Churchill Downs Incorporated Opens Marshall Yards Racing & Gaming in Southwestern Kentucky
Rhea-AI Summary
Churchill Downs Incorporated (Nasdaq: CHDN) announced the grand opening of Marshall Yards Racing & Gaming in Calvert City, Kentucky, to the public on February 25, 2026. The project is a $40–45 million investment and is CDI’s eighth historical racing venue in Kentucky.
The 23,000 square foot facility includes 225 historical racing machines, a retail sportsbook, simulcast wagering, and food and beverage options. According to the company, Marshall Yards will help fund purses for the Oak Grove Racing, Gaming & Hotel racing meet, and aims to boost regional tourism and local economic activity.
Positive
- Capital investment of $40–45 million expands CDI footprint
- 225 HRM plus retail sportsbook broadens revenue channels
- 23,000 sq ft venue adds a sizable local entertainment destination
- Facility will support purse funding for Oak Grove racing meet
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
CHDN is up 2.33% on above-average volume while sector peers are mixed; SGHC, the only peer in the momentum scanner, is down 2.62%, indicating today’s move appears stock-specific rather than a broad gambling-sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 10 | Derby week update | Positive | +2.5% | Announced 152nd Spring Meet schedule and major Derby Week purse details. |
| Jan 20 | Marshall Yards timing | Positive | -2.9% | Set Marshall Yards grand opening date and detailed venue features. |
| Jan 12 | Salem casino plan | Positive | -2.0% | Outlined Rockingham Grand Casino redevelopment with major expansion plans. |
| Jan 07 | Earnings call invite | Positive | +2.0% | Announced 2025 Q4 and full-year results release and conference call details. |
| Oct 22 | Victory Run project | Positive | -0.4% | Announced $280–300M Victory Run premium seating investment at racetrack. |
Positive growth and development announcements have produced mixed reactions, with several capex/opening updates seeing negative or muted next-day moves while event-related or schedule news has more often aligned with modest gains.
Over the last few months, Churchill Downs has focused on growth projects and marquee racing events. Announcements covered Kentucky Derby Week plans with 44 racing days, the Marshall Yards opening timeline, and a large Salem, NH redevelopment with a planned $180–200 million investment. Additional capital allocation was detailed for the Victory Run project at Churchill Downs Racetrack, budgeted at $280–300 million. Price reactions have been mixed, suggesting that while the market recognizes strategic expansion, it has not consistently rewarded capex-heavy news in the short term.
Market Pulse Summary
This announcement adds another historical horse racing venue to Churchill Downs’ Kentucky footprint, highlighting a $40–45 million investment in Marshall Yards with 225 historical racing machines and a 23,000-square-foot facility. It complements earlier development plans in New Hampshire and at the flagship racetrack, underscoring a multi-year growth pipeline. Investors may focus on how new HRM properties support racing purses, regional tourism, and overall gaming revenue, as well as what forthcoming financial results indicate about returns on these projects.
Key Terms
historical racing machines technical
retail sportsbook technical
simulcast wagering technical
AI-generated analysis. Not financial advice.
LOUISVILLE, Ky., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced the grand opening of Marshall Yards Racing & Gaming (“Marshall Yards”) to the public on February 25, 2026, the Company’s eighth premier historical horse racing entertainment venue in Kentucky. The 23,000 square foot venue in Calvert City, Kentucky features 225 state-of-the-art historical racing machines (“HRM”), a retail sportsbook, simulcast wagering, and various food and beverage offerings. The new HRM entertainment venue will support purse funding for Oak Grove Racing, Gaming & Hotel’s (“Oak Grove”) racing meet in Oak Grove, Kentucky.
“We are setting a new pace for growth as we expand CDI's footprint in Southwestern Kentucky,” said Bill Carstanjen, CEO of CDI. “Marshall Yards reflects our vision to build destination experiences that generate local economic opportunities, inspire regional tourism, and secure our place at the forefront of racing and entertainment.”
About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) has been creating extraordinary entertainment experiences for over 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the acquisition, development, and operation of live and historical racing entertainment venues, the growth of online wagering businesses, and the acquisition, development, and operation of regional casino gaming properties. www.churchilldownsincorporated.com
This news release contains various "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "seek," "should," "will," "scheduled," and similar words or similar expressions (or negative versions of such words or expressions), although some forward-looking statements are expressed differently.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, that could cause actual results to differ materially from expectations include the following: the occurrence of extraordinary events, such as terrorist attacks, public health threats, civil unrest, and inclement weather, including as a result of climate change; the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit, including the impact of inflation; changes in, or new interpretations of, applicable tax laws or rulings that could result in additional tax liabilities; the impact of any pandemics, epidemics, or outbreaks of infectious diseases, and related economic matters on our results of operations, financial conditions and prospects; lack of confidence in the integrity of our core businesses or any deterioration in our reputation; negative shifts in public opinion regarding gambling that could result in increased regulation of, or new restrictions on, the gaming industry; loss of key or highly skilled personnel, as well as general disruptions in the general labor market; the impact of significant competition, and the expectation that competition levels will increase; changes in consumer preferences, attendance, wagering, and sponsorships; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine and historical racing machine ("HRM") manufacturing and other technology conditions that could impose additional costs; failure to enter into or maintain agreements with industry constituents, including horsemen and other racetracks; cybersecurity risk, including cyber-security breaches, or loss or misuse of our confidential information as a result of a breach including customers’ personal information, or IT system operational disruptions, could lead to government enforcement actions or other litigation; costs of compliance with increasingly complex laws and regulations regarding data privacy and protection of personal information; reliance on our technology services and catastrophic events, system failures, errors or defects disrupting our operations; inability to identify, complete, or fully realize the benefits of our proposed acquisitions, divestitures, development of new venues or the expansion of existing facilities on time, on budget, or as planned; difficulty in integrating recent or future acquisitions into our operations; cost overruns and other uncertainties associated with the development of new venues and the expansion of existing facilities; general risks related to real estate ownership and significant expenditures, including risks related to environmental liabilities; personal injury litigation related to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or other similar laws and regulations, or applicable anti-money laundering regulations; payment-related risks, such as risk associated with fraudulent credit card or debit card use; work stoppages and labor problems; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions in our debt facilities limiting our flexibility to operate our business; failure to comply with the financial ratios and other covenants in our debt facilities and other indebtedness; increases to interest rates, disruption in the credit markets or changes to our credit ratings may adversely affect our business; increase in our insurance costs, or inability to obtain similar insurance coverage in the future, and any inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; and other factors described under the heading "Risk Factors" in our most recent Annual Report on Form 10-K and in other filings we make with the Securities and Exchange Commission.
We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
| Investor Contact: Sam Ullrich | Media Contact: Jeanna Burkhead Cunningham |
| (502) 638-3906 | (502) 678-5785 |
| Sam.Ullrich@kyderby.com | Jeanna.Cunningham@kyderby.com |
Photos accompanying this announcement are available at
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FAQ
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