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Churchill Downs Incorporated (NASDAQ: CHDN), headquartered in Louisville, KY, is a leading name in the gaming entertainment and racing industry. Established in 1875 with the opening of its iconic namesake racetrack, Churchill Downs, the company has grown to encompass a wide range of operations including live racing, casino gaming, and online wagering.
Churchill Downs is famously known for hosting the Kentucky Derby and Kentucky Oaks, two of the most prestigious events in horse racing. These races have become synonymous with the company and continue to attract significant attention each year.
CDI operates through three main business segments:
- Live and Historical Racing: This segment includes live and historical pari-mutuel racing events held at various racetracks owned by the company.
- TwinSpires: This segment focuses on online horse racing, sports betting, and iGaming. It encompasses both online and retail sports betting operations.
- Gaming: This segment comprises the operation of casino properties, including slot machines, table games, video lottery terminals, and video poker. It also includes ancillary services such as food and beverage, hotel accommodations, and racing events that support the casino licenses.
Recent achievements of CDI include the opening of the Seventh Kentucky HRM Entertainment Venue anticipated for early 2025, and the installation of 175 Exacta-Technology Driven Terminals at The Brook in Seabrook, New Hampshire.
With a rich history and a broad spectrum of gaming and racing operations, Churchill Downs Inc. continues to be a significant player in the entertainment industry, known for setting new records and providing unique experiences for its patrons.
Churchill Downs Incorporated (CHDN) has announced significant multi-year capital investments to enhance guest experiences at the Kentucky Derby through three major projects. The Homestretch Club, costing $45 million, will provide 3,250 all-inclusive seats, set to open in May 2022. The Turn 1 Experience, a $90 million upgrade, aims to enhance seating capacity to 7,100 by 2023. Additionally, a redesign of the Paddock Area aims to improve guest flow and experience by 2024. These investments build on a $10 million turf course upgrade, ensuring Churchill Downs remains a premier racing destination.
Churchill Downs Incorporated (CHDN) has announced a $76 million expansion at Derby City Gaming in Louisville, Kentucky. The project will add 135,000 sq. ft. of new space, including 200 new gaming positions, and can ultimately accommodate up to 400 new gaming positions. Features will include a VIP gaming space, a new sports bar, and an upscale-casual restaurant. A adjoining hotel with 123 rooms is also planned, set to enhance guest experiences. Construction is expected to start in early 2022 and create around 400 construction jobs and 60 permanent jobs.
Churchill Downs Incorporated (CHDN) will release its second quarter 2021 financial results on July 28, 2021, after market close. A conference call to discuss the results is scheduled for July 29, 2021, at 9 a.m. ET. Investors can access the live webcast or listen via telephone by calling the provided numbers. A replay of the call will be available online shortly after the event. The Company is recognized for its industry-leading racing, online wagering, and gaming entertainment services, anchored by the Kentucky Derby, along with various gaming venues and online platforms.
Churchill Downs Incorporated (CHDN) has appointed Jason Sauer as Senior Vice President of Corporate Development, effective immediately. Sauer, who joined the company in 2014, will collaborate with senior management on strategic growth initiatives. CEO Bill Carstanjen praised Sauer's expertise in M&A and complex commercial deals. Previously, Sauer worked as legal counsel at Humana and as an attorney specializing in corporate transactions. He holds degrees from Harvard and the University of Kentucky.
The Chicago Bears have entered a multi-year exclusive partnership with Rush Street Interactive, Inc. (RSI) and Rivers Casino, marking the Bears' first such deal in the Sportsbook and Casino sectors. BetRivers will become the Bears' Official Sportsbook Partner, while Rivers Casino will be the Official Casino Partner. The partnership includes significant in-stadium presence, digital assets, and exclusive promotions for BetRivers players. This agreement is seen as a milestone for both the Bears and RSI, aiming to enhance fan engagement and customer experience.
Churchill Downs Incorporated (CHDN) has announced an agreement to feature Aristocrat Gaming machines at its historical racing machine (HRM) facilities in Kentucky, including Derby City Gaming and Turfway Park. This collaboration aims to attract Aristocrat's loyal customer base with popular games like Buffalo and Wild Lepre’Coins, utilizing the advanced MarsX gaming cabinets. The partnership with Aristocrat joins other prominent suppliers, enhancing CDI's gaming offerings in a growing market.
International Game Technology (IGT) has expanded its historical horse racing (HHR) offerings with the launch of Wheel of Fortune-themed games at Churchill Downs Incorporated (CDI) facilities in Kentucky. This introduction marks IGT's first licensed theme in the HHR market. A total of 40 CrystalWheel cabinets featuring the Wheel of Fortune Cash Link Exotic Far East theme have been deployed at Derby City Gaming, Oak Grove Racing, Gaming & Hotel, and Newport Racing & Gaming. The games include multiple jackpot levels and free games to enhance player engagement.
Churchill Downs Incorporated (CHDN) has appointed Katherine Armstrong as Vice President of Culture (DEI). Reporting directly to CEO Bill Carstanjen, Armstrong will focus on advancing the company's diversity, equity, and inclusion initiatives. With experience from Success Track LLC and major hospitality firms, she aims to develop strategic DEI initiatives. This appointment reflects CDI's commitment to fostering an inclusive culture amid the company's growth phase. CDI operates renowned gaming venues and online platforms, including TwinSpires, and is a leader in the gaming industry.
Churchill Downs Incorporated (Nasdaq: CHDN) reported a successful 147th Kentucky Derby on May 1, 2021, with Medina Spirit winning the race. The event attracted 51,838 attendees and generated $233 million in total wagering, marking an 85% increase from 2020. All-sources handle on Derby Day saw a 96% rise to $155.4 million, while TwinSpires recorded a record $62.7 million in handle for the day. The company continues to invest in the Kentucky Derby experience, emphasizing community engagement through charitable initiatives.
Churchill Downs Incorporated (CHDN) reported a successful 147th Kentucky Oaks with a wagering total of $54.3 million, a 76% increase from 2020. The race was won by Malathaat, bringing her lifetime earnings to over $1.2 million. The event attracted 41,472 spectators, showcasing the racetrack's ability to host events safely. Additionally, CDI emphasized its commitment to charitable initiatives, contributing over $1 million towards cancer detection and prevention. The company also operates an extensive online wagering platform and multiple gaming venues across the U.S.
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