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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LOUISVILLE, Ky., Oct. 04, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release third quarter 2023 financial results after the market closes on Wednesday, October 25, 2023, and host a related conference call to discuss the quarter on Thursday, October 26, 2023, at 9 a.m. ET.

Churchill Downs Incorporated 2023 Third Quarter Financial Results Conference Call Invitation

Churchill Downs (CHDN) opens new Rosie's Gaming Emporium in Emporia, thus marking the seventh Rosie's gaming property in Virginia.

Churchill Downs (CHDN) Unveils a New Rosie's Gaming Emporium

EMPORIA, Va., Sept. 26, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI”) (NASDAQ: CHDN) announced today the opening of the newest Rosie's Gaming Emporium in Emporia, Virginia (“Rosie's Emporia”).

Churchill Downs Incorporated Opens Rosie's Gaming Emporium in Emporia, Virginia

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Governor Beshear to Place State's First Sports Wager at Churchill Downs Racetrack on Opening Day at 10 a.m. Governor Beshear to Place State's First Sports Wager at Churchill Downs Racetrack on Opening Day at 10 a.m.

Churchill Downs Incorporated to Open Six Race and Sports Books at Kentucky Properties on September 7

Acquisition of Historical Horse Racing Technology Provider Allows CDI to Realize Immediate Operational Synergies in Virginia Acquisition of Historical Horse Racing Technology Provider Allows CDI to Realize Immediate Operational Synergies in Virginia

Churchill Downs Incorporated Completes Acquisition of Exacta Systems

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Churchill Downs Incorporated has consistently performed well in earnings and revenue growth, with a strong capital allocation strategy and successful acquisitions. The company has diversified into casinos and online horse race betting, and has a solid portfolio of assets that consistently produces good returns. Churchill Downs' strategic vision includes high visibility from the iconic Kentucky Derby, a revival of historic horse racing slots, and its online horse racing platform Twin Spires.

Churchill Downs: Moving Our Prior Bearish Outlook To A Buy Signal

LOUISVILLE, Ky., July 31, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that Churchill Downs Racetrack (“Churchill Downs” or “the Racetrack”) will resume live racing for the regularly scheduled meet beginning September 14, 2023. The meet will take place following a temporary suspension of racing operations to conduct an internal safety review.

Churchill Downs to Resume Live Racing in September

Churchill Downs Incorporated (NASDAQ:CHDN ) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET Company Participants Phil Forbis - Vice President, Financial Planning & Analysis Bill Carstanjen - Chief Executive Officer Marcia Dall - EVP and Chief Financial Officer Conference Call Participants David Katz - Jefferies Dan Politzer - Wells Fargo Barry Jonas - Tru Securities Joe Stauff - SIG Chad Beynon - Macquarie Jordan Bender - JMP Securities Operator Good day, ladies and gentlemen, and welcome to the Churchill Downs Inc. 2023 Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

Churchill Downs Incorporated (CHDN) Q2 2023 Earnings Call Transcript

The headline numbers for Churchill Downs (CHDN) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Churchill Downs (CHDN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Churchill Downs (CHDN) came out with quarterly earnings of $2.24 per share, missing the Zacks Consensus Estimate of $2.50 per share. This compares to earnings of $1.95 per share a year ago.

Churchill Downs (CHDN) Q2 Earnings and Revenues Lag Estimates

$14 Million Project will Debut for the 150th Kentucky Derby in May 2024 $14 Million Project will Debut for the 150th Kentucky Derby in May 2024

Churchill Downs to Renovate Jockey Club Suites

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LOUISVILLE, Ky., July 26, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI") today reported business results for the second quarter ended June 30, 2023.

Churchill Downs Incorporated Reports 2023 Second Quarter Results

LOUISVILLE, Ky., July 14, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release second quarter 2023 financial results after the market closes on Wednesday, July 26, 2023, and host a related conference call to discuss the quarter on Thursday, July 27, 2023, at 9 a.m. ET.

