Churchill Says HISA’s Actions Represent ‘Troubling Pattern Of Overreach’
Churchill Downs, Inc. (CDI) has responded to a formal complaint from the Horseracing Integrity and Safety Authority (HISA) which accused CDI of failing to pay $5 million in required 2025 fees. CDI argues that HISA's actions represent a "troubling pattern of overreach" and mischaracterization of their commitment to safety, adding that they received HISA's letter minutes before an article about the complaint was published. HISA, however, claims CDI has been "freeloading" on their services, leading to a hearing scheduled for March 11.
Complaint against Churchill Downs may impact derby simulcast, remote betting
A complaint filed by the Horseracing Integrity and Safety Authority (HISA) against Churchill Downs Inc. could restrict Kentucky Derby betting to only Kentucky racetracks due to an unpaid $2.4 million assessment. Churchill Downs is disputing these "illegal fees" stemming from a new HISA funding methodology. If the issue is not resolved, HISA warns it could prevent Churchill Downs from simulcasting the Derby, impacting out-of-state betting and race purses.
HISA complaint alleges Churchill Downs owes millions in unpaid fees
The Horseracing Integrity and Safety Authority (HISA) has filed a complaint alleging that Churchill Downs Inc. (CDI) owes millions in unpaid assessment fees for 2025, covering safety inspections and drug testing. If the debt is not resolved, Churchill Downs could be barred from simulcasting races, including the Kentucky Derby, limiting betting to in-person only. Churchill Downs denies HISA's claims of not supporting safety and criticizes HISA's "overreach," while HISA counters that CDI's refusal unfairly burdens smaller tracks.
Can I bet at Kentucky Derby 2026 outside of Churchill Downs?
A dispute between Churchill Downs Inc. and the Horseracing Integrity and Safety Authority (HISA) could prevent betting on the 2026 Kentucky Derby outside of Kentucky racetracks. HISA claims Churchill Downs Inc. has failed to pay $2.4 million in legally required fees. If the fees remain unpaid, the Federal Trade Commission might pull the Derby's simulcast signal, restricting betting to within Kentucky racetracks only.
Marshall Yards Racing & Gaming to hold Feb. 25 ribbon cutting
Marshall Yards Racing & Gaming, a new entertainment venue owned by Churchill Downs Inc., will officially open its doors with a ribbon-cutting ceremony on February 25th in Calvert City. The event will include live entertainment, giveaways, and a donation to Marshall County Caring Needline. The 23,000-square-foot facility will feature 150 historical racing machines, a sports bar, a sportsbook, and a simulcast center.
Complaint targets Churchill Downs over unpaid fees, putting Derby betting at risk
Churchill Downs is facing a complaint from the Horseracing Integrity and Safety Authority (HISA) for allegedly failing to pay over $2.4 million in assessment fees for 2025. This dispute could potentially lead to the Federal Trade Commission blocking simulcasting, which would impact betting on races including the Kentucky Derby. A three-person board panel is scheduled to meet on March 11 to rule on the complaint, while a separate lawsuit filed by Churchill Downs in 2024 regarding fee calculation is currently paused.
Churchill Downs' dispute with HISA could impact Kentucky Derby betting
A dispute between Churchill Downs Inc. and the Horseracing Integrity and Safety Authority (HISA) over the calculation and payment of $2.4 million in fees for 2025 could severely impact Kentucky Derby betting. HISA has issued a notice of violation to Churchill Downs for failure to remit fees, prompting concerns that HISA might pull the simulcast for the Derby, limiting betting to physical Kentucky racetracks and affecting out-of-state betting on all CDI-owned tracks. Churchill Downs, however, claims HISA's fee methodology is "invalid" and accuses the authority of overreach, while HISA maintains the fees are essential for its operations and the integrity of horseracing.
HISA sets hearing for claims of unpaid Churchill Downs fees
The Horseracing Safety and Integrity Authority (HISA) has scheduled a March 11 hearing regarding claims that Churchill Downs Inc. (CDI) has not paid $6.3 million in HISA assessments for four of its racetracks for 2025. HISA is currently seeking a lower amount of $2.4 million plus interest, based on an amended rule where fees are calculated solely on the number of starts. CDI has stated its commitment to safety and integrity but views HISA's actions as overreach and inaccurate public characterization, particularly as they were notified shortly before a newspaper article on the matter was published.
