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Churchill Downs Incorporated operates a racing, online wagering, and regional gaming business built around Churchill Downs Racetrack and the Kentucky Derby. Company updates cover Kentucky Derby Week, the Kentucky Oaks, seasonal race meets, TwinSpires wagering activity, and the operation and expansion of live and historical racing entertainment venues.
Recurring CHDN news also includes regional casino gaming properties, historical racing machine venues such as Marshall Yards, quarterly operating results, dividends, share repurchases, leverage, and regulatory or legal matters affecting pari-mutuel racing and racing-industry fees.
Churchill Downs (Nasdaq: CHDN) and the New York Racing Association announced the new Thoroughbred Championship Series, a six-race championship for three-year-old Thoroughbreds launching in 2027. The series will run from the first Saturday in May through September across Churchill Downs, Belmont Park and Saratoga Race Course.
The 2027 lineup is expected to feature the Kentucky Derby, Belmont Stakes, Matt Winn, Jim Dandy, Travers and a new Championship Race. A unified points system and an additional $5 million prize pool will be awarded based on final standings. Races will be nationally televised, with Churchill Downs events on NBC and NYRA events on FOX, and CDI and NYRA will jointly manage rules, nominations, marketing, sponsorship, wagering and distribution.
Churchill Downs (Nasdaq: CHDN) signed a definitive agreement to acquire the remaining 49% of United Tote Company from NYRA Content Management Solutions, a subsidiary of the New York Racing Association. The deal will restore 100% ownership of United Tote to Churchill Downs.
Churchill Downs previously sold this 49% stake to NYRA in April 2024, when NYRA agreed to use United Tote for racetrack and gaming-related pari-mutuel wagering systems. Concurrent with the new transaction, NYRA has agreed to extend its tote services agreement with United Tote through 2035. United Tote provides pari-mutuel wagering and totalisator technology to Churchill Downs-operated facilities and third-party racetracks, OTBs and other wagering operators. According to Churchill Downs, the acquisition aligns with its long-term strategy to own and vertically integrate key horse racing and pari-mutuel wagering technologies and to strengthen its role as a B2B distributor of racing content. The transaction is expected to close by August 5, 2026.
Churchill Downs (Nasdaq: CHDN) provided an update on three capital projects at Churchill Downs Racetrack scheduled for completion around the 153rd and 154th Kentucky Derbys in 2027 and 2028. The projects are the new Victory Run premium hospitality venue, an expansion of the Homestretch Club, and an upgraded infield seating and entertainment area.
Victory Run, a four-story structure between the Ford First Turn Club and Skye Terrace, began construction after the 152nd Derby and is expected to open by the 154th in 2028, with suites, indoor/outdoor dining and covered boxes. For the 153rd Derby in 2027, Churchill Downs expects to offer temporary covered seating with enhanced amenities in this area. The Homestretch Club expansion, targeted for completion by the 153rd Derby, will add space, VIP seating and upgraded food and beverage infrastructure. The Infield Seating Upgrade, also expected by the 153rd Derby, will remove tote boards near the Winners’ Pagoda, add 1,400 temporary seats and test an infield cabana concept with 500 covered reserved seats, plus infrastructure for a sponsored music stage and new bar and lounge concepts.
Churchill Downs (Nasdaq: CHDN) reported record second quarter 2026 results, with net revenue of $980 million, up 5% year over year, net income attributable to CDI of $241 million, up 11%, and record Adjusted EBITDA of $477 million, up 6%. Diluted EPS rose to $3.42, while adjusted diluted EPS reached $3.45.
Live and Historical Racing revenue increased to $575 million and Adjusted EBITDA to $318 million, driven by a record Kentucky Derby Week and growth at Kentucky and Virginia HRM venues. Wagering Services and Solutions revenue grew to $178 million and Adjusted EBITDA to $52 million, while Gaming revenue rose to $270 million with Adjusted EBITDA of $133 million. The company ended the quarter with net bank leverage of 3.7x.
Churchill Downs (Nasdaq: CHDN) reported that the State of Maryland notified the company of its intention to exercise statutory rights to acquire the Preakness Stakes and Black-Eyed Susan Stakes IP from 1/ST Maryland LLC.
Maryland plans to match CDI’s previously announced $85 million purchase price. CDI’s CEO said the company will work with state leaders on Pimlico and Preakness redevelopment.
Churchill Downs (CHDN) will release its second quarter 2026 financial results after the market closes on Wednesday, July 29, 2026. The company will host a related conference call on Thursday, July 30, 2026 at 9 a.m. ET, available via webcast and teleconference registration.
Churchill Downs Incorporated (Nasdaq: CHDN) announced that Always A Runner won the 152nd Longines Kentucky Oaks on May 1, 2026, covering 1-1/8 mile in 1:48.82 and earning a 1-1/4 length victory at 5-1 odds.
Event highlights: primetime NBC/Peacock broadcast debut, attendance over 103,000, all-sources wagering record of $89 million (up 18%), Kentucky Oaks race handle > $29 million (up 29%), and TwinSpires record of $24 million (up 24%). The Oaks continued its Survivors Parade charity, which has raised nearly $2 million for women’s health initiatives.
Churchill Downs (Nasdaq: CHDN) reported Q1 2026 results with record net revenue of $663 million (up $20 million, 3%) and record Adjusted EBITDA of $257 million (up $12 million, 5%). Net income attributable to CDI was $83 million (up $6 million, 8%).
Key strategic actions: an $85 million purchase agreement for Preakness Stakes IP, a planned $180–$200 million investment in Rockingham Grand Casino (mid-2027 target), opening of Marshall Yards Racing & Gaming, and a $0.438 per-share dividend paid in January 2026. Net bank leverage was 3.8x and $31 million of capital was returned to shareholders.
Churchill Downs (Nasdaq: CHDN) agreed to buy the intellectual property for the Preakness Stakes and Black-Eyed Susan Stakes for $85 million from 1/ST Maryland LLC, subject to customary closing conditions.
The Preakness IP will be licensed back to the State of Maryland under an Exclusive License Agreement for an annual fee. The parties expect the transaction to close after the 2026 Preakness. Funding will come from cash on hand and the company’s existing credit facility.
Churchill Downs (Nasdaq: CHDN) announced a U.S. District Court ruling (Western District of Kentucky) finding the Horseracing Integrity and Safety Authority’s purse-weighted fee methodology arbitrary and capricious and unlawful.
The company said the decision prohibits HISA’s efforts to collect fees under that methodology and characterized the ruling as validation for bringing the legal action.