Churchill Downs (CHDN) 10-Q 29 Jul 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Jul. 15, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-33998
Entity Registrant Name	Churchill Downs Inc
Entity Incorporation, State or Country Code	KY
Entity Tax Identification Number	61-0156015
Entity Address, Address Line One	600 North Hurstbourne Parkway, Suite 400
Entity Address, City or Town	Louisville,
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40222
City Area Code	502
Local Phone Number	636-4400
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	CHDN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		39,434,148
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000020212
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net revenue:
Total net revenue	$ 185.1	$ 477.4	$ 438	$ 742.8
Operating expense:
Selling, general and administrative expense	22.4	30.1	46.5	55
Impairment of intangible assets	0	0	17.5	0
Transaction expense, net	0.2	0.6	0.5	4.1
Total operating expense	185.5	321	450	558.4
Operating (loss) income	(0.4)	156.4	(12)	184.4
Other income (expense):
Interest expense, net	(20.3)	(19.4)	(39.6)	(33.1)
Equity in (loss) income of unconsolidated affiliates	(11.1)	9.5	(14.4)	13.6
Miscellaneous, net	0.3	0.4	0.3	0.4
Total other expense	(31.1)	(9.5)	(53.7)	(19.1)
(Loss) income from continuing operations before provision for income taxes	(31.5)	146.9	(65.7)	165.3
Income tax benefit (provision)	7.9	(38.6)	19.5	(45.1)
(Loss) income from continuing operations, net of tax	(23.6)	108.3	(46.2)	120.2
Loss from discontinued operations, net of tax	(95.2)	(1.2)	(96.1)	(1.5)
Net (loss) income	(118.8)	107.1	(142.3)	118.7
Net loss attributable to noncontrolling interest	0	0	(0.1)	0
Net (loss) income and comprehensive (loss) income attributable to CDI	$ (118.8)	$ 107.1	$ (142.2)	$ 118.7
Net (loss) income per common share data, basic:
Continuing operations (in dollars per share)	$ (0.59)	$ 2.69	$ (1.16)	$ 2.99
Discontinued operations (in dollars per share)	(2.41)	(0.03)	(2.43)	(0.04)
Net (loss) income per common share data - basic (in dollars per share)	(3)	2.66	(3.59)	2.95
Net (loss) income per common share data, diluted:
Continuing operations (in dollars per share)	(0.59)	2.66	(1.16)	2.96
Discontinued operations (in dollars per share)	(2.41)	(0.03)	(2.43)	(0.04)
Net (loss) income per common share data - diluted (in dollars per share)	$ (3)	$ 2.63	$ (3.59)	$ 2.92
Weighted average shares outstanding:
Basic (in shares)	39.5	40.1	39.6	40.3
Diluted (in shares)	39.5	40.7	39.6	40.7
Churchill Downs
Net revenue:
Churchill Downs			$ 46.8	$ 203.2
Total net revenue	$ 23.3	$ 182.2
Operating expense:
Operating expense	31.1	73.6	57.7	97
Online Wagering
Net revenue:
Online Wagering			188.5	158.7
Total net revenue	121.2	95.6
Operating expense:
Operating expense	74.6	62	124.7	107.1
Gaming
Net revenue:
Gaming			184.9	346.4
Total net revenue	37.3	177.6
Operating expense:
Operating expense	45.6	133.2	170.4	258.2
All Other
Net revenue:
All Other			17.8	34.5
Total net revenue	3.3	22
Operating expense:
Operating expense	$ 11.6	$ 21.5	$ 32.7	$ 37

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 649,200	$ 96,200
Restricted cash	49,800	46,300
Accounts receivable, net	47,500	37,300
Income taxes receivable	36,800	14,500
Other current assets	34,400	26,900
Total current assets	817,700	221,200
Property and equipment, net	1,043,200	937,300
Investment in and advances to unconsolidated affiliates	615,400	634,500
Goodwill	366,800	367,100
Other intangible assets, net	350,800	369,800
Other assets	22,100	21,100
Total assets	3,216,000	2,551,000
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	105,800	57,800
Accrued expenses and other current liabilities	164,600	173,400
Current deferred revenue	89,800	42,500
Current maturities of long-term debt	4,000	4,000
Dividends payable	0	23,500
Current liabilities of discontinued operations	124,000	0
Total current liabilities	488,200	301,200
Long-term debt, net of current maturities and loan origination fees	1,077,100	384,000
Notes payable, net of debt issuance costs	1,086,800	1,085,900
Non-current deferred revenue	15,100	16,700
Deferred income taxes	188,000	212,800
Other liabilities	38,100	39,400
Total liabilities	2,893,300	2,040,000
Commitments and contingencies
Shareholders' equity:
Preferred stock	0	0
Common stock	6,100	0
Retained earnings	314,900	509,200
Accumulated other comprehensive loss	(900)	(900)
Total shareholders' equity	320,100	508,300
Noncontrolling interest	2,600	2,700
Total shareholders' equity	322,700	511,000
Total liabilities and shareholders' equity	$ 3,216,000	$ 2,551,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASC 842	$ 473.3	$ (0.3)	$ 0	$ 474.2	$ (0.3)	$ (0.9)	$ 0
Shares outstanding, beginning (in shares) at Dec. 31, 2018			40.4
Shareholders' equity, beginning at Dec. 31, 2018	473.3	(0.3)	$ 0	474.2	(0.3)	(0.9)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	11.6			11.6
Issuance of common stock (in shares)			0.1
Repurchase of common stock (in shares)			(0.3)
Repurchase of common stock	(25)		$ (4.7)	(20.3)
Taxes paid related to net share settlement of stock awards (in shares)			(0.1)
Taxes paid related to net share settlement of stock awards	(7.6)			(7.6)
Issuance of restricted stock awards, net of forfeitures (in shares)			0.1
Stock-based compensation	4.7		$ 4.7
Adoption of ASC 842	456.9	(0.3)	$ 0	457.8	(0.3)	(0.9)	0
Other	0.2			0.2
Shares outstanding, ending (in shares) at Mar. 31, 2019			40.2
Shareholders' equity, ending at Mar. 31, 2019	456.9		$ 0	457.8		(0.9)	0
Shares outstanding, beginning (in shares) at Dec. 31, 2018			40.4
Shareholders' equity, beginning at Dec. 31, 2018	473.3	(0.3)	$ 0	474.2	(0.3)	(0.9)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	118.7
Adoption of ASC 842	553.3	(0.3)	$ 2.9	551.3	(0.3)	(0.9)	0
Shares outstanding, ending (in shares) at Jun. 30, 2019			40
Shareholders' equity, ending at Jun. 30, 2019	553.3		$ 2.9	551.3		(0.9)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASC 842	456.9		$ 0	457.8		(0.9)	0
Shares outstanding, beginning (in shares) at Mar. 31, 2019			40.2
Shareholders' equity, beginning at Mar. 31, 2019	456.9		$ 0	457.8		(0.9)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	107.1			107.1
Repurchase of common stock (in shares)			(0.2)
Repurchase of common stock	(18)		$ (4.4)	(13.6)
Stock-based compensation	7.4		7.4
Adoption of ASC 842	553.3		2.9	551.3		(0.9)	0
Other	(0.1)		$ (0.1)
Shares outstanding, ending (in shares) at Jun. 30, 2019			40
Shareholders' equity, ending at Jun. 30, 2019	553.3		$ 2.9	551.3		(0.9)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASC 842	553.3		2.9	551.3		(0.9)	0
Adoption of ASC 842	511	(0.5)	$ 0	509.2	(0.5)	(0.9)	2.7
Shares outstanding, beginning (in shares) at Dec. 31, 2019			39.7
Shareholders' equity, beginning at Dec. 31, 2019	511	(0.5)	$ 0	509.2	(0.5)	(0.9)	2.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(23.5)			(23.4)			(0.1)
Repurchase of common stock (in shares)			(0.3)
Repurchase of common stock	(27.9)		$ (4.3)	(23.6)
Cash settlement of stock awards	(12.7)			(12.7)
Taxes paid related to net share settlement of stock awards	(15.1)			(15.1)
Stock-based compensation	4.3		4.3
Adoption of ASC 842	435.6	(0.5)	$ 0	433.9	(0.5)	(0.9)	2.6
Shares outstanding, ending (in shares) at Mar. 31, 2020			39.4
Shareholders' equity, ending at Mar. 31, 2020	435.6		$ 0	433.9		(0.9)	2.6
Shares outstanding, beginning (in shares) at Dec. 31, 2019			39.7
Shareholders' equity, beginning at Dec. 31, 2019	511	(0.5)	$ 0	509.2	(0.5)	(0.9)	2.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(142.3)
Adoption of ASC 842	322.7	$ (0.5)	$ 6.1	314.9	$ (0.5)	(0.9)	2.6
Shares outstanding, ending (in shares) at Jun. 30, 2020			39.4
Shareholders' equity, ending at Jun. 30, 2020	322.7		$ 6.1	314.9		(0.9)	2.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASC 842	435.6		$ 0	433.9		(0.9)	2.6
Shares outstanding, beginning (in shares) at Mar. 31, 2020			39.4
Shareholders' equity, beginning at Mar. 31, 2020	435.6		$ 0	433.9		(0.9)	2.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(118.8)			(118.8)
Stock-based compensation	6.1		6.1
Adoption of ASC 842	322.7		$ 6.1	314.9		(0.9)	2.6
Other	(0.2)			(0.2)
Shares outstanding, ending (in shares) at Jun. 30, 2020			39.4
Shareholders' equity, ending at Jun. 30, 2020	322.7		$ 6.1	314.9		(0.9)	2.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASC 842	$ 322.7		$ 6.1	$ 314.9		$ (0.9)	$ 2.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net (loss) income	$ (142.3)	$ 118.7
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	44.1	42.3
Distributions from unconsolidated affiliates	4.8	11.5
Equity in loss (income) of unconsolidated affiliates	14.4	(13.6)
Stock-based compensation	10.4	12.1
Deferred income taxes	(24.8)	12.1
Impairment of intangible assets	17.5	0
Amortization of operating lease assets	2.5	2.2
Other	1.8	1.1
Changes in operating assets and liabilities, net of business acquisitions and dispositions:
Income taxes	(22.4)	31.9
Deferred revenue	43.5	(36.9)
Other assets and liabilities	127.4	32.9
Net cash provided by operating activities	76.9	214.3
Cash flows from investing activities:
Capital maintenance expenditures	(13.2)	(26.2)
Capital project expenditures	(118.1)	(32.6)
Acquisition of businesses, net of cash acquired	0	(172.1)
Investments in and advances to unconsolidated affiliates	0	(410.1)
Distributions of capital from unconsolidated affiliates	0	8.1
Acquisition of gaming licenses	0	(22.1)
Other	(0.5)	1.1
Net cash used in investing activities	(131.8)	(653.9)
Cash flows from financing activities:
Proceeds from borrowings under long-term debt obligations	726.1	1,235.3
Repayments of borrowings under long-term debt obligations	(33.4)	(637.3)
Payment of dividends	(23.4)	(22.2)
Repurchase of common stock	(28.4)	(45.5)
Cash settlement of stock awards	(12.7)	0
Taxes paid related to net share settlement of stock awards	(15.1)	(7.6)
Debt issuance costs	(1.7)	(8.6)
Other	0	(2.3)
Net cash provided by financing activities	611.4	511.8
Net increase in cash, cash equivalents and restricted cash	556.5	72.2
Cash, cash equivalents and restricted cash, beginning of period	142.5	173.3
Cash, cash equivalents and restricted cash, end of period	699	245.5
Supplemental disclosures of cash flow information:
Interest	39.7	23.6
Income taxes	0.7	1.3
Schedule of non-cash investing and financing activities:
Deferred tax liability assumed from equity investment	0	103.2
Property and equipment additions included in accounts payable and accrued expenses	$ 28.1	$ 6.8

