Churchill Downs Incorporated opened Marshall Yards Racing & Gaming in Calvert City, Kentucky, at an investment of approximately $43 million. The venue has 225 historical racing machines, a retail sportsbook and simulcast wagering, and will support purse funding for Oak Grove Racing, Gaming & Hotel’s racing meet.
The venue adds historical racing machines and retail sports betting capacity to Churchill Downs’ Kentucky operations.
Quarter ended 30 September 2026
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Churchill Downs has agreed to acquire the intellectual property and associated rights for the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC in a reported $85m transaction. The rights remain subject to an exclusive licence arrangement, under which Churchill Downs will need to license them to the State of Maryland for an annual fee.
Churchill Downs will not authorise prediction markets to offer contracts tied to the Kentucky Derby, chief executive Bill Carstanjen said on an earnings call, according to the report. He said operators need the company’s express consent to use its horse-racing content and that Churchill Downs had not agreed to provide it.
Churchill Downs has asked the Federal Trade Commission to review the Horseracing Integrity and Safety Authority after several incidents raised concerns about integrity and governance. HISA said it was already communicating with the FTC, attributed a delayed doping disclosure to changes in its suspension process and said it had fixed a portal vulnerability.
Churchill Downs reported second-quarter revenue of $980 million, up 5% year on year, and said adjusted EBITDA rose 6% to $477 million. Separately, it agreed to acquire NYRA Content Management Solutions’ remaining 49% stake in United Tote, with closing expected around 5 August subject to customary conditions.
Churchill Downs’ historical horse racing machine revenue in Virginia fell by a blended 5.6% in October, with Richmond-area parlours recording larger declines, according to reported figures. Colonial Downs revenue dropped 18.1% to $3.5 million, while the Richmond-area Rosie’s generated $10.4 million, down 17.8%.
Churchill Downs owns every one of the historical horse racing machines, and the combined rate for them was minus 5.6 percent. Without counting Richmond, the historical horse racing machines saw a two percent slippage. Only two of the Churchill Downs properties ended the month revenue-positive.