Churchill Downs (CHDN) 10-Q 23 Apr 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 18, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
FALSE	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Registrant Name	'CHURCHILL DOWNS INC	'
Entity Central Index Key	'0000020212	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	17,857,346

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$47,164	$44,708
Restricted cash	30,548	36,074
Accounts receivable, net of allowance for doubtful accounts of $4,487 at March 31, 2014 and $4,338 at December 31, 2013	35,231	46,572
Deferred income taxes	7,100	8,927
Income taxes receivable	8,195	12,398
Other current assets	20,764	12,036
Total current assets	149,002	160,715
Property and equipment, net	590,586	585,498
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	94,692	86,151
Goodwill	300,616	300,616
Other intangible assets, net	195,321	198,149
Other assets	20,866	21,132
Total assets	1,351,083	1,352,261
LIABILITIES AND SHAREHOLDERS' EQUITY	'	'
Accounts payable	51,697	43,123
Bank overdraft	2,818	973
Account Wagering Deposit Liability	19,700	18,679
Purses payable	13,394	18,839
Accrued expenses	51,808	66,469
Interest Payable, Current	4,944	859
Dividends Payable, Current	0	15,186
Deferred revenue	70,413	49,078
Total current liabilities	214,774	213,206
Long-term debt, net of current maturities	365,750	369,191
Other liabilities	18,299	17,753
Deferred revenue	17,018	16,706
Deferred income taxes	30,616	30,616
Total liabilities	646,457	647,472
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Preferred stock, no par value; 250 shares authorized; no shares issued	0	0
Common stock, no par value; 50,000 shares authorized; 17,857 shares issued at March 31, 2014 and 17,948 shares issued at December 31, 2013	296,492	295,955
Retained earnings	408,134	408,834
Total shareholders' equity	704,626	704,789
Total liabilities and shareholders' equity	$1,351,083	$1,352,261

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Allowance for doubtful accounts	$4,487	$4,338
Preferred stock, shares authorized	250	250
Common stock, shares authorized	50,000	50,000
Common stock, shares issued	17,857	17,948

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Comprehensive Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net revenues:	'	'
Racing	$30,579	$27,813
Gaming	86,555	72,089
Online	46,084	42,916
Other	4,092	5,058
Net revenues	167,310	147,876
Operating expenses:	'	'
Racing	43,220	41,120
Gaming	62,215	50,988
Online	33,577	30,362
Other	5,698	5,182
Selling, general and administrative expenses	21,465	17,558
Insurance recoveries, net of losses	-431	-375
Operating income	1,566	3,041
Other income (expense):	'	'
Interest income	4	10
Interest expense	-4,973	-1,476
Equity in gains (losses) of unconsolidated investments	2,290	-164
Miscellaneous, net	-25	7
Total other income (expense)	-2,704	-1,623
(Loss) earnings from continuing operations before provision for income taxes	-1,138	1,418
Income tax benefit (provision)	438	-329
(Loss) earnings from continuing operations	-700	1,089
Discontinued operations, net of income taxes:	'	'
Loss from operations	0	-31
Net (loss) earnings and comprehensive income	($700)	$1,058
Earnings Per Share, Basic [Abstract]	'	'
Net earnings (in dollars per share), Basic	($0.04)	$0.06
Earnings Per Share, Diluted [Abstract]	'	'
Net earnings (in dollars per share), Diluted	($0.04)	$0.06
Weighted average shares outstanding:	'	'
Basic (in shares)	17,419	17,209
Diluted (in shares)	17,419	17,828

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net (loss) earnings and comprehensive income	($700)	$1,058
Adjustments to reconcile net (loss) earnings and comprehensive income to net cash provided by operating activities:	'	'
Depreciation and amortization	15,284	15,035
Loss (gain) on asset disposition	1	-1
Equity in (gain) loss of unconsolidated investments	-2,290	164
Share-based compensation	5,241	3,363
Other	149	244
Increase (decrease) in cash resulting from changes in operating assets and liabilities:	'	'
Restricted cash	6,547	6,758
Accounts receivable	-153	4,413
Other current assets	-8,883	-8,970
Accounts payable	9,519	-203
Purses payable	-5,445	-3,318
Accrued expenses	-6,979	-8,980
Deferred revenue	33,099	37,378
Income taxes receivable and payable	6,030	-460
Other assets and liabilities	511	234
Net cash provided by operating activities	51,931	46,715
Cash flows from investing activities:	'	'
Additions to property and equipment	-20,169	-13,694
Investment in joint venture	-6,500	-3,500
Purchases of minority investments	-273	-365
Proceeds on sale of property and equipment	86	0
Change in deposit wagering asset	-1,021	-2,244
Net cash used in investing activities	-27,877	-19,803
Cash flows from financing activities:	'	'
Borrowings on bank line of credit	93,067	103,387
Repayments on bank line of credit	-96,509	-125,796
Change in bank overdraft	1,845	-3,633
Payment of dividends	-15,186	0
Repurchase of common stock	-7,402	-1,007
Common stock issued	68	53
Windfall tax benefit from share-based compensation	2,630	0
Loan Origination Fees	-103	-49
Payments of Debt Issuance Costs	-1,029	0
Change in deposit wagering liability	1,021	2,244
Net cash used in financing activities	-21,598	-24,801
Net increase in cash and cash equivalents	2,456	2,111
Cash and cash equivalents, beginning of period	44,708	37,177
Cash and cash equivalents, end of period	47,164	39,288
Cash paid during the period for:	'	'
Interest	381	1,004
State tax credits	0	1,298
Income taxes	48	26
Schedule of non-cash investing and financing activities:	'	'
Issuance of common stock in connection with the Company LTIP, the New Company LTIP and other restricted stock plans	$0	$26,174

Basis_Of_Presentation

Basis Of Presentation	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis Of Presentation	'
	NOTE 1 — BASIS OF PRESENTATION
	The accompanying Condensed Consolidated Financial Statements are presented in accordance with the requirements of this Quarterly Report on Form 10-Q and consequently do not include all of the disclosures normally required by Generally Accepted Accounting Principles ("GAAP") in the United States of America or those normally made in Churchill Downs Incorporated’s (the “Company”) Annual Report on Form 10-K. The year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. Accordingly, the reader of this Quarterly Report on Form 10-Q should refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 for further information. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with the Company’s customary accounting practices and have not been audited.
	In the opinion of management, all adjustments necessary for a fair statement of this information have been made, and all such adjustments are of a normal, recurring nature.
	The Company’s revenues and earnings are seasonal in nature, primarily due to its Racing Operations segment. Therefore, revenues and operating results for any interim quarter are generally not indicative of the revenues and operating results for the year and may not be comparable with results for the corresponding period of the previous year. For instance, the Company historically has had fewer live racing days during the first quarter of each year, and the majority of its live racing revenue occurs during the second quarter, with the running of the Kentucky Derby and the Kentucky Oaks. The Company conducted 92 live thoroughbred racing days during the first quarter of 2014, which compares to 56 live thoroughbred racing days during the first quarter of 2013. This increase is primarily due to Calder Race Course conducting 39 live race days during the first quarter of 2014 compared to no live race days during the first quarter of 2013. Furthermore, gaming revenues and earnings have historically been higher during the first quarter due to seasonal revenues from the Company's predominately southern gaming properties.
	Discontinued Operations
	During the year ended December 31, 2013, the Company ceased operations of Fight! Magazine, a division of Bluff Media, and its results of operations for the three months ended March 31, 2013 have been reclassified to discontinued operations.
	Comprehensive Income
	The Company had no other components of comprehensive income and, as such, comprehensive income is the same as net earnings as presented in the accompanying Condensed Consolidated Statements of Comprehensive Income.
	Customer Loyalty Programs
	The Company’s customer loyalty programs offer incentives to customers who wager at the Company’s racetracks, through its advance deposit wagering platform, TwinSpires.com, or at its gaming facilities. The TSC Elite program is for pari-mutuel wagering at the Company’s racetracks or through TwinSpires.com. The Player’s Club is offered at the Company’s gaming facilities in Louisiana, Florida, Maine and Mississippi. As of both March 31, 2014 and December 31, 2013, the outstanding reward point liabilities were $2.1 million and were included in accrued expenses.
	Promotional Allowances
	Promotional allowances, which include the Company’s customer loyalty programs, primarily consist of the retail value of complimentary goods and services provided to guests at no charge. The retail value of these promotional allowances is included in gross revenue and then deducted to arrive at net revenue.
	During the three months ended March 31, 2014 and 2013, promotional allowances of $7.6 million and $7.3 million, respectively, were included as a reduction to net revenues. During those periods, Online Business promotional allowances were $2.7 million and $2.4 million, respectively. Gaming promotional allowances were $4.7 million for each period, respectively. Racing Operations promotional allowances were $0.2 million for each period, respectively. The estimated cost of providing promotional allowances included in operating expenses totaled $2.3 million for each of the three months ended March 31, 2014 and 2013.

