secwatch.observer — SEC 8-K summary
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Issuer:     Churchill Downs Inc (CHDN)
CIK:        0000020212
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0000020212-22-000152
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Churchill Downs Q3 revenue $383.1M, adj EBITDA record $163.2M; closes Ellis Park buy, $2.75B P2E deal pending
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- Q3 net revenue $383.1M (down 2.5% YoY); net income $57.0M ($1.49 EPS) vs $61.4M ($1.57 EPS) in Q3 2021.
- Record Q3 Adjusted EBITDA of $163.2M, up from $156.1M YoY; driven by Live & Historical Racing and TwinSpires segments.
- Completed acquisitions of Chasers Poker Room (NH) for ~$150M total and Ellis Park (KY) for $79M cash; expects additional ~$75M investment.
- Signed definitive $2.75B deal to acquire P2E assets (Colonial Downs, HRM venues, del Lago, Hard Rock Sioux City); expected close before end of 2022.
- Annual dividend raised 7% to $0.714/share; repurchased 288,781 shares for $59M in Q3; $300.2M remaining.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/20212/000002021222000152/0000020212-22-000152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/20212/000002021222000152/chdn-20221026.htm
  HTML page:      https://secwatch.observer/filing/0000020212-22-000152

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