Welcome to our dedicated page for Churchill Downs news (Ticker: CHDN), a resource for investors and traders seeking the latest updates and insights on Churchill Downs stock.
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 (Nasdaq: CHDN) reported a record net revenue of $559.5 million for Q1 2023, up from $364.1 million in Q1 2022. Net income soared to $155.7 million compared to $42.1 million a year earlier, with a diluted EPS of $4.09. Adjusted EBITDA reached a record $222.9 million, reflecting a 74% increase from $128.5 million in Q1 2022. Significant growth was observed across all segments, with Live and Historical Racing up 194%, Gaming up 42%, and TwinSpires increasing by 22%. The company also closed the sale of Arlington Heights property for $197.2 million and amended its credit agreements, raising a total of $600 million through senior notes. A two-for-one stock split was announced, effective May 22, 2023.
On April 25, 2023, Churchill Downs Incorporated (CHDN) announced a two-for-one stock split approved by its Board of Directors. Shareholders will receive one additional share for each outstanding share held as of May 5, 2023. The additional shares are set to be distributed on May 19, 2023, with trading at the split-adjusted price commencing on May 22, 2023. This action is aimed at enhancing liquidity and accessibility for investors. With a legacy of nearly 150 years, CDI has expanded its presence in entertainment, live racing, and online wagering.
Churchill Downs Incorporated (Nasdaq: CHDN) announced its intention to offer $600 million in senior notes due 2031 in a private offering. The funds obtained from this offering will be used primarily to repay existing debt under its Term Loan B Facility, cover transaction fees, and for general corporate purposes. The notes will not be registered under the Securities Act and are being sold only to qualified institutional buyers. Additionally, the company will register these notes for resale if they are not freely tradable after one year. This announcement follows CDI's established history of providing entertainment experiences, notably through the Kentucky Derby and its operations in casino and online wagering.
Churchill Downs Incorporated (CHDN) announced that it will release its first quarter 2023 financial results after market close on April 26, 2023, followed by a conference call on April 27, 2023, at 9 a.m. ET. Investors can access the call through an online webcast or via teleconference after registering for a personalized dial-in number. A replay will be available online after the call. The company has a long history of providing entertainment experiences, highlighted by the Kentucky Derby, and has expanded through live and historical racing venues, online wagering through TwinSpires, and regional casino properties. Further financial details will be shared in the news release accessible through their website.
FAQ
What is the current stock price of Churchill Downs (CHDN)?
What is the market cap of Churchill Downs (CHDN)?
What is Churchill Downs Incorporated?
What are the main business segments of CDI?
What events are Churchill Downs famous for?
What is TwinSpires?
What does the Gaming segment of CDI include?
Where is Churchill Downs Incorporated headquartered?
What are some recent achievements of CDI?
What kind of operations does the Live and Historical Racing segment include?
How does CDI support its casino licenses?
Who should I contact for more information about CDI?