Acquisitions_And_New_Ventures_

Acquisitions And New Ventures Acquisition And New Ventures (Notes)	3 Months Ended
	Mar. 31, 2014
Acquisitions and Joint Ventures [Abstract]	'
Acquisitions And New Ventures	'
	NOTE 2 — ACQUISITIONS AND NEW VENTURES
	Oxford Casino Acquisition
	On July 17, 2013, the Company completed its acquisition of Oxford Casino (“Oxford”) in Oxford, Maine for cash consideration of approximately $168.6 million. The transaction included the acquisition of a 25,000-square-foot casino with approximately 800 slot machines, 22 table games and various dining facilities. The acquisition continued the Company's diversification and growth strategies to invest in assets with rates of returns attractive to the Company's shareholders. The Company financed the acquisition with borrowings under its revolving credit facility. The fair value of the assets acquired and liabilities assumed has been included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. During the three month period ended March 31, 2014, Oxford contributed revenues of $17.5 million and earnings from continuing operations before provision for income taxes of $2.5 million.
	Pro Forma
	The following table illustrates the effect on net revenues, earnings from continuing operations and earnings from continuing operations per common share as if the Company had acquired Oxford as of the beginning of 2013. The pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that would have occurred had the acquisition of Oxford been consummated at the beginning of 2013 (in thousands, except per common share data):
		Three Months Ended March 31,
		2013
	Net revenues	$	165,477
	Earnings from continuing operations	$	2,508
	Earnings from continuing operations per common share
	Basic:
	Earnings from continuing operations	$	0.14
	Diluted:
	Earnings from continuing operations	$	0.14
	Shares used in computing earnings from continuing operations per common share:
	Basic	17,209
	Diluted	17,828

Natural_Disasters_Notes

Natural Disasters (Notes)	3 Months Ended
	Mar. 31, 2014
Natural Disasters [Abstract]	'
Natural Disasters	'
	NOTE 3 — NATURAL DISASTERS
	Kentucky Hailstorm
	On April 28, 2012, a hailstorm caused damage to portions of Louisville, Kentucky including Churchill Downs Racetrack ("Churchill Downs") and its separate training facility known as Trackside Louisville. Both locations sustained damage to their stable areas as well as damages to administrative offices and several other structures. The Company carries property and casualty insurance, subject to a $0.5 million deductible. During the years ended December 31, 2013 and 2012, the Company recorded a reduction of property and equipment of $0.6 million and received $1.5 million from its insurance carriers in partial settlement of its claim. During the three months ended March 31, 2014, the Company received an additional $0.4 million from its insurance carriers and recognized insurance recoveries, net of losses of $0.4 million as a component of operating income. The insurance claims for this event have been finalized with our insurance carriers, and the Company does not expect to receive additional funds from this claim.

Investment_in_and_Advances_to_

Investment in and Advances to Unconsolidated Affiliate (Notes)	3 Months Ended
	Mar. 31, 2014
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]	'
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	'
	NOTE 4—INVESTMENT IN AND ADVANCES TO UNCONSOLIDATED AFFILIATE
	During March 2012, the Company entered into a 50% joint venture with Delaware North Companies Gaming & Entertainment Inc. (“DNC”) to develop a new harness racetrack and video lottery terminal (“VLT”) gaming facility in Lebanon, Ohio. Through the joint venture agreement, the Company and DNC formed a new company, Miami Valley Gaming, LLC (“MVG”), to manage both the Company’s and DNC’s interests in the development and operation of the racetrack and VLT gaming facility. On December 21, 2012, MVG completed the purchase of the harness racing licenses and certain assets held by Lebanon Trotting Club Inc. and Miami Valley Trotting Inc. ("MVG Sellers") for total consideration of $60.0 million, of which $10.0 million was funded at closing with the remainder funded through a $50.0 million note payable with a six year term effective upon the commencement of gaming operations. In addition, there is a potential contingent consideration payment of $10.0 million based on the financial performance of the facility during the seven year period after gaming operations commence.
	On December 12, 2013, the new facility opened in Lebanon, Ohio on a 120-acre site. The facility includes a 5/8-mile harness racing track and a 186,000-square-foot gaming facility with approximately 1,600 VLTs, which the joint venture may increase to 1,800 VLTs, dependent on customer demand. MVG has invested approximately $212.0 million in the new facility, including one-half of a $50.0 million license fee to the Ohio Lottery Commission. The remaining $25 million license fee will be funded during the fourth quarter of 2014. During the three months ended March 31, 2014, the Company funded $6.5 million in capital contributions to the joint venture.
	Since both DNC and the Company have participating rights over MVG, and both must consent to MVG's operating, investing and financing decisions, the Company accounts for MVG using the equity method. Summarized financial information for MVG is comprised of the following (in thousands):
		March 31, 2014			December 31, 2013
	Assets
	Current assets	$	21,638		$	18,002
	Property and equipment, net	148,083			151,434
	Other assets, net	80,746			80,665
	Total assets	$	250,467		$	250,101
	Liabilities and Members' Equity
	Current liabilities	$	31,785		$	46,966
	Long-term debt	39,223			40,758
	Other liabilities	75			75
	Members' equity	179,384			162,302
	Total liabilities and members' equity	$	250,467		$	250,101
	The joint venture's long-term debt consists of a $50 million secured note payable from MVG to the MVG Sellers payable quarterly over six years at a 5.0% interest rate.
		Three Months Ended
		March 31, 2014			March 31, 2013
	Gaming revenue	$	31,163		$	—
	Non-gaming revenue	1,631			1,441
	Net revenues	32,794			1,441
	Operating and SG&A expenses	24,211			1,553
	Depreciation & amortization expenses	3,367			23
	Pre-opening expenses	54			460
	Operating income (loss)	5,162			(595		)
	Interest and other expenses, net	(1,080		)	—
	Net income (loss)	$	4,082		$	(595	)
	The Company's share of MVG's results have been included in our accompanying condensed consolidated financial statements for the three months ended March 31, 2014 and 2013, as follows (in thousands):
		March 31, 2014			31-Mar-13
	Equity in gains (losses) of unconsolidated investments	$	2,041		$	(298	)

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	NOTE 5 — INCOME TAXES
	The Company’s effective tax rate from continuing operations for the three months ended March 31, 2014 and 2013 was 38% and 23%, respectively. The effective tax rate for the three months ended March 31, 2014 was greater than the Federal statutory rate due to state income taxes and certain expenses that are not deductible for tax purposes. The effective tax rate for the three months ended March 31, 2013 was less than the Federal statutory tax rate due to the benefit of movie tax credits that were purchased during this period and the receipt of a state tax refund that had not yet been recognized.
	Certain tax authorities may periodically audit the Company, and the Company may occasionally be assessed interest and penalties by tax jurisdictions. The Company recognizes accrued interest from uncertain income tax benefits in its income tax provision, while penalties are accrued in selling, general and administrative expenses. During the three months ended March 31, 2014, the Company accrued less than $0.1 million of interest expense related to uncertain income tax benefits and had gross uncertain tax benefits of $0.6 million as of March 31, 2014. If these benefits had been recognized, there would have been a $0.5 million effect to annual income tax expense.
	During October 2012, the Company funded a $2.9 million income tax payment to the State of Illinois related to a dispute over state income tax apportionment methodology which was recorded as an other asset. The Company filed its state income tax returns related to the years 2002 through 2005 following the methodology prescribed by Illinois statute; however, the State of Illinois has taken a contrary tax position. The Company filed a formal protest with the State of Illinois during the fourth quarter of 2012. The Company does not expect this issue to have a material adverse effect on its business, financial condition and results of operations.

