Churchill Downs Inc. (CHDN) is a globally recognized multi-jurisdictional provider of pari-mutuel wagering, online account wagering on horse racing, and casino operations. It is most notable for its namesake, Churchill Downs Racetrack – the legendary home of the Kentucky Derby.
Established in 1875, the company is headquartered at the historic Churchill Downs in Louisville, Kentucky. Over the years, the company has grown significantly and now owns and operates multiple racing facilities and casinos in different regions, which include the Arlington Park Racecourse, Calder Casino, Fair Grounds Race Course, Miami Valley Gaming, and Riverwalk Casino-Hotel, among many other properties.
Despite its traditional roots in horse racing, Churchill Downs Inc. maintains a diversified portfolio of businesses. It is a considerable player in the online gaming sector, offering wagering through its TwinSpires platform. This online business has solidified the company’s leadership in the broader entertainment industry through the use of technology and innovation.
Furthermore, Churchill Downs Inc. has a robust business model structured on four segments: Racing, Casinos, TwinSpires and other Investments. The Racing segment involves earnings from wagering on live thoroughbred racing and training fees. The Casinos operation provides brick-and-mortar real-money casino gaming, offering a range of slot, table game and poker machine offerings. The TwinSpires segment covers both online and telephone wagering on horse races. Lastly, the 'other investments' segment includes certain corporate costs and expenditures that are not allocated among the company's other operating segments.
The company has been listed on the NASDAQ with the ticker symbol 'CHDN' and is a part of the S&P 400 index. The financial performance of Churchill Downs Inc. has been on the rise, with the company reporting solid revenues and earnings, driven by its diversified business segments and strong operational performance. It has also been noted for its sustained efforts in community development and charity. Its charitable initiative, Churchill Downs Incorporated Foundation, has made significant contributions in areas of education, public health, and the betterment of the racing industry.
Churchill Downs Inc. has marked its dominance in the racing and entertainment industry with its dedication towards customer service, commitment to excellence, and strategic growth initiatives. Few companies can boast hosting an event synonymous with a sport the way Churchill Downs Inc. can with the Kentucky Derby, which truly sets it apart in a class of its own.
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This article provides an overview of analyst ratings for two consumer cyclical companies: Churchill Downs (CHDN) and Flutter Entertainment PLC (FLUT). Bank of America Securities reiterated a Buy rating on Churchill Downs with a $126.11 average price target, while maintaining a Hold rating on Flutter Entertainment PLC with a $115.00 price target. The report highlights analyst consensus and recent price target adjustments for both stocks.
Jim Cramer recommended buying Regal Rexnord Corporation, stating it's a "basic American company that is worth so much more than it's selling for," citing its better-than-expected Q3 financial results. He also advised not to overlook Churchill Downs, calling it a "very well-run gaming company" that sells inexpensively compared to peers, noting its strong Q3 earnings and a new share repurchase program. Cramer was less optimistic about Snap and Perimeter Group Inc., and suggested a staggered buying strategy for Marvell Technology.
FMR LLC and Abigail P. Johnson have disclosed a significant 6.3% beneficial ownership stake in Churchill Downs Inc, as detailed in a recent Schedule 13G filing with the SEC. Both parties reported owning 4,397,588.24 shares of common stock. The filing, triggered on September 30, 2026, indicates that their holdings were acquired in the ordinary course of business and not for influencing company control.
Apprentice jockey Yomar Ortiz Jr., 17, achieved his first career riding double at Churchill Downs, winning Race 2 aboard Tiffany Twist and Race 5 on Jackie's Player. This milestone comes less than a month after his professional debut at Keeneland. Ortiz, who has trained with Joe Sharp and Shug McGaughey, is set to ride this winter at Turfway Park.
Churchill Downs has appointed Michael Tucker, founder and managing partner of Orvieto Partners, to its Board of Directors. Tucker brings over 30 years of investment management experience, particularly in sports, entertainment, and leisure, aligning with Churchill Downs' diverse portfolio. His appointment expands the board to eight members and is expected to enhance expertise in investment strategy, financial analysis, and capital allocation, contributing to the company's continued growth and value creation.
ProShare Advisors LLC increased its stake in Churchill Downs (NASDAQ:CHDN) by 13.8% in the third quarter, adding over 40,000 shares to hold a total of 331,954 shares valued at $25.1 million. The company reported strong quarterly earnings, exceeding analyst expectations with $1.23 EPS and $696 million in revenue, while analysts maintain a "Moderate Buy" rating with an average price target of $126.70. Churchill Downs also declared an increased annual dividend of $0.4690 per share.
Voters in Amherst and Pulaski counties are set to decide on referendums regarding pari-mutuel wagering, which could lead to the establishment of Rosie’s Gaming Emporium facilities by Churchill Downs Incorporated. These facilities, classified as historical horse racing, are supported by proponents for new entertainment and revenue, while opponents express concerns about the impact on local businesses. Amherst County had previously rejected a similar referendum in 2021.
Virginia Retirement Systems significantly increased its stake in Churchill Downs by 1,083.3%, purchasing an additional 45,500 shares, bringing its total to 49,700 shares valued at approximately $3.76 million. This increase follows Churchill Downs' strong third-quarter performance, where it exceeded earnings expectations with $1.23 EPS and $696 million in revenue, leading the company to raise its annual dividend by 7.1% and prompting broadly positive analyst ratings.
Churchill Downs Incorporated and The New York Racing Association have announced an expansion of the Thoroughbred Championship Series in 2027 to include a new Oaks Division for three-year-old fillies. This new division will feature four Grade 1 races, culminating in a $1 million prize pool and an invitation for the winner to compete in the TCS Championship Race against the top three-year-olds. The expansion aims to further showcase elite horses and increase fan engagement throughout the racing season.