Churchill Downs reported second-quarter 2024 revenue of $890.7 million and EBITDA of $444.8 million, both company records. Chief executive Bill Carstanjen said the company plans an $85 million grandstand renovation, while new historical racing machine venues are expected in Kentucky and Virginia.
The reported results and planned capital projects provide operators and investors with updates on Churchill Downs' performance and expansion plans.