Goodwill_And_IndefiniteLived_I

Goodwill And Indefinite-Lived Intangible Assets Impairment Test	3 Months Ended
	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Indefinte-Lived Intangible Assets Impairment Test	'
	NOTE 6 — GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS IMPAIRMENT TEST
	In accordance with ASU No. 2011-08, Intangibles-Goodwill and Other: Testing Goodwill for Impairment and ASU No. 2012-02, Intangibles-Goodwill and Other: Testing Indefinite-Lived Intangible Assets for Impairment, the Company completed the required annual impairment tests of goodwill and indefinite-lived intangible assets as of March 31, 2014, and no adjustment to the carrying value of goodwill or indefinite-lived intangible assets was required. The Company assessed its goodwill and indefinite-lived intangible assets by qualitatively evaluating events and circumstances that have both positive and negative factors, including macroeconomic conditions, industry events, financial performance and other changes and concluded that it was more likely than not that fair value of its reporting units was greater than their carrying value, and as such, the Company was not required to calculate the fair value of its reporting units.
	Definite-lived and indefinite-lived intangible assets are summarized as follows:
		March 31, 2014							December 31, 2013
		Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
	Definite-lived intangible assets	$	76,002	$	(39,024	)	$	36,978	$	76,002	$	(36,196	)	$	39,806
	Indefinite-lived intangible assets	158,343		—			158,343		158,343		—			158,343
	Total	$	234,345	$	(39,024	)	$	195,321	$	234,345	$	(36,196	)	$	198,149

Fair_Value_Of_Assets_And_Liabi

Fair Value Of Assets And Liabilities	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Of Assets And Liabilities	'
	NOTE 7 — FAIR VALUE OF ASSETS AND LIABILITIES
	The Company endeavors to utilize the best available information in measuring fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The following table presents the Company’s assets and liabilities measured at fair value as of March 31, 2014 and December 31, 2013, respectively (in thousands):
		Fair Value
		Hierarchy	March 31,			December 31,
			2014			2013
	Cash equivalents and restricted cash	Level 1	$	31,549		$	36,940
	Contingent consideration liability	Level 3	$	(2,331	)	$	(2,331	)
	Senior Unsecured Notes	Level 2	$	307,500		$	305,250
	The Company's cash equivalents and restricted cash, which are held in interest-bearing accounts, qualify for Level 1 in the fair value hierarchy which includes unadjusted quoted market prices in active markets for identical assets.
	The Company's accrued liability for a contingent consideration recorded in conjunction with the Bluff Media acquisition was based on significant inputs not observed in the market and represents a Level 3 fair value measurement. The estimate of the contingent consideration liability uses an income approach and is based on the probability of achieving enabling legislation which permits Internet poker gaming and the probability-weighted discounted cash flows. Any change in the fair value of the contingent consideration subsequent to the acquisition date will be recognized in the Company's Condensed Consolidated Statements of Comprehensive Income.
	The Company's $300 million par value Senior Unsecured Notes represent a Level 2 fair value measurement. The fair value of the Senior Unsecured Notes is estimated based on unadjusted quoted prices for similar liabilities in markets that are not active.
	The Company currently has no other assets or liabilities subject to fair value measurement on a recurring basis. The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:
	Cash Equivalents—The carrying amount reported in the balance sheet for cash equivalents approximates its fair value due to the short-term maturity of these instruments.
	Long-Term Debt: Senior Secured Credit Facility—The carrying amounts of the Company’s borrowings under its Senior Secured Credit Facility approximates fair value, based upon current interest rates and represents a Level 2 fair value measurement.
	During the three months ended March 31, 2014, the Company did not measure any assets at fair value on a non-recurring basis.

Longterm_Incentive_Plan_Notes

Long-term Incentive Plan (Notes)	3 Months Ended
	Mar. 31, 2014
LTIP [Abstract]	'
Long-term Incentive Plan	'
	NOTE 8- LONG-TERM INCENTIVE PLAN
	During 2013, the Board of Directors approved the terms and conditions of performance share awards issued pursuant to the Churchill Downs Incorporated 2007 Omnibus stock incentive plan (the "New Company LTIP"). As a way to continue to encourage innovation, an entrepreneurial approach, and careful risk assessment, and in order to retain key executives, the New Company LTIP offers long-term incentive compensation to the Company's named executive officers and other key executives ("Grantees") as reported in the Company's Schedule 14A Proxy Statement filing, with the exception of our Chairman of the Board and Chief Executive Officer.
	During 2013, the Grantees received 92,000 restricted shares of the Company's common stock vesting over approximately four years and 324,000 restricted shares of the Company's common stock with vesting contingent upon the Company's common stock reaching certain closing prices on NASDAQ for 20 consecutive trading days. During the year ended December 31, 2013, the Company's closing stock price achieved the twenty consecutive trading days closing stock price requirement for 155,000 restricted shares. Per the terms of the New Company LTIP, Grantees vested in 141,000 of these shares during the three months ended March 31, 2014. The remaining 14,000 shares will vest in August and September 2014.
	During the three months ended March 31, 2014, the Company recognized $4.3 million of compensation expense related to the New Company LTIP. As of March 31, 2014, unrecognized compensation expense attributable to unvested market condition awards and service period awards was $2.4 million and $4.4 million, respectively. The weighted average period over which the Company expects to recognize the remaining compensation expense under the market condition awards and service period awards approximates 2 months and 26 months, respectively.

