Churchill Downs Inc
NASDAQ:CHDN

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Churchill Downs Inc
NASDAQ:CHDN
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Price: 95.98 USD 2.23% Market Closed
Market Cap: 6.9B USD

Churchill Downs Inc
Investor Relations

Churchill Downs Incorporated, founded in 1875 and famously home to the Kentucky Derby, has cultivated its brand into an iconic player in the horse racing industry. Nestled in the heart of Louisville, Kentucky, the company's centerpiece is the Churchill Downs Racetrack, where the annual "Run for the Roses" captivates millions. However, Churchill Downs Inc. has transitioned well beyond just hosting horse races; it leverages its historic reputation to draw in spectators and bettors, both at the track and across its burgeoning digital platforms. These events not only rake in substantial revenue from admission fees, broadcasting rights, and concessions but also create a robust ecosystem for gambling, which is a significant revenue pillar.

Over the years, the company has strategically diversified its portfolio, crafting a multifaceted business model. Alongside its physical racetracks, Churchill Downs Inc. has expanded into the realm of online wagering, notably with its TwinSpires platform, allowing users to place bets from the comfort of their homes on a variety of sports and racing events. Furthermore, its acquisition strategy has been keenly focused on regional casinos and gaming properties, with a growing presence across states in the U.S., underscoring a deliberate move to capture a larger share of the gaming market. This blend of tradition and innovation has enabled Churchill Downs Inc. to remain a heavyweight in the horse racing industry while tapping into broader gambling trends that continue to evolve.

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Earnings Calls

2025 Q1
Apr 24, 2025
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Record Performance Amid Economic Uncertainty
2025 Q1
Apr 24, 2025

In the first quarter of 2025, Churchill Downs delivered record net revenue of $643 million and adjusted EBITDA of $245 million, buoyed by strong results in Live & Historical Racing, which saw an 11% revenue increase. Although new venues like The Rose performed well, some existing properties in Virginia faced a 3% EBITDA decline due to competitive pressures and economic uncertainty. A major $900 million project for the Kentucky Derby is paused to reassess costs amid inflation concerns. Looking ahead, the company anticipates stable growth and comparability with last year's Derby results, supported by strategic investments and an unwavering commitment to shareholder value.

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Management

Mr. William C. Carstanjen
CEO & Director
No Bio Available
Mr. William E. Mudd
President & COO
No Bio Available
Ms. Marcia Ann Dall CPA
Executive VP & CFO
No Bio Available
Mr. Bradley K. Blackwell J.D.
Executive VP, General Counsel & Secretary
No Bio Available
Ms. Maureen Adams
Executive Vice President of Gaming Operations
No Bio Available
Jon E. Rauch
VP & Chief Accounting Officer
No Bio Available
Mr. Nate Simon
Senior VP & CTO
No Bio Available
Sam Ullrich
Vice President of Investor Relations
No Bio Available
Tonya Abeln
Vice President of Corporate Communications
No Bio Available
Mr. Jason Sauer
Senior Vice President of Corporate Development
No Bio Available

Contacts

Address
KENTUCKY
Louisville
600 N Hurstbourne Pkwy Ste 400
Contacts