non-exclusive Kentucky Derby sponsorship rights within the sports wagering category.

FanDuel becomes Kentucky Derby sponsor in Churchill Downs alliance

Agreement Includes Wagering Rights to Horse Racing Content, Totalizator Services, Certain Television and Media Rights and a Kentucky Derby Sponsorship

Churchill Downs Incorporated Enters into Multi-Year Agreement with FanDuel

Acquisition of New Hampshire's Leading Charitable Gaming Operation Paves Way for CDI to Expand its Historical Horse Racing Operations into a Fourth State Acquisition of New Hampshire's Leading Charitable Gaming Operation Paves Way for CDI to Expand its Historical Horse Racing Operations into a Fourth State

Churchill Downs Incorporated Completes Acquisition of Chasers Poker Room in Salem, New Hampshire

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