Highest-materiality recent filing
Churchill Downs reports record Q2 revenue $980M, net income $241M, Derby Week record
All-time record net revenue $980M (+5% YoY), net income $241M (+11%), diluted EPS $3.42.
Churchill Downs explores sale of eight regional gaming properties
Company completed comprehensive portfolio review and is exploring sale of eight wholly owned regional casinos and racetracks.
Churchill Downs Q1 revenue and profit up; acquires Preakness IP for $85M
Q1 record net revenue $663M (+3% YoY), net income $83M (+8%), diluted EPS $1.16 vs $1.02.
Churchill Downs annual meeting re-elects directors, ratifies auditor, approves say-on-pay
Re-elected Douglas C. Grissom (53.6M for, 6.0M against) and Daniel P. Harrington (56.4M for, 3.2M against) as Class III directors.
Churchill Downs Q4 revenue record $666M; net income falls 28% to $51.3M; dividend raised 7%
Q4 net revenue $665.9M (+7% YoY); full-year revenue $2,925.9M (+7% YoY).
Churchill Downs Q3 revenue +9% to $683M, adjusted EBITDA +11% to $262.3M; dividend raised 7%
Q3 net revenue $683.0M (+9% YoY); net income $38.1M (-42%) due to $31M non-cash impairment on Chasers' gaming rights.
Churchill Downs closes $180M acquisition of 90% stake in New Hampshire casino project
Acquired 90% equity interest in Casino Salem for $180M cash; funded by existing credit facility.
Churchill Downs Q2 2025: record revenue $934.4M, EPS $2.99, acquires Casino Salem for $180M
Net revenue $934.4M (+5% YoY), diluted EPS $2.99 (+$0.20), record Adjusted EBITDA $450.9M (+$6.1M).
Churchill Downs announces new $500M share repurchase program, replacing March 2025 authorization
Board approved $500M share repurchase program, replacing prior $500M program authorized in March 2025.
Churchill Downs to acquire 90% of Casino Salem for $180M cash
Acquires 90% equity in Salem, NH casino joint venture for $180M cash; will develop HHR gaming and entertainment venue.
Churchill Downs EVP Gaming Operations Maureen Adams to retire Dec 31, 2025
Maureen Adams, EVP Gaming Operations, notified retirement effective December 31, 2025.
Churchill Downs Q1 revenue record $642.6M (+9% YoY), net income down 5% to $76.7M
Diluted EPS $1.02 vs $1.08 YoY; Adjusted EBITDA $245.1M, up 1%.
Churchill Downs shareholders approve 2025 equity plan, reelect directors at annual meeting
Shareholders approved 2025 Omnibus Stock and Incentive Plan, authorizing up to 3.3M new shares (net of prior plan usage after Dec 31, 2024).
Churchill Downs director Ulysses L. Bridgeman Jr. passes away; board reduces to 7
Ulysses L. Bridgeman, Jr., Board member since 2012, died March 11, 2025.
Churchill Downs announces new $500M share repurchase program, replacing prior authorization
$500M share repurchase program authorized by Board of Directors, replacing September 2021 program.
Churchill Downs reports record Q4 net revenue $624.2M (up 11%), EPS $0.95
Full-year net revenue $2.7B (+11%), net income $426.8M (+2%), adjusted EBITDA $1.2B (+13%).
Churchill Downs amends credit agreement, reduces Term Loan B-1 margin by 0.25%
Reduced Term Loan B-1 interest margin by 0.25% and eliminated 0.10% credit spread adjustment; new rate SOFR + 1.75%.
Churchill Downs Q3: record revenue $628.5M, adj. EBITDA $235.3M; dividend up 7%
Net revenue $628.5M (+10% YoY), net income $65.4M (+7%), diluted EPS $0.86 vs $0.79.
Churchill Downs Q2 2024: record revenue $890.7M, EPS $2.79, Adjusted EBITDA $444.8M
Net revenue $890.7M (record, +16% YoY); net income $209.3M (+46%); diluted EPS $2.79 (vs $1.86).
Churchill Downs director Robert L. Fealy retires from board effective July 23, 2024
Robert L. Fealy resigned from Churchill Downs board on July 23, 2024, citing no disagreement with the company.
Churchill Downs closes credit amendment, extending revolver and term loan A maturities to 2029
Maturity date of Revolver and Term Loan A extended from 2027 to July 3, 2029, subject to springing maturity clause.
Churchill Downs Q1 record revenue $590.9M (+6%); net income down 48% on prior-year gain
Record Q1 net revenue $590.9M (+6% YoY); Adj EBITDA $242.5M (+9% YoY); diluted EPS $1.08 vs $2.05.
Churchill Downs shareholders elect three Class I directors, ratify PwC, approve say-on-pay
Directors Carstanjen, Lloyd, Varga elected with 61.1M, 58.2M, 61.3M votes for respectively.
Churchill Downs reports record 2023 revenue $2.5B; Q4 net income $57.6M
Record 2023 net revenue $2.5B, up 36% YoY; Adjusted EBITDA $1.0B, up 34%.