Earnings_Per_Common_Share_Comp

Earnings Per Common Share Computations	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Common Share Computations	'
	NOTE 9 — EARNINGS PER COMMON SHARE COMPUTATIONS
	The following is a reconciliation of the numerator and denominator of the earnings per common share computations (in thousands, except per share data):
		Three Months Ended March 31,
		2014			2013
	Numerator for basic (loss) earnings from continuing operations per common share
	(Loss) earnings from continuing operations	$	(700	)	$	1,089
	Earnings from continuing operations allocated to participating securities	—			(24		)
	Numerator for basic (loss) earnings from continuing operations per common share	$	(700	)	$	1,065
	Numerator for basic (loss) earnings per common share
	Net (loss) earnings	$	(700	)	$	1,058
	Net earnings allocated to participating securities	—			(24		)
	Numerator for basic net (loss) earnings per common share	$	(700	)	$	1,034
	Numerator for diluted (loss) earnings from continuing operations per common share	$	(700	)	$	1,089
	Numerator for diluted (loss) earnings per common share	$	(700	)	$	1,034
	Denominator for net (loss) earnings per common share:
	Basic	17,419			17,209
	Plus dilutive effect of stock options	—			222
	Plus dilutive effect of participating securities	—			397
	Diluted	17,419			17,828
	(Loss) earnings per common share:
	Basic
	Net (loss) earnings	$	(0.04	)	$	0.06
	Diluted
	Net (loss) earnings	$	(0.04	)	$	0.06
	Options to purchase approximately 0.5 million shares related to stock options and participating securities for the three months ended March 31, 2014 were excluded from the computation of diluted loss per common share since their effect was antidilutive because of the net loss from continuing operations for the period.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	NOTE 10 — SEGMENT INFORMATION
	The Company operates in the following four segments: (1) Racing Operations, which includes Churchill Downs, Arlington International Race Course ("Arlington") and its eleven off-track betting facilities ("OTBs"), Calder Race Course ("Calder") and Fair Grounds Race Course ("Fair Grounds") and the pari-mutuel activity generated at its twelve OTBs; (2) Gaming, which includes video poker and gaming operations at Calder Casino, Fair Grounds Slots, Harlow’s Casino Resort & Spa ("Harlow's"), the Company's equity investment in MVG, Oxford, Riverwalk and Video Services, LLC (“VSI”); (3) Online Business, which includes TwinSpires, our Advance Deposit Wagering (“ADW”) business, Fair Grounds Account Wagering, Bloodstock Research Information Services, Velocity, a business focused on high wagering-volume international customers and Luckity, an ADW business that offers real-money Bingo online with outcomes based on and determined by pari-mutuel wagers on live horseraces, as well as the Company's equity investment in HRTV, LLC; and (4) Other Investments, which includes United Tote, Bluff Media and the Company's other minor investments. Eliminations include the elimination of intersegment transactions.
	On January 1, 2014, the Company reclassified its equity investment in MVG from Other Investments to Gaming, to coincide with the first full period of operations for the venture, which opened on December 12, 2013. MVG's results of operations for the three months ended March 31, 2013 have been reclassified to the Gaming segment.
	In order to evaluate the performance of these operating segments internally, the Company uses Adjusted EBITDA (defined as earnings before interest, taxes, depreciation, amortization, insurance recoveries net of losses, HRE Trust Fund proceeds, share-based compensation expenses, pre-opening expenses, the impairment of assets and other charges or recoveries). Adjusted EBITDA also includes 50% of the operating income or loss of our joint venture, MVG. The Company utilizes the Adjusted EBITDA metric because it believes the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide a more accurate measure of its core operating results and enables management and investors to evaluate and compare from period to period our operating performance in a meaningful and consistent manner. Adjusted EBITDA should not be considered as an alternative to operating income as an indicator of performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure provided in accordance with GAAP. The Company's calculation of Adjusted EBITDA may be different from the calculation used by other companies and, therefore, comparability may be limited.
	The Company implemented the Adjusted EBITDA measure during the second quarter of 2013. The segment information for the three months ended March 31, 2013 has been revised to reflect the change in the segment profitability reporting measure. The table below presents information about the reported segments for the three months ended March 31, 2014 and 2013 (in thousands):
		Three Months Ended March 31,
		2014			2013
	Net revenues from external customers:
	Churchill Downs	$	2,142		$	2,300
	Arlington	6,122			7,241
	Calder	8,024			2,280
	Fair Grounds	14,291			15,992
	Total Racing Operations	30,579			27,813
	Calder Casino	20,583			20,486
	Fair Grounds Slots	11,784			12,364
	VSI	8,923			9,761
	Harlow's Casino	14,451			15,354
	Oxford Casino	17,519			—
	Riverwalk Casino	13,295			14,124
	Total Gaming	86,555			72,089
	Online Business	46,084			42,916
	Other Investments	3,837			4,902
	Corporate	255			156
	Net revenues from external customers	$	167,310		$	147,876
	Intercompany net revenues:
	Churchill Downs	$	228		$	189
	Arlington	1,017			137
	Calder	356			13
	Fair Grounds	732			833
	Total Racing Operations	2,333			1,172
	Online Business	230			213
	Other Investments	898			902
	Eliminations	(3,461		)	(2,287		)
	Net revenues	$	—		$	—
	Reconciliation of segment Adjusted EBITDA to net (loss) earnings:
	Racing Operations	$	(10,250	)	$	(11,257	)
	Gaming	27,251			21,927
	Online Business	9,950			11,335
	Other Investments	(1,353		)	309
	Total segment Adjusted EBITDA	25,598			22,314
	Corporate Adjusted EBITDA	(1,106		)	(1,177		)
	Insurance recoveries, net of losses	431			375
	Share-based compensation expense	(5,241		)	(3,363		)
	Pre-opening expenses	(27		)	(230		)
	MVG interest expense, net	(540		)	—
	Depreciation and amortization	(15,284		)	(15,035		)
	Interest income (expense), net	(4,969		)	(1,466		)
	Income tax benefit (provision)	438			(329		)
	(Loss) earnings from continuing operations	(700		)	1,089
	Discontinued operations, net of income taxes	—			(31		)
	Net (loss) earnings and comprehensive income	$	(700	)	$	1,058
	The table below presents equity in earnings (losses) of unconsolidated investments included in the Company’s reported segments for the three months ended March 31, 2014 and 2013 (in thousands):
		Three Months Ended March 31,
		2014			2013
	Gaming	$	2,041		$	(298	)
	Online Business	220			109
	Other Investments	29			25
		$	2,290		$	(164	)
	The table below presents total assets for the reported segments (in thousands):
		March 31, 2014			December 31, 2013
	Total assets:
	Racing Operations	$	507,807		$	513,345
	Gaming	621,710			622,038
Online Business	189,746			186,621
Other Investments	31,820			30,257
	$	1,351,083		$	1,352,261
The table below presents total capital expenditures for the reported segments for the three months ended March 31, 2014 and 2013 (in thousands):
	Three Months Ended March 31,
	2014			2013
Capital expenditures:
Racing Operations	$	14,037		$	5,002
Gaming	2,250			6,426
Online Business	1,592			1,985
Other Investments	2,290			281
	$	20,169		$	13,694