Description of Business

Description of Business	Mar. 05, 2019
Basis of Presentation [Abstract]
Description of Business	DESCRIPTION OF BUSINESS Basis of Presentation The Churchill Downs Incorporated (the "Company", "we", "us", "our") financial statements are presented in conformity with the requirements of this Quarterly Report on Form 10-Q and consequently do not include all of the disclosures normally required by U.S. generally accepted accounting principles ("GAAP") or those normally made in our Annual Report on Form 10-K. The December 31, 2019 condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The following information is unaudited. All per share amounts assume dilution unless otherwise noted. This report should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019. 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. We conduct our business through three reportable segments: Churchill Downs, Online Wagering, and Gaming. We aggregate our other businesses as well as certain corporate operations, and other immaterial joint ventures, in All Other. We report net revenue and operating expense associated with these reportable segments in the accompanying condensed consolidated statements of comprehensive income. Impact of COVID-19 Pandemic In March 2020, the World Health Organization declared the COVID-19 outbreak a global pandemic. Considerable uncertainty still surrounds the COVID-19 virus and its potential effects, and the extent of and effectiveness of responses taken on international, national and local levels. Measures taken to limit the impact of COVID-19, including shelter-in-place orders, social distancing measures, travel bans and restrictions, and business and government shutdowns, have resulted and continue to result in significant negative economic impacts in the United States and in relation to our business. The long-term impact of COVID-19 on the United States and world economies and continuing impact on our business remains uncertain, the duration and scope of which cannot currently be predicted. In response to the measures taken to limit the impact of COVID-19 described above, and for the protection of our employees, customers, and communities, we temporarily suspended operations at our properties in March 2020. In May 2020, we began to reopen our properties with patron capacity limitations and gaming restrictions. We also implemented other initiatives to facilitate social distancing and enhanced cleaning, such as increased frequency of cleaning and sanitizing of all high-touch surfaces, mandatory temperature checks of all guests and team members upon entry and required training for all team members on safety protocols. Certain amenities at our properties have continued to be suspended, including all of our food buffets and valet services, and certain restaurants and food outlets. Below is a summary of the temporary closures or suspended operations and the current status of each property: Churchill Downs • Churchill Downs Racetrack conducted 27 spectator-free live racing days from May 16, 2020 through June 28, 2020. Churchill Downs Racetrack suspended simulcast operations on March 15, 2020 and such operations currently remain closed. • Derby City Gaming temporarily suspended operations on March 15, 2020 and reopened on June 8, 2020. Derby City Gaming is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its gaming capacity to approximately 66%. Gaming Wholly-Owned Properties • Calder Casino and Racing ("Calder") temporarily suspended operations on March 16, 2020 and reopened on June 12, 2020. Operations were temporarily suspended again on July 2, 2020 following a Miami-Dade Emergency Order issued by the county's mayor to close all entertainment venues in Miami-Dade county. • Fair Grounds Slots, Fair Grounds Race Course and Video Services, LLC ("VSI") (collectively, "Fair Grounds and VSI"): ◦ Fair Grounds Slots temporarily suspended operations on March 16, 2020 and reopened on June 13, 2020. Fair Grounds Slots is currently restricted to 25% patron capacity and has implemented social distancing measures, which has limited its gaming capacity to approximately 50%; ◦ Fair Grounds Race Course conducted spectator-free live racing from March 13, 2020 through March 21, 2020 and did not have any live race days during the second quarter of 2020; and ◦ VSI temporarily suspended operations on March 16, 2020 and reopened on May 18, 2020. VSI is currently restricted to 50% patron capacity and has implemented social distancing measures, which has limited its gaming capacity to approximately 70%. • Harlow's Casino Resort and Spa ("Harlow's") temporarily suspended operations on March 16, 2020 and reopened on May 21, 2020. Harlow’s is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its slot gaming capacity to approximately 66% and its table games capacity to approximately 60%. • Ocean Downs Casino and Racetrack ("Ocean Downs") temporarily suspended operations on March 15, 2020 and reopened on June 19, 2020. Ocean Downs is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its video lottery terminals ("VLTs") capacity to approximately 70% and its table game capacity to approximately 60%. • Oxford Casino and Hotel ("Oxford") temporarily suspended operations on March 16, 2020 and reopened on July 9, 2020. Oxford is currently restricted to 200 persons on the gaming floor and only allows slot gaming. • Presque Isle Downs and Casino ("Presque Isle") temporarily suspended operations on March 16, 2020 and reopened on June 26, 2020. Presque Isle is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its slot gaming capacity to approximately 60% and its table game capacity to approximately 60%. • Riverwalk Casino Hotel ("Riverwalk") temporarily suspended operations on March 16, 2020 and reopened on May 21, 2020. Riverwalk is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its slot gaming capacity to approximately 66% and its table games capacity to approximately 60%. Managed Properties • Lady Luck Casino Nemacolin ("Lady Luck Nemacolin") temporarily suspended operations on March 16, 2020 and reopened on June 12, 2020. Lady Luck Nemacolin is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its slot gaming capacity to approximately 50% and its table game capacity to approximately 60%. Equity Investments • Rivers Casino Des Plaines ("Rivers Des Plaines") temporarily suspended operations on March 15, 2020 and reopened on July 1, 2020. Rivers Des Plaines is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its slot gaming capacity to approximately 66% and its table games capacity to approximately 60%. • Miami Valley Gaming and Racing ("MVG") temporarily suspended operations on March 14, 2020 and reopened on June 19, 2020. MVG is currently restricted to 50% of patron capacity and has implemented social distancing measures, which has limited its VLT capacity to approximately 50%. All Other • Arlington International Racecourse ("Arlington") temporarily suspended operations of its off-track betting facilities ("OTBs") and simulcast operations on March 16, 2020. Four OTBs reopened on June 5, 2020 and the remaining OTBs reopened on various dates in July 2020. Arlington is scheduled to conduct 30 spectator-free live racing days from July 23, 2020 through September 26, 2020. • Turfway Park conducted nine live racing days from March 12, 2020 through March 21, 2020 and five of these live racing days were run spectator-free. Live racing was canceled for the remaining three scheduled racing days in March 2020. Turfway Park did not have any race days scheduled in the second quarter of 2020. On March 25, 2020, as a result of the temporary closures and suspended operations described above, the Company announced the temporary furlough of employees at its wholly-owned and managed gaming properties and certain racing operations. As the Company has reopened these properties, certain employees have returned to work while others remain on temporary furlough due to the capacity restrictions at these properties. The Company is providing health, dental, vision and life insurance benefits to furloughed employees through July 31, 2020. The Company also implemented a temporary salary reduction for all remaining non-furloughed salaried employees based on a percentage that varies dependent upon the amount of each employee’s salary. The most senior level of executive management has received the largest salary decrease, based on both percentage and dollar amount. Salaries for non-furloughed employees will resume at the annual base salary beginning with their start of the employee's first full pay period subsequent to July 31, 2020. There have been a number of other aspects of our business that have been impacted by COVID-19 during the three and six months ended June 30, 2020, including the following: • The Company rescheduled the 146th Kentucky Oaks and Derby from May 1-2, 2020 to September 4-5, 2020. On June 24, 2020, the Company received approval from the Governor of Kentucky and state public health officials for its plan to allow limited spectators to attend the Kentucky Derby week events held September 1-5, 2020. • Horse racing content for wagering on our TwinSpires business ("TwinSpires") decreased, although handle increased as our customers wagered more on the content that was available. • Starting in mid-February 2020, U.S. and international sporting events were cancelled, which reduced sports betting content for our customers. Financial Status and Outlook The Company has temporarily reduced its planned maintenance and project capital expenditures for 2020 as a result of the temporary property and operations closures and has prioritized its capital investments based on the highest near-term return opportunities in order to maintain financial flexibility. On March 16, 2020, we borrowed $675.4 million on our revolving credit facility (the "Revolver") pursuant to the Credit Agreement (defined below) to provide the Company with additional financial flexibility, which provided the Company with $649.2 million of cash and cash equivalents as of June 30, 2020. On April 28, 2020, the Company entered into a Second Amendment to its Credit Agreement, which (i) provides for a financial covenant relief period through the date on which the Company delivers its quarterly financial statements and compliance certificate for the fiscal quarter ending June 30, 2021, subject to certain exceptions (the “Financial Covenant Relief Period”), (ii) amends the definition of “Consolidated EBITDA” in the Credit Agreement with respect to the calculation of Consolidated EBITDA for the first two fiscal quarters after the termination of the Financial Covenant Relief Period, (iii) extends certain deadlines and makes certain other amendments to the Company’s financial reporting obligations, (iv) places certain restrictions on restricted payments during the Financial Covenant Relief Period, and (v) amends the definitions of “Material Adverse Effect” and “License Revocation” in the Credit Agreement to take into consideration COVID-19. During the Financial Covenant Relief Period, the Company will not be required to comply with the consolidated total secured net leverage ratio financial covenant and the interest coverage ratio financial covenant. The Company has agreed to a minimum liquidity financial covenant that requires the Company and its restricted subsidiaries to maintain liquidity of at least $150.0 million during the Financial Covenant Relief Period. We continue to assess the situation at our properties and operations on a daily basis; however, we are unable to determine when we will be able to reopen any properties and / or operations that are closed or that may be closed in the future, the conditions upon which we will reopen, and when the current restrictions in place for our opened properties will be removed. Our third quarter of 2020 financial results will be materially impacted by the rescheduling of the Kentucky Oaks and Derby from the second quarter of 2020 to the third quarter of 2020, by the temporary suspended operations at certain properties, and continued restrictions at the properties that have reopened. Based on our current projected operating cash flow needs, interest and debt repayments, and revised maintenance and project capital expenditures, we believe we have adequate cash to fund our business operations, meet all of our financial commitments, and invest in our prioritized key growth capital projects for well beyond the next twelve months. Acquisitions of Presque Isle and Lady Luck Nemacolin On January 11, 2019, we completed the acquisition of Presque Isle located in Erie, Pennsylvania from Eldorado Resorts, Inc. ("ERI") for cash consideration of $178.9 million (the "Presque Isle Transaction") and $1.6 million of working capital and other purchase price adjustments. On March 8, 2019, the Company assumed management and acquired certain assets related to the management of Lady Luck Nemacolin in Farmington, Pennsylvania, from ERI for cash consideration of $100,000 (the "Lady Luck Nemacolin Transaction"). Acquisition of Certain Ownership Interests of Midwest Gaming Holdings, LLC On March 5, 2019, the Company completed the acquisition of certain ownership interests of Midwest Gaming Holdings, LLC ("Midwest Gaming"), the parent company of Rivers Des Plaines in Des Plaines, Illinois to acquire approximately 42% of Midwest Gaming from affiliates and co-investors of Clairvest Group Inc. ("Clairvest") and members of High Plaines Gaming, LLC ("High Plaines"), an affiliate of Rush Street Gaming, LLC and Casino Investors, LLC ("Casino Investors") for cash consideration of approximately $406.6 million and $3.5 million of certain transaction costs and working capital adjustments (the "Sale Transaction"). Following the closing of the Sale Transaction, the parties completed a recapitalization transaction on March 6, 2019 (the "Recapitalization"), pursuant to which Midwest Gaming used approximately $300.0 million in proceeds from amended and extended credit facilities to redeem, on a pro rata basis, additional Midwest Gaming units held by High Plaines and Casino Investors. As a result of the Recapitalization, the Company's ownership of Midwest Gaming increased to 61.3%. High Plaines retained ownership of 36.0% of Midwest Gaming and Casino Investors retained ownership of 2.7% of Midwest Gaming. We also recognized a $103.2 million deferred tax liability and a corresponding increase in our investment in unconsolidated affiliates related to an entity we acquired in conjunction with our acquisition of the Clairvest ownership stake in Midwest Gaming. Refer to Note 14, Investments in and Advances to Unconsolidated Affiliates, for further information on the Midwest Gaming transactions. Turfway Park Acquisition The Company completed the acquisition of Turfway Park from Jack Entertainment LLC ("JACK") and Hard Rock International (“Hard Rock”) on October 9, 2019 for total consideration of $46.0 million in cash ("Turfway Park Acquisition"). Turfway Park is located on 197 acres in Florence, Kentucky. On July 28, 2020, the Company's Board of Directors approved the final design plans for the HRM and grandstand facility at Turfway Park. The final plans reflect a project capital of $200.0 million, which includes the Turfway Park Acquisition costs and other previously approved capital. The 155,000 square foot facility will include a grandstand, sports bar, food offerings, and up to 1,200 historical racing machines. The Turfway Park facility is expected to open in the fourth quarter of 2021. Refer to Note 4, Acquisitions, for further information on the Turfway Park Acquisition. The Company has announced plans and has begun to invest up to $38.4 million for an extension of Turfway Park, to be located in Newport, Kentucky, which will include a simulcast area including a separate VIP simulcast room, a 17,000 square foot gaming floor with 500 historical racing machines and a feature bar. The Company plans to open the extension in the fourth quarter of 2020. Seasonality Churchill Downs Due to the seasonal nature of our live racing business at Churchill Downs Racetrack, revenue 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. Historically, the majority of our live racing revenue occurs during the second quarter with the running of the Kentucky Derby and Kentucky Oaks. Due to the COVID-19 pandemic, the Company rescheduled the 146th Kentucky Oaks and Kentucky Derby from May 1, 2020 and May 2, 2020 to September 4, 2020 and September 5, 2020, respectively. Online Wagering

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncement - Adopted on January 1, 2020 In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses, ("ASC 326") which introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The new model will apply to: (1) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, (2) loan commitments and certain other off-balance sheet credit exposures, (3) debt securities and other financial assets measured at fair value through other comprehensive income, and (4) beneficial interests in securitized financial assets. We adopted ASC 326 on January 1, 2020 using the modified retrospective approach. We recognized the cumulative effect of applying ASC 326 as an opening balance sheet adjustment at January 1, 2020. The comparative information has not been retrospectively adjusted and continues to be reported under the accounting standards in effect for those periods. The adoption of ASC 326 did not have a material impact on our business and therefore we have not included the disclosure requirements of ASC 326 in this Quarterly Report on Form 10-Q. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment. This new guidance simplifies the accounting for goodwill impairments by removing step two from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess. We adopted this guidance on January 1, 2020. The new guidance did not result in a cumulative adjustment upon adoption and there was no impairment recognized under the new guidance for the three or six months ended June 30, 2020.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Except for the accounting policy for the allowance for doubtful accounts receivable described below, which was updated as a result of our adoption of ASC 326 on January 1, 2020, as described in Note 2, Recent Accounting Pronouncements, there have been no changes to our significant accounting policies described in the Annual Report on Form 10-K for the year ended December 31, 2019. Allowance for Doubtful Accounts Receivable

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS Turfway Park On October 9, 2019, the Company completed the Turfway Park Acquisition for total consideration of $46.0 million. Of the total consideration paid, $36.0 million was allocated to JACK and accounted for as a business combination. The remaining $10.0 million was paid to Hard Rock for the assignment of the purchase and sale agreement rights and was accounted for separately from the business combination as an intangible asset and amortized through expense in the fourth quarter of 2019. The cash purchase price paid to JACK was $36.0 million, less $0.9 million of working capital and purchase price adjustments. The preliminary fair values of the assets acquired and liabilities assumed, net of cash acquired of $0.9 million, at the date of acquisition were as follows: property and equipment (primarily land) of $18.8 million, indefinite-lived gaming rights of $9.8 million, indefinite-lived trademark of $5.5 million, goodwill of $2.7 million, and current liabilities of $2.6 million.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONSOn November 29, 2017, the Company entered into a definitive Stock Purchase Agreement (the "Stock Purchase Agreement") to sell its mobile gaming subsidiary, Big Fish Games, Inc. ("Big Fish Games"), a Washington corporation, to Aristocrat Technologies, Inc. ("Aristocrat"), a Nevada corporation, an indirect, wholly owned subsidiary of Aristocrat Leisure Limited, an Australian corporation (the "Big Fish Transaction"). On January 9, 2018, pursuant to the Stock Purchase Agreement, the Company completed the Big Fish Transaction. Aristocrat paid aggregate consideration of $990.0 million in cash in connection with the Big Fish Transaction, subject to customary adjustments for working capital and indebtedness and certain other adjustments as set forth in the Stock Purchase Agreement. The Big Fish Games segment and the related Big Fish Transaction meet the criteria for discontinued operation presentation. The condensed consolidated statements of comprehensive income and the notes to financial statements reflect Big Fish Games as discontinued operations for all periods presented. Unless otherwise specified, disclosures in these condensed consolidated financial statements reflect continuing operations only. The condensed consolidated statements of cash flows include both continuing and discontinued operations. Kater and Thimmegowda Settlement On May 22, 2020, we entered into an agreement in principle to settle Cheryl Kater v. Churchill Downs Incorporated ("Kater litigation") and Manasa Thimmegowda v. Big Fish Games, Inc. (the “Thimmegowda litigation”). The agreement in principle remains contingent on final court approval by the U.S. District Court for the Western District of Washington (the “District Court”). Under the terms of the settlement, which will take effect only after final court approval of the proposed class settlement: (i) a total of $155.0 million will be paid into a settlement fund. CDI will pay $124.0 million pre-tax of the settlement from its available cash; Aristocrat will pay $31.0 million pre-tax of the settlement; (ii) all members of the nationwide settlement class who do not exclude themselves will release all claims relating to the subject matter of the lawsuits; and (iii) Aristocrat has agreed to specifically release CDI of any and all indemnification obligations under the Stock Purchase Agreement arising from or related to the Kater and Thimmegowda litigations, including any claims of diminution of value of Big Fish Games and any claims by any person who opts out of the proposed class settlement. The $124.0 million pre-tax settlement related to the Company is included in loss from discontinued operations, net of tax in the accompanying condensed consolidated statements of comprehensive (loss) income for the three and six months ended June 30, 2020, and on a pre-tax basis in current liabilities of discontinued operations in the accompanying condensed consolidated balance sheets at June 30, 2020. The following table presents the financial results of Big Fish Games included in "loss from discontinued operations, net of tax" in the accompanying condensed consolidated statements of comprehensive (loss) income: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Net revenue $ — $ — $ — $ — Selling, general and administrative expense 0.3 1.6 1.5 2.0 Legal settlement 124.0 — 124.0 — Loss from discontinued operations before provision for income taxes (124.3) (1.6) (125.5) (2.0) Income tax benefit 29.1 0.4 29.4 0.5 Loss from discontinued operations, net of tax $ (95.2) $ (1.2) $ (96.1) $ (1.5)

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill, by segment, is comprised of the following: (in millions) Churchill Downs Online Wagering Gaming All Other Total Balances as of December 31, 2019 $ 49.7 $ 148.2 $ 165.2 $ 4.0 $ 367.1 Adjustments — — — (0.3) (0.3) Balances as of June 30, 2020 $ 49.7 $ 148.2 $ 165.2 $ 3.7 $ 366.8 We performed our annual goodwill impairment analysis as of April 1, 2020. We assessed goodwill for impairment by performing qualitative or quantitative analyses for each reporting unit. Based on the results of these analyses, no goodwill impairments were identified in connection with our annual impairment testing. During the second quarter we recorded an immaterial measurement period adjustment for the Turfway Park acquisition that impacted the All Other goodwill balance. Other intangible assets are comprised of the following: June 30, 2020 December 31, 2019 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Definite-lived intangible assets $ 31.7 $ (16.9) $ 14.8 $ 31.3 $ (15.0) $ 16.3 Indefinite-lived intangible assets 336.0 353.5 Total $ 350.8 $ 369.8 Refer to Note 7, Asset Impairment, for information regarding intangible asset impairments recognized during the first quarter of 2020.

Asset Impairment

Asset Impairment	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Asset Impairment	ASSET IMPAIRMENT During the quarter ended March 31, 2020, the Company evaluated whether events or circumstances changed that would indicate it is more likely than not that any of its intangible assets, goodwill, or property and equipment, were impaired ("Trigger Event"), or if there were any other than temporary impairments of our equity investments. Factors considered in this evaluation included, among other things, the amount of the fair value over carrying value from the annual impairment testing performed as of April 1, 2019, changes in carrying values, changes in discount rates, and the impact of temporary property closures due to the COVID-19 pandemic on cash flows. Based on the Company's evaluation, the Company concluded that a Trigger Event occurred related to the Presque Isle gaming rights, trademark, and the reporting unit's goodwill due to the impact and uncertainty of the COVID-19 pandemic and the recent closing of the Presque Isle Transaction in 2019. The initial fair value of Presque Isle gaming rights in the first quarter of 2019 was determined using the Greenfield Method, which is an income approach methodology that calculates the present value based on a projected cash flow stream. This method assumes that the Presque Isle gaming rights provide the opportunity to develop a casino and online wagering platform in a specified region, and that the present value of the projected cash flows are a result of the realization of advantages contained in these rights. Under this methodology, the acquirer is expected to absorb all start-up costs, as well as incur all expenses pertaining to the acquisition and / or the creation of all tangible and intangible assets. The estimated future revenue, operating expenses, start-up costs, and discount rate were the primary inputs in the valuation. Based on the Trigger Event, the Company updated the discount rate to reflect the increased uncertainty of the cash flows and updated the projected cash flow stream. As a result, the Company recognized an impairment of $15.0 million in first quarter of 2020 for its Presque Isle gaming rights ($12.5 million related to the Gaming segment and $2.5 million related to the Online Wagering segment). The Presque Isle trademark was initially valued in first quarter of 2019 using the relief-from-royalty method of the income approach, which estimates the fair value of the intangible asset by discounting the fair value of the hypothetical royalty payments a market participant would be willing to pay to enjoy the benefits of the asset. The estimated future revenue, royalty rate, and discount rate were the primary inputs in the valuation of the trademark. Based on the Trigger Event, the Company updated the discount rate to reflect the increased uncertainty of the cash flows and updated projected cash flow stream. As a result, the Company recognized an impairment of $2.5 million in first quarter of 2020 for its Presque Isle trademark. The fair value of the Presque Isle reporting unit's goodwill was determined under the market and income valuation approaches using inputs primarily related to discounted projected cash flows and price multiples of publicly traded comparable companies. In accordance with Accounting Standards Codification 350, Intangibles - Goodwill and Other, the Company performed its impairment testing of the Presque Isle gaming rights and trademark prior to testing Presque Isle goodwill. Based on the Trigger Event, the Company updated the discount rate to reflect the increased uncertainty of the cash flows and updated project cash flow stream. As a result, the Company did not recognize an impairment for Presque Isle goodwill in the first quarter of 2020 because the fair value exceeded the carrying value.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company’s effective income tax rate for the three and six months ended June 30, 2020 reflects a tax benefit on our actual pretax loss, while the annual estimated effective tax rate reflects tax expense on our estimated annual pretax income. The Company’s effective income tax rate for the three months ended June 30, 2020 was higher than the U.S. federal statutory rate of 21.0% primarily resulting from nondeductible officer's compensation, state income taxes and the establishment of a valuation allowance against current year state income tax losses in certain jurisdictions that do not require combined reporting. The Company's annual estimated effective tax rate includes a tax benefit from a current year federal taxable loss which will be carried back to a pre-2018 tax year, reducing the effective income tax rate applied to the pre-tax loss in the second quarter of 2020. The effective income tax rate for the six months ended June 30, 2020 was higher than the U.S. federal statutory rate of 21.0% primarily resulting from state income taxes, nondeductible officer's compensation and year-to-date tax deductions from vesting of stock awards in excess of book deductions. The Company's annual estimated effective tax rate includes a tax benefit from a current year federal taxable loss which will be carried back to a pre-2018 tax year, reducing the effective income tax rate applied to the pre-tax loss in the six months ended June 30, 2020. The Company's effective income tax rate for the three months ended June 30, 2019 was higher than the U.S. federal statutory rate of 21.0%, primarily due to state income taxes and certain expenses that are not deductible for the purposes of income taxes. This expense was partially offset by tax benefits resulting from tax deductions from vesting of stock awards in excess of book deductions. The Company's effective income tax rate for the six months ended June 30, 2019 was higher than the U.S. federal statutory rate of 21.0% primarily due to state income taxes, as well as $2.2 million of future income tax expenses recognized from the re-measurement of our net deferred tax liabilities based on an increase in income attributable to states with higher tax rates compared to the prior year quarter, and certain expenses that are not deductible for the purposes of income taxes. This expense was partially offset by tax benefits resulting from tax deductions from vesting of stock awards in excess of book deductions.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2020
Shareholders' Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS’ EQUITYOn October 30, 2018, the Board of Directors of the Company approved a new common stock repurchase program of up to $300.0 million. The new program replaced the prior $250.0 million program that was authorized in April 2017 and had unused authorization of $78.3 million. The new authorized amount includes and is not in addition to any unspent amount remaining under the prior authorization. Repurchases may be made at management’s discretion from time to time on the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. The repurchase program has no time limit and may be suspended or discontinued at any time. For the six months ended June 30, 2020, we repurchased 235,590 shares of our common stock under the October 2018 stock repurchase program at an aggregate purchase price of $27.9 million, based on trade date. We had approximately $147.1 million of repurchase authority remaining under this program at June 30, 2020, based on trade date. There were no repurchases of common stock under our repurchase program for the three months ended June 30, 2020.

Stock-based Compensation Plans

Stock-based Compensation Plans	6 Months Ended
	Jun. 30, 2020
Stock-Based Compensation Plans [Abstract]
Stock-based Compensation Plans	STOCK-BASED COMPENSATION PLANS We have stock-based employee compensation plans with awards outstanding under the Churchill Downs Incorporated 2016 Omnibus Stock Incentive Plan (the "2016 Plan") and the Executive Long-Term Incentive Compensation Plan, which was adopted pursuant to the 2016 Plan. Our total stock-based compensation expense, which includes expenses related to restricted stock awards ("RSAs"), restricted stock unit awards ("RSUs"), performance share unit awards ("PSUs"), and stock options associated with our employee stock purchase plan was $6.1 million for the three months ended June 30, 2020 and $7.4 million for the three months ended June 30, 2019. Stock-based compensation expense was $10.4 million for the six months ended June 30, 2020 and $12.1 million for the six months ended June 30, 2019. During the six months ended June 30, 2020, the Company awarded RSUs to employees, RSUs and PSUs to certain named executive officers ("NEOs"), and RSUs to directors. The vesting criteria for the PSU awards granted in 2020 were based on a three-year service period with two performance conditions and a market condition related to relative total shareholder return ("TSR") consistent with prior year grants. The total compensation cost we will recognize under the PSUs will be determined using the Monte Carlo valuation methodology, which factors in the value of the TSR market condition when determining the grant date fair value of the PSU. Compensation cost for each PSU is recognized during the performance and service period based on the probable achievement of the two performance criteria. The PSUs are converted into shares of our common stock at the time the PSU award value is finalized. On February 12, 2020, the Compensation Committee of the Board of Directors offered, and the NEOs accepted, to settle the 2017 PSU Awards in cash. A summary of the RSUs and PSUs granted during 2020 is presented below (units in thousands): Grant Year Award Type Number of Units Awarded Vesting Terms 2020 RSU 44 Vest equally over three 2020 RSU 37 Vest equally over three 2020 PSU 37 Three 2020 RSU 12 One

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	DEBT Credit Agreement On March 16, 2020, the Company entered into the First Amendment (the “First Amendment”) to its Credit Agreement (as amended, the “Credit Agreement”), dated December 27, 2017, among the Company, the subsidiary guarantors party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders and other financial institutions party thereto. The First Amendment extends the maturity for the Company’s Revolver to at least September 27, 2024, which is 91 days prior to the latest maturity date of the Company’s term loan facility on December 27, 2024. Previously, the maturity date of the revolving credit facility was December 27, 2022. The interest rates applicable to the Company’s borrowings under the Credit Agreement are LIBOR-based plus a spread, determined by the Company’s consolidated total net leverage ratio. The First Amendment, among other things, lowers the upper limit of the applied spreads with respect to revolving loans from 2.25% to 1.75% and for commitment fees with respect thereto from 0.35% to 0.30%, and generally offers a reduced pricing schedule for outstanding borrowings and commitment fees with respect to the Revolver across all other leverage pricing levels. The interest rates applicable to borrowings under the facilities are LIBOR-based plus a spread, determined by the Company’s consolidated total net leverage ratio. The First Amendment does not alter the Company’s borrowing capacity. The Company capitalized $2.0 million of debt issuance costs associated with the First Amendment which are amortized as interest expense over the remaining duration of the Revolver. On March 16, 2020, we borrowed $675.4 million on our Revolver to provide the Company with additional financial flexibility, which provided the Company with $649.2 million of cash and cash equivalents as of June 30, 2020. On April 28, 2020, the Company entered into the Second Amendment to its Credit Agreement, which (i) provides for a financial covenant relief period through the date on which the Company delivers its quarterly financial statements and compliance certificate for the fiscal quarter ending June 30, 2021, subject to certain exceptions (the “Financial Covenant Relief Period”), (ii) amends the definition of “Consolidated EBITDA” in the Credit Agreement with respect to the calculation of

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	REVENUE FROM CONTRACTS WITH CUSTOMERS Performance Obligations As of June 30, 2020, the Churchill Downs segment had remaining performance obligations, on contracts with a duration greater than one year, with an aggregate transaction price of $162.7 million. The revenue we expect to recognize on these remaining performance obligations is $38.1 million for the remainder of 2020, $39.1 million in 2021, $32.6 million in 2022, and the remainder thereafter. As of June 30, 2020, our remaining performance obligations in segments other than Churchill Downs were not material. Contract Assets and Contract Liabilities As of June 30, 2020 and December 31, 2019, contract assets were not material. As of June 30, 2020 and December 31, 2019, contract liabilities were $108.8 million and $63.1 million, respectively, which are included in current deferred revenue, non-current deferred revenue, and accrued expense in the accompanying condensed consolidated balance sheets. Contract liabilities primarily relate to the Churchill Downs segment and the increase was primarily due to cash payments received for unfulfilled performance obligations. We recognized $0.3 million of revenue during the three months ended June 30, 2020 and $4.1 million of revenue during the six months ended June 30, 2020 that was included in the contract liabilities balance at December 31, 2019. We recognized $45.8 million of revenue during the three months ended June 30, 2019 and $48.5 million of revenue during the six months ended June 30, 2019 that was included in the contract liabilities balance at December 31, 2018. Disaggregation of Revenue In Note 18, Segment Information, the Company has included its disaggregated revenue disclosures as follows: • For the Churchill Downs segment, revenue is disaggregated between Churchill Downs Racetrack and Derby City Gaming given that Churchill Downs Racetrack's revenues primarily revolve around live racing events while Derby City Gaming's revenues primarily revolve around historical racing events. Within the Churchill Downs segment, revenue is further disaggregated between live and simulcast racing, historical racing, racing event-related services, and other services. • For the Online Wagering segment, revenue is disaggregated between TwinSpires and online sports betting and iGaming business given that TwinSpires' revenue is primarily related to online pari-mutuel wagering on live race events while online sports betting and iGaming revenue relates to casino gaming service offerings. Online sports betting and iGaming service offerings are currently nominal. Within the Online Wagering segment, revenue is further disaggregated between live and simulcast racing, gaming, and other services. • For the Gaming segment, revenue is disaggregated by location given the geographic economic factors that affect the revenue of Gaming service offerings. Within the Gaming segment, revenue is further disaggregated between live and simulcast racing, racing event-related services, gaming, and other services. We believe that these disclosures depict how the amount, nature, timing, and uncertainty of cash flows are affected by economic factors.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following: (in millions) June 30, 2020 December 31, 2019 Account wagering deposits liability $ 38.5 $ 28.9 Accrued interest 19.5 19.7 Purses payable 18.9 19.9 Accrued salaries and related benefits 8.5 29.2 Other 79.2 75.7 Total $ 164.6 $ 173.4

Investment in and Advances to U

Investment in and Advances to Unconsolidated Affiliates	6 Months Ended
	Jun. 30, 2020
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in and Advances to Unconsolidated Affiliates	INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES Midwest Gaming On March 5, 2019, the Company completed the Sale Transaction to acquire approximately 42% of Midwest Gaming, the parent company of Rivers Des Plaines, for cash consideration of approximately $406.6 million and $3.5 million of certain transaction costs and working capital adjustments. Following the closing of the Sale Transaction, the parties completed the Recapitalization pursuant to which Midwest Gaming used approximately $300.0 million in proceeds from amended and extended credit facilities to redeem, on a pro rata basis, additional Midwest Gaming units held by High Plaines and Casino Investors. As a result of the Recapitalization, the Company's ownership of Midwest Gaming increased to 61.3%. High Plaines retained ownership of 36.0% of Midwest Gaming and Casino Investors retained ownership of 2.7% of Midwest Gaming. We also recognized a $103.2 million deferred tax liability and a corresponding increase in our investment in unconsolidated affiliates related to an entity we acquired in conjunction with our acquisition of the Clairvest ownership stake in Midwest Gaming. A new limited liability company agreement was entered into by the members of Midwest Gaming as a result of the change in ownership structure. Under the new limited liability company agreement, both the Company and High Plaines have participating rights over Midwest Gaming, and both must consent to Midwest Gaming's operating, investing and financing decisions. As a result, we account for Midwest Gaming using the equity method. The Company’s investment in Midwest Gaming is presented at our initial cost of investment plus its accumulated proportional share of income or loss, including depreciation/accretion of the difference in the historical basis of the Company’s contribution, less any distributions it has received. As of June 30, 2020, the net aggregate basis difference between the Company’s investment in Midwest Gaming and the amounts of the underlying equity in net assets was $833.8 million. Summarized Financial Results for our Unconsolidated Affiliates Summarized below are the financial results for our unconsolidated affiliates. The summarized income statement information for the three and six months ended June 30, 2020 and 2019, respectively, and summarized balance sheet information as of June 30, 2020 and December 31, 2019 includes the following equity investments: MVG, Rivers Des Plaines from the transaction date of March 5, 2019, and two other immaterial joint ventures. Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Net revenue $ 6.8 $ 166.2 $ 144.6 $ 255.7 Operating and SG&A expense 7.2 119.1 108.0 180.1 Depreciation and amortization 4.1 3.3 8.3 5.5 Total operating expense 11.3 122.4 116.3 185.6 Operating (loss) income (4.5) 43.8 28.3 70.1 Interest and other, net (13.4) (25.3) (49.2) (42.3) Net (loss) income $ (17.9) $ 18.5 $ (20.9) $ 27.8 (in millions) June 30, 2020 December 31, 2019 Assets Current assets $ 98.3 $ 64.0 Property and equipment, net 271.2 256.1 Other assets, net 246.1 240.1 Total assets $ 615.6 $ 560.2 Liabilities and Members' Deficit Current liabilities $ 91.3 $ 73.3 Long-term debt 790.1 745.0 Other liabilities 43.9 20.6 Members' deficit (309.7) (278.7) Total liabilities and members' deficit $ 615.6 $ 560.2

Fair Value of Assets And Liabil

Fair Value of Assets And Liabilities	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets And Liabilities	FAIR VALUE OF ASSETS AND LIABILITIES We endeavor 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 methods and assumptions are used to estimate the fair value of each class of financial instruments for which it is practicable to estimate. Restricted Cash Our restricted cash accounts that 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. Debt The fair value of the Company’s 4.75% Senior Notes due 2028 (the "2028 Senior Notes") and 5.500% Senior Notes due 2027 ("2027 Senior Notes") are estimated based on unadjusted quoted prices for identical or similar liabilities in markets that are not active and as such are Level 2 measurements. The fair values of the Company's $400.0 million Senior Secured Term Loan B (the "Term Loan B") and Revolver under the Credit Agreement approximate the gross carrying value of the variable rate debt and as such are Level 2 measurements. The carrying amounts and estimated fair values by input level of the Company's financial instruments are as follows: June 30, 2020 (in millions) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Restricted cash $ 49.8 $ 49.8 $ 49.8 $ — $ — Financial liabilities: Term Loan B 386.5 390.0 — 390.0 — Revolver 694.6 694.6 — 694.6 — 2027 Senior Notes 592.6 584.8 — 584.8 — 2028 Senior Notes 494.2 480.3 — 480.3 — December 31, 2019 (in millions) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Restricted cash $ 46.3 $ 46.3 $ 46.3 $ — $ — Financial liabilities: Term Loan B 388.0 392.0 — 392.0 — 2027 Senior Notes 592.0 636.0 — 636.0 — 2028 Senior Notes 493.9 515.2 — 515.2 —

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES We are involved in litigation arising in the ordinary course of conducting business. We carry insurance for workers' compensation claims from our employees and general liability for claims from independent contractors, customers and guests. We are self-insured up to an aggregate stop loss for our general liability and workers' compensation coverages. In accordance with current accounting standards for loss contingencies and based upon information currently known to us, we establish reserves for litigation when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss or range of loss can be reasonably estimated. When no amount within the range of loss is a better estimate than any other amount, we accrue the minimum amount of the estimable loss. To the extent that such litigation against us may have an exposure to a loss in excess of the amount we have accrued, we believe that such excess would not be material to our consolidated financial condition, results of operations, or cash flows. Legal fees are expensed as incurred. We review all litigation on an ongoing basis when making accrual and disclosure decisions. For certain legal proceedings, we cannot reasonably estimate losses or a range of loss, if any, particularly for proceedings that are in the early stages of development or where the plaintiffs seek indeterminate damages. Various factors, including, but not limited to, the outcome of potentially lengthy discovery and the resolution of important factual questions, may need to be determined before probability can be established or before a loss or range of loss can be reasonably estimated. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. In the event that a legal proceeding results in a substantial judgment against, or settlement by us, there can be no assurance that any resulting liability or financial commitment would not have a material adverse impact on our business. Kater and Thimmegowda Settlement Refer to Note 5, Discontinued Operations, for further discussion of the Kater and Thimmegowda settlement. Louisiana Environmental Protection Agency Non-Compliance Issue On December 6, 2013, we received a notice from the United States Environmental Protection Agency ("EPA") regarding alleged CAFO non-compliance at Fair Grounds Race Course. On October 21, 2019, we reached an agreement in principle,

Net Income Per Common Share Com

Net Income Per Common Share Computations	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Income Per Common Share Computations	NET INCOME PER COMMON SHARE COMPUTATIONS The following is a reconciliation of the numerator and denominator of the net income per common share computations: Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share data) 2020 2019 2020 2019 Numerator for basic net (loss) income per common share: Net (loss) income from continuing operations $ (23.6) $ 108.3 $ (46.2) $ 120.2 Net loss attributable to noncontrolling interest — — (0.1) — Net (loss) income from continuing operations, net of loss attributable to noncontrolling interests (23.6) 108.3 (46.1) 120.2 Net loss from discontinued operations (95.2) (1.2) (96.1) (1.5) Numerator for basic net (loss) income per common share $ (118.8) $ 107.1 $ (142.2) $ 118.7 Numerator for diluted net (loss) income from continuing operations per common share $ (23.6) $ 108.3 $ (46.1) $ 120.2 Numerator for diluted net (loss) income per common share $ (118.8) $ 107.1 $ (142.2) $ 118.7 Denominator for net (loss) income per common share: Basic 39.5 40.1 39.6 40.3 Plus dilutive effect of stock awards — 0.6 — 0.4 Diluted 39.5 40.7 39.6 40.7 Net (loss) income per common share data: Basic Continuing operations $ (0.59) $ 2.69 $ (1.16) $ 2.99 Discontinued operations $ (2.41) $ (0.03) $ (2.43) $ (0.04) Net (loss) income per common share - basic $ (3.00) $ 2.66 $ (3.59) $ 2.95 Diluted Continuing operations $ (0.59) $ 2.66 $ (1.16) $ 2.96 Discontinued operations $ (2.41) $ (0.03) $ (2.43) $ (0.04) Net (loss) income per common share - diluted $ (3.00) $ 2.63 $ (3.59) $ 2.92 Anti-dilutive stock awards excluded from the calculation of diluted shares 0.5 — 0.5 —

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION We manage our operations through three reportable segments: • Churchill Downs The Churchill Downs segment includes live and historical pari-mutuel racing related revenue and expenses at Churchill Downs Racetrack and Derby City Gaming. Churchill Downs Racetrack is the home of The Kentucky Derby and conducts live racing during the year. Derby City Gaming is a historical racing machine facility that operates under the Churchill Downs pari-mutuel racing license at its ancillary training facility in Louisville, Kentucky. Churchill Downs Racetrack and Derby City Gaming earn commissions primarily from pari-mutuel wagering on live races at Churchill Downs and on historical races at Derby City Gaming; simulcast fees earned from other wagering sites; admissions, personal seat licenses, sponsorships, television rights, and other miscellaneous services (collectively "racing event-related services"), as well as food and beverage services. • Online Wagering The Online Wagering segment includes the revenue and expenses for TwinSpires and the online sports betting and iGaming business. TwinSpires operates our online horse racing wagering business on TwinSpires.com, BetAmerica.com and other Company platforms; facilitates high dollar wagering by international customers (Velocity); and provides the platform for horse racing statistical data generated by our information business that provides data and processing services to the equine industry (Brisnet). Our sports betting and iGaming business includes the online BetAmerica sports betting and casino gaming operations. • Gaming The Gaming segment includes revenue and expenses for the casino properties and associated racetrack or jai alai facilities which support the casino license. The Gaming segment has approximately 11,000 slot machines and VLTs and 200 table games located in eight states. The Gaming segment revenue and Adjusted EBITDA includes the following properties: ◦ Calder ◦ Fair Grounds and VSI ◦ Harlow’s ◦ Lady Luck Nemacolin management agreement ◦ Ocean Downs ◦ Oxford ◦ Presque Isle ◦ Riverwalk The Gaming segment Adjusted EBITDA also includes the Adjusted EBITDA related to the Company’s equity investments in the following: ◦ 61.3% equity investment in Midwest Gaming, the parent company of Rivers Des Plaines ◦ 50% equity investment in MVG The Gaming segment generates revenue and expenses from slot machines, table games, VLTs, video poker, retail sports betting, ancillary food and beverage services, hotel services, commission on pari-mutuel wagering, racing event-related services, and / or other miscellaneous operations. We have aggregated the following businesses as well as certain corporate operations, and other immaterial joint ventures in "All Other" to reconcile to consolidated results: • Arlington • United Tote • Oak Grove Racing and Gaming • Turfway Park • Corporate We conduct our business through these reportable segments and report net revenue and operating expense associated with these reportable segments in the accompanying condensed consolidated statements of comprehensive income. Eliminations include the elimination of intersegment transactions. We utilize non-GAAP measures, including EBITDA (earnings before interest, taxes, depreciation and amortization) and Adjusted EBITDA. Our chief operating decision maker utilizes Adjusted EBITDA to evaluate segment performance, develop strategy and allocate resources. Adjusted EBITDA includes the following adjustments: Adjusted EBITDA includes our portion of EBITDA from our equity investments. Adjusted EBITDA excludes: • Transaction expense, net which includes: ◦ Acquisition and disposition related charges; ◦ Calder racing exit costs; and ◦ Other transaction expense, including legal, accounting, and other deal-related expense; • Stock-based compensation expense; • Midwest Gaming's impact on our investments in unconsolidated affiliates from: ◦ The impact of changes in fair value of interest rate swaps; and ◦ Recapitalization and transaction costs; • Asset impairments; • Gain on Ocean Downs/Saratoga Transaction; • Legal reserves; • Pre-opening expense; and • Other charges, recoveries and expenses We utilize the Adjusted EBITDA metric to provide a more accurate measure of our core operating results and enable 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. Our calculation of Adjusted EBITDA may be different from the calculation used by other companies and, therefore, comparability may be limited. For segment reporting, Adjusted EBITDA includes intercompany revenue and expense totals that are eliminated in the accompanying condensed consolidated statements of comprehensive income. The tables below present net revenue from external customers and intercompany revenue from each of our segments, net revenue from external customers for each group of similar services, Adjusted EBITDA by segment, and a reconciliation of comprehensive (loss) income to Adjusted EBITDA: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Net revenue from external customers: Churchill Downs: Churchill Downs Racetrack $ 15.6 $ 161.0 $ 17.5 $ 163.3 Derby City Gaming 7.7 21.2 29.3 39.9 Total Churchill Downs 23.3 182.2 46.8 203.2 Online Wagering: TwinSpires 119.9 95.6 186.5 158.6 Online Sports Betting and iGaming 1.3 — 2.0 0.1 Total Online Wagering 121.2 95.6 188.5 158.7 Gaming: Fair Grounds and VSI 11.1 30.9 42.7 68.4 Presque Isle 2.0 37.1 29.6 66.8 Calder 5.7 25.6 27.5 51.0 Oxford 0.1 26.3 20.2 50.2 Ocean Downs 3.1 21.9 17.9 40.3 Riverwalk 7.4 14.2 20.1 30.5 Harlow’s 5.6 13.3 17.3 28.6 Lady Luck Nemacolin 2.3 8.3 9.6 10.6 Total Gaming 37.3 177.6 184.9 346.4 All Other 3.3 22.0 17.8 34.5 Net revenue from external customers $ 185.1 $ 477.4 $ 438.0 $ 742.8 Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Intercompany net revenue: Churchill Downs $ 6.9 $ 10.9 $ 7.2 $ 11.3 Online Wagering 0.4 0.4 0.8 0.7 Gaming — 0.2 1.5 1.5 All Other 2.9 3.4 5.9 5.6 Eliminations (10.2) (14.9) (15.4) (19.1) Intercompany net revenue $ — $ — $ — $ — Three Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 14.9 $ 115.6 $ 1.7 $ 132.2 $ 0.8 $ 133.0 Historical racing (a) 7.3 — — 7.3 — 7.3 Racing event-related services 0.5 — 0.7 1.2 — 1.2 Gaming (a) — 1.5 33.3 34.8 — 34.8 Other (a) 0.6 4.1 1.6 6.3 2.5 8.8 Total $ 23.3 $ 121.2 $ 37.3 $ 181.8 $ 3.3 $ 185.1 Three Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 41.3 $ 91.1 $ 5.5 $ 137.9 $ 12.2 $ 150.1 Historical racing (a) 19.7 — — 19.7 — 19.7 Racing event-related services 113.4 — 0.8 114.2 2.2 116.4 Gaming (a) — — 150.2 150.2 — 150.2 Other (a) 7.8 4.5 21.1 33.4 7.6 41.0 Total $ 182.2 $ 95.6 $ 177.6 $ 455.4 $ 22.0 $ 477.4 (a) Food and beverage, hotel, and other services furnished to customers for free as an inducement to gamble or through the redemption of our customers' loyalty points are recorded at their estimated standalone selling prices in Other revenue with a corresponding offset recorded as a reduction in historical pari-mutuel revenue for HRMs or gaming revenue for our casino properties. These amounts were $0.8 million for the three months ended June 30, 2020 and $7.9 million for the three months ended June 30, 2019. Six Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 15.9 $ 179.5 $ 11.6 $ 207.0 $ 10.7 $ 217.7 Historical racing (b) 27.7 — — 27.7 — 27.7 Racing event-related services 0.5 — 2.0 2.5 0.1 2.6 Gaming (b) — 2.2 154.9 157.1 — 157.1 Other (b) 2.7 6.8 16.4 25.9 7.0 32.9 Total $ 46.8 $ 188.5 $ 184.9 $ 420.2 $ 17.8 $ 438.0 Six Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 42.7 $ 151.6 $ 17.7 $ 212.0 $ 19.7 $ 231.7 Historical racing (b) 37.4 — — 37.4 — 37.4 Racing event-related services 113.4 — 2.3 115.7 2.2 117.9 Gaming (b) — 0.1 289.2 289.3 — 289.3 Other (b) 9.7 7.0 37.2 53.9 12.6 66.5 Total $ 203.2 $ 158.7 $ 346.4 $ 708.3 $ 34.5 $ 742.8 (b) Food and beverage, hotel, and other services furnished to customers for free as an inducement to gamble or through the redemption of our customers' loyalty points are recorded at their estimated standalone selling prices in Other revenue with a corresponding offset recorded as a reduction in historical pari-mutuel revenue for HRMs or gaming revenue for our casino properties. These amounts were $8.4 million for the six months ended June 30, 2020 and $15.5 million for the six months ended June 30, 2019. Adjusted EBITDA by segment is comprised of the following: Three Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 30.2 $ 121.6 $ 37.3 Taxes and purses (13.9) (6.6) (14.4) Marketing and advertising (0.3) (2.9) (0.4) Salaries and benefits (4.9) (3.0) (9.0) Content expense (0.1) (59.7) (0.4) Selling, general and administrative expense (1.2) (1.7) (3.9) Other operating expense (5.3) (9.0) (11.1) Other income — 0.1 (0.1) Adjusted EBITDA $ 4.5 $ 38.8 $ (2.0) Three Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 193.1 $ 96.0 $ 177.8 Taxes and purses (35.7) (4.3) (68.5) Marketing and advertising (3.6) (4.5) (5.1) Salaries and benefits (12.5) (2.7) (25.4) Content expense (0.8) (51.8) (1.7) Selling, general and administrative expense (2.0) (1.9) (6.9) Other operating expense (16.6) (8.6) (21.8) Other income — — 27.7 Adjusted EBITDA $ 121.9 $ 22.2 $ 76.1 Six Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 54.0 $ 189.3 $ 186.4 Taxes & purses (21.0) (10.5) (73.5) Marketing & advertising (1.4) (6.4) (5.7) Salaries & benefits (11.1) (6.5) (38.5) Content expense (0.5) (92.9) (1.6) SG&A expense (2.7) (3.1) (10.6) Other operating expense (10.9) (16.2) (30.6) Other income — 0.1 21.1 Adjusted EBITDA $ 6.4 $ 53.8 $ 47.0 Six Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 214.5 $ 159.4 $ 347.9 Taxes & purses (41.9) (7.6) (133.5) Marketing & advertising (4.7) (5.5) (10.2) Salaries & benefits (17.7) (5.2) (49.9) Content expense (1.3) (83.9) (2.9) SG&A expense (3.7) (3.7) (13.3) Other operating expense (21.9) (14.4) (40.8) Other income — — 43.6 Adjusted EBITDA $ 123.3 $ 39.1 $ 140.9 Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Reconciliation of Comprehensive (Loss) Income to Adjusted EBITDA: Net (loss) income and comprehensive (loss) income attributable to CDI $ (118.8) $ 107.1 $ (142.2) $ 118.7 Net loss attributable to noncontrolling interest — — 0.1 — Net (loss) income before noncontrolling interest (118.8) 107.1 (142.3) 118.7 Loss from discontinued operations, net of tax 95.2 1.2 96.1 1.5 (Loss) income from continuing operations, net of tax (23.6) 108.3 (46.2) 120.2 Additions: Depreciation and amortization 22.1 21.5 44.1 42.3 Interest expense 20.3 19.4 39.6 33.1 Income tax (benefit) provision (7.9) 38.6 (19.5) 45.1 EBITDA $ 10.9 $ 187.8 $ 18.0 $ 240.7 Adjustments to EBITDA: Selling, general and administrative: Stock-based compensation expense $ 6.1 $ 7.4 $ 10.4 $ 12.1 Other charges (0.1) — (0.1) 0.5 Pre-opening expense and other expense 1.9 0.9 3.6 2.2 Impairment of intangible assets — — 17.5 — Transaction expense, net 0.2 0.6 0.5 4.1 Other income, expense: Interest, depreciation and amortization expense related to equity investments 9.8 9.7 19.3 13.2 Changes in fair value of Midwest Gaming's interest rate swaps 1.3 7.9 16.2 12.2 Midwest Gaming's recapitalization and transactions costs — 0.8 — 4.7 Other — (0.1) — (0.1) Total adjustments to EBITDA 19.2 27.2 67.4 48.9 Adjusted EBITDA $ 30.1 $ 215.0 $ 85.4 $ 289.6 Adjusted EBITDA by segment: Churchill Downs $ 4.5 $ 121.9 $ 6.4 $ 123.3 Online Wagering 38.8 22.2 53.8 39.1 Gaming (2.0) 76.1 47.0 140.9 Total segment Adjusted EBITDA 41.3 220.2 107.2 303.3 All Other $ (11.2) $ (5.2) $ (21.8) $ (13.7) Total Adjusted EBITDA $ 30.1 $ 215.0 $ 85.4 $ 289.6 The table below presents information about equity in (loss) income of unconsolidated investments included in our reported segments: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Gaming $ (11.1) $ 9.5 $ (14.4) $ 13.6 The table below presents total asset information for each of our segments: (in millions) June 30, 2020 December 31, 2019 Total assets: Churchill Downs $ 395.2 $ 370.3 Online Wagering 250.1 241.5 Gaming 945.5 1,030.1 Total segment assets 1,590.8 1,641.9 All Other 1,625.2 909.1 Total assets $ 3,216.0 $ 2,551.0 The table below presents total capital expenditures for each of our segments: Six Months Ended June 30, (in millions) 2020 2019 Capital expenditures: Churchill Downs $ 28.2 $ 21.9 Online Wagering 6.1 4.9 Gaming 4.5 28.2 Total segment capital expenditures 38.8 55.0 All Other 92.5 3.8 Total capital expenditures $ 131.3 $ 58.8

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENTAs of the date of this filing, there were no subsequent events that may impact our disclosures in the condensed consolidated financial statements except for the discussions regarding the impact of the COVID-19 pandemic on our business disclosed in Note 1, Description of Business.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Allowance for Doubtful Accounts Receivable	Allowance for Doubtful Accounts ReceivableUpon our adoption of ASC 326 on January 1, 2020, we maintained an allowance for doubtful accounts for current expected credit losses on our financial assets measured at amortized cost which are primarily included in accounts receivable, net in the accompanying condensed consolidated balance sheets. The Company evaluates current expected credit losses on a collective (pool) basis when similar risk characteristics exist. Write-offs are recognized when the Company concludes that all or a portion of a financial asset is no longer collectible. Any subsequent recovery is recognized when it occurs.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Summary information of disposal classified as held for sale	The following table presents the financial results of Big Fish Games included in "loss from discontinued operations, net of tax" in the accompanying condensed consolidated statements of comprehensive (loss) income: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Net revenue $ — $ — $ — $ — Selling, general and administrative expense 0.3 1.6 1.5 2.0 Legal settlement 124.0 — 124.0 — Loss from discontinued operations before provision for income taxes (124.3) (1.6) (125.5) (2.0) Income tax benefit 29.1 0.4 29.4 0.5 Loss from discontinued operations, net of tax $ (95.2) $ (1.2) $ (96.1) $ (1.5)

Goodwill And Other Intangible_2

Goodwill And Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill, by segment, is comprised of the following: (in millions) Churchill Downs Online Wagering Gaming All Other Total Balances as of December 31, 2019 $ 49.7 $ 148.2 $ 165.2 $ 4.0 $ 367.1 Adjustments — — — (0.3) (0.3) Balances as of June 30, 2020 $ 49.7 $ 148.2 $ 165.2 $ 3.7 $ 366.8
Schedule of Indefinite and Finite Lived Assets	Other intangible assets are comprised of the following: June 30, 2020 December 31, 2019 (in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Definite-lived intangible assets $ 31.7 $ (16.9) $ 14.8 $ 31.3 $ (15.0) $ 16.3 Indefinite-lived intangible assets 336.0 353.5 Total $ 350.8 $ 369.8

Stock-based Compensation Plans

Stock-based Compensation Plans Grants (Tables)	6 Months Ended
	Jun. 30, 2020
Compensation Related Costs [Abstract]
Summary of RSUs and PSUs Granted	A summary of the RSUs and PSUs granted during 2020 is presented below (units in thousands): Grant Year Award Type Number of Units Awarded Vesting Terms 2020 RSU 44 Vest equally over three 2020 RSU 37 Vest equally over three 2020 PSU 37 Three 2020 RSU 12 One

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: (in millions) June 30, 2020 December 31, 2019 Account wagering deposits liability $ 38.5 $ 28.9 Accrued interest 19.5 19.7 Purses payable 18.9 19.9 Accrued salaries and related benefits 8.5 29.2 Other 79.2 75.7 Total $ 164.6 $ 173.4

Investment in and Advances to_2

Investment in and Advances to Unconsolidated Affiliates (Tables)	6 Months Ended
	Jun. 30, 2020
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Affiliate Income Statement	Summarized below are the financial results for our unconsolidated affiliates. The summarized income statement information for the three and six months ended June 30, 2020 and 2019, respectively, and summarized balance sheet information as of June 30, 2020 and December 31, 2019 includes the following equity investments: MVG, Rivers Des Plaines from the transaction date of March 5, 2019, and two other immaterial joint ventures. Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Net revenue $ 6.8 $ 166.2 $ 144.6 $ 255.7 Operating and SG&A expense 7.2 119.1 108.0 180.1 Depreciation and amortization 4.1 3.3 8.3 5.5 Total operating expense 11.3 122.4 116.3 185.6 Operating (loss) income (4.5) 43.8 28.3 70.1 Interest and other, net (13.4) (25.3) (49.2) (42.3) Net (loss) income $ (17.9) $ 18.5 $ (20.9) $ 27.8
Affiliate Balance Sheet	(in millions) June 30, 2020 December 31, 2019 Assets Current assets $ 98.3 $ 64.0 Property and equipment, net 271.2 256.1 Other assets, net 246.1 240.1 Total assets $ 615.6 $ 560.2 Liabilities and Members' Deficit Current liabilities $ 91.3 $ 73.3 Long-term debt 790.1 745.0 Other liabilities 43.9 20.6 Members' deficit (309.7) (278.7) Total liabilities and members' deficit $ 615.6 $ 560.2

Fair Value Of Assets And Liab_2

Fair Value Of Assets And Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The carrying amounts and estimated fair values by input level of the Company's financial instruments are as follows: June 30, 2020 (in millions) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Restricted cash $ 49.8 $ 49.8 $ 49.8 $ — $ — Financial liabilities: Term Loan B 386.5 390.0 — 390.0 — Revolver 694.6 694.6 — 694.6 — 2027 Senior Notes 592.6 584.8 — 584.8 — 2028 Senior Notes 494.2 480.3 — 480.3 — December 31, 2019 (in millions) Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Restricted cash $ 46.3 $ 46.3 $ 46.3 $ — $ — Financial liabilities: Term Loan B 388.0 392.0 — 392.0 — 2027 Senior Notes 592.0 636.0 — 636.0 — 2028 Senior Notes 493.9 515.2 — 515.2 —

Net Income Per Common Share C_2

Net Income Per Common Share Computations (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a reconciliation of the numerator and denominator of the net income per common share computations: Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share data) 2020 2019 2020 2019 Numerator for basic net (loss) income per common share: Net (loss) income from continuing operations $ (23.6) $ 108.3 $ (46.2) $ 120.2 Net loss attributable to noncontrolling interest — — (0.1) — Net (loss) income from continuing operations, net of loss attributable to noncontrolling interests (23.6) 108.3 (46.1) 120.2 Net loss from discontinued operations (95.2) (1.2) (96.1) (1.5) Numerator for basic net (loss) income per common share $ (118.8) $ 107.1 $ (142.2) $ 118.7 Numerator for diluted net (loss) income from continuing operations per common share $ (23.6) $ 108.3 $ (46.1) $ 120.2 Numerator for diluted net (loss) income per common share $ (118.8) $ 107.1 $ (142.2) $ 118.7 Denominator for net (loss) income per common share: Basic 39.5 40.1 39.6 40.3 Plus dilutive effect of stock awards — 0.6 — 0.4 Diluted 39.5 40.7 39.6 40.7 Net (loss) income per common share data: Basic Continuing operations $ (0.59) $ 2.69 $ (1.16) $ 2.99 Discontinued operations $ (2.41) $ (0.03) $ (2.43) $ (0.04) Net (loss) income per common share - basic $ (3.00) $ 2.66 $ (3.59) $ 2.95 Diluted Continuing operations $ (0.59) $ 2.66 $ (1.16) $ 2.96 Discontinued operations $ (2.41) $ (0.03) $ (2.43) $ (0.04) Net (loss) income per common share - diluted $ (3.00) $ 2.63 $ (3.59) $ 2.92 Anti-dilutive stock awards excluded from the calculation of diluted shares 0.5 — 0.5 —

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Net Revenue From External Customers and Intercompany Revenue From Each Operating Segment	The tables below present net revenue from external customers and intercompany revenue from each of our segments, net revenue from external customers for each group of similar services, Adjusted EBITDA by segment, and a reconciliation of comprehensive (loss) income to Adjusted EBITDA: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Net revenue from external customers: Churchill Downs: Churchill Downs Racetrack $ 15.6 $ 161.0 $ 17.5 $ 163.3 Derby City Gaming 7.7 21.2 29.3 39.9 Total Churchill Downs 23.3 182.2 46.8 203.2 Online Wagering: TwinSpires 119.9 95.6 186.5 158.6 Online Sports Betting and iGaming 1.3 — 2.0 0.1 Total Online Wagering 121.2 95.6 188.5 158.7 Gaming: Fair Grounds and VSI 11.1 30.9 42.7 68.4 Presque Isle 2.0 37.1 29.6 66.8 Calder 5.7 25.6 27.5 51.0 Oxford 0.1 26.3 20.2 50.2 Ocean Downs 3.1 21.9 17.9 40.3 Riverwalk 7.4 14.2 20.1 30.5 Harlow’s 5.6 13.3 17.3 28.6 Lady Luck Nemacolin 2.3 8.3 9.6 10.6 Total Gaming 37.3 177.6 184.9 346.4 All Other 3.3 22.0 17.8 34.5 Net revenue from external customers $ 185.1 $ 477.4 $ 438.0 $ 742.8 Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Intercompany net revenue: Churchill Downs $ 6.9 $ 10.9 $ 7.2 $ 11.3 Online Wagering 0.4 0.4 0.8 0.7 Gaming — 0.2 1.5 1.5 All Other 2.9 3.4 5.9 5.6 Eliminations (10.2) (14.9) (15.4) (19.1) Intercompany net revenue $ — $ — $ — $ — Three Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 14.9 $ 115.6 $ 1.7 $ 132.2 $ 0.8 $ 133.0 Historical racing (a) 7.3 — — 7.3 — 7.3 Racing event-related services 0.5 — 0.7 1.2 — 1.2 Gaming (a) — 1.5 33.3 34.8 — 34.8 Other (a) 0.6 4.1 1.6 6.3 2.5 8.8 Total $ 23.3 $ 121.2 $ 37.3 $ 181.8 $ 3.3 $ 185.1 Three Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 41.3 $ 91.1 $ 5.5 $ 137.9 $ 12.2 $ 150.1 Historical racing (a) 19.7 — — 19.7 — 19.7 Racing event-related services 113.4 — 0.8 114.2 2.2 116.4 Gaming (a) — — 150.2 150.2 — 150.2 Other (a) 7.8 4.5 21.1 33.4 7.6 41.0 Total $ 182.2 $ 95.6 $ 177.6 $ 455.4 $ 22.0 $ 477.4 (a) Food and beverage, hotel, and other services furnished to customers for free as an inducement to gamble or through the redemption of our customers' loyalty points are recorded at their estimated standalone selling prices in Other revenue with a corresponding offset recorded as a reduction in historical pari-mutuel revenue for HRMs or gaming revenue for our casino properties. These amounts were $0.8 million for the three months ended June 30, 2020 and $7.9 million for the three months ended June 30, 2019. Six Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 15.9 $ 179.5 $ 11.6 $ 207.0 $ 10.7 $ 217.7 Historical racing (b) 27.7 — — 27.7 — 27.7 Racing event-related services 0.5 — 2.0 2.5 0.1 2.6 Gaming (b) — 2.2 154.9 157.1 — 157.1 Other (b) 2.7 6.8 16.4 25.9 7.0 32.9 Total $ 46.8 $ 188.5 $ 184.9 $ 420.2 $ 17.8 $ 438.0 Six Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Total Segments All Other Total Net revenue from external customers Pari-mutuel: Live and simulcast racing $ 42.7 $ 151.6 $ 17.7 $ 212.0 $ 19.7 $ 231.7 Historical racing (b) 37.4 — — 37.4 — 37.4 Racing event-related services 113.4 — 2.3 115.7 2.2 117.9 Gaming (b) — 0.1 289.2 289.3 — 289.3 Other (b) 9.7 7.0 37.2 53.9 12.6 66.5 Total $ 203.2 $ 158.7 $ 346.4 $ 708.3 $ 34.5 $ 742.8
Schedule of Segment Reporting Information	Adjusted EBITDA by segment is comprised of the following: Three Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 30.2 $ 121.6 $ 37.3 Taxes and purses (13.9) (6.6) (14.4) Marketing and advertising (0.3) (2.9) (0.4) Salaries and benefits (4.9) (3.0) (9.0) Content expense (0.1) (59.7) (0.4) Selling, general and administrative expense (1.2) (1.7) (3.9) Other operating expense (5.3) (9.0) (11.1) Other income — 0.1 (0.1) Adjusted EBITDA $ 4.5 $ 38.8 $ (2.0) Three Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 193.1 $ 96.0 $ 177.8 Taxes and purses (35.7) (4.3) (68.5) Marketing and advertising (3.6) (4.5) (5.1) Salaries and benefits (12.5) (2.7) (25.4) Content expense (0.8) (51.8) (1.7) Selling, general and administrative expense (2.0) (1.9) (6.9) Other operating expense (16.6) (8.6) (21.8) Other income — — 27.7 Adjusted EBITDA $ 121.9 $ 22.2 $ 76.1 Six Months Ended June 30, 2020 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 54.0 $ 189.3 $ 186.4 Taxes & purses (21.0) (10.5) (73.5) Marketing & advertising (1.4) (6.4) (5.7) Salaries & benefits (11.1) (6.5) (38.5) Content expense (0.5) (92.9) (1.6) SG&A expense (2.7) (3.1) (10.6) Other operating expense (10.9) (16.2) (30.6) Other income — 0.1 21.1 Adjusted EBITDA $ 6.4 $ 53.8 $ 47.0 Six Months Ended June 30, 2019 (in millions) Churchill Downs Online Wagering Gaming Net revenue $ 214.5 $ 159.4 $ 347.9 Taxes & purses (41.9) (7.6) (133.5) Marketing & advertising (4.7) (5.5) (10.2) Salaries & benefits (17.7) (5.2) (49.9) Content expense (1.3) (83.9) (2.9) SG&A expense (3.7) (3.7) (13.3) Other operating expense (21.9) (14.4) (40.8) Other income — — 43.6 Adjusted EBITDA $ 123.3 $ 39.1 $ 140.9 Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Reconciliation of Comprehensive (Loss) Income to Adjusted EBITDA: Net (loss) income and comprehensive (loss) income attributable to CDI $ (118.8) $ 107.1 $ (142.2) $ 118.7 Net loss attributable to noncontrolling interest — — 0.1 — Net (loss) income before noncontrolling interest (118.8) 107.1 (142.3) 118.7 Loss from discontinued operations, net of tax 95.2 1.2 96.1 1.5 (Loss) income from continuing operations, net of tax (23.6) 108.3 (46.2) 120.2 Additions: Depreciation and amortization 22.1 21.5 44.1 42.3 Interest expense 20.3 19.4 39.6 33.1 Income tax (benefit) provision (7.9) 38.6 (19.5) 45.1 EBITDA $ 10.9 $ 187.8 $ 18.0 $ 240.7 Adjustments to EBITDA: Selling, general and administrative: Stock-based compensation expense $ 6.1 $ 7.4 $ 10.4 $ 12.1 Other charges (0.1) — (0.1) 0.5 Pre-opening expense and other expense 1.9 0.9 3.6 2.2 Impairment of intangible assets — — 17.5 — Transaction expense, net 0.2 0.6 0.5 4.1 Other income, expense: Interest, depreciation and amortization expense related to equity investments 9.8 9.7 19.3 13.2 Changes in fair value of Midwest Gaming's interest rate swaps 1.3 7.9 16.2 12.2 Midwest Gaming's recapitalization and transactions costs — 0.8 — 4.7 Other — (0.1) — (0.1) Total adjustments to EBITDA 19.2 27.2 67.4 48.9 Adjusted EBITDA $ 30.1 $ 215.0 $ 85.4 $ 289.6 Adjusted EBITDA by segment: Churchill Downs $ 4.5 $ 121.9 $ 6.4 $ 123.3 Online Wagering 38.8 22.2 53.8 39.1 Gaming (2.0) 76.1 47.0 140.9 Total segment Adjusted EBITDA 41.3 220.2 107.2 303.3 All Other $ (11.2) $ (5.2) $ (21.8) $ (13.7) Total Adjusted EBITDA $ 30.1 $ 215.0 $ 85.4 $ 289.6
Schedule of Equity in Income of Unconsolidated Investments	The table below presents information about equity in (loss) income of unconsolidated investments included in our reported segments: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Gaming $ (11.1) $ 9.5 $ (14.4) $ 13.6
Schedule of Total Assets and Capital Expenditures by Operating Segment	The table below presents total asset information for each of our segments: (in millions) June 30, 2020 December 31, 2019 Total assets: Churchill Downs $ 395.2 $ 370.3 Online Wagering 250.1 241.5 Gaming 945.5 1,030.1 Total segment assets 1,590.8 1,641.9 All Other 1,625.2 909.1 Total assets $ 3,216.0 $ 2,551.0 The table below presents total capital expenditures for each of our segments: Six Months Ended June 30, (in millions) 2020 2019 Capital expenditures: Churchill Downs $ 28.2 $ 21.9 Online Wagering 6.1 4.9 Gaming 4.5 28.2 Total segment capital expenditures 38.8 55.0 All Other 92.5 3.8 Total capital expenditures $ 131.3 $ 58.8

Description of Business (Detail

Description of Business (Details) ft² in Thousands

Mar. 25, 2020racingDay

Oct. 09, 2019USD ($)a

Mar. 08, 2019USD ($)

Mar. 06, 2019USD ($)

Mar. 05, 2019USD ($)

Jan. 11, 2019USD ($)

Jun. 28, 2020racingDay

Mar. 31, 2020racingDay

Sep. 26, 2020racingDay

Dec. 31, 2021USD ($)ft²game

Dec. 31, 2020USD ($)ft²game

Jun. 30, 2020USD ($)game

Jun. 30, 2019USD ($)

Jun. 30, 2021USD ($)

Mar. 16, 2020USD ($)

Variable Interest Entity [Line Items]

Number of reportable segments | game

3

Proceeds from new credit facilities

$ 726,100,000

$ 1,235,300,000

All Other | Turfway Park

Variable Interest Entity [Line Items]

Number of spectator-free live racing days | racingDay

9

Number of spectator-free live racing days canceled | racingDay

3

Churchill Downs Racetrack

Variable Interest Entity [Line Items]

Number of spectator-free live racing days | racingDay

27

Derby City Gaming

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Gaming capacity, percentage

0.66

Fair Grounds and VSI

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.25

Gaming capacity, percentage

0.50

Video Services, LLC

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Gaming capacity, percentage

0.70

Harlow’s

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Maximum gaming capacity, slots, percentage

0.66

Maximum gaming capacity, table games, percentage

0.60

Ocean Downs

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Maximum gaming capacity, table games, percentage

0.60

Maximum gaming capacity, video lottery terminals, percentage

0.70

Oxford

Variable Interest Entity [Line Items]

Maximum number of persons allowed on the gaming floor | game

200

Presque Isle Downs & Casino

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Maximum gaming capacity, slots, percentage

0.60

Maximum gaming capacity, table games, percentage

0.60

Riverwalk

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Maximum gaming capacity, slots, percentage

0.66

Maximum gaming capacity, table games, percentage

0.60

Lady Luck Nemacolin

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Maximum gaming capacity, slots, percentage

0.50

Maximum gaming capacity, table games, percentage

0.60

Revolving Credit Facility

Variable Interest Entity [Line Items]

Proceeds from new credit facilities

$ 649,200,000

Revolving Credit Facility | Line of Credit

Variable Interest Entity [Line Items]

Borrowings

$ 675,400,000

Proceeds from new credit facilities

$ 649,200,000

Forecast | All Other | Arlington International Racecourse

Variable Interest Entity [Line Items]

Number of spectator-free live racing days | racingDay

30

Presque Isle Downs & Casino And Lady Luck Casino

Variable Interest Entity [Line Items]

Payments to acquire business

$ 178,900,000

Presque Isle Downs & Casino

Variable Interest Entity [Line Items]

Working capital and other purchase price adjustments

$ 1,600,000

Lady Luck Nemacolin

Variable Interest Entity [Line Items]

Payments to acquire business

$ 100,000

Turfway Park

Variable Interest Entity [Line Items]

Payments to acquire business

$ 36,000,000

Working capital and other purchase price adjustments

900,000

Total consideration

$ 46,000,000

Area of land | a

197

Turfway Park | Forecast

Variable Interest Entity [Line Items]

Total consideration

$ 200,000,000

Business combination, future investment in acquisition extension, square foot of gaming floor | ft²

155

Turfway Park | Forecast | Maximum

Variable Interest Entity [Line Items]

Number of historical racing machines | game

1,200

Turfway Park, Newport, Kentucky | Forecast

Variable Interest Entity [Line Items]

Business combination, future investment in acquisition extension, square foot of gaming floor | ft²

17

Number of historical racing machines | game

500

Turfway Park, Newport, Kentucky | Forecast | Maximum

Variable Interest Entity [Line Items]

Business combination, future investment in acquisition extension

$ 38,400,000

Midwest Gaming Holdings, LLC

Variable Interest Entity [Line Items]

Equity method investment, ownership percentage

61.30%

42.00%

61.30%

Aggregated cash consideration paid at closing of the Sale Transaction

$ 406,600,000

Transaction costs

3,500,000

Deferred tax liability

103,200,000

Clairvest Group Inc.

Variable Interest Entity [Line Items]

Transaction costs

3,500,000

Rivers Casino Des Plaines

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Maximum gaming capacity, slots, percentage

0.66

Maximum gaming capacity, table games, percentage

0.60

Miami Valley Gaming LLC

Variable Interest Entity [Line Items]

Patron capacity, percentage

0.50

Maximum gaming capacity, video lottery terminals, percentage

0.50

Equity method investment, ownership percentage

50.00%

Subsequent Event | Revolving Credit Facility | Line of Credit

Variable Interest Entity [Line Items]

Minimum liquidity financial covenant

$ 150,000,000

Midwest Gaming Holdings, LLC

Variable Interest Entity [Line Items]

Proceeds from new credit facilities

$ 300,000,000

$ 300,000,000

High Plaines | Midwest Gaming Holdings, LLC

Variable Interest Entity [Line Items]

Equity method investment, ownership percentage

36.00%

Casino Investors | Midwest Gaming Holdings, LLC

Variable Interest Entity [Line Items]

Equity method investment, ownership percentage

2.70%

Acquisitions - Turfway Park (De

Acquisitions - Turfway Park (Details) - USD ($) $ in Millions	Oct. 09, 2019	Jun. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 366.8	$ 367.1
Turfway Park
Business Acquisition [Line Items]
Total consideration	$ 46
Payments to acquire business	36
Intangible asset acquired	10
Working capital and other purchase price adjustments	0.9
Cash acquired in the acquisition	0.9
Land acquired	18.8
Goodwill	2.7
Current liabilities acquired	2.6
Turfway Park | Game Rights
Business Acquisition [Line Items]
Indefinite-lived assets acquired	9.8
Turfway Park | Trademarks
Business Acquisition [Line Items]
Indefinite-lived assets acquired	$ 5.5

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($) $ in Millions	May 22, 2020	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Jan. 09, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current liabilities of discontinued operations		$ 124	$ 124	$ 0
Big Fish Games | Pro Forma | Cheryl Kater v. Churchill Downs Incorporated | Pending Litigation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount to be paid into a settlement fund	$ 155
Big Fish Games | CDI | Cheryl Kater v. Churchill Downs Incorporated | Pending Litigation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax settlement paid in cash	124	$ 124	$ 124
Big Fish Games | Aristocrat | Cheryl Kater v. Churchill Downs Incorporated | Pending Litigation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax settlement paid in cash	$ 31
Discontinued Operations, Disposed of by Sale | Big Fish Games
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price					$ 990

Discontinued Operations - Incom

Discontinued Operations - Income (Loss) From Discontinued Operations (Details) - Big Fish Games - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	$ 0	$ 0	$ 0	$ 0
Selling, general and administrative expense	0.3	1.6	1.5	2
Legal settlement	124	0	124	0
Loss from discontinued operations before provision for income taxes	(124.3)	(1.6)	(125.5)	(2)
Income tax benefit	29.1	0.4	29.4	0.5
Loss from discontinued operations, net of tax	$ (95.2)	$ (1.2)	$ (96.1)	$ (1.5)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill [Roll Forward]
Balances as of December 31, 2019	$ 367.1
Adjustments	(0.3)
Balances as of June 30, 2020	366.8
Churchill Downs
Goodwill [Roll Forward]
Balances as of December 31, 2019	49.7
Adjustments	0
Balances as of June 30, 2020	49.7
Online Wagering
Goodwill [Roll Forward]
Balances as of December 31, 2019	148.2
Adjustments	0
Balances as of June 30, 2020	148.2
Gaming
Goodwill [Roll Forward]
Balances as of December 31, 2019	165.2
Adjustments	0
Balances as of June 30, 2020	165.2
All Other
Goodwill [Roll Forward]
Balances as of December 31, 2019	4
Adjustments	(0.3)
Balances as of June 30, 2020	$ 3.7

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Gross Carrying Amount	$ 31.7	$ 31.3
Accumulated Amortization	(16.9)	(15)
Definite-Lived Intangible Assets, Net Carrying Amount	14.8	16.3
Indefinite-lived Intangible Assets, Net Carrying Amount	336	353.5
Total intangible assets	$ 350.8	$ 369.8

Asset Impairment (Details)

Asset Impairment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 0	$ 0	$ 17.5	$ 0
Online Wagering
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets			2.5
Presque Isle Downs & Casino | Gaming
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets			12.5
Gaming Rights
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets			15
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets			$ 2.5

Income Taxes (Details)

Income Taxes (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Income Tax Disclosure [Abstract]
Future income tax expenses recognized from the re-measurement of net deferred tax liabilities	$ 2.2

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Oct. 30, 2018	Oct. 29, 2018	Apr. 25, 2017
Distribution Made to Limited Partner [Line Items]
Authorized stock repurchase amount								$ 250,000,000
Remaining unused authorization for stock repurchase program							$ 78,300,000
Repurchase aggregate cost		$ 27,900,000	$ 18,000,000	$ 25,000,000
October 2018 Stock Repurchase Program
Distribution Made to Limited Partner [Line Items]
Authorized stock repurchase amount						$ 300,000,000
Remaining unused authorization for stock repurchase program	$ 147,100,000				$ 147,100,000
Repurchase of common stock (in shares)	0				235,590
Repurchase aggregate cost					$ 27,900,000

Stock-based Compensation Plan_2

Stock-based Compensation Plans (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 6.1	$ 7.4	$ 10.4	$ 12.1
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units Awarded (in shares)			37
Performance and service period			3 years
Share-based Compensation Award, Tranche One | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units Awarded (in shares)			44
Vesting period			3 years
Share-based Compensation Award, Tranche Two | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units Awarded (in shares)			37
Vesting period			3 years
Share-based Payment Arrangement, Tranche Three | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units Awarded (in shares)			12
Vesting period			1 year

Debt (Details)

Debt (Details) - USD ($)	Mar. 16, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2021
Debt Instrument [Line Items]
Proceeds from borrowings under long-term debt obligations		$ 726,100,000	$ 1,235,300,000
Revolving Credit Facility
Debt Instrument [Line Items]
Proceeds from borrowings under long-term debt obligations		649,200,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs	$ 2,000,000
Borrowings	$ 675,400,000
Proceeds from borrowings under long-term debt obligations		$ 649,200,000
Line of Credit | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Minimum liquidity financial covenant				$ 150,000,000
Line of Credit | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.35%
Line of Credit | Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread	2.25%
Line of Credit | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.30%
Line of Credit | Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread	1.75%

Revenue from Contracts with C_2

Revenue from Contracts with Customers - Performance Obiligations (Details) $ in Millions	Jun. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, amount	$ 162.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, amount	$ 38.1
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, amount	$ 39.1
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, amount	$ 32.6
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 108.8		$ 108.8		$ 63.1
Contract with customer, revenue recognized	$ 0.3	$ 45.8	$ 4.1	$ 48.5

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Account wagering deposits liability	$ 38,500	$ 28,900
Accrued interest	19,500	19,700
Purses payable	18,900	19,900
Accrued salaries and related benefits	8,500	29,200
Other	79,200	75,700
Total	$ 164,600	$ 173,400

Investment in and Advances to_3

Investment in and Advances to Unconsolidated Affiliates - Additional Information (Details) - USD ($) $ in Millions	Mar. 06, 2019	Mar. 05, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments in and Advances to Affiliates [Line Items]
Proceeds from borrowings under long-term debt obligations			$ 726.1	$ 1,235.3
Midwest Gaming Holdings, LLC
Investments in and Advances to Affiliates [Line Items]
Equity method investment, ownership percentage	61.30%	42.00%	61.30%
Aggregated cash consideration paid at closing of the Sale Transaction		$ 406.6
Transaction costs		3.5
Deferred tax liability		103.2
Equity method investment, difference between carrying amount and underlying equity			$ 833.8
Midwest Gaming Holdings, LLC
Investments in and Advances to Affiliates [Line Items]
Proceeds from borrowings under long-term debt obligations	$ 300	$ 300
High Plaines | Midwest Gaming Holdings, LLC
Investments in and Advances to Affiliates [Line Items]
Equity method investment, ownership percentage	36.00%
Casino Investors | Midwest Gaming Holdings, LLC
Investments in and Advances to Affiliates [Line Items]
Equity method investment, ownership percentage	2.70%

Investment in and Advances to_4

Investment in and Advances to Unconsolidated Affiliates - Affiliate Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Affiliate Income Statement [Abstract]
Net revenue	$ 6.8	$ 166.2	$ 144.6	$ 255.7
Operating and SG&A expense	7.2	119.1	108	180.1
Depreciation and amortization	4.1	3.3	8.3	5.5
Total operating expense	11.3	122.4	116.3	185.6
Operating (loss) income	(4.5)	43.8	28.3	70.1
Interest and other, net	(13.4)	(25.3)	(49.2)	(42.3)
Net (loss) income	$ (17.9)	$ 18.5	$ (20.9)	$ 27.8

Investment in and Advances to_5

Investment in and Advances to Unconsolidated Affiliates - Affiliate Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Investments in and Advances to Affiliates, Affiliate Balance Sheet [Abstract]
Current assets	$ 98.3	$ 64
Property and equipment, net	271.2	256.1
Other assets, net	246.1	240.1
Total assets	615.6	560.2
Current liabilities	91.3	73.3
Long-term debt	790.1	745
Other liabilities	43.9	20.6
Members' deficit	(309.7)	(278.7)
Total liabilities and members' deficit	$ 615.6	$ 560.2

Fair Value Of Assets And Liab_3

Fair Value Of Assets And Liabilities (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019	Dec. 27, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	$ 49,800,000	$ 46,300,000
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	49,800,000	46,300,000
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	$ 0	0
2027 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	5.50%
2027 Senior Notes | Senior Notes | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	$ 0	0
2027 Senior Notes | Senior Notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	584,800,000	636,000,000
2027 Senior Notes | Senior Notes | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	$ 0	0
2028 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate	4.75%
2028 Senior Notes | Senior Notes | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	$ 0	0
2028 Senior Notes | Senior Notes | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	480,300,000	515,200,000
2028 Senior Notes | Senior Notes | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	0	0
Term Loan B | Term Loan B due 2024 | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Face amount of debt issuance			$ 400,000,000
Term Loan B | Term Loan B due 2024 | Line of Credit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	0	0
Term Loan B | Term Loan B due 2024 | Line of Credit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	390,000,000	392,000,000
Term Loan B | Term Loan B due 2024 | Line of Credit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	0	0
Revolving Credit Facility | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	0
Revolving Credit Facility | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	694,600,000
Revolving Credit Facility | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	0
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	49,800,000	46,300,000
Carrying Amount | 2027 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	592,600,000	592,000,000
Carrying Amount | 2028 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	494,200,000	493,900,000
Carrying Amount | Term Loan B | Term Loan B due 2024 | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	386,500,000	388,000,000
Carrying Amount | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	694,600,000
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash	49,800,000	46,300,000
Fair Value | 2027 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	584,800,000	636,000,000
Fair Value | 2028 Senior Notes | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	480,300,000	515,200,000
Fair Value | Term Loan B | Term Loan B due 2024 | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	390,000,000	$ 392,000,000
Fair Value | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value disclosure of debt	$ 694,600,000

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Penalty accrued	$ 2.8	$ 2.8

Net Income Per Common Share C_3

Net Income Per Common Share Computations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
(Loss) income from continuing operations, net of tax	$ (23.6)	$ 108.3	$ (46.2)	$ 120.2
Net loss attributable to noncontrolling interest	0	0	(0.1)	0
Net (loss) income from continuing operations, net of loss attributable to noncontrolling interests	(23.6)	108.3	(46.1)	120.2
Loss from discontinued operations, net of tax	(95.2)	(1.2)	(96.1)	(1.5)
Numerator for basic net (loss) income per common share	(118.8)	107.1	(142.2)	118.7
Numerator for basic net (loss) income per common share	(23.6)	108.3	(46.1)	120.2
Numerator for diluted net (loss) income from continuing operations per common share	$ (118.8)	$ 107.1	$ (142.2)	$ 118.7
Denominator for net (loss) income per common share:
Basic (in shares)	39.5	40.1	39.6	40.3
Plus dilutive effect of stock awards (in shares)	0	0.6	0	0.4
Diluted (in shares)	39.5	40.7	39.6	40.7
Net (loss) income per common share data, basic:
Continuing operations (in dollars per share)	$ (0.59)	$ 2.69	$ (1.16)	$ 2.99
Discontinued operations (in dollars per share)	(2.41)	(0.03)	(2.43)	(0.04)
Net (loss) income per common share data - basic (in dollars per share)	(3)	2.66	(3.59)	2.95
Net (loss) income per common share data, diluted:
Continuing operations (in dollars per share)	(0.59)	2.66	(1.16)	2.96
Discontinued operations (in dollars per share)	(2.41)	(0.03)	(2.43)	(0.04)
Net (loss) income per common share data - diluted (in dollars per share)	$ (3)	$ 2.63	$ (3.59)	$ 2.92
Anti-dilutive stock awards excluded from the calculation of diluted shares (in shares)	0.5	0	0.5	0

Segment Information - Narrative

Segment Information - Narrative (Details) slot_machine in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020stateSegmentsgame	Jun. 30, 2020slot_machinestategame	Mar. 06, 2019	Mar. 05, 2019
Schedule of Equity Method Investments [Line Items]
Number of operating segments | Segments	3
Number of slot machines | slot_machine		11
Number of table games | game	200	200
Number of states in which Gaming segment has slot machines and video lottery terminals | state	8	8
Midwest Gaming Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	61.30%	61.30%	61.30%	42.00%
Miami Valley Gaming LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%	50.00%

Segment Information - Informati

Segment Information - Information About Reported Segments (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net revenue	$ 185,100,000		$ 477,400,000		$ 438,000,000	$ 742,800,000
Intercompany net revenues	0		0		0	0
Net (loss) income and comprehensive (loss) income attributable to CDI	(118,800,000)		107,100,000		(142,200,000)	118,700,000
Net loss attributable to noncontrolling interest	0		0		(100,000)	0
Net (loss) income	(118,800,000)	$ (23,500,000)	107,100,000	$ 11,600,000	(142,300,000)	118,700,000
Loss from discontinued operations, net of tax	(95,200,000)		(1,200,000)		(96,100,000)	(1,500,000)
(Loss) income from continuing operations, net of tax	(23,600,000)		108,300,000		(46,200,000)	120,200,000
Depreciation and amortization	22,100,000		21,500,000		44,100,000	42,300,000
Interest expense	20,300,000		19,400,000		39,600,000	33,100,000
Income tax (benefit) provision	(7,900,000)		38,600,000		(19,500,000)	45,100,000
EBITDA	10,900,000		187,800,000		18,000,000	240,700,000
Stock-based compensation expense	6,100,000		7,400,000		10,400,000	12,100,000
Other charges	(100,000)		0		(100,000)	500,000
Pre-opening expense and other expense	1,900,000		900,000		3,600,000	2,200,000
Impairment of intangible assets	0		0		17,500,000	0
Transaction expense, net	200,000		600,000		500,000	4,100,000
Interest, depreciation and amortization expense related to equity investments	9,800,000		9,700,000		19,300,000	13,200,000
Fair Value of Interest Rate Swaps	1,300,000		7,900,000		16,200,000	12,200,000
Midwest Gaming's recapitalization and transactions costs	0		800,000		0	4,700,000
Other charges & recoveries, net	0		(100,000)		0	(100,000)
Total adjustments to EBITDA	19,200,000		27,200,000		67,400,000	48,900,000
Adjusted EBITDA	30,100,000		215,000,000		85,400,000	289,600,000
Churchill Downs
Segment Reporting Information [Line Items]
Net revenue	30,200,000		193,100,000		54,000,000	214,500,000
Adjusted Segment EBITDA	4,500,000		121,900,000		6,400,000	123,300,000
Online Wagering
Segment Reporting Information [Line Items]
Net revenue	121,600,000		96,000,000		189,300,000	159,400,000
Impairment of intangible assets					2,500,000
Adjusted Segment EBITDA	38,800,000		22,200,000		53,800,000	39,100,000
Gaming
Segment Reporting Information [Line Items]
Net revenue	37,300,000		177,800,000		186,400,000	347,900,000
Adjusted Segment EBITDA	(2,000,000)		76,100,000		47,000,000	140,900,000
Gaming | Presque Isle Downs & Casino
Segment Reporting Information [Line Items]
Impairment of intangible assets					12,500,000
Operating Segments
Segment Reporting Information [Line Items]
Net revenue	185,100,000		477,400,000		438,000,000	742,800,000
Adjusted Segment EBITDA	41,300,000		220,200,000		107,200,000	303,300,000
Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue	23,300,000		182,200,000		46,800,000	203,200,000
Intercompany net revenues	6,900,000		10,900,000		7,200,000	11,300,000
Adjusted Segment EBITDA	4,500,000		121,900,000		6,400,000	123,300,000
Operating Segments | Churchill Downs | Churchill Downs Racetrack
Segment Reporting Information [Line Items]
Net revenue	15,600,000		161,000,000		17,500,000	163,300,000
Operating Segments | Churchill Downs | Derby City Gaming
Segment Reporting Information [Line Items]
Net revenue	7,700,000		21,200,000		29,300,000	39,900,000
Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue	121,200,000		95,600,000		188,500,000	158,700,000
Intercompany net revenues	400,000		400,000		800,000	700,000
Adjusted Segment EBITDA	38,800,000		22,200,000		53,800,000	39,100,000
Operating Segments | Online Wagering | TwinSpires
Segment Reporting Information [Line Items]
Net revenue	119,900,000		95,600,000		186,500,000	158,600,000
Operating Segments | Online Wagering | Online Sports Betting and iGaming
Segment Reporting Information [Line Items]
Net revenue	1,300,000		0		2,000,000	100,000
Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue	37,300,000		177,600,000		184,900,000	346,400,000
Intercompany net revenues	0		200,000		1,500,000	1,500,000
Adjusted Segment EBITDA	(2,000,000)		76,100,000		47,000,000	140,900,000
Operating Segments | Gaming | Fair Grounds and VSI
Segment Reporting Information [Line Items]
Net revenue	11,100,000		30,900,000		42,700,000	68,400,000
Operating Segments | Gaming | Presque Isle Downs & Casino
Segment Reporting Information [Line Items]
Net revenue	2,000,000		37,100,000		29,600,000	66,800,000
Operating Segments | Gaming | Calder
Segment Reporting Information [Line Items]
Net revenue	5,700,000		25,600,000		27,500,000	51,000,000
Operating Segments | Gaming | Oxford
Segment Reporting Information [Line Items]
Net revenue	100,000		26,300,000		20,200,000	50,200,000
Operating Segments | Gaming | Ocean Downs
Segment Reporting Information [Line Items]
Net revenue	3,100,000		21,900,000		17,900,000	40,300,000
Operating Segments | Gaming | Riverwalk
Segment Reporting Information [Line Items]
Net revenue	7,400,000		14,200,000		20,100,000	30,500,000
Operating Segments | Gaming | Harlow’s
Segment Reporting Information [Line Items]
Net revenue	5,600,000		13,300,000		17,300,000	28,600,000
Operating Segments | Gaming | Lady Luck Nemacolin
Segment Reporting Information [Line Items]
Net revenue	2,300,000		8,300,000		9,600,000	10,600,000
Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue	3,300,000		22,000,000		17,800,000	34,500,000
Intercompany net revenues	2,900,000		3,400,000		5,900,000	5,600,000
Adjusted Segment EBITDA	(11,200,000)		(5,200,000)		(21,800,000)	(13,700,000)
Eliminations
Segment Reporting Information [Line Items]
Intercompany net revenues	$ (10,200,000)		$ (14,900,000)		$ (15,400,000)	$ (19,100,000)

Segment Information - Schedule

Segment Information - Schedule of Net Revenue from External Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net revenue from external customers	$ 185.1	$ 477.4	$ 438	$ 742.8
Disclosure of complimentary revenue	0.8	7.9	8.4	15.5
Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	30.2	193.1	54	214.5
Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	121.6	96	189.3	159.4
Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	37.3	177.8	186.4	347.9
Operating Segments
Segment Reporting Information [Line Items]
Net revenue from external customers	185.1	477.4	438	742.8
Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	23.3	182.2	46.8	203.2
Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	121.2	95.6	188.5	158.7
Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	37.3	177.6	184.9	346.4
Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	3.3	22	17.8	34.5
Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	37.3	177.6
Other
Segment Reporting Information [Line Items]
Net revenue from external customers	3.3	22
External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	185.1	477.4	438	742.8
External Customer | Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	23.3	182.2	46.8	203.2
External Customer | Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	121.2	95.6	188.5	158.7
External Customer | Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	37.3	177.6	184.9	346.4
External Customer | Operating Segments | Total Segments
Segment Reporting Information [Line Items]
Net revenue from external customers	181.8	455.4	420.2	708.3
External Customer | Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	3.3	22	17.8	34.5
External Customer | Pari-mutuel, live and simulcast racing
Segment Reporting Information [Line Items]
Net revenue from external customers	133	150.1	217.7	231.7
External Customer | Pari-mutuel, live and simulcast racing | Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	14.9	41.3	15.9	42.7
External Customer | Pari-mutuel, live and simulcast racing | Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	115.6	91.1	179.5	151.6
External Customer | Pari-mutuel, live and simulcast racing | Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	1.7	5.5	11.6	17.7
External Customer | Pari-mutuel, live and simulcast racing | Operating Segments | Total Segments
Segment Reporting Information [Line Items]
Net revenue from external customers	132.2	137.9	207	212
External Customer | Pari-mutuel, live and simulcast racing | Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	0.8	12.2	10.7	19.7
External Customer | Pari-mutuel, historical racing
Segment Reporting Information [Line Items]
Net revenue from external customers	7.3	19.7	27.7	37.4
External Customer | Pari-mutuel, historical racing | Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	7.3	19.7	27.7	37.4
External Customer | Pari-mutuel, historical racing | Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	0	0	0	0
External Customer | Pari-mutuel, historical racing | Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	0	0	0	0
External Customer | Pari-mutuel, historical racing | Operating Segments | Total Segments
Segment Reporting Information [Line Items]
Net revenue from external customers	7.3	19.7	27.7	37.4
External Customer | Pari-mutuel, historical racing | Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	0	0	0	0
External Customer | Racing event-related services
Segment Reporting Information [Line Items]
Net revenue from external customers	1.2	116.4	2.6	117.9
External Customer | Racing event-related services | Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	0.5	113.4	0.5	113.4
External Customer | Racing event-related services | Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	0	0	0	0
External Customer | Racing event-related services | Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	0.7	0.8	2	2.3
External Customer | Racing event-related services | Operating Segments | Total Segments
Segment Reporting Information [Line Items]
Net revenue from external customers	1.2	114.2	2.5	115.7
External Customer | Racing event-related services | Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	0	2.2	0.1	2.2
External Customer | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	34.8	150.2	157.1	289.3
External Customer | Gaming | Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	0	0	0	0
External Customer | Gaming | Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	1.5	0	2.2	0.1
External Customer | Gaming | Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	33.3	150.2	154.9	289.2
External Customer | Gaming | Operating Segments | Total Segments
Segment Reporting Information [Line Items]
Net revenue from external customers	34.8	150.2	157.1	289.3
External Customer | Gaming | Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	0	0	0	0
External Customer | Other
Segment Reporting Information [Line Items]
Net revenue from external customers	8.8	41	32.9	66.5
External Customer | Other | Operating Segments | Churchill Downs
Segment Reporting Information [Line Items]
Net revenue from external customers	0.6	7.8	2.7	9.7
External Customer | Other | Operating Segments | Online Wagering
Segment Reporting Information [Line Items]
Net revenue from external customers	4.1	4.5	6.8	7
External Customer | Other | Operating Segments | Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	1.6	21.1	16.4	37.2
External Customer | Other | Operating Segments | Total Segments
Segment Reporting Information [Line Items]
Net revenue from external customers	6.3	33.4	25.9	53.9
External Customer | Other | Segment Reconciling Items | All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	$ 2.5	$ 7.6	$ 7	$ 12.6

Segment Information - Adjusted

Segment Information - Adjusted EBITDA by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net revenue	$ 185.1	$ 477.4	$ 438	$ 742.8
Churchill Downs
Segment Reporting Information [Line Items]
Net revenue	30.2	193.1	54	214.5
Taxes and purses	(13.9)	(35.7)	(21)	(41.9)
Marketing and advertising	(0.3)	(3.6)	(1.4)	(4.7)
Salaries and benefits	(4.9)	(12.5)	(11.1)	(17.7)
Content expense	(0.1)	(0.8)	(0.5)	(1.3)
Selling, general and administrative expense	(1.2)	(2)	(2.7)	(3.7)
Other operating expense	(5.3)	(16.6)	(10.9)	(21.9)
Other income	0	0	0	0
Adjusted EBITDA	4.5	121.9	6.4	123.3
Online Wagering
Segment Reporting Information [Line Items]
Net revenue	121.6	96	189.3	159.4
Taxes and purses	(6.6)	(4.3)	(10.5)	(7.6)
Marketing and advertising	(2.9)	(4.5)	(6.4)	(5.5)
Salaries and benefits	(3)	(2.7)	(6.5)	(5.2)
Content expense	(59.7)	(51.8)	(92.9)	(83.9)
Selling, general and administrative expense	(1.7)	(1.9)	(3.1)	(3.7)
Other operating expense	(9)	(8.6)	(16.2)	(14.4)
Other income	0.1	0	0.1	0
Adjusted EBITDA	38.8	22.2	53.8	39.1
Gaming
Segment Reporting Information [Line Items]
Net revenue	37.3	177.8	186.4	347.9
Taxes and purses	(14.4)	(68.5)	(73.5)	(133.5)
Marketing and advertising	(0.4)	(5.1)	(5.7)	(10.2)
Salaries and benefits	(9)	(25.4)	(38.5)	(49.9)
Content expense	(0.4)	(1.7)	(1.6)	(2.9)
Selling, general and administrative expense	(3.9)	(6.9)	(10.6)	(13.3)
Other operating expense	(11.1)	(21.8)	(30.6)	(40.8)
Other income	(0.1)	27.7	21.1	43.6
Adjusted EBITDA	$ (2)	$ 76.1	$ 47	$ 140.9

Segment Information - Equity in

Segment Information - Equity in Earnings of Unconsolidated Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in income of unconsolidated investments	$ (11.1)	$ 9.5	$ (14.4)	$ 13.6
Gaming
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in income of unconsolidated investments	$ (11.1)	$ 9.5	$ (14.4)	$ 13.6

Segment Information - Total Ass

Segment Information - Total Asset Information For Segments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 3,216		$ 2,551
Capital expenditures	131.3	$ 58.8
Operating Segments | Total Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,590.8		1,641.9
Capital expenditures	38.8	55
Operating Segments | Churchill Downs
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	395.2		370.3
Capital expenditures	28.2	21.9
Operating Segments | Online Wagering
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	250.1		241.5
Capital expenditures	6.1	4.9
Operating Segments | Gaming
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	945.5		1,030.1
Capital expenditures	4.5	28.2
Segment Reconciling Items | All Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,625.2		$ 909.1
Capital expenditures	$ 92.5	$ 3.8