Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by iconic flagship event, the Kentucky Derby. The Company owns and operates three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines in Kentucky. It also owns and operates TwinSpires, one of the largest and most profitable online wagering platforms for horse racing, sports and iGaming in the U.S. and it has seven retail sportsbooks. The Company is also a leader in brick-and-mortar casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals and 200 table games.
Company profile
Ticker
CHDN
Exchange
CEO
William Carstanjen
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CHURCHILL DOWNS INC, CHURCHILL DOWNS Inc
SEC CIK
Corporate docs
Subsidiaries
Arlington OTB Corp. • Arlington Park Racecourse, LLC • BB Development, LLC • BetAmerica LLC • BG Kentucky Management, LLC • CDIHC, LLC • CDITH, LLC • CDTC, LLC • CEP IV Chicago Holdco LLC • Calder Race Course, Inc. ...
IRS number
610156015
CHDN stock data
Analyst ratings and price targets
Latest filings (excl ownership)
ARS
2022 FY
Annual report to shareholders
16 Mar 23
DEFA14A
Additional proxy soliciting materials
16 Mar 23
DEF 14A
Definitive proxy
16 Mar 23
8-K
Churchill Downs Incorporated Announces a $500 Million Senior Secured Term Loan A Financing Transaction
24 Feb 23
10-K
2022 FY
Annual report
22 Feb 23
8-K
Churchill Downs Incorporated Reports 2022 Fourth Quarter and Full Year Results
22 Feb 23
8-K/A
Financial Statements and Exhibits
17 Jan 23
8-K
Churchill Downs Incorporated to Acquire Exacta Systems
20 Dec 22
8-K
Churchill Downs Incorporated Appoints Andréa Carter to Board of Directors
16 Dec 22
8-K
Churchill Downs Incorporated Completes Acquisition of Substantially All of the Assets of Peninsula Pacific Entertainment
1 Nov 22
Transcripts
CHDN
Earnings call transcript
2022 Q4
23 Feb 23
CHDN
Earnings call transcript
2022 Q3
27 Oct 22
CHDN
Earnings call transcript
2022 Q2
28 Jul 22
CHDN
Earnings call transcript
2022 Q1
28 Apr 22
CHDN
Earnings call transcript
2021 Q4
24 Feb 22
CHDN
Earnings call transcript
2021 Q3
28 Oct 21
CHDN
Earnings call transcript
2021 Q2
31 Jul 21
CHDN
Earnings call transcript
2021 Q1
22 Apr 21
CHDN
Earnings call transcript
2020 Q4
28 Feb 21
CHDN
Earnings call transcript
2020 Q3
29 Oct 20
Latest ownership filings
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
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| Revenue | |||||
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| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
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| Net income | |||||
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| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 204.70 mm | 204.70 mm | 204.70 mm | 204.70 mm | 204.70 mm | 204.70 mm |
| Cash burn (monthly) | 496.17 mm | 12.58 mm | (no burn) | (no burn) | 27.30 mm | 10.49 mm |
| Cash used (since last report) | 1.41 bn | 35.77 mm | n/a | n/a | 77.65 mm | 29.84 mm |
| Cash remaining | -1.21 bn | 168.93 mm | n/a | n/a | 127.05 mm | 174.86 mm |
| Runway (months of cash) | -2.4 | 13.4 | n/a | n/a | 4.7 | 16.7 |
Institutional ownership, Q4 2022
75.5% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 319 |
| Opened positions | 37 |
| Closed positions | 46 |
| Increased positions | 99 |
| Reduced positions | 126 |
| 13F shares | Current |
|---|---|
| Total value | 5.92 tn |
| Total shares | 28.26 mm |
| Total puts | 16.80 k |
| Total calls | 28.20 k |
| Total put/call ratio | 0.6 |
| Largest owners | Shares | Value |
|---|---|---|
| FMR | 4.55 mm | $961.91 bn |
| Vanguard | 3.31 mm | $699.98 bn |
| BLK Blackrock | 2.99 mm | $631.95 bn |
| Capital Research Global Investors | 1.59 mm | $336.56 bn |
| Schroder Investment Management | 1.23 mm | $260.90 bn |
| London Co Of Virginia | 938.29 k | $198.38 bn |
| STT State Street | 899.44 k | $190.83 bn |
| AMP Ameriprise Financial | 636.16 k | $134.51 bn |
| ArrowMark Colorado | 570.25 k | $120.57 bn |
| Brown Advisory | 511.89 k | $108.23 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 3 Mar 23 | Mudd William E | Common Stock | Sell | Dispose S | No | Yes | 246.03 | 9,727 | 2.39 mm | 276,275.898 |
| 2 Mar 23 | Mudd William E | Common Stock | Sell | Dispose S | No | Yes | 244.48 | 12,049 | 2.95 mm | 286,002.898 |
| 2 Mar 23 | Mudd William E | Common Stock | Sell | Dispose S | No | Yes | 243.29 | 7,951 | 1.93 mm | 298,051.898 |
| 1 Mar 23 | Mudd William E | Common Stock | Sell | Dispose S | No | Yes | 247.29 | 2,782 | 687.96 k | 306,002.898 |
| 1 Mar 23 | Mudd William E | Common Stock | Sell | Dispose S | No | Yes | 246.74 | 11,415 | 2.82 mm | 308,784.898 |
| 1 Mar 23 | Mudd William E | Common Stock | Sell | Dispose S | No | Yes | 245.51 | 5,803 | 1.42 mm | 320,199.898 |
| 15 Feb 23 | Marcia A Dall | Common Stock | Payment of exercise | Dispose F | No | No | 249.81 | 4,436 | 1.11 mm | 63,251 |
| 15 Feb 23 | Marcia A Dall | Common Stock | Grant | Acquire A | No | No | 0 | 9,633 | 0.00 | 67,687 |
| 15 Feb 23 | Marcia A Dall | RSU Common Stock | Grant | Acquire A | No | No | 0 | 4,404 | 0.00 | 12,758.064 |
| 15 Feb 23 | Bradley K. Blackwell | RSU Common Stock | Grant | Acquire A | No | No | 0 | 2,202 | 0.00 | 4,625 |
News
Benzinga's Top Ratings Upgrades, Downgrades For March 17, 2023
17 Mar 23
The Latest Analyst Ratings for Churchill Downs
17 Mar 23
Truist Securities Initiates Coverage On Churchill Downs with Buy Rating, Announces Price Target of $300
17 Mar 23
Expert Ratings for Churchill Downs
27 Feb 23
Susquehanna Maintains Positive on Churchill Downs, Raises Price Target to $286
27 Feb 23
Press releases
Churchill Downs Incorporated Announces a $500 Million Senior Secured Term Loan A Financing Transaction
24 Feb 23
Churchill Downs Incorporated Reports 2022 Fourth Quarter and Full Year Results
22 Feb 23
Churchill Downs Incorporated Closes on Sale of Arlington Heights Property to Chicago Bears
15 Feb 23
Churchill Downs Incorporated 2022 Fourth Quarter and Full Year Financial Results Conference Call Invitation
13 Jan 23
Woodford Reserve Extends Partnership with Churchill Downs as Presenting Sponsor of the Kentucky Derby
11 Jan 23