Churchill Downs Incorporated (CHDN)

Over the past year, Churchill Downs (CHDN) stock has experienced a -23.33% change, with its 52-week range between $85.58 and $125.87. Key events impacting the stock in the past six months include the Q3 2025 earnings report with record revenue but decreased net income due to a one-time impairment, a $500 million share repurchase program, a dividend increase, strategic expansions and acquisitions including the expansion of Rosie's Richmond, acquisition of Casino Salem, and opening of Roseshire Gaming Parlor, and analyst price targets with a median target of $134.5.

Demand for Churchill Downs, Inc.'s products and services exhibits seasonality, primarily driven by its horse racing events, most notably the Kentucky Derby. The Kentucky Derby brings a seasonal influx of cash and boosts the local economy. The company has diversified revenue streams beyond the Kentucky Derby, focusing on gaming and online wagering to provide more consistent, year-round cash flow. The expansion into Historical Racing Machines (HRMs) and regional casinos aims to mitigate the reliance on highly seasonal events. The TwinSpires online wagering platform also provides a continuous revenue stream from horse racing globally.

Churchill Downs, Inc. (CHDN) is an American entertainment and gaming company, known for operating the Churchill Downs racetrack, home of the Kentucky Derby. The company operates in the Hotels, Restaurants, and Leisure sector, and the Gaming, Entertainment, and Racing industry. CHDN's business is divided into Live and Historical Racing, Gaming, and Wagering Services and Solutions. The Live and Historical Racing segment includes live horse racing and historical horse racing machines (HRMs). The Gaming segment comprises casino properties with slot machines, table games, and ancillary services. The Wagering Services and Solutions segment includes the TwinSpires online horse race wagering platform.

Churchill Downs, Inc. is headquartered in Louisville, Kentucky, and has expanded its operations across multiple U.S. states. Its live racing segment oversees racetracks and racing festivals in various states. The gaming division operates casino properties and racinos in states such as Kentucky, Illinois, Indiana, Iowa, Louisiana, Maine, Maryland, Mississippi, Missouri, New York, Ohio, Pennsylvania, Texas, and Virginia. The company has also expanded its Historical Racing Machine (HRM) footprint in Virginia and Kentucky, and is developing the Rockingham Grand Casino in Salem, New Hampshire, expected to open in mid-2027.

Churchill Downs, Inc. maintains a strong brand reputation, centered around the Kentucky Derby. The company's mission emphasizes preserving this American tradition and providing a premier entertainment experience. The Kentucky Derby's visibility attracts interest from well-respected brands for sponsorships. The company supports over 800 community nonprofits annually, contributing positively to its public image.

Churchill Downs Incorporated is a publicly traded company on the NASDAQ under the ticker symbol CHDN. Its ownership is distributed among a vast number of shareholders, with institutional investors holding the majority of the common stock. Major institutional owners include The Vanguard Group, Inc., BlackRock, Inc., Capital International Investors, The London Company of Virginia, LLC, State Street Corp, Fidelity Management & Research Company LLC, Jennison Associates LLC, Arrowstreet Capital, Limited Partnership, and Geode Capital Management, L.L.C.. Key individual owners include William C. Carstanjen (CEO), Daniel P. Harrington, and William E. Mudd (President and COO).