HISA files complaint against Churchill Downs Inc. tracks seeking $5 million total
The Horse Racing Integrity and Safety Authority (HISA) has filed a complaint against Churchill Downs Inc. tracks. The complaint seeks a total of $5 million.
HISA Accuses Churchill Downs of ‘Freeloading,’ Reports Zero 2025 Payments
The Horseracing Integrity and Safety Authority (HISA) has filed a formal complaint against Churchill Downs, Inc. (CDI), accusing the company of failing to pay $5 million in required 2025 fees. HISA has threatened to block out-of-state betting on CDI-owned tracks if the payment is not made, citing that CDI was the only racetrack company under its regulation that paid nothing in 2025. A hearing is scheduled for March 11 to address this dispute, which follows past legal challenges by CDI regarding fee calculation and a prior enforcement action for unpaid 2023 and 2024 fees.
HISA Claims CDI Owes Millions in Unpaid Assessments
The Horseracing Integrity and Safety Authority (HISA) has scheduled a March 11 board panel hearing to address Churchill Downs Inc.'s (CDI) alleged refusal to pay millions in required assessments for four of its tracks. This dispute, stemming from a pending legal case, involves unpaid fees from Churchill Downs, Ellis Park, Presque Isle Downs, and Turfway Park. HISA is seeking payment based on a "starts-only" calculation and has requested the board panel to mandate payment within 10 days, threatening to prohibit racing at CDI tracks if payments are not received.
HISA files complaint seeking $2.4 million from Churchill Downs Inc.
The Horseracing Integrity and Safety Authority (HISA) has filed a complaint seeking $2.4 million from Churchill Downs Inc. This action indicates a financial dispute between the regulatory body and the prominent racetrack operator. The exact nature of the complaint is not detailed in this short article.
Analysts Estimate Churchill Downs (CHDN) to Report a Decline in Earnings: What to Look Out for
Analysts expect Churchill Downs (CHDN) to report a year-over-year decline in earnings despite higher revenues for the quarter ending December 2025. The company's upcoming earnings report on February 25 could impact its stock price based on how actual results compare to conservative estimates. The Zacks Earnings ESP indicates a potential bearish outlook from analysts, making it difficult to conclusively predict an earnings beat.
Rhumbline Advisers Sells 13,966 Shares of Churchill Downs, Incorporated $CHDN
Rhumbline Advisers reduced its stake in Churchill Downs (NASDAQ:CHDN) by 7.1% during the third quarter, selling 13,966 shares and now holding 184,099 shares valued at $17.86 million. Despite this reduction, analysts maintain a "Moderate Buy" consensus rating with an average price target of $135.10. Churchill Downs, known for the Kentucky Derby, holds a market capitalization of $6.13 billion and a P/E ratio of 15.99.
TwinSpires Returns to Texas Amid Legal Dispute
TwinSpires has re-entered the Texas market, again offering online horse racing wagering after a federal appeals court ruling in Michigan effectively loosened restrictions on interstate wagering. However, the Texas Racing Commission swiftly issued a cease-and-desist order to TwinSpires, demanding it halt operations and signaling a continuing legal battle over advance deposit wagering in the state. This move by TwinSpires, a Churchill Downs Inc.-owned platform, is seen as a test case for the broader application of the Interstate Horseracing Act.
Churchill Downs To Close Salem Casino for $200M Renovation
Churchill Downs Inc. plans to close its Casino Salem at the Mall at Rockingham Park in Salem, New Hampshire, on March 9 for an extensive rebranding and renovation. The $180 million to $200 million project will transform the property into the Rockingham Grand Casino, with an anticipated opening in mid-July of next year. The decision to close the casino during construction was made to avoid significant delays in the project timeline.
