Churchill Downs said it entered a definitive agreement to reacquire the 49% stake in United Tote it sold to a New York Racing Association unit in April 2024. The deal is scheduled to close on 5 August, with financial terms undisclosed, and extends NYRA’s use of United Tote systems through 2035.
The agreement changes ownership of a tote technology supplier and extends its systems contract with NYRA through 2035.
Quarter ended 30 September 2026
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Beverage billionaire and racehorse owner Mike Repole acquired a 1.5% holding in Churchill Downs. The report said Churchill Downs shares had fallen 35% since the start of the year.
Mike Repole, a beverage billionaire and racehorse owner, has acquired close to a 1.5% stake in Churchill Downs, the company said in a post by Repole on X. Repole wrote that he had bought 1 million shares over the past four days and might acquire more. The holding was reported on 8 October.
Churchill Downs is assessing offers for nine casinos across eight US states. Chief executive Bill Carstanjen said in a September interview that strategic priorities drove the proposed disposals, while the properties continued to perform well. Sale proceeds are expected to reduce debt, although the company has warned that it may not complete every disposal.
Revenue from historical horse racing machines in Kentucky rose 4.1% in September. Same-store growth was 2.6%, excluding the newer Marshall Yards casino, and overall gross reached $95m. Marshall Yards generated $1.4m, while Derby City remained the highest-grossing casino at $18.3m despite a 3.1% decline.
Kentucky's HHR machines brought in 4.1% more in September. Leaving out Marshall Yards, the comparatively new casino, the same-store gain was 2.6%. Gross receipts totaled $95m.
Churchill Downs CEO Bill Carstanjen said the company was soliciting and assessing bids for seven casinos. Churchill Downs announced the proposed sales in July as part of efforts to address debt and focus on racing, historic horse-racing machines and its online business.
Churchill Downs is soliciting and assessing bids for seven of its casinos, chief executive Bill Carstanjen said. The company announced the proposed sales in July as part of efforts to address debt and concentrate on racing, historic horse-racing machines and its online business.
Analysts at Truist Securities, J.P. Morgan, Texas Capital Securities and Jefferies issued views on gambling markets and companies in September. J.P. Morgan’s Dan Politzer cited New York Gaming Commission data for the week to 13 September 2026, reporting online sports betting gross gaming revenue down 70% year on year and handle up 11%, with a 2.9% hold. The other notes covered Las Vegas, Inspired Entertainment and Churchill Downs.