Commitments_And_Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments And Contingencies	'
	NOTE 11 — COMMITMENTS AND CONTINGENCIES
	Legal Proceedings
	The Company records an accrual for legal contingencies to the extent that it concludes that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Except as disclosed below, no estimate of the possible loss or range of loss in excess of amounts accrued, if any, can be made at this time regarding the matters specifically described below. We do not believe that the final outcome of these matters will have a material adverse impact on our business, financial condition and results of operations.
	Louisiana Horsemens' Purses
	On April 21, 2014, John L. Soileau and other individuals filed a “Petition for Declaratory Judgment, Permanent Injunction, and Damages - Class Action styled John L. Soileau, et. al. versus Churchill Downs Louisiana Horseracing, LLC, Churchill Downs Lousiana Video Poker Company, LLC (Suit No. 14-3873) in the  Parish of Orleans, State of Louisiana.  The petition defines the “plaintiff class” as quarter-horse owners, trainers and jockeys that have won purses at the “Fair Grounds Race Course & Slots” facility (“Fair Grounds”) in New Orleans, Louisiana since the first effective date of La. R.S. 27:438 and specifically since 2008.  The petition alleges that Churchill Downs Louisiana Horseracing, L.L.C. and Churchill Downs Louisiana Video Poker Company, L.L.C. have collected certain monies through video draw poker devices that constitute monies earned for purse supplements and all of those supplemental purse monies have been paid to thoroughbred horsemen during Fair Grounds’ live thoroughbred horse meets while La. R.S. 27:438 requires a portion of those supplemental purse monies to be paid to quarter-horse horsemen during Fair Grounds’ live quarter-horse meets.  The petition requests that the Court to declare the defendants have breached the requirements of La. R.S. 27:438, issue a permanent and mandatory injunction ordering the defendants to pay all future supplements due to the plaintiff class pursuant to La. R.S. 27:438, and to pay the plaintiff class such sums as it finds to reasonably represent the value of the sums due to the plaintiff class.
	Illinois Department of Revenue
	In October 2012, the Company filed a verified complaint for preliminary and permanent injunctive relief and for declaratory judgment (the “Complaint”) against the Illinois Department of Revenue (the “Department”). The Company's complaint was filed in response to Notices of Deficiency issued by the Department on March 18, 2010 and September 6, 2012. In response to said Notices of Deficiency, the Company, on October 4, 2012, issued a payment in protest in the amount of $2.9 million (the “Protest Payment”) under the State Officers and Employees Money Disposition Act and recorded this amount as an other asset. The Company subsequently filed its complaint in November 2012 alleging that the Department erroneously included handle, instead of the Company's commissions from handle, in the computation of the Company's sales factor (a computation of the Company's gross receipts from wagering within the State of Illinois) for determining the applicable tax owed. On October 30, 2012, the Company's Motion for Preliminary Injunctive Relief was granted, which prevents the Department from depositing any monies from the Protest Payment into the State of Illinois General Fund and from taking any further action against the Company until the Circuit Court takes final action on the Company's Complaint. If successful with its Complaint, the Company will be entitled to a full or partial refund of the Protest Payment from the Department. This matter remains pending before the Tax and Miscellaneous Remedies Section of the Circuit Court of Cook County.
	Kentucky Downs
	On September 5, 2012, Kentucky Downs Management, Inc. (“KDMI”) filed a petition for declaration of rights in Kentucky Circuit Court located in Simpson County, Kentucky styled Kentucky Downs Management Inc. v. Churchill Downs Incorporated (Civil Action No. 12-CI-330) (the “Simpson County Case”) requesting a declaration that the Company does not have the right to exercise its put right and require Kentucky Downs, LLC (“Kentucky Downs”) and/or Kentucky Downs Partners, LLC (“KDP”) to purchase the Company’s ownership interest in Kentucky Downs. On September 18, 2012, the Company filed a complaint in Kentucky Circuit Court located in Jefferson County, Kentucky, styled Churchill Downs Incorporated v. Kentucky Downs, LLC; Kentucky Downs Partners, LLC; and Kentucky Downs Management Inc. (Civil Action No. 12-CI-04989) (the “Jefferson County Case”) claiming that Kentucky Downs and KDP had breached the operating agreement for Kentucky Downs and requesting a declaration that the Company had validly exercised its put right and a judgment compelling Kentucky Downs and/or KDP to purchase the Company’s ownership interest in Kentucky Downs pursuant to the terms of the applicable operating agreement. On October 9, 2012, the Company filed a motion to dismiss the Simpson County Case and Kentucky Downs, KDP and KDMI filed a motion to dismiss the Jefferson County Case. A hearing for the motion to dismiss in the Simpson County Case occurred November 30, 2012. At that hearing the Company’s motion to dismiss the Simpson County Case was denied. Subsequently, Kentucky Downs, KDMI and KDP’s motion to dismiss the Jefferson County Case was granted on January 23, 2013, due to the Simpson County Circuit Court’s assertion of jurisdiction over the dispute. On May 16, 2013, Kentucky Downs, KDP and KDMI filed a Motion for Summary Judgment against the Company and Turfway Park, LLC. On September 19, 2013, the Company filed its response to the Motion for Summary Judgment. A hearing occurred before the Simpson County Circuit Court on September 23, 2013 on the Kentucky Downs, KDP and KDMI Motion for Summary Judgment. All parties appeared before the Simpson County Court and oral arguments were heard. On October 31, 2013, the Simpson County Court entered an Order Denying Petitioners’ (Kentucky Downs Management Inc. et al.) Motion for Summary Judgment. The case will now move forward through discovery and to trial. No trial date has been set.
	Texas Pari-Mutuel Wagering
	On September 21, 2012, the Company filed a lawsuit in the United States District Court for the Western District of Texas styled Churchill Downs Incorporated; Churchill Downs Technology Initiatives Company d/b/a TwinSpires.com v. Chuck Trout, in his official capacity as Executive Director of the Texas Racing Commission; Gary P. Aber, Susan Combs, Ronald F. Ederer, Gloria Hicks, Michael F. Martin, Allan Polunsky, Robert Schmidt, John T. Steen III, Vicki Smith Weinberg, in their official capacity as members of the Texas Racing Commission (Case No. 1:12-cv-00880-LY) challenging the constitutionality of a Texas law requiring residents of Texas that desire to wager on horseraces to wager in person at a Texas race track. In addition to its complaint, on September 21, 2012, the Company filed a motion for preliminary injunction seeking to enjoin the state from taking any action to enforce the law in question. In response, on October 9, 2012, counsel for the state assured both the Company and the court that the state would not enforce the law in question against the Company without prior notice, at which time the court could then consider the motion for preliminary injunction. On April 15, 2013, both parties filed their opening briefs, and a trial was held on May 2, 2013. On September 23, 2013, the United States District Court for the Western District of Texas ruled against the Company and upheld the Texas law at issue. Subsequently, on September 25, 2013, the Company ceased taking wagers from Texas residents via TwinSpires.com and returned deposited funds to Texas residents. The Company filed a motion for an expedited hearing in the United States Court of Appeals, which was granted on October 17, 2013. The Texas Racing Commission, et. al., filed an appellate brief on December 13, 2013. The Company filed its brief in reply on December 30, 2013. Oral arguments were heard before the United States Court of Appeals for the Fifth Circuit on February 4, 2014, and the Company is awaiting a ruling from the Court.
	There are no other material pending legal proceedings.

Accounting_Pronouncements_Note

Accounting Pronouncements (Notes)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
New Accounting Pronouncements, Policy [Policy Text Block]	'
	NOTE 12 — RECENT ACCOUNTING PRONOUNCEMENTS
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of and represents a strategic shift that has, or will have, a major effect on an entity’s operations and financial results. The revised guidance will become effective for annual fiscal periods beginning after December 15, 2014. The Company has not yet determined whether it will adopt the standard prior to its required effective date.

Basis_Of_Presentation_Policies

Basis Of Presentation (Policies)	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Revenue Recognition	'
	The Company’s revenues and earnings are seasonal in nature, primarily due to its Racing Operations segment. Therefore, revenues and operating results for any interim quarter are generally not indicative of the revenues and operating results for the year and may not be comparable with results for the corresponding period of the previous year. For instance, the Company historically has had fewer live racing days during the first quarter of each year, and the majority of its live racing revenue occurs during the second quarter, with the running of the Kentucky Derby and the Kentucky Oaks. The Company conducted 92 live thoroughbred racing days during the first quarter of 2014, which compares to 56 live thoroughbred racing days during the first quarter of 2013. This increase is primarily due to Calder Race Course conducting 39 live race days during the first quarter of 2014 compared to no live race days during the first quarter of 2013. Furthermore, gaming revenues and earnings have historically been higher during the first quarter due to seasonal revenues from the Company's predominately southern gaming properties.
Discontinued Operations, Policy [Policy Text Block]	'
	During the year ended December 31, 2013, the Company ceased operations of Fight! Magazine, a division of Bluff Media, and its results of operations for the three months ended March 31, 2013 have been reclassified to discontinued operations.
Comprehensive Income	'
	The Company had no other components of comprehensive income and, as such, comprehensive income is the same as net earnings as presented in the accompanying Condensed Consolidated Statements of Comprehensive Income.
Customer Loyalty Programs	'
	The Company’s customer loyalty programs offer incentives to customers who wager at the Company’s racetracks, through its advance deposit wagering platform, TwinSpires.com, or at its gaming facilities. The TSC Elite program is for pari-mutuel wagering at the Company’s racetracks or through TwinSpires.com. The Player’s Club is offered at the Company’s gaming facilities in Louisiana, Florida, Maine and Mississippi. As of both March 31, 2014 and December 31, 2013, the outstanding reward point liabilities were $2.1 million and were included in accrued expenses.
Promotional Allowances	'
	Promotional allowances, which include the Company’s customer loyalty programs, primarily consist of the retail value of complimentary goods and services provided to guests at no charge. The retail value of these promotional allowances is included in gross revenue and then deducted to arrive at net revenue.
	During the three months ended March 31, 2014 and 2013, promotional allowances of $7.6 million and $7.3 million, respectively, were included as a reduction to net revenues. During those periods, Online Business promotional allowances were $2.7 million and $2.4 million, respectively. Gaming promotional allowances were $4.7 million for each period, respectively. Racing Operations promotional allowances were $0.2 million for each period, respectively. The estimated cost of providing promotional allowances included in operating expenses totaled $2.3 million for each of the three months ended March 31, 2014 and 2013

