Aurora Investment Counsel Invests $2.27 Million in Churchill Downs, Incorporated $CHDN
Aurora Investment Counsel has invested $2.27 million in Churchill Downs, Incorporated (NASDAQ:CHDN) by purchasing 25,269 shares in the second quarter. This move is part of broader institutional interest, with other major firms like BlackRock Inc. and Norges Bank also acquiring significant stakes. Analysts currently rate Churchill Downs as a "Moderate Buy" with a consensus target price of $136.88, following recent positive earnings results.
Q2 Earnings Highs And Lows: Churchill Downs (NASDAQ:CHDN) Vs The Rest Of The Consumer Discretionary - Gaming Solutions Stocks
This article analyzes the Q2 earnings performance of Churchill Downs (NASDAQ:CHDN) and other companies in the consumer discretionary gaming solutions sector. It highlights that Churchill Downs met revenue expectations but had mixed results, while Rush Street Interactive (NYSE:RSI) showed strong revenue growth and beat estimates. Conversely, PlayStudios (NASDAQ:MYPS) and DraftKings (NASDAQ:DKNG) both reported disappointing results, missing analyst expectations.
Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Average Recommendation of "Moderate Buy" from Analysts
Churchill Downs, Incorporated (NASDAQ:CHDN) has received a "Moderate Buy" rating from analysts, with nine out of ten covering brokerages recommending a buy and one a sell. The average 12-month price target is $136.88, significantly higher than its opening price of $89.70. The company met its quarterly EPS expectations at $3.45 and exceeded revenue estimates with $980 million, a 4.9% year-over-year increase, while institutional ownership remains high at 82.59%.
Ocean Downs owner weighs casino, racetrack sale
Churchill Downs Inc., the owner of Ocean Downs casino and racetrack in Berlin, is considering selling the property as part of a review of its regional gaming assets. This potential sale is part of a corporate strategy to reinvest in its flagship Churchill Downs racetrack, the Kentucky Derby, and its online betting platform, TwinSpires. State approval would be required for any new owner, and regulators have confirmed that the casino and racetrack could legally be sold to different entities.
58,139 Shares in Churchill Downs, Incorporated $CHDN Purchased by Assenagon Asset Management S.A.
Assenagon Asset Management S.A. recently acquired 58,139 shares of Churchill Downs, Incorporated (NASDAQ:CHDN) valued at approximately $5.2 million, now owning about 0.08% of the company. Institutional investors hold 82.59% of CHDN, and analysts maintain a "Moderate Buy" rating with an average target price of $136.88. Churchill Downs met Q2 earnings expectations with $3.45 EPS and reported a 4.9% year-over-year revenue increase to $980 million.
Churchill Downs, Incorporated (CHDN) Stock Forecasts
Argus has raised its target price for Churchill Downs, Inc. (CHDN) to $84.00, though the current stock price is higher at $88.54. The company, which operates in gaming entertainment, online wagering, and racing, is segmented into Live and Historical Racing, Wagering Services, and Gaming. The report encourages an upgrade to premium services for detailed insights into CHDN and other related companies.
Bank of America Corp DE Decreases Stake in Churchill Downs, Incorporated $CHDN
Bank of America Corp DE reduced its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 10.5% in the first quarter, selling 73,375 shares and retaining 628,290 shares valued at $56.44 million. Despite this, other institutional investors either increased their holdings or initiated new positions in CHDN, and analysts have largely maintained "buy" or "outperform" ratings with an average target price of $136.88. Churchill Downs reported strong Q2 earnings, meeting analyst estimates with $3.45 EPS and exceeding revenue expectations with $980 million.
NYRA, Churchill Downs announce new championship series
The New York Racing Association and Churchill Downs have announced a new Thoroughbred Championship Series starting in 2027, comprising six races over five months. This new series, which includes two races at Saratoga, aims to address the challenges of the traditional Triple Crown schedule, where Kentucky Derby winners often skip the Preakness due to its close proximity. While the new series isn't intended to replace the Triple Crown, it reflects an evolution in horse training practices and the sport's structure.