Churchill Downs repurchases 1M shares at $123.75 each from Duchossois affiliate
Repurchased 1,000,000 shares at $123.75/share, a 4.03% discount to prior close of $128.95.
Record net revenue $572.5M (+49% YoY); net income $61.0M (+7%); diluted EPS $0.79.
Churchill Downs completes $250M cash acquisition of Exacta Systems
Total consideration $250M in cash, subject to working capital adjustments.
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.
Churchill Downs partnership signs $562M casino host agreement with Richmond, VA
50/50 partnership with Urban One's RVA Entertainment Holdings enters Host Community Agreement with Richmond, VA.
Churchill Downs Q1 net revenue $559.5M record; net income $155.7M; EPS $4.09
Record net revenue $559.5M (+54% YoY); net income $155.7M vs $42.1M; diluted EPS $4.09 vs $1.08.
Churchill Downs shareholders elect 3 directors, ratify PwC, approve say-on-pay
Three Class III directors elected: Fealy (27.9M for), Grissom (29.2M for), Harrington (28.5M for).
Churchill Downs Board approves 2-for-1 stock split; trading begins May 22
Stock split effective at close of business on May 19, 2023; record date May 5, 2023.
Churchill Downs issues $600M of 6.750% senior notes due 2031
Issued $600M of 6.750% senior notes due 2031 with interest payable May 1 and Nov 1.
Churchill Downs prices $600M of 6.750% senior notes due 2031 to repay term loan
$600M aggregate principal, 6.750% senior notes due 2031, priced at 100% of par.
Churchill Downs proposes $600M senior notes due 2031 to refinance Term Loan B
$600M aggregate principal of senior notes due 2031 in a private offering.
Churchill Downs increases Term Loan A by $500M to $1.3B, repays revolver
Increased Term Loan A facility from $800M to $1.3B via Incremental Joinder Agreement No. 2.
Churchill Downs reports record 2022 revenue $1.81B (+13% YoY), net income $439.4M (+76% YoY)
Record 2022 net revenue $1,809.8M (+13% YoY); net income $439.4M (+76% YoY); Adjusted EBITDA $763.6M (+22% YoY).
P2E 2021 revenue $556.5M (HHR $271.1M, gaming $227.7M); net loss $37.8M.
Churchill Downs acquires Exacta Systems for $250M cash; HHR platform expansion
Acquires Exacta Systems for $250M in cash; expected to close in 2023 subject to regulatory approvals.
Churchill Downs appoints Andréa Carter to Board of Directors
Andréa Carter appointed as Class II Director effective December 15, 2022, filling a vacancy from board expansion.
Churchill Downs completes $2.75B acquisition of Peninsula Pacific Entertainment assets
Acquired Colonial Downs, six Rosie's HRM venues in Virginia, del Lago Resort & Casino (NY), Hard Rock Hotel & Casino (IA).
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.
Churchill Downs amends bylaws for universal proxy rules, meeting procedures
Eliminated requirement for annual meeting within 180 days of fiscal year-end.
Churchill Downs furnishes investor presentation; no specific financial data disclosed in filing
Investor presentation made available on September 7, 2022.
Amendment to Purchase Agreement with Peninsula Pacific Entertainment (P2E) includes Hard Rock Sioux City real property in transaction, total consideration $2.75 billion.
Churchill Downs adopts 2022 Executive Annual Incentive Plan effective Jan 1, 2022
Compensation Committee approved the 2022 Executive Annual Incentive Plan on July 29, 2022, effective Jan 1, 2022.
Churchill Downs Q2 2022: Record revenue $582.5M, EPS $8.79, Adjusted EBITDA $291.2M
Net revenue $582.5M (+13% YoY); net income $339.3M; diluted EPS $8.79 vs $2.76.
Churchill Downs files investor presentation; no specific financial data disclosed
Investor presentation made available on June 21, 2022 as Exhibit 99.1.
Record Q1 revenue $364.1M, EPS $1.08; announces $2.485B P2E acquisition
Net revenue $364.1M (+12% YoY), net income $42.1M, diluted EPS $1.08 vs $0.91.
Churchill Downs moves United Tote into TwinSpires segment; recasts 2021-2020 results
United Tote business reclassified from All Other to TwinSpires segment effective Q1 2022.
On July 23, 2024, Robert L. Fealy notified Churchill Downs Incorporated (the “Company”) of his decision to resign as a director of the Board of Directors of the Company (the “Board”) effective immediately.
On December 15, 2022, upon the recommendation of the Nominating and Governance Committee, the Board of Directors (the “Board”) of Churchill Downs Incorporated (the “Company”) appointed Andréa Carter as a Class II Director of the Company, effective immediately, to fill a vacancy created by an increase in the size of the Board.
Austin Miller, Senior Vice President of Gaming Operations, has notified Churchill Downs Incorporated (the 'Company') of his decision to retire, effective March 1, 2022.
Max materiality 0.90 · Median 0.65 · Most common event earnings