Church Downs Stock Price, News & Analysis

Churchill Downs Incorporated (CHDN) announced the temporary suspension of operations at Calder Casino in Florida due to a Miami-Dade Emergency Order related to COVID-19. The closure, effective July 3, 2020, aims to control the rising COVID-19 cases. CDI plans to collaborate with local officials to reopen Calder when appropriate. CDI is known for its iconic Kentucky Derby and operates various gaming platforms, including TwinSpires.com and BetAmerica, alongside brick-and-mortar casinos across multiple states.

Churchill Downs Incorporated (CHDN) announced the reopening of Rivers Des Plaines in Illinois on July 1, 2020, following enhanced health and safety protocols. A dedicated 'Rivers Clean Team' is responsible for implementing new measures, including protective plexiglass, sanitization stations, and social distancing markers. Key initiatives include extensive training for team members, use of EPA-approved disinfectants, and modifications for social distancing on the gaming floor. The BetRivers Sportsbook has also reopened with limited seating, further enhancing customer service during the pandemic.

Churchill Downs Incorporated (CHDN) announced the reopening of Presque Isle Downs & Casino in Erie, Pennsylvania, at 12 p.m. on June 26, 2020. Live racing will resume without spectators on July 27 through October 22, held from Mondays to Thursdays at 4:45 p.m. The reopening will adhere to strict capacity restrictions and safety protocols, including enhanced cleaning and mandatory temperature checks. CDI will share updates regarding the reopening of additional locations as dates are confirmed.

Churchill Downs Incorporated (CHDN) announced an agreement with the Illinois Thoroughbred Horsemen’s Association for the 2020 and 2021 live race meets at Arlington International Racecourse. The Illinois Racing Board approved Arlington's 2020 Summer Meet, allowing spectator-free live racing from July 23 to September 26, 2020. Arlington’s backstretch opens on or before July 6 for owners and trainers, with racing on Thursdays, Fridays, and Saturdays.

Arlington's off-track betting locations are operational, enhancing wagering opportunities.

Churchill Downs Incorporated (CHDN) announced the launch of BetRivers.com, Illinois' first online sportsbook, on June 18, 2020. This joint venture with Rush Street Gaming and Rush Street Interactive allows players to register and place bets online, overriding the previous in-person registration requirement due to a temporary Executive Order from Governor Pritzker. The platform will live stream hundreds of sporting events, enhancing user experience. CDI continues to be a leader in gaming, operating multiple platforms and facilities across several states.

Churchill Downs Incorporated (CHDN) plans to reopen five casinos in Florida, Pennsylvania, Louisiana, Maryland, and Ohio from June 12 to June 19, 2020, expanding its operational capacity during the COVID-19 pandemic. This follows previous reopenings in Mississippi and at Derby City Gaming in Kentucky. All properties will adhere to strict safety measures, including capacity limits and enhanced cleaning protocols. CDI now expects to have seven of its ten gaming venues operational post-reopenings, reflecting a step toward normalcy in operations.

Churchill Downs Incorporated (CHDN) has signed an agreement to purchase 1,250 historical racing machines (HRMs) from International Game Technology PLC (IGT). These HRMs will operate on Ainsworth Game Technology’s proprietary system and feature popular game themes on high-performing hardware. Approved by the Kentucky Horse Racing Commission, the HRMs will be utilized at CDI's gaming facilities across Kentucky, including Derby City Gaming and upcoming locations. The move aims to enhance player experience and diversify gaming offerings.

Churchill Downs Incorporated (CHDN) announced plans to reopen its Derby City Gaming facility in Louisville, Kentucky on June 8, 2020, at 8 p.m. ET. The reopening follows approval from the state’s Governor and aims to enhance local economic contributions. The company will implement a comprehensive COVID-19 safety protocol, including mandatory temperature checks and increased cleaning measures. CDI operates multiple gaming venues and is a leader in online horse racing wagering through TwinSpires.

Churchill Downs Incorporated (CHDN) and Aristocrat Leisure Limited announced a proposed settlement for the Kater and Thimmegowda lawsuits, contingent on U.S. District Court approval. The settlement involves a total payment of $155 million, with CHDN contributing $124 million and Aristocrat $31 million. This agreement includes a release of claims against CHDN related to the lawsuits. This follows CDI's sale of Big Fish Games to Aristocrat in January 2018. The company continues to lead in the racing and gaming industry, particularly with the Kentucky Derby and its online wagering platforms.