Churchill Downs (CHDN)
Runs the Kentucky Derby alongside racing, online wagering, and regional casino operations.
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Runs a U.S. platform of live and historical racing, online horse-race wagering, and regional casino gaming. The Kentucky Derby anchors an operating model organized across racing, wagering services, and gaming, all shaped by location-specific licenses and approvals.
Operates live and historical-racing venues, online horse-race wagering through TwinSpires, and regional casino properties. Its three reportable segments are Live and Historical Racing, Wagering Services and Solutions, and Gaming.
The Kentucky Derby at Churchill Downs Racetrack, first run in 1875, anchors a platform that extends beyond Louisville across several U.S. states. Recent additions have included Colonial Downs, Virginia historical-racing venues, casino properties in New York and Iowa, Exacta Systems' historical-horse-racing technology, and a majority interest in Casino Salem.
Exacta Systems serves third-party historical-horse-racing operators within the TwinSpires business. Racing and gaming operations depend on location-specific licenses and regulatory approvals.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 2, 2026 | Wolfe Research | Initiate | Rating: —Target: — | Target: $119 |
| Jun 12, 2026 | Truist Financial | Target | Target: $165 | Target: $145 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $196.0M · Total debt $4.78B · Total assets $7.52B · Shareholders' equity $1.34B
- Revenue
- $980.0M
- Operating income
- $357.0M
- Net income
- $241.0M
HistoryDividendAnnual yield
| Institutions | ≈ 84.12% | 58.63M shares | |
|---|---|---|---|
| 485 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 3.56% | 2.48M shares | |
| 11 holders · as of Jul 2, 2026 | |||
| Other | ≈ 12.32% | 8.58M shares | |
| remainder | |||
69.70M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.90% | 6.20M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.60% | 3.21M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.29% | 2.99M | as of Jun 30, 2026 |
FMR LLCInstitution | 4.23% | 2.95M | as of Jun 30, 2026 |
London Co of VirginiaInstitution | 3.54% | 2.46M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- PENN® Entertainment
Regional casino, racetrack, and digital-gaming operator
- Caesars Entertainment
Regional casino, racino, and online-wagering operator
- Flutter Entertainment
Horse-race ADW through TVG and FanDuel Racing
- Boyd Gaming
Regional casino operator with B2B and B2C online gaming
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Churchill Downs | $82.04 | +0.15% | $5.71B | 14.0 | 11.4 | 1.9 | +4.9% |
| PENN® Entertainment | $16.78 | +4.00% | $2.16B | — | 11.5 | 0.3 | +5.2% |
| Caesars Entertainment | $29.69 | +0.12% | $6.04B | — | — | 0.5 | +3.0% |
| Flutter Entertainment | $90.80 | +4.54% | $15.07B | — | 14.6 | 0.9 | +3.3% |
| Boyd Gaming | $73.60 | +1.41% | $5.27B | 3.2 | 9.9 | 1.3 | +0.0% |
| Median | 3.2 | 11.5 | 0.7 | +3.1% |