Churchill Downs, Incorporated $CHDN Shares Bought by Sapient Capital LLC
Sapient Capital LLC significantly increased its stake in Churchill Downs (NASDAQ:CHDN) by 596.9% in the second quarter, now owning 418,966 shares valued at $37.6 million. Other institutional investors also adjusted their holdings. The company reported quarterly EPS of $3.45, meeting analyst expectations, with revenue slightly exceeding forecasts.
Pacer Advisors Inc. Trims Position in Churchill Downs, Incorporated $CHDN
Pacer Advisors Inc. significantly reduced its stake in Churchill Downs, selling 94.5% of its shares and retaining 18,533 shares worth $1.67 million. Despite this, institutional ownership remains high at 82.59%, and analysts maintain a "Moderate Buy" consensus with an average target price of $136.88. Churchill Downs met earnings expectations with $3.45 per share and surpassed revenue forecasts with $980 million, a 4.9% year-over-year increase.
Empowered Funds LLC Buys Shares of 19,026 Churchill Downs, Incorporated $CHDN
Empowered Funds LLC recently acquired 19,026 shares of Churchill Downs, Incorporated (NASDAQ:CHDN) valued at approximately $1.71 million. This purchase is part of a trend where institutional investors collectively own 82.59% of the company. Churchill Downs reported strong quarterly earnings, with revenue up 4.9% year over year, meeting analyst expectations, and analysts maintain a "Moderate Buy" rating with a target price significantly higher than the current trading price.
Turfway Park and Newport Racing & Gaming Support FIESTA NKY
Turfway Park Racing & Gaming and Newport Racing & Gaming have partnered with FIESTA NKY, contributing over $15,000 and participating in volunteer events to support Hispanic and immigrant families in Northern Kentucky. FIESTA NKY is a nonprofit dedicated to addressing the needs of this growing population by connecting them with critical resources. This partnership reflects the racing and gaming entities' commitment to making a positive community impact.
Churchill Downs, NYRA team up to start season horse racing title
Churchill Downs and the New York Racing Association (NYRA) are launching the Thoroughbred Championship Series (TCS) in 2027, a new six-race series designed to crown a season-long champion for three-year-old thoroughbreds. The series aims to create ongoing narratives and rivalries, engaging fans throughout the season beyond the Triple Crown races. It will feature races at Churchill Downs, Belmont Park, and Saratoga Race Course, culminating in a championship race and a $5 million prize pool.
Churchill Downs considers Ocean Downs sale after Maryland Preakness deal
Churchill Downs is reportedly considering selling Ocean Downs Casino and Racetrack following Maryland's decision to match Churchill Downs' offer for Preakness. This potential sale was disclosed after the Preakness deal. The Maryland Lottery and Gaming agency has not yet received information regarding this possible transaction.
Churchill Downs Explores Sale of Ocean Downs Casino Amid Broader Portfolio Review
Churchill Downs Inc. is considering selling its Ocean Downs Casino and Racetrack as part of a wider review of its gaming portfolio and capital allocation priorities, according to a recent SEC filing. The company owns nine properties across eight states and has not set a timeline for the sale,
Ocean Downs owner considers property sale
Churchill Downs Inc., owner of Ocean Downs casino and racetrack in Berlin, Maryland, is considering selling the property as part of a review of its regional gaming assets. This move aligns with a corporate strategy to reinvest in Churchill Downs racetrack, the Kentucky Derby, and its online betting platform, TwinSpires. While no timetable or guarantee for a sale has been established, any new owner would require state approval to operate the casino or conduct live racing.