Churchill Downs Incorporated 2023 Second Quarter Financial Results Conference Call Invitation

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Investors interested in stocks from the Gaming sector have probably already heard of Churchill Downs (CHDN) and Red Rock Resorts (RRR). But which of these two stocks presents investors with the better value opportunity right now?

CHDN or RRR: Which Is the Better Value Stock Right Now?

Churchill Downs Incorporated has demonstrated strong financial performance and growth in the gaming industry, with a focus on historical racing machines, or HRMs, and expansion in various states. Despite regulatory risks, CHDN's commitment to adhering to regulations and successful execution of expansion plans, including the construction of HRM venues and a Class 3 casino in Richmond, Virginia, show promise for the future. Based on a discounted cash flow analysis, CHDN's intrinsic value suggests an attractive investment opportunity, with the potential for a 57.4% gain compared to the current market price.

Churchill Downs: An Undervalued Investment In The Gaming Industry

LOUISVILLE, Ky., June 28, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company has not renewed the management agreement for Lady Luck Casino Nemacolin (“Lady Luck Nemacolin”) in Farmington, Pennsylvania and has completed the sale of substantially all of its assets at Lady Luck Nemacolin to Woodlands Fayette, LLC for an immaterial sum. Woodlands Fayette, LLC manages Nemacolin Resort and will manage Lady Luck Nemacolin effective immediately. All of the employees of Lady Luck Nemacolin were offered positions by Woodlands Fayette, LLC.

Churchill Downs Announces End of Management Agreement Related to Lady Luck Nemacolin in Pennsylvania

LOUISVILLE, Ky., June 22, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) announced that Churchill Downs Racetrack (“Churchill Downs”) is celebrating its upcoming 150th Kentucky Derby by highlighting the rich history of the iconic race at the five-day Royal Ascot race meet that concludes Saturday. For the first time at Ascot Racecourse, racing enthusiasts have been able to experience the legendary traditions of the Kentucky Derby through an experiential activation in the Queen Anne Enclosure. Guests have been able to enjoy signature Mint Juleps, witness the Kentucky Derby trophy on display and photograph themselves among a rose-filled backdrop.

Churchill Downs Celebrates 150th Kentucky Derby at Royal Ascot

LOUISVILLE, Ky., June 19, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced that the Company has secured a site in eastern Daviess County, outside of the Owensboro city limits, to build its previously announced historical racing machine (“HRM”) entertainment venue as an annex of Ellis Park Racing & Gaming (“Ellis Park”). This new facility will support purse funding for Ellis Park race meets. The Company will provide updated development and investment plans, as well as the location of the property, in the coming months.

Churchill Downs Incorporated Announces HRM Entertainment Venue to be Built in Eastern Daviess County, Kentucky

The extraordinary number of deaths in May have led to the closure, which will allow what the track's CEO describes as a 'top to bottom' investigation.

Churchill Downs Goes Dark In The Wake Of A Dozen Equine Deaths In May

Churchill Downs Inc. CHDN, +3.38%, which hosts the famed Kentucky Derby, said late Friday it is moving its current spring and summer racing meets to Ellis Park, in Henderson, Ky., and halting racing operations at its Churchill Downs Racetrack in Louisville starting Wednesday.

Kentucky Derby host Churchill Downs halts Louisville racetrack as it conducts ‘top to bottom review' after horse deaths

Remainder of Spring Meet will be Relocated to Ellis Park LOUISVILLE, Ky., June 02, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced today that the Company will suspend racing operations at Churchill Downs Racetrack (“Churchill Downs”) beginning June 7, 2023, through the remainder of the Spring Meet, scheduled to run to July 3.

Churchill Downs Racetrack to Suspend Racing Operations to Thoroughly Examine Safety Measures

Churchill Downs stock presents a fresh buy opportunity for investors as the IBD Sector Leader rebounds from its 10-week moving average.

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