Acquisitions_And_New_Ventures_1

Acquisitions And New Ventures Acquisition and New Ventures (Tables)	3 Months Ended
	Mar. 31, 2014
Acquisitions and New Ventures [Abstract]	'
Business Acquisition, Pro Forma Information [Table Text Block]	'
	The pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that would have occurred had the acquisition of Oxford been consummated at the beginning of 2013 (in thousands, except per common share data):
		Three Months Ended March 31,
		2013
	Net revenues	$	165,477
	Earnings from continuing operations	$	2,508
	Earnings from continuing operations per common share
	Basic:
	Earnings from continuing operations	$	0.14
	Diluted:
	Earnings from continuing operations	$	0.14
	Shares used in computing earnings from continuing operations per common share:
	Basic	17,209
	Diluted	17,828

Investment_in_and_Advances_to_1

Investment in and Advances to Unconsolidated Affiliate (Tables)	3 Months Ended
	Mar. 31, 2014
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]	'
Affiliate Income Statement [Table Text Block]	'
		Three Months Ended
		March 31, 2014			March 31, 2013
	Gaming revenue	$	31,163		$	—
	Non-gaming revenue	1,631			1,441
	Net revenues	32,794			1,441
	Operating and SG&A expenses	24,211			1,553
	Depreciation & amortization expenses	3,367			23
	Pre-opening expenses	54			460
	Operating income (loss)	5,162			(595		)
	Interest and other expenses, net	(1,080		)	—
	Net income (loss)	$	4,082		$	(595	)
Affiliate Balance Sheet [Table Text Block]	'
	Summarized financial information for MVG is comprised of the following (in thousands):
		March 31, 2014			December 31, 2013
	Assets
	Current assets	$	21,638		$	18,002
	Property and equipment, net	148,083			151,434
	Other assets, net	80,746			80,665
	Total assets	$	250,467		$	250,101
	Liabilities and Members' Equity
	Current liabilities	$	31,785		$	46,966
	Long-term debt	39,223			40,758
	Other liabilities	75			75
	Members' equity	179,384			162,302
	Total liabilities and members' equity	$	250,467		$	250,101
Investments in and Advances to Affiliates [Table Text Block]	'
	The Company's share of MVG's results have been included in our accompanying condensed consolidated financial statements for the three months ended March 31, 2014 and 2013, as follows (in thousands):
		March 31, 2014			31-Mar-13
	Equity in gains (losses) of unconsolidated investments	$	2,041		$	(298	)

Goodwill_And_IndefiniteLived_I1

Goodwill And Indefinite-Lived Intangible Assets Impairment Test (Tables)	3 Months Ended
	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Indefinite and Finite Lived Assets	'
		March 31, 2014							December 31, 2013
		Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
	Definite-lived intangible assets	$	76,002	$	(39,024	)	$	36,978	$	76,002	$	(36,196	)	$	39,806
	Indefinite-lived intangible assets	158,343		—			158,343		158,343		—			158,343
	Total	$	234,345	$	(39,024	)	$	195,321	$	234,345	$	(36,196	)	$	198,149

Fair_Value_Of_Assets_And_Liabi1

Fair Value Of Assets And Liabilities (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements, Recurring and Nonrecurring	'
	The following table presents the Company’s assets and liabilities measured at fair value as of March 31, 2014 and December 31, 2013, respectively (in thousands):
		Fair Value
		Hierarchy	March 31,			December 31,
			2014			2013
	Cash equivalents and restricted cash	Level 1	$	31,549		$	36,940
	Contingent consideration liability	Level 3	$	(2,331	)	$	(2,331	)
	Senior Unsecured Notes	Level 2	$	307,500		$	305,250

Earnings_Per_Common_Share_Comp1

Earnings Per Common Share Computations (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted	'
	The following is a reconciliation of the numerator and denominator of the earnings per common share computations (in thousands, except per share data):
		Three Months Ended March 31,
		2014			2013
	Numerator for basic (loss) earnings from continuing operations per common share
	(Loss) earnings from continuing operations	$	(700	)	$	1,089
	Earnings from continuing operations allocated to participating securities	—			(24		)
	Numerator for basic (loss) earnings from continuing operations per common share	$	(700	)	$	1,065
	Numerator for basic (loss) earnings per common share
	Net (loss) earnings	$	(700	)	$	1,058
	Net earnings allocated to participating securities	—			(24		)
	Numerator for basic net (loss) earnings per common share	$	(700	)	$	1,034
	Numerator for diluted (loss) earnings from continuing operations per common share	$	(700	)	$	1,089
	Numerator for diluted (loss) earnings per common share	$	(700	)	$	1,034
	Denominator for net (loss) earnings per common share:
	Basic	17,419			17,209
	Plus dilutive effect of stock options	—			222
	Plus dilutive effect of participating securities	—			397
	Diluted	17,419			17,828
	(Loss) earnings per common share:
	Basic
	Net (loss) earnings	$	(0.04	)	$	0.06
	Diluted
	Net (loss) earnings	$	(0.04	)	$	0.06

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment	'
	The table below presents information about the reported segments for the three months ended March 31, 2014 and 2013 (in thousands):
		Three Months Ended March 31,
		2014			2013
	Net revenues from external customers:
	Churchill Downs	$	2,142		$	2,300
	Arlington	6,122			7,241
	Calder	8,024			2,280
	Fair Grounds	14,291			15,992
	Total Racing Operations	30,579			27,813
	Calder Casino	20,583			20,486
	Fair Grounds Slots	11,784			12,364
	VSI	8,923			9,761
	Harlow's Casino	14,451			15,354
	Oxford Casino	17,519			—
	Riverwalk Casino	13,295			14,124
	Total Gaming	86,555			72,089
	Online Business	46,084			42,916
	Other Investments	3,837			4,902
	Corporate	255			156
	Net revenues from external customers	$	167,310		$	147,876
	Intercompany net revenues:
	Churchill Downs	$	228		$	189
	Arlington	1,017			137
	Calder	356			13
	Fair Grounds	732			833
	Total Racing Operations	2,333			1,172
	Online Business	230			213
	Other Investments	898			902
	Eliminations	(3,461		)	(2,287		)
	Net revenues	$	—		$	—
	Reconciliation of segment Adjusted EBITDA to net (loss) earnings:
	Racing Operations	$	(10,250	)	$	(11,257	)
	Gaming	27,251			21,927
	Online Business	9,950			11,335
	Other Investments	(1,353		)	309
	Total segment Adjusted EBITDA	25,598			22,314
	Corporate Adjusted EBITDA	(1,106		)	(1,177		)
	Insurance recoveries, net of losses	431			375
	Share-based compensation expense	(5,241		)	(3,363		)
	Pre-opening expenses	(27		)	(230		)
	MVG interest expense, net	(540		)	—
	Depreciation and amortization	(15,284		)	(15,035		)
	Interest income (expense), net	(4,969		)	(1,466		)
	Income tax benefit (provision)	438			(329		)
	(Loss) earnings from continuing operations	(700		)	1,089
	Discontinued operations, net of income taxes	—			(31		)
	Net (loss) earnings and comprehensive income	$	(700	)	$	1,058
Reconciliation of Assets from Segment to Consolidated	'
	The table below presents equity in earnings (losses) of unconsolidated investments included in the Company’s reported segments for the three months ended March 31, 2014 and 2013 (in thousands):
		Three Months Ended March 31,
		2014			2013
	Gaming	$	2,041		$	(298	)
	Online Business	220			109
	Other Investments	29			25
		$	2,290		$	(164	)
	The table below presents total capital expenditures for the reported segments for the three months ended March 31, 2014 and 2013 (in thousands):
		Three Months Ended March 31,
		2014			2013
	Capital expenditures:
	Racing Operations	$	14,037		$	5,002
	Gaming	2,250			6,426
	Online Business	1,592			1,985
	Other Investments	2,290			281
		$	20,169		$	13,694
	The table below presents total assets for the reported segments (in thousands):
		March 31, 2014			December 31, 2013
	Total assets:
	Racing Operations	$	507,807		$	513,345
	Gaming	621,710			622,038
	Online Business	189,746			186,621
	Other Investments	31,820			30,257
		$	1,351,083		$	1,352,261

Basis_Of_Presentation_Details

Basis Of Presentation (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	D	D
Promotional Allowance [Line Items]	'	'	'
Live Racing Days	92	56	'
Promotional Allowances	$7,626,657	$7,300,000	'
Estimated Cost Of Providing Promotional Allowances	2,312,272	2,345,572	'
Customer Loyalty Program Liability, Current	2,100,000	'	2,100,000
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	100,000	100,000	'
Racing Operations Segment [Member]	'	'	'
Promotional Allowance [Line Items]	'	'	'
Promotional Allowances	150,000	163,250	'
Online Operations	'	'	'
Promotional Allowance [Line Items]	'	'	'
Promotional Allowances	2,744,066	2,378,827	'
Gaming Segment [Member]	'	'	'
Promotional Allowance [Line Items]	'	'	'
Promotional Allowances	$4,732,591	$4,716,674	'

Acquisitions_And_New_Ventures_2

Acquisitions And New Ventures Acquisitions And New Ventures (Details) (USD $)	3 Months Ended			3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014	Jul. 17, 2013
			Miami Valley Gaming and Racing [Member]	Oxford Acquisition [Member]	Oxford Acquisition [Member]
			sqft		SlotMachines
					sqft
					Tables
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Future Business Acquisition, Cost Of Acquired Entity, Purchase Price	'	'	'	'	$168,600,000
Square footage of Casino	'	'	186,000	'	25,000
Revenues	0	0	'	17,500,000	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	($1,138,000)	$1,418,000	'	$2,500,000	'
Number Slot Machines	'	'	'	'	800
Number of Tables Games	'	'	'	'	22

Acquisitions_And_New_Ventures_3

Acquisitions And New Ventures Pro Forma Information (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2013
Business Acquisition [Line Items]	'
Net revenues	$165,477
Earnings from continuing operations	$2,508
Earnings from continuing operations, Basic	$0.14
Earnings from continuing operations, Diluted	$0.14
Basic	17,209
Diluted	17,828

Natural_Disasters_Details

Natural Disasters (Details) (Churchill Downs, Hail [Member], USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2012
Churchill Downs | Hail [Member]	'	'
Business Interruption Loss [Line Items]	'	'
Insurance Deductible	'	$0.50
Insurance Settlements, Partial Settlement Received	'	0.6
Insurance Settlements, Cash Settlement Received	0.4	1.5
Unusual or Infrequent Item, Net of Insurance Proceeds	$0.40	'

Investment_in_and_Advances_to_2

Investment in and Advances to Unconsolidated Affiliate (Details) (USD $)

3 Months Ended

0 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 21, 2012

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Dec. 21, 2012

Dec. 21, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 21, 2012

Miami Valley Gaming and Racing [Member]

Miami Valley Gaming and Racing [Member]

Miami Valley Gaming and Racing [Member]

Miami Valley Gaming and Racing [Member]

Funded at Closing [Member]

Notes Payable, Other Payables [Member]

Maximum

Minimum

License Fee Payable [Member]

mi

sqft

Miami Valley Gaming and Racing [Member]

Miami Valley Gaming and Racing [Member]

Miami Valley Gaming and Racing [Member]

Miami Valley Gaming and Racing [Member]

Notes Payable, Other Payables [Member]

sqft

acre

terminal

terminal

Miami Valley Gaming and Racing [Member]

acre

Investments in and Advances to Affiliates [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Ownership Percentage

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

Equity Method Investments

'

'

'

'

$60,000,000

'

'

'

$10,000,000

$50,000,000

'

'

$25,000,000

Note Payable, Term

'

'

'

'

'6 years

'

'

'

'

'

'

'

'

Equity Method Investments, Contingent Payable

'

'

'

'

10,000,000

'

'

'

'

'

'

'

'

Acres

'

'

'

'

'

'

'

120

'

'

'

'

'

Race Track, Length

'

'

'

'

'

0.625

'

'

'

'

'

'

'

Square footage of Casino

'

'

'

'

'

'

'

186,000

'

'

'

'

'

Number of Lottery Terminals

'

'

'

'

'

'

'

'

'

'

1,800

1,600

'

Equity Method Investments, Facility Cost

'

'

'

'

'

'

'

212,000,000

'

'

'

'

'

Payments to Acquire Interest in Joint Venture

6,500,000

3,500,000

'

'

'

6,500,000

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Current Assets

21,638,000

'

18,002,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment-Property Plant & Equipment

148,083,000

'

151,434,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Noncurrent Assets

80,746,000

'

80,665,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Assets

250,467,000

'

250,101,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Current Liabilities

31,785,000

'

46,966,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities

39,223,000

'

40,758,000

50,000,000

'

'

'

'

'

'

'

'

'

Investment Affiliate-Other Liabilities

75,000

'

75,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment Summarized Financial Information, Equity

179,384,000

'

162,302,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Liabilities and Equity

250,467,000

'

250,101,000

'

'

'

'

'

'

'

'

'

'

Equity Method Investment-Gaming Revenue

31,163,000

0

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment-Non-Gaming Revenue

1,631,000

1,441,000

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Revenue

32,794,000

1,441,000

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment-Expenses

24,211,000

1,553,000

'

'

'

'

'

'

'

'

'

'

'

Equity Method, Depreciation & Amortization

3,367,000

23,000

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment-Pre-Opening Expenses

54,000

460,000

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment Operating Income Loss

5,162,000

-595,000

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment-Interest

-1,080,000

0

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Summarized Financial Information, Net Income (Loss)

4,082,000

-595,000

'

'

'

'

'

'

'

'

'

'

'

Equity in (gain) loss of unconsolidated investments

($2,290,000)

$164,000

'

'

'

($2,041,000)

$298,000

'

'

'

'

'

'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Oct. 04, 2012
Income Tax Contingency [Line Items]	'	'	'
Effective Income Tax Rate, Continuing Operations	38.00%	23.00%	'
Other Assets	'	'	$2.90
Accrued interest epense related to unrecognized income tax benefits	0.1	'	'
Gross unrecognized tax benefits	0.6	'	'
Total amount of unrecognized tax benefits, if recognized, would affect the effective tax rate	$0.50	'	'