Churchill Downs teams with NYRA to create horse racing championship
Churchill Downs and the New York Racing Association (NYRA) are launching the Thoroughbred Championship Series (TCS) in 2027, a new six-race championship for three-year-old Thoroughbreds. The series aims to create season-long storylines, rivalries, and a playoff atmosphere, culminating in a champion based on a points system across races at Churchill Downs, Belmont Park, and Saratoga Race Course. This initiative seeks to keep fans engaged beyond the Triple Crown and offer a significant $5 million prize pool, with all races broadcast on national television.
Future of Fair Grounds In New Orleans Assured By CDI
Churchill Downs Inc. (CDI) CEO Bill Carstanjen has confirmed the company will retain its Fair Grounds properties in Louisiana, despite exploring the sale of other casino and track properties. This commitment ensures the future of Fair Grounds, which is home to the Louisiana Derby and provides a crucial wintertime turf course, following earlier concerns about its operations due to revenue loss and potential historic designation. The decision prevents Louisiana from losing one of its key Thoroughbred breeding grounds and racing venues.
Churchill Downs and New York Racing Association unveil 6-race championship series
Churchill Downs and the New York Racing Association have announced a new six-race championship series for 3-year-olds, spanning five months and featuring a $5 million prize pool, starting next year. The series includes the Kentucky Derby, Belmont Stakes, Matt Winn Stakes, Jim Dandy, and Travers Stakes, culminating in a championship race at Churchill Downs in September. This initiative aims to elevate major events, create a season-long storyline, and attract new fans to thoroughbred racing.
Preakness, Pimlico left out of new race series by Churchill Downs, Belmont
Churchill Downs Inc. and the New York Racing Association Inc. announced a new six-race Thoroughbred Championship Series starting in 2027, excluding the Preakness Stakes and Pimlico. This announcement came just days after Maryland finalized an $85 million deal to acquire the Preakness
Churchill Downs and New York Racing Association unveil 6-race championship series
Churchill Downs Incorporated and the New York Racing Association have announced a new six-race championship series, including the Kentucky Derby and Belmont Stakes, with a $5 million prize pool, set to begin next year. The series aims to showcase top three-year-old thoroughbreds across a season-long championship, elevating major events and attracting new fans. NBC will broadcast races at Churchill Downs, while Fox will cover events in New York.
Churchill Downs Sells Nine Casinos To Refocus On Racing
Churchill Downs Inc. is divesting nine casino properties across seven states to sharpen its focus on horse racing and online wagering. This strategic shift, advised by Macquarie Capital, aims to reduce debt, fund reinvestment in its flagship racetrack, and enable share repurchases. The move reflects a broader industry trend toward specialization and digital channels, with Churchill Downs pushing forward with major capital projects like the Victory Run expansion at the Kentucky Derby site.
Churchill Downs and NYRA Announce New Thoroughbred Championship Series Beginning in 2027
Churchill Downs Incorporated and The New York Racing Association have announced the creation of the Thoroughbred Championship Series, a new six-race competition beginning in 2027. This series will establish an annual season-long championship for America's leading three-year-old Thoroughbreds, uniting iconic venues like Churchill Downs, Belmont Park, and Saratoga Race Course. It will feature a unified points system, a $5 million championship prize pool, and national television coverage to extend fan engagement beyond the Triple Crown.
CDI, NYRA unveil new series that includes Kentucky Derby, Belmont
Churchill Downs Inc. (CDI) and the New York Racing Association (NYRA) have announced a new six-race Thoroughbred Championship Series set to begin in 2027. This series will include the Kentucky Derby and Belmont Stakes, offering $5 million in bonus money. Notably, the Preakness Stakes is not part of this new series, which aims to encourage top 3-year-olds to compete more frequently.
Churchill Downs and New York Racing Association unveil 6-race championship series
Churchill Downs Incorporated and the New York Racing Association have announced a new six-race championship series that includes the Kentucky Derby and Belmont Stakes, offering a $5 million prize pool. The series, set to begin next year, will span five months and feature races at Churchill Downs and Saratoga Race Course, culminating in a championship race before the Breeders' Cup. This initiative aims to elevate major events and engage new fans by creating a season-long storyline for thoroughbred racing.
