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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.
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Exacta Systems completes the installation of 175 Exacta Connect powered terminals at The Brook in New Hampshire, solidifying its position in Historical Horse Racing technology. The partnership aims to enhance gaming offerings for players and ensure a successful collaboration between Exacta Systems and The Brook.
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Churchill Downs Incorporated (CHDN) announces the installation of 175 Exacta-technology driven terminals at The Brook in Seabrook, New Hampshire. The terminals feature top HRM gaming titles from leading manufacturers, enhancing gaming content for customers.
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Churchill Downs Incorporated (CHDN) plans to open Owensboro Racing & Gaming in early 2025, featuring 600 historical racing machines, a sportsbook, and various dining options. The $100 million investment aims to support Ellis Park Racing & Gaming and boost the Kentucky horse racing industry.
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Churchill Downs Incorporated (CHDN) announces an increase in historical racing machines at The Rose Gaming Resort in Northern Virginia, with 500 more HRMs than originally planned. The total capital investment is expected to be $460 million, with $160 million remaining to be spent. The Rose is set to open by the end of September 2024, offering a hotel, food options, and parking spaces.
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Churchill Downs Incorporated (CHDN) reported a record net revenue of $2.5 billion in 2023, a 36% increase from the previous year. Despite a 5% decrease in net income, the company achieved a record Adjusted EBITDA of $1.0 billion. Strategic acquisitions, property sales, and expansion projects contributed to the positive financial results. The company also focused on returning capital to shareholders through share repurchases and dividend increases.
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Churchill Downs Incorporated (CHDN) announced a multi-year agreement naming SAP America, Inc. as an official signature partner of Churchill Downs Racetrack, the Kentucky Derby, and Kentucky Oaks. The partnership includes naming rights for the SAP Starting Gate Suites, designation as the presenting partner of the Kentucky Derby and Churchill Downs mobile applications, and collaboration to support the growth of CDI. SAP, a global market leader in enterprise application software, will be the first official technology partner serving Churchill Downs Racetrack. The agreement reflects the commitment to innovation and growth across businesses.
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Churchill Downs Incorporated (CDI) will release its fourth quarter and full year 2023 financial results on February 21, 2024, and host a conference call on February 22, 2024, to discuss the quarter. Investors and interested parties can access the call via webcast or teleconference. An online replay of the call will also be available.
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Churchill Downs Incorporated (CDI) announced a multi-year partnership with Sports Illustrated for exclusive naming rights of a new luxury dining experience, Club SI, ahead of the 150th Kentucky Derby. Club SI will debut on Opening Night of Derby Week, offering a modern, sophisticated race day experience as part of the $200 million renovated Paddock Project at Churchill Downs. The club will feature an immersive view of the all-new Paddock and Paddock Runway, showcasing iconic Sports Illustrated magazine covers, editorial featuring past Kentucky Derby races, and a sneak peek into Sports Illustrated’s new SI Resorts vertical. Celebrity ambassadors will host Club SI during the Kentucky Derby and the Kentucky Oaks. The club will offer gourmet dishes, designated wagering windows, private bars, and outdoor trackside viewing for live races, providing an elevated and unique Derby weekend experience.
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Churchill Downs Incorporated (CDI) announced the repurchase of 1,000,000 shares of its common stock for $123.75 per share from an affiliate of The Duchossois Group, Inc. in a privately negotiated transaction, totaling $123.75 million. The transaction is expected to close on January 2, 2024.
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Churchill Downs Incorporated (CDI) announced the opening of Derby City Gaming Downtown (DCG Downtown) in Louisville, Kentucky, marking its sixth historical racing machine (HRM) entertainment venue in the state. The $90 million investment includes a 43,000 sq. ft. two-story Kentucky Derby themed entertainment venue with 500 state-of-the-art HRMs, three unique food and beverage experiences, and a Kentucky Derby gift shop. The opening generated 400 construction jobs and will result in over 150 permanent jobs, while also focusing on supplier diversity, economic inclusion, and community engagement. The opening coincides with the milestone countdown of 150 days to the 150th running of the Kentucky Derby.
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FAQ
What is the current stock price of Churchill Downs (CHDN)?
The current stock price of Churchill Downs (CHDN) is $132.23 as of December 20, 2024.
What is the market cap of Churchill Downs (CHDN)?
The market cap of Churchill Downs (CHDN) is approximately 9.8B.
What is Churchill Downs Incorporated?
Churchill Downs Incorporated (CDI) is a gaming entertainment and racing company based in Louisville, KY, known for hosting the Kentucky Derby.
What are the main business segments of CDI?
CDI operates through Live and Historical Racing, TwinSpires, and Gaming segments.
What events are Churchill Downs famous for?
Churchill Downs is renowned for the Kentucky Derby and Kentucky Oaks races.
What is TwinSpires?
TwinSpires is CDI's segment for online horse racing, sports betting, and iGaming.
What does the Gaming segment of CDI include?
The Gaming segment includes casino operations with slot machines, table games, video lottery terminals, video poker, and ancillary services like food and beverage.
Where is Churchill Downs Incorporated headquartered?
Churchill Downs Incorporated is headquartered in Louisville, Kentucky.
What are some recent achievements of CDI?
Recent achievements include the opening of the Seventh Kentucky HRM Entertainment Venue in early 2025 and installation of Exacta-Technology Driven Terminals at The Brook.
What kind of operations does the Live and Historical Racing segment include?
This segment includes live and historical pari-mutuel racing events.
How does CDI support its casino licenses?
CDI supports its casino licenses through racetrack operations that generate revenue and expenses from various gaming and racing events.
Who should I contact for more information about CDI?
For more information, you can contact Kaitlin Buzzetto at (502) 394-1091 or via email at Kaitlin.Buzzetto@kyderby.com.
Churchill Downs Inc
Nasdaq:CHDN
CHDN Rankings
CHDN Stock Data
9.85B
66.21M
9.92%
79.2%
2.22%
Gambling
Services-racing, Including Track Operation
United States of America
LOUISVILLE