---
schema_version: "secwatch.filing_event.v1"
accession: "0000020212-25-000134"
form_type: "8-K"
ticker: "CHDN"
cik: "0000020212"
company_name: "Churchill Downs Inc"
filed_at: "2025-10-22T23:59:59+00:00"
generated_at: "2026-05-17T02:51:41.007725+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Churchill Downs Q3 revenue +9% to $683M, adjusted EBITDA +11% to $262.3M; dividend raised 7%

## Summary
- Q3 net revenue $683.0M (+9% YoY); net income $38.1M (-42%) due to $31M non-cash impairment on Chasers' gaming rights.
- Adjusted net income $77.1M (+7%); Adjusted EBITDA $262.3M (+11%).
- Dividend increased 7% to $0.438/share; payable Jan 6, 2026 to holders of record Dec 5, 2025.
- Repurchased $53.5M of stock (515,527 shares) in Q3; $461.5M remaining under July 2025 program.
- Acquired 90% of Casino Salem for $180M; expanded Rosie's Richmond and opened Roseshire Gaming Parlor.

## SEC filing metadata
- accession: 0000020212-25-000134
- form_type: 8-K
- ticker: CHDN
- cik: 0000020212
- company_name: Churchill Downs Inc
- filed_at: 2025-10-22T23:59:59+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/20212/000002021225000134/0000020212-25-000134-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20212/000002021225000134/chdn-20251022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000020212-25-000134
- JSON: https://secwatch.observer/filing/0000020212-25-000134.json
- Plain text: https://secwatch.observer/filing/0000020212-25-000134.txt

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