Preakness Stakes has been left out of new Thoroughbred Championship Series
The Preakness Stakes has been excluded from a newly announced six-race Thoroughbred Championship Series created by Churchill Downs Incorporated and the New York Racing Association (NYRA). This series, which includes the Kentucky Derby and Belmont Stakes with a $5 million prize pool, aims to establish an annual championship for leading 3-year-old thoroughbreds, raising questions about the future of the Preakness. The exclusion comes amidst speculation that the Preakness might shift its date to attract more horses, as several Derby winners have recently skipped the race.
Churchill Downs, NYRA announce new six-race series for three-year-old thoroughbreds
Churchill Downs and the New York Racing Association (NYRA) have collaborated to introduce a new six-race series for three-year-old thoroughbreds. This series aims to provide a structured path for horses transitioning from their two-year-old season to more prominent races, potentially culminating in major events like the Kentucky Derby or Belmont Stakes. The initiative seeks to enhance the racing calendar and offer increased competitive opportunities for young thoroughbreds.
Churchill Downs and New York Racing Association unveil 6-race championship series
Churchill Downs and the New York Racing Association have announced a new six-race championship series for 3-year-old thoroughbreds, featuring the Kentucky Derby and Belmont Stakes, with a $5 million prize pool. The Preakness Stakes is notably absent from the series. This initiative aims to create a season-long narrative for the sport's best horses and engage new fans, with races broadcast on NBC and Fox.
Churchill, NYRA team for new 3-year-old series
Churchill Downs Inc. and the New York Racing Association have announced a new six-race Thoroughbred Championship Series for 3-year-olds, beginning with the Kentucky Derby and concluding with a new race at the Churchill September meeting. This series aims to create a season-long storyline, encouraging top 3-year-olds to compete more frequently, and includes a $5 million prize pool. The announcement also notes the Preakness Stakes is expected to move to three weeks after the Derby, altering the traditional Triple Crown structure.
Churchill Downs rides big Kentucky Derby week to record net revenue in Q2
Churchill Downs Inc. reported a record net revenue of $980M for its Q2, a 5% increase from the previous year, largely driven by a record-breaking Kentucky Derby week. This performance included record all-source wagering, increased peak and average Derby viewership, and a $21M revenue increase for the racetrack. The company also announced plans to add amenities and temporary seating to the Churchill Downs racetrack infield for future events.
28,921 Shares in Churchill Downs, Incorporated $CHDN Acquired by Edgestream Partners L.P.
Edgestream Partners L.P. has acquired a new stake of 28,921 shares in Churchill Downs, Incorporated (NASDAQ:CHDN), valued at approximately $2.598 million. This comes as several other institutional investors have adjusted their holdings in the company. Analyst ratings for CHDN are mixed, with an average "Moderate Buy" and price target of $136.62, while the company recently reported Q2 earnings matching consensus estimates and revenue growth.
Horse Racing’s Biggest Events Unite in Landmark New “Thoroughbred Championship Series”
Churchill Downs Incorporated (CDI) and The New York Racing Association (NYRA) have announced the creation of the "Thoroughbred Championship Series," a new six-race competition beginning in 2027. This series aims to establish an annual season-long championship for America’s leading three-year-old Thoroughbreds, running across Churchill Downs, Belmont Park, and Saratoga Race Course. It will feature a unified points system and a $5 million prize pool to incentivize participation, with races broadcast nationally on NBC and FOX.
Churchill Downs May Sell Terre Haute Casino
Churchill Downs Inc. is exploring the potential sale of several regional casino properties across the United States, including the Terre Haute Casino Resort. This move follows a comprehensive review of its operational portfolio and long-term capital allocation priorities. The company has filed this plan with the U.S. Securities and Exchange Commission but cautions there's no guarantee any transactions will occur.