Colonial Downs Launches New Brand Ahead Of Virginia Derby
Colonial Downs Racetrack has launched a new brand identity, logo, and digital presence ahead of its biggest racing year in history. The new branding emphasizes Virginia's rich Thoroughbred racing history while incorporating modern elements, symbolizing growth and excitement for the equine industry. This initiative follows the acquisition of Colonial Downs by Churchill Downs Incorporated in late 2022, which has led to significant investments to enhance the racing venue and guest experience.
Texas Racing Commission Orders TwinSpires to Cease Operations in State
The Texas Racing Commission has ordered TwinSpires to immediately cease all online horse and greyhound wagering operations within the state. This directive comes less than a week after TwinSpires quietly re-entered the Texas market, a decade after its initial exit in 2013 due to state prohibition on internet wagering. The commission warned of severe penalties for non-compliance, including fines, license revocation, and potential criminal liability.
Principal Financial Group Inc. Sells 16,485 Shares of Churchill Downs, Incorporated $CHDN
Principal Financial Group Inc. reduced its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 10.1% in the third quarter, selling 16,485 shares and retaining 147,516 shares valued at approximately $14.31 million. Other institutional investors also adjusted their positions in the company, which has a market cap of $6.73 billion and a consensus "Moderate Buy" rating from analysts with a target price of $135.36. Churchill Downs, known for the Kentucky Derby, holds 82.59% institutional ownership and trades within a 1-year range of $85.58 to $125.87.
Salem Casino to close during transformation into Rockingham Grand
Casino Salem at the Mall at Rockingham Park will close on March 9 as Churchill Downs undertakes a $180 million to $200 million transformation of the property into the Rockingham Grand Casino. The closure is to facilitate construction, which would be significantly lengthened if the smaller casino remained open. The new Rockingham Grand is expected to open next year, offering a much larger venue with more amenities and employment opportunities.
Churchill Downs Incorporated Announces Exciting Changes for the 152nd Spring Meet and Derby Week 2026
Churchill Downs Incorporated (CDI) has announced significant changes for its 152nd Spring Meet and Kentucky Derby Week in 2026, including the return of Sunday racing during Derby Week for the first time in 16 years. The Spring Meet will run for nine weeks from April 25 to June 28, 2026, while Derby Week kicks off on April 25 and culminates with the Kentucky Derby on May 2, featuring a $5 million purse. The Kentucky Oaks will also be broadcast in primetime on NBC and Peacock for the first time, with a $1.5 million purse.
Churchill Downs to close New Hampshire casino for renovation, rebranding
Churchill Downs will close its Casino Salem at the Mall at Rockingham Park on March 9 for renovations. The property will be transformed into the Rockingham Grand Casino, a project estimated to cost between $180 million and $200 million, with a planned opening next year. The decision to temporarily close the casino was made to avoid significantly lengthening the construction timeline.
Commission orders TwinSpires to end Texas operations
The Texas racing commission has ordered TwinSpires, owned by Churchill Downs Inc., to cease and desist its operations in Texas, just three days after it began accepting customers from the state. The commission cited potential administrative penalties, license suspension or revocation, and criminal liability for non-compliance. This action follows a recent federal court win for TwinSpires in Michigan regarding the Interstate Horseracing Act.
TwinSpires Boosts Kentucky Derby Betting Challenge Prize Pool To $300,000; Adds New $25,000 Kentucky Oaks Betting Challenge
TwinSpires has significantly increased the prize pool for its Kentucky Derby Betting Challenge (KDBC) to $300,000 and introduced a new $25,000 Kentucky Oaks Betting Challenge (KOBC). Qualifying tournaments for both events will begin this weekend, with the KDBC maintaining its $5,000 buy-in and the KOBC offering a seeded cash prize pool and KDBC seats. These challenges offer horseplayers expanded opportunities and significant prizes on the Road to the Kentucky Derby and Kentucky Oaks.
TwinSpires Boosts Kentucky Derby Betting Challenge Prize Pool & Adds Kentucky Oaks Betting Challenge
TwinSpires is expanding its horse racing betting challenges for the Kentucky Derby and Kentucky Oaks. The prize pool for the Kentucky Derby Betting Challenge (KDBC) has been increased to $300,000, and a new $25,000 Kentucky Oaks Betting Challenge (KOBC) will debut. Both challenges offer opportunities for horseplayers to qualify for major racing events.
