---
schema_version: "secwatch.filing_event.v1"
accession: "0000020212-25-000050"
form_type: "8-K"
ticker: "CHDN"
cik: "0000020212"
company_name: "Churchill Downs Inc"
filed_at: "2025-02-19T23:59:59+00:00"
generated_at: "2026-05-26T12:34:41.521273+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Churchill Downs reports record Q4 net revenue $624.2M (up 11%), EPS $0.95

## Summary
- Full-year net revenue $2.7B (+11%), net income $426.8M (+2%), adjusted EBITDA $1.2B (+13%).
- Q4 segment: Live & Historical Racing revenue $275.5M; Gaming revenue $257.5M; Wagering Services $108.0M.
- Opened Terre Haute Casino Resort (Apr 2024), Rose Gaming Resort (Nov 2024), and Owensboro Racing & Gaming (Feb 2025).
- Annual dividend raised 7% to $0.409 per share; 14th consecutive annual increase.
- 2025 project capital expected $350-400M; net bank leverage 4.0x; $149.6M remaining share repurchase authority.

## SEC filing metadata
- accession: 0000020212-25-000050
- form_type: 8-K
- ticker: CHDN
- cik: 0000020212
- company_name: Churchill Downs Inc
- filed_at: 2025-02-19T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/20212/000002021225000050/0000020212-25-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20212/000002021225000050/chdn-20250219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000020212-25-000050
- JSON: https://secwatch.observer/filing/0000020212-25-000050.json
- Plain text: https://secwatch.observer/filing/0000020212-25-000050.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.