Churchill May Sell Several Casino Properties, Including Presque Isle Downs
Churchill Downs Inc. (CDI) announced plans to sell nine casinos, including Presque Isle Downs, to refocus on its horse racing operations in Kentucky, Louisiana, and Virginia, and its TwinSpires ADW. This news caused CDI's stock to fall nearly 7 percent. The company aims to use the proceeds to reduce debt, reinvest in high-return projects, and repurchase shares.
Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing
Churchill Downs Inc. announced plans to sell nine of its casinos across several states, including Florida, Indiana, and Iowa. This strategic move aims to redirect focus and resources toward its core horse racing operations in Kentucky, Louisiana, and Virginia, as well as its online betting platform, TwinSpires. The company intends to use the proceeds from these sales to reduce debt, selectively reinvest in its Churchill Downs Racetrack, and fund stock repurchases.
CDI Plans to Sell Nine Casinos, Including Presque Isle
Churchill Downs Inc. (CDI) announced plans to sell nine of its wholly-owned casinos, including Presque Isle Downs, to refocus on its horse racing and pari-mutuel properties like the Kentucky Derby, historical horse racing (HHR), and TwinSpires.com. The company will retain Fair Grounds Race Course & Slots due to its importance to the racing industry and the Kentucky Derby. CDI aims to use the sale proceeds to reduce leverage, reinvest in high-return projects, and repurchase shares, while concentrating on assets with strong cash flow and durable competitive advantages.
Why Churchill Downs Incorporated (CHDN) Stock Is Down Today
Churchill Downs Incorporated (CHDN) stock dropped 9.0% today, likely due to a negative market reaction to its second-quarter 2026 results and conference-call commentary. Investors had high expectations following strong Derby-related momentum, and any disappointment regarding earnings, margin outlook, or guidance could have triggered the sell-off. The company reported results after the market closed on July 29 and held its conference call on July 30, coinciding with the stock's decline.
CDI exec: Company is 'pleased' with plan to sell casinos
Churchill Downs Inc. CEO Bill Carstanjen expressed satisfaction with the company's plan to explore selling Presque Isle Downs and Casino and eight other regional gaming properties. Despite missing earnings per share estimates, Carstanjen highlighted that these are strong assets and the current market environment is favorable for their sale. He also noted the Kentucky Derby's consistent growth across all metrics and the company's focus on investing in the "top end" of horse racing.
Presque Isle Downs & Casino among those to be sold by Churchill Downs
Churchill Downs Inc. plans to sell Presque Isle Downs & Casino and eight other gaming properties to focus on its flagship Churchill Downs Racetrack and the Kentucky Derby. The decision follows a review of its operational portfolio, with proceeds intended for debt reduction, reinvestment in core properties, and stock repurchases. Presque Isle Downs & Casino has seen a decline in slot and table game revenues but an increase in sports wagering and iGames revenue.
Churchill Downs Incorporated Announces Update on Capital Projects at Churchill Downs Racetrack for 2027 and 2028
Churchill Downs Incorporated (CDI) has announced updates on three major capital projects at Churchill Downs Racetrack, slated for completion in 2027 and 2028. These projects include the new Victory Run premium hospitality area, an expansion of the Homestretch Club, and significant upgrades to the Infield Seating and amenities. The goal of these investments is to enhance the guest experience and support long-term growth, with the Victory Run project expected to be ready for the 154th Kentucky Derby in 2028 and the others for the 153rd Kentucky Derby in 2027.
Terre Haute Casino Resort could be sold by Churchill Downs Inc.
Churchill Downs Inc. is exploring the sale of nine regional gaming properties, including the Terre Haute Casino Resort, as part of a strategy to reinvest in its horse racing businesses. The Terre Haute Casino Resort, which opened in April 2024 and was a $290 million project, provides significant revenue to the state and local governments. Local officials and the Terre Haute Casino Foundation confirm that the casino's financial commitments, including a nearly $100 million pledge for a new high school, will remain binding regardless of a sale.
Churchill puts Presque Isle Downs, other casinos up for sale
Churchill Downs Inc. (CDI) is exploring the sale of Presque Isle Downs and Casino along with eight other regional gaming properties across different states. This move follows a comprehensive review of the company's operational portfolio and long-term capital allocation priorities, signaling a potential strategic shift away from regional gaming assets. Any sale would transfer racing obligations to prospective buyers and would allow CDI to sharpen its focus on its flagship track, TwinSpires, and historical horse racing venues, as other racing properties are not included in the potential divestiture.
Churchill Downs to Buy NYRA's 49% Share in United Tote
Churchill Downs Incorporated (CDI) announced its plan to reacquire 100% ownership of United Tote Company by purchasing the remaining 49% share from NYRA Content Management Solutions, LLC, a subsidiary of the New York Racing Association (NYRA). CDI had initially sold this share to NYRA in April 2024. The agreement ensures NYRA will continue to use United Tote's pari-mutuel wagering systems through 2035, and the transaction is expected to close by August 5, 2026.
Churchill Downs updates on projects set for Derby 2027, '28
Churchill Downs Inc. has provided an update on three capital projects at its Louisville track, scheduled for completion in 2027 and 2028. These projects include "Victory Run" on the first turn, an expansion of the Homestretch Club, and upgrades to its infield seating, all aimed at enhancing the guest experience for upcoming Kentucky Derby events. These investments are set to introduce new premium hospitality offerings and improve infrastructure.
Churchill Downs reacquires 49% stake in United Tote from NYRA
Churchill Downs Incorporated announced it has reacquired a 49% stake in United Tote Company from NYRA Content Management Solutions, LLC. This reacquisition comes after Churchill Downs sold the same stake to NYRA in April 2024. As part of the deal, the New York Racing Association has extended its tote services agreement with United Tote through 2035.
Churchill Downs Inc. posts record earnings for 2nd quarter
Churchill Downs Inc. reported record-breaking financial results for its second quarter, ending June 30. The company saw a 5% increase in net revenue, reaching $980 million, and a 6% rise in adjusted earnings to $477 million. These gains were largely driven by a successful Derby Week at Churchill Downs Racetrack and increased revenue from historical horse-racing machines.
Churchill Downs Incorporated Announces Update on Capital Projects at Churchill Downs Racetrack for 2027 and 2028
Churchill Downs Incorporated announced updates on three capital projects at Churchill Downs Racetrack: Victory Run, Homestretch Club Expansion, and Infield Seating Upgrade. These projects, slated for completion in 2027 and 2028, aim to enhance premium hospitality, guest experiences, and overall amenities at the venue, including new seating options and improved infrastructure. The company emphasizes its commitment to long-term growth and elevating the guest experience at its flagship asset.
Churchill Downs Incorporated Announces Definitive Agreement to Acquire 49% of United Tote Company from NYRA
Churchill Downs Incorporated (CDI) announced a definitive agreement to reacquire a 49% interest in United Tote Company from NYRA Content Management Solutions, LLC. CDI had previously sold this stake to NYRA in April 2024. Concurrent with this transaction, NYRA extended its tote services agreement with United Tote through 2035, reinforcing CDI's strategy to vertically integrate key pari-mutuel wagering technologies and strengthen its position in horse racing services.
Churchill Downs Deal Would Restore Full United Tote Ownership
Churchill Downs (Nasdaq: CHDN) has signed a definitive agreement to reacquire the remaining 49% stake in United Tote Company from NYRA Content Management Solutions, a subsidiary of the New York Racing Association (NYRA). This transaction will restore 100% ownership of United Tote to Churchill Downs and extends NYRA's tote services agreement with United Tote through 2035. The acquisition aligns with Churchill Downs' strategy to vertically integrate horse racing and pari-mutuel wagering technologies, with closing expected by August 5, 2026.
Churchill Downs: Q2 Earnings Snapshot
This article provides a Q2 earnings snapshot for Churchill Downs. Due to the brevity of the provided content, specific financial details are not available.