Churchill Downs Awards Contract for New $280M–$300M Seating Structure
Churchill Downs has selected Calhoun Construction Services to build the new $280M–$300M Victory Run seating structure. This project will replace 6,400 existing seats with a 7,800-seat structure including private suites and dining areas, aiming for completion by the 2028 Kentucky Derby. Construction faces challenges due to a tight 24-month schedule, limited space, and the necessity to operate around racing events, requiring night shifts and careful logistical coordination.
PETA calls for jockey ban from Kentucky Derby over whipping violations
PETA is demanding that Churchill Downs ban jockey Paco Lopez from the Kentucky Derby due to numerous whipping rule violations documented at Fair Grounds Race Course. Lopez has continued to violate regulations despite a previous suspension, prompting PETA to ask for his exclusion from Churchill Downs and the disqualification of any Derby qualifying points his horses have earned. The organization also filed a complaint with the Louisiana Racing Commission and criticized the different enforcement standards between HISA-regulated tracks and non-HISA tracks like Fair Grounds.
TwinSpires begins accepting customers in Texas
TwinSpires.com, owned by Churchill Downs Inc., has resumed accepting wagers on horse racing from Texas residents after ceasing operations there in 2013 due to a federal judge dismissing a lawsuit against the state's internet gaming ban. The change appears to stem from Churchill Downs' recent victory in Michigan, suggesting they believe states cannot prohibit actions allowed by the Interstate Horseracing Act. This development was first noticed through social media and confirmed by Horse Racing Nation.
WCM Investment Management LLC Has $16.13 Million Stake in Churchill Downs, Incorporated $CHDN
WCM Investment Management LLC significantly reduced its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 17.8% in the third quarter, now holding 164,148 shares valued at approximately $16.13 million. Despite this reduction, institutional investors collectively own 82.59% of the company's stock, and analysts maintain a largely positive outlook with a "Moderate Buy" rating and an average target price of $135.36. Churchill Downs, known for the Kentucky Derby, currently has a market capitalization of $6.57 billion and a P/E ratio of 17.12.
Churchill Downs Incorporated (CHDN): A Bull Case Theory
This article summarizes a bull thesis on Churchill Downs Incorporated (CHDN) from Valueinvestorsclub.com. The thesis highlights the undervaluation of CHDN's assets, particularly the Kentucky Derby, due to temporary headwinds in 2025. It points to a diversified portfolio, share repurchases, and upcoming catalysts for significant upside, projecting share prices between $125 and $153 and potential to more than double.
Do Options Traders Know Something About Churchill Downs Stock We Don't?
Options traders are showing heightened interest in Churchill Downs (CHDN) stock, particularly a March 20, 2026, $55.00 Call option, suggesting expectations of a significant price movement. Despite the high implied volatility, analysts currently rate Churchill Downs as a Zacks Rank #3 (Hold). The article hints that this could indicate a potential trading opportunity for those who understand options strategies.
Q3 Earnings Highlights: Churchill Downs (NASDAQ:CHDN) Vs The Rest Of The Gaming Solutions Stocks
This article analyzes the Q3 earnings of Churchill Downs (NASDAQ:CHDN) and compares its performance to other gaming solution stocks. While Churchill Downs exceeded revenue and EPS estimates, it missed adjusted operating income targets. The report highlights Rush Street Interactive as having the best Q3 among its peers, and PlayStudios as having the weakest.
Do Options Traders Know Something About Churchill Downs Stock We Don't?
Options traders are showing increased interest in Churchill Downs (CHDN), with a specific call option displaying high implied volatility, suggesting expectations of a significant price movement. Despite this, analysts currently rate CHDN as a "Hold" with slightly increased earnings estimates, indicating a potential disconnect or an impending trade opportunity for those skilled in options strategies. The high implied volatility could also be a signal for options traders to sell premium, betting on the stock not moving as much as the market expects.
