secwatch.observer — SEC 8-K summary
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Issuer:     Churchill Downs Inc (CHDN)
CIK:        0000020212
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000020212-23-000113
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Churchill Downs Q2 revenue record $768.5M; adjusted EBITDA up 25% but net income down on prior-year gain
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- Net revenue $768.5M (record), up 32% YoY; net income $143.0M vs $339.3M due to $193.6M prior-year gain on Calder sale.
- Adjusted EBITDA $363.7M (record), up 25% YoY; diluted EPS $1.86 vs $4.39 (adjusted for stock split).
- Live and Historical Racing segment revenue $408M (+48%), Adjusted EBITDA $223.5M (+36%), driven by Virginia P2E acquisition and record Derby Week.
- Gaming segment revenue $247.9M (+34%), Adjusted EBITDA $123.4M (+16%), driven by P2E New York and Iowa properties.
- Closed $600M 6.750% senior notes due 2031; two-for-one stock split effective May 22.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/20212/000002021223000113/0000020212-23-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/20212/000002021223000113/chdn-20230726.htm
  HTML page:      https://secwatch.observer/filing/0000020212-23-000113

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer