Churchill Downs Inc

CHDN

Equity

ISIN US1714841087 / Valor 917716

NASDAQ (2025-03-28)

USD 111.23-1.04%

Churchill Downs Inc
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About company

Churchill Downs Incorporated (CDI), headquartered in Louisville, Kentucky, is a prominent player in the gaming and racing industry, particularly known for its ownership of the legendary Churchill Downs Racetrack, the prestigious venue of the Kentucky Derby. The company operates across various segments, including online wagering through its TwinSpires platform, which is recognized as one of the largest and most profitable platforms for horse racing wagering in the United States. CDI's business extends to live and historical racing, featuring a mix of Thoroughbred and harness racing across several states, alongside historical racing machine (HRM) entertainment venues. These venues, such as Derby City Gaming & Hotel and Oak Grove Racing, Gaming & Hotel, offer a combination of racing entertainment and gaming options under the company's pari-mutuel racing license. Additionally, CDI's portfolio includes regional casino gaming properties across 11 states, further diversifying its entertainment offerings. The company's strategic expansion into both live and historical racing entertainment venues, alongside the development of its online wagering and casino gaming segments, underscores its significant footprint in the U.S. gaming and racing industry.

Summarized from source with an LLMView SourceSector: Consumer Services

Record Revenue

Churchill Downs Inc reported record net revenue of $628.5 million for the third quarter of 2024, marking an increase from $572.5 million in the same quarter of 2023. This growth was driven by strong performances across its Live and Historical Racing and Gaming segments.

Net Income Growth

The company achieved a record net income attributable to Churchill Downs Inc of $65.4 million in the third quarter of 2024, compared to $61.0 million in the third quarter of 2023. This increase was primarily due to improved operational results, despite higher interest expenses.

Adjusted EBITDA

Churchill Downs Inc reported a record Adjusted EBITDA of $235.3 million for the third quarter of 2024, up from $218.2 million in the same period of the previous year. The growth was attributed to strong performances in the Live and Historical Racing, Gaming, and TwinSpires segments.

Dividend Increase

The Board of Directors of Churchill Downs Inc approved an annual cash dividend of $0.409 per share, representing a 7% increase over the previous year. This marks the fourteenth consecutive year of increased dividends, reflecting the company's commitment to returning capital to shareholders.

Segment Performance

In the third quarter of 2024, Churchill Downs Inc's Live and Historical Racing segment saw a 12% increase in revenue, while the TwinSpires segment experienced a 6% revenue growth. The Gaming segment also reported a 10% increase in revenue, highlighting the company's robust performance across its business segments.

Summarized from source with an LLMView Source

Key figures

-10.1%1Y

-0.26%3Y

137%5Y

Performance

23.7%1Y

32.0%3Y

45.9%5Y

Volatility