Town & Country Bank & Trust CO dba First Bankers Trust CO Buys 14,298 Shares of Churchill Downs, Incorporated $CHDN
Town & Country Bank & Trust CO dba First Bankers Trust CO has significantly increased its stake in Churchill Downs (NASDAQ:CHDN) by 108.0% in Q3, now owning 27,531 shares valued at $2.67 million. This move highlights a broader trend of institutional interest, with several other investors also recently establishing or boosting positions in the company, which has 82.59% institutional ownership. Analysts currently have a "Moderate Buy" rating for Churchill Downs, with an average price target of $135.36, indicating potential upside from its recent share price of approximately $97.93.
Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Average Rating of "Moderate Buy" from Analysts
Thirteen analysts have given Churchill Downs, Incorporated (NASDAQ:CHDN) an average rating of "Moderate Buy," with an average 12-month price target of $135.36. Institutional investors and hedge funds hold a significant 82.59% of the company's shares. Despite strong institutional interest and analyst confidence, the company exhibits low liquidity and high leverage.
Churchill Downs Casino Sues to Block Maine iGaming ‘Monopoly’ Law
Churchill Downs' Oxford Casino Hotel has filed a lawsuit against the state of Maine to block a new law that grants iGaming rights exclusively to tribal nations. The casino argues the law, dubbed "The Monopoly Law," violates state and U.S. constitutions and will cause significant economic harm, including job losses and lost wages. Churchill Downs, a member of an anti-iGaming group, also states that if iGaming is legal in Maine, it should be open to commercial casinos, not just tribes.
Y Intercept Hong Kong Ltd Boosts Stake in Churchill Downs, Incorporated $CHDN
Y Intercept Hong Kong Ltd significantly increased its stake in Churchill Downs (NASDAQ:CHDN) by 356.8% in Q3, now holding 52,942 shares valued at $5.14 million. This move is part of broader institutional interest, with total institutional ownership reaching 82.59%. Churchill Downs itself reported strong quarterly earnings, beating analyst expectations, and maintains a "Moderate Buy" rating with an average price target of $135.36.
Jennison Associates LLC Grows Stock Position in Churchill Downs, Incorporated $CHDN
Jennison Associates LLC significantly increased its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 52.3% in Q3, bringing its total to 1,457,336 shares valued at $141.4 million. Other major institutional investors like London Co. of Virginia, AQR Capital Management, and Bank of America Corp DE also boosted their holdings. Analysts maintain a "Moderate Buy" rating for Churchill Downs with an average price target of $135.36, highlighting confidence despite recent stock fluctuations.
Winter Blast Freezes Weekend Turfway Cards
Turfway Park in Florence, Kentucky, has canceled its Friday and Saturday live racing programs due to severe winter weather, including frigid wind chills and potential snow accumulation. The canceled races, including the Wishing Well Stakes, will be rescheduled as extras on future race days. Thursday's racing card is expected to proceed as planned.
Early Nominations For 2026 Triple Crown Due Monday
Nominations are now open for 3-year-old Thoroughbreds to become eligible for the 2026 Triple Crown, with an early payment of $600 due by Monday, January 26. The Triple Crown series includes the Kentucky Derby on May 2, the Preakness Stakes on May 16, and the Belmont Stakes on June 6. Late nominations will be accepted for a higher fee, and supplemental nominations are also possible closer to each race.
Churchill Downs readies opening of 8th historical racing venue in Kentucky
Churchill Downs Incorporated (CDI) is set to open its eighth historical racing entertainment venue in Kentucky, Marshall Yards Racing & Gaming, on February 25. This 23,000 square foot facility will feature 225 historical racing machines, a sports bar, and simulcast and sports wagering. The investment aims to boost Kentucky's horse racing industry, create jobs, and enhance tourism and economic vitality in Marshall County.
Churchill Downs Invests $200M to Launch Rockingham Grand Casino
Churchill Downs Inc. (CDI) is investing between $180 million and $200 million to transform Casino Salem into the new Rockingham Grand Casino in Salem, New Hampshire. This development includes 825 historical racing machines, 32 table games, 12 electronic table games, restaurants, and a 900-seat live music venue, targeting a mid-2027 opening. The project aims to attract visitors from the Boston region and contribute to New Hampshire charities, aligning with the state's evolving gambling laws and CDI's strong financial performance.
