Welcome to our dedicated page for Church Downs news (Ticker: CHDN), a resource for investors and traders seeking the latest updates and insights on Church Downs stock.
Churchill Downs Incorporated (NASDAQ: CHDN) generates a steady flow of news tied to its gaming entertainment, online wagering, and racing operations. As the company behind the Kentucky Derby and a growing portfolio of live and historical racing venues, online wagering platforms, and regional casino gaming properties, its announcements span development projects, financial performance, partnerships, and event programming.
Investors following CHDN news can expect regular updates on segment results for Live and Historical Racing, Wagering Services and Solutions, and Gaming. Recent releases have detailed record quarterly net revenue and Adjusted EBITDA, performance at Kentucky and Virginia historical racing machine venues, and contributions from TwinSpires Horse Racing, Exacta, and regional gaming properties across several states.
CDI’s news flow also highlights strategic growth initiatives. Examples include the acquisition of a majority interest in Casino Salem in Salem, New Hampshire, and subsequent plans to redevelop the charitable gaming facility as Rockingham Grand Casino within The Mall at Rockingham Park. The company has also announced the Victory Run capital investment at Churchill Downs Racetrack, a new multi-story hospitality structure designed to enhance seating and premium experiences during major racing events.
Other notable news items cover capital management actions such as share repurchase programs and annual dividend decisions, as well as conference call invitations for quarterly and full-year financial results. CDI also issues joint announcements with partners, including agreements with Everi, an IGT brand, to deploy financial technology and compliance solutions across its venues, and media updates with NBC Sports regarding primetime coverage of the Kentucky Oaks and continued broadcast of the Kentucky Derby.
For market participants, the CHDN news page offers a centralized view of how Churchill Downs Incorporated’s racing, wagering, and gaming strategies evolve over time, with direct links to earnings releases, development milestones, partnership agreements, and other material events.
The 146th Longines Kentucky Oaks featured a historic win by Shedaresthedevil, clocking in at 1:48.28, the fastest Oaks race ever. Jockey Florent Geroux and trainer Brad Cox celebrated their second Oaks victory, with Shedaresthedevil claiming a $1.25 million prize. Despite the success of the race, wagering dropped significantly: total all-sources wagering was $30.8 million, down from $60.2 million in 2019, attributed to lower field sizes and lack of on-track bets. Churchill Downs Incorporated continues its commitment to cancer awareness, donating $50,000 to Norton Cancer Institute.
Churchill Downs Incorporated (CHDN) has opened a new 8,000 square foot outdoor gaming patio at Derby City Gaming in Louisville, Kentucky, adding 225 historical racing machines (HRMs), increasing the total to 1,225 HRMs. This expansion aims to enhance customer experience with more machines and outdoor space, as noted by Senior VP Austin Miller. The facility is currently operating under capacity restrictions due to COVID-19 safety protocols, which include social distancing and enhanced cleaning measures.
Churchill Downs Incorporated (CHDN) announced the reopening of Calder Casino in Miami Gardens, Florida, effective August 31, 2020. With this opening, all of CDI's gaming properties will be operational again. The casino will implement safety measures including enhanced cleaning protocols, temperature checks, and social distancing. CEO Bill Carstanjen expressed gratitude for the team's efforts to safely reopen. CDI operates various gaming facilities and platforms, including TwinSpires.com and BetAmerica, furthering its position in the gaming industry.
Churchill Downs Incorporated (CHDN) has announced multi-year partnerships with GAN Limited and Kambi Group PLC to enhance its BetAmerica sports betting and iGaming platform. The collaboration aims to improve player account management and sports trading capabilities, facilitating the rollout of BetAmerica's offerings as states legalize sports betting. CDI's CEO Bill Carstanjen highlighted the efficiency gained from these partnerships, which are expected to attract more players to BetAmerica, currently operational in New Jersey, Pennsylvania, Indiana, and Mississippi.
Churchill Downs Incorporated (CHDN) announced that the 146th Kentucky Derby, scheduled for September 5, 2020, will be held without fans due to the surge in COVID-19 cases in Louisville. The decision prioritizes the health and safety of the community and follows consultation with health authorities. Ticket holders will receive refunds, and only essential personnel will attend the event. Governor Andy Beshear supports the decision, citing the aggressive spread of the virus. The Kentucky Oaks will also run without spectators, and NBC will broadcast both events.
Churchill Downs Incorporated (CHDN) reported a significant drop in second-quarter results for 2020, with net revenues of $185.1 million, down 61% year-over-year. The company experienced a net loss of $118.8 million, a stark contrast to the net income of $107.1 million in the same quarter of 2019. Adjusted EBITDA also fell 86% to $30.1 million. Despite challenges, TwinSpires showed resilience with a 21.6% growth in handle. All gaming properties have reopened except Calder Casino. Future expectations hinge on the postponed 146th Kentucky Derby.
Churchill Downs Incorporated (CHDN) announced its launch of the BetAmerica sports betting and iGaming platform in Michigan through a partnership with the Hannahville Indian Community. This initiative includes a retail BetAmerica sportsbook at Island Resort & Casino and an online platform for bettors statewide, pending regulatory approval. Bill Mudd, COO, emphasized the innovative offerings available to Michigan sports fans. BetAmerica currently operates in New Jersey, Pennsylvania, Indiana, and Mississippi, aiming to enhance its market presence and customer engagement in Michigan.
Churchill Downs Incorporated (CHDN) has announced the reopening of the Oxford Casino Hotel in Oxford, Maine, effective July 9, 2020, at 9:00 a.m. Guests can enjoy slot machines, with table games and food offerings to be available later. The reopening will adhere to state capacity restrictions and feature enhanced safety protocols, including increased cleaning, social distancing measures, and mandatory health checks for guests and team members. CDI operates multiple gaming and wagering facilities and is known for its Kentucky Derby event.
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.