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.

Earnings data Q1 2021

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Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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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Churchill Downs Incorporated (NASDAQ:CHDN ) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET Company Participants Nick Zangari - VP, Treasury, Risk Management and IR William Carstanjen - CEO Marcia Dall - EVP and CFO William Mudd - President and COO Conference Call Participants David Katz - Jefferies Daniel Politzer - Wells Fargo Shaun Kelley - Bank of America Joe Stauff - Susquehanna Chad Beynon - Macquarie Operator Good day, ladies and gentlemen, and welcome to the Churchill Downs Incorporated 2022 Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

Churchill Downs Incorporated (CHDN) CEO William Carstanjen on Q2 2022 Results Earnings Call Transcript

Churchill Downs (CHDN) delivered earnings and revenue surprises of 1.83% and 0.45%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Churchill Downs (CHDN) Tops Q2 Earnings Estimates

LOUISVILLE, Ky., July 27, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company") today reported business results for the second quarter ended June 30, 2022.

Churchill Downs Incorporated Reports 2022 Second Quarter Results

Churchill Downs (CHDN) possesses solid growth attributes, which could help it handily outperform the market.

3 Reasons Why Churchill Downs (CHDN) Is a Great Growth Stock

The consensus price target hints at a 32.7% upside potential for Churchill Downs (CHDN). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Believe Churchill Downs (CHDN) Could Rally 33%: Here's is How to Trade

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LOUISVILLE, Ky., July 06, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release second quarter 2022 financial results after the market closes on Wednesday, July 27, 2022, and host a related conference call to discuss the quarter on Thursday, July 28, 2022, at 9 a.m. ET.

Churchill Downs Incorporated 2022 Second Quarter Financial Results Conference Call Invitation

LOUISVILLE, Ky., June 17, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “Company”) (Nasdaq: CHDN) announced today that it closed on the sale of 115.7 acres of excess land near Calder Casino for $291 million (or approximately $2.5 million per acre) to Link Logistics, one of the premier owners of logistics real estate assets, established in 2019 by Blackstone.

Churchill Downs Incorporated Closes on Sale of 115.7 Acres of Land by Calder Casino for $291 Million

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LOUISVILLE, Ky., May 07, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) announced today that an exuberant crowd of 147,294 Derby fans at Churchill Downs Racetrack (“Churchill Downs”) witnessed the second-biggest long shot ever to win the Kentucky Derby as Rich Strike claimed an unexpected victory at the 148th running of the Kentucky Derby presented by Woodford Reserve at 80-1 odds. CDI also announced that wagering from all-sources was the highest all-time on the Kentucky Derby race, the Kentucky Derby Day program and Kentucky Derby Week races.

Rich Strike Wins the 148th Running of the Kentucky Derby Presented by Woodford Reserve at 80-1 Odds

Churchill Downs, Inc. CEO William Carstanjen provides insight into what he anticipates surrounding this year's run for the roses and future plans for the company's iconic racetrack.

Churchill Downs CEO on what to expect for Kentucky Derby 2022 and beyond

LOUISVILLE, Ky., May 06, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) announced today a new handle record for the Longines Kentucky Oaks (Grade 1) at Churchill Downs Racetrack (“Churchill Downs”) as Secret Oath captured the Lilies in the 148th running of America's premier race for 3-year old fillies in a field of 14 under cloudy skies and good track conditions. Despite a threat of widespread scattered thunderstorms, 100,188 spectators gathered under the historic Twin Spires to watch Hall of Fame trainer D. Wayne Lukas win his 5th Kentucky Oaks.

148th Longines Kentucky Oaks Sets Record Handle as Secret Oath Claims the Lilies

Churchill Downs says it is switching its strategy because online sports betting became too costly.

Kentucky Derby owner Churchill Downs moves away from online gambling, doubles down on horse betting

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Churchill Downs Incorporated (CHDN) CEO William Carstanjen on Q1 2022 Results - Earnings Call Transcript

Churchill Downs (CHDN) delivered earnings and revenue surprises of 4.42% and 5.53%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Churchill Downs (CHDN) Tops Q1 Earnings and Revenue Estimates

$185 - $200 Million Project to Debut for the 150th Kentucky Derby in May 2024 $185 - $200 Million Project to Debut for the 150th Kentucky Derby in May 2024

Churchill Downs Incorporated to Transform the Churchill Downs Racetrack Paddock

LOUISVILLE, Ky., April 27, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "we", "us", "our") today reported business results for the first quarter ended March 31, 2022.

Churchill Downs Incorporated Reports 2022 First Quarter Results

LOUISVILLE, Ky., April 13, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) today announced that CDI successfully closed an amendment of its senior secured credit agreement (the “Credit Agreement Amendment”) to extend the maturity date of its existing revolving credit facility to 2027 and to increase the commitments under the existing revolving credit facility from $700 million to $1,200 million (the “Revolver”). The Credit Agreement Amendment also provides for a senior secured delayed draw term loan A credit facility due 2029 in the amount of $800 million (the “Delayed Draw Term Loan A”) and makes certain other changes to its existing credit agreement. The interest rate applicable to borrowings on the Revolver and Delayed Draw Term Loan A will be SOFR-based plus a spread, determined by CDI's total net leverage ratio. CDI also successfully closed the previously announced offering of $1,200 million in aggregate principal amount of its 5.750% senior notes due 2030 (the “Notes”).

Churchill Downs Incorporated Announces Closing of a $1,200 Million Senior Secured Revolver due 2027, $800 Million Senior Secured Delayed Draw Term Loan A due 2029, and $1,200 Million of Senior Notes due 2030

LOUISVILLE, Ky., April 07, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release first quarter 2022 financial results after the market closes on Wednesday, April 27, 2022, and host a related conference call to discuss the quarter on Thursday, April 28, 2022, at 9 a.m. ET.

Churchill Downs Incorporated 2022 First Quarter Financial Results Conference Call Invitation

LOUISVILLE, Ky., March 30, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) today announced that CDI Escrow Issuer, Inc. (the “Escrow Issuer”), a wholly owned subsidiary of CDI, successfully priced an upsized offering of $1,200 million in aggregate principal amount of its 5.750% senior notes due 2030 (the “Notes”).

Churchill Downs Incorporated Announces Upsized Offering of $1,200 Million of Senior Notes due 2030

LOUISVILLE, Ky., March 30, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) today announced that CDI Escrow Issuer, Inc. (the “Escrow Issuer”), a wholly owned subsidiary of CDI, intends to offer, subject to market and customary conditions, $900 million in aggregate principal amount of senior notes due 2030 (the “Notes”) in a private offering.

Churchill Downs Incorporated Announces Proposed Offering of $900 Million of Senior Notes due 2030

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 Announces Definitive Agreement to Acquire Chasers Poker Room in Salem, New Hampshire

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Churchill Downs, Inc. (CHDN) CEO William Carstanjen on Q4 2021 Results - Earnings Call Transcript

News for Churchill Downs Stock (CHDN)