Churchill Downs Incorporated Announces Grand Opening for Marshall Yards Racing & Gaming
Churchill Downs Incorporated (CDI) announced the grand opening of Marshall Yards Racing & Gaming, its eighth historical racing entertainment venue in Kentucky, on February 25, 2026. The 23,000 square foot facility will feature 225 historical racing machines, a sports bar, and simulcast and sports wagering, supporting purse funding for races at Oak Grove. CDI's CEO, Bill Carstanjen, stated that this investment aims to boost Kentucky's horse racing industry, create jobs, and enhance Marshall County's economy.
Churchill Downs Incorporated Announces Grand Opening of Marshall Yards Racing & Gaming in Kentucky
Churchill Downs Incorporated (CDI) is set to open its eighth historical racing entertainment venue, Marshall Yards Racing & Gaming, on February 25, 2026, in Southwestern Kentucky. The 23,000 square-foot facility will feature 225 historical racing machines, a sports bar, and other entertainment options, aiming to boost the local economy through job creation and tourism. This expansion underscores CDI's commitment to enhancing Kentucky's horse racing industry and delivering world-class entertainment.
Churchill Downs Incorporated Announces Grand Opening of Marshall Yards Racing & Gaming in Kentucky
Churchill Downs Incorporated announced the grand opening of Marshall Yards Racing & Gaming, its eighth historical racing entertainment venue in Kentucky, on February 25, 2026. This 23,000-square-foot facility, located at the intersection of I-24 and I-69, will feature 225 historical racing machines, a sports bar, simulcast and sports wagering. The company expects the venue to create jobs, boost tourism, and support Kentucky's horse racing industry.
New Kentucky racing hub brings 225 gaming machines, tourism to Marshall County
Churchill Downs Incorporated announced the grand opening of Marshall Yards Racing & Gaming in Southwestern Kentucky on February 25, 2026. This 23,000 square foot facility will feature 225 historical racing machines, a sports bar, and wagering options, serving as CDI's eighth historical racing venue in Kentucky. Management anticipates the new venue will create jobs, boost tourism, and enhance Marshall County's economic vitality while supporting purse funding for Oak Grove Racing, Gaming & Hotel.
EULAV Asset Management Sells 26,500 Shares of Churchill Downs, Incorporated $CHDN
EULAV Asset Management has reduced its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by selling 26,500 shares, bringing its total holdings to 270,262 shares valued at approximately $26.2 million. This comes as Churchill Downs reported strong Q3 earnings, surpassing analyst expectations with an EPS of $1.09 and revenue of $683 million. The company maintains a "Moderate Buy" consensus rating from analysts with a target price of $135.36, and recently increased its annual dividend.
Churchill Downs Plans $200M Expansion of New Hampshire Casino
Churchill Downs Inc. (CDI) is investing $180-200 million to expand its Casino Salem in New Hampshire, redeveloping it into the 160,000-square-foot Rockingham Grand Casino. The new facility, approved by the Salem Planning Board in December 2025, will feature 825 historical racing machines, 32 table games, a 900-seat entertainment venue, and multiple dining options. CDI aims to open the Rockingham Grand Casino by mid-2027.
Churchill Downs to invest up to $200 million in Casino Salem redevelopment
Churchill Downs Incorporated (CDI) plans to invest up to $200 million to expand its Casino Salem charitable gaming facility in New Hampshire, renaming it Rockingham Grand Casino. The enlarged venue will be 160,000 sq. ft and include 825 historical racing machines and 32 table games, with an anticipated opening in mid-2027. CDI acquired a majority stake in Casino Salem last August and received planning approval in December, with shares in CDI gaining 2.46 per cent on Wednesday.
Casino Salem will be rebranded as Rockingham Grand Casino
Churchill Downs Inc. plans to invest $180 million to $200 million into rebranding Casino Salem as the Rockingham Grand Casino at the Mall at Rockingham Park. The new facility will feature hundreds of electronic and table games, multiple restaurants, and a 900-seat live music venue, with a horse racing theme. The casino is expected to fully open by mid-2027 and will eventually occupy 160,000 square feet.