Goodwill_And_IndefiniteLived_I2

Goodwill And Indefinite-Lived Intangible Assets Impairment Test - Intangible Assets (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Goodwill [Line Items]	'	'
Definite-lived intangible assets, gross carrying amount	$76,002	$76,002
Definite-lived intangible assets, accumulated amortization	-39,024	-36,196
Intangible Assets, Net (Excluding Goodwill)	195,321	198,149
Definite-lived intangible assets, net book value	36,978	39,806
Indefinite-lived intangible assets, gross carrying value	158,343	158,343
Intangible Assets Excluding Goodwill, Gross	$234,345	$234,345

Fair_Value_Of_Assets_And_Liabi2

Fair Value Of Assets And Liabilities (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long-term debt, net of current maturities	$365,750	$369,191
Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long-term Debt, Fair Value	307,500	305,250
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Cash equivalents and restricted cash	31,549	36,940
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Contingent consideration liability	-2,331	-2,331
Unsecured Debt [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long-term debt, net of current maturities	$300,000	'

Longterm_Incentive_Plan_Detail

Long-term Incentive Plan (Details) (USD $)	3 Months Ended		12 Months Ended		3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 21, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	29-May-13	29-May-13
					Omnibus Stock Incentive Plans, 2007 New LTIP [Member]	Common Stock [Member]	Common Stock [Member]	Performance-Based Awards [Member]	Non-Executive Officers [Member]	Executive Officers [Member]
						Minimum [Member]	Maximum	Restricted Stock [Member]
								Churchill 2004 and 2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	'	'	155,000	92,000	'	'	'	'	14,000	141,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	'	'	'	'	'	'	'	324,000	'	'
Trading Days	'	'	'20	'	'	'	'	'	'	'
Allocated Share-based Compensation Expense	$5,241,000	$3,363,000	'	'	$4,300,000	'	'	'	'	'
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options	2,400,000	'	'	'	'	'	'	'	'	'
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$4,400,000	'	'	'	'	'	'	'	'	'
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plan	'	'	'	'	'	'2 months	'26 months	'	'	'

Earnings_Per_Common_Share_Comp2

Earnings Per Common Share Computations (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	500,000	'
Earnings from continuing operations	($700)	$1,089
Participating Securities, Distributed and Undistributed Earnings	0	-24
Numerator for basic earnings from continuing operations per common share	-700	1,065
Net earnings	-700	1,058
Net earnings allocated to participating securities	0	-24
Numerator for basic net earnings per common share	-700	1,034
Income Loss From Continuing Operations, Diluted	-700	1,089
Net Income (Loss) Available to Common Stockholders, Diluted	($700)	$1,034
Earnings Per Share, Basic and Diluted [Abstract]	'	'
Basic (in shares)	17,419,000	17,209,000
Plus dilutive effect of stock options (in shares)	0	222,000
Plus dilutive effect of participating securities (in shares)	0	397,000
Diluted (in shares)	17,419,000	17,828,000
Net earnings (in dollars per share), Basic	($0.04)	$0.06
Net earnings (in dollars per share), Diluted	($0.04)	$0.06

Segment_Information_Informatio

Segment Information - Information About Reported Segments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	Segments
Segment Reporting Information [Line Items]	'	'
Income (Loss) from Equity Method Investments	$2,290	($164)
Number of Operating Segments	4	'
Net revenues from external customers	167,310	147,876
Intercompany net revenues	0	0
Adjusted Segment EBITDA	25,598	22,314
Adjusted Corporate EBITDA	-1,106	-1,177
Insurance Recoveries, Net of Losses	431	375
Allocated Share-based Compensation Expense	-5,241	-3,363
Pre-Opening Costs	-27	-230
MVG interest expense, net	-540	0
Depreciation and Amortization	-15,284	-15,035
Interest Income (Expense), Net	-4,969	-1,466
Income tax benefit (provision)	438	-329
(Loss) earnings from continuing operations	-700	1,089
Discontinued operations, net of income taxes	0	-31
Net (loss) earnings and comprehensive income	-700	1,058
Arlington Park	'	'
Segment Reporting Information [Line Items]	'	'
Number Of Off Track Betting Palors	11	'
Fair Grounds	'	'
Segment Reporting Information [Line Items]	'	'
Number Of Off Track Betting Palors	12	'
Racing Operations Segment [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	30,579	27,813
Intercompany net revenues	2,333	1,172
Adjusted Segment EBITDA	-10,250	-11,257
Racing Operations Segment [Member] | Churchill Downs	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	2,142	2,300
Intercompany net revenues	228	189
Racing Operations Segment [Member] | Arlington Park	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	6,122	7,241
Intercompany net revenues	1,017	137
Racing Operations Segment [Member] | Calder	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	8,024	2,280
Intercompany net revenues	356	13
Racing Operations Segment [Member] | Fair Grounds	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	14,291	15,992
Intercompany net revenues	732	833
Gaming Segment [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Income (Loss) from Equity Method Investments	2,041	-298
Net revenues from external customers	86,555	72,089
Adjusted Segment EBITDA	27,251	21,927
Gaming Segment [Member] | Calder Casinos	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	20,583	20,486
Gaming Segment [Member] | Fair Grounds Slots	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	11,784	12,364
Gaming Segment [Member] | VSI	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	8,923	9,761
Gaming Segment [Member] | Harlows Casino	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	14,451	15,354
Gaming Segment [Member] | Oxford Acquisition [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	17,519	0
Gaming Segment [Member] | Riverwalk Casino	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	13,295	14,124
Online Operations	'	'
Segment Reporting Information [Line Items]	'	'
Income (Loss) from Equity Method Investments	220	109
Net revenues from external customers	46,084	42,916
Intercompany net revenues	230	213
Adjusted Segment EBITDA	9,950	11,335
Intersegment Elimination	'	'
Segment Reporting Information [Line Items]	'	'
Intercompany net revenues	-3,461	-2,287
Other Investments Segment [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Income (Loss) from Equity Method Investments	29	25
Net revenues from external customers	3,837	4,902
Intercompany net revenues	898	902
Adjusted Segment EBITDA	-1,353	309
Corporate	'	'
Segment Reporting Information [Line Items]	'	'
Net revenues from external customers	$255	$156

Segment_Information_Equity_in_

Segment Information - Equity in Earnings (Losses) of Unconsolidated Investments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'
Equity in (gain) loss of unconsolidated investments	($2,290)	$164
Gaming Segment [Member]	'	'
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'
Equity in (gain) loss of unconsolidated investments	-2,041	298
Online Operations	'	'
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'
Equity in (gain) loss of unconsolidated investments	-220	-109
Other Investments Segment [Member]	'	'
Segment Reporting, Other Significant Reconciling Item [Line Items]	'	'
Equity in (gain) loss of unconsolidated investments	($29)	($25)

Segment_Information_Total_Asse

Segment Information - Total Asset Information For Segments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'
Total assets	$1,351,083	'	$1,352,261
Capital expenditures	20,169	13,694	'
Racing Operations Segment [Member]	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'
Total assets	507,807	'	513,345
Capital expenditures	14,037	5,002	'
Gaming Segment [Member]	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'
Total assets	621,710	'	622,038
Capital expenditures	2,250	6,426	'
Online Operations	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'
Total assets	189,746	'	186,621
Capital expenditures	1,592	1,985	'
Other Investments Segment [Member]	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'
Total assets	31,820	'	30,257
Capital expenditures	$2,290	$281	'

Commitments_And_Contingencies_

Commitments And Contingencies - Loss Contingencies (Details) (USD $)	Oct. 04, 2012
In Millions, unless otherwise specified
Loss Contingencies [Line Items]	'
Other Assets	$2.90