---
schema_version: "secwatch.filing_event.v1"
accession: "0000020212-25-000101"
form_type: "8-K"
ticker: "CHDN"
cik: "0000020212"
company_name: "Churchill Downs Inc"
filed_at: "2025-07-23T23:59:59+00:00"
generated_at: "2026-05-18T03:43:28.123434+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Churchill Downs Q2 2025: record revenue $934.4M, EPS $2.99, acquires Casino Salem for $180M

## Summary
- Net revenue $934.4M (+5% YoY), diluted EPS $2.99 (+$0.20), record Adjusted EBITDA $450.9M (+$6.1M).
- Kentucky Derby set all-time records for handle and viewership (avg 17.7M viewers, +6%).
- Announced acquisition of 90% of Casino Salem in New Hampshire for $180M cash.
- Board approved new $500M share repurchase program; $250.4M repurchased in Q2.
- Federal tax bill (H.R.1) expected to increase cash flow; $91.2M deferred tax asset now utilizable.

## SEC filing metadata
- accession: 0000020212-25-000101
- form_type: 8-K
- ticker: CHDN
- cik: 0000020212
- company_name: Churchill Downs Inc
- filed_at: 2025-07-23T23:59:59+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/20212/000002021225000101/0000020212-25-000101-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20212/000002021225000101/chdn-20250723.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000020212-25-000101
- JSON: https://secwatch.observer/filing/0000020212-25-000101.json
- Plain text: https://secwatch.observer/filing/0000020212-25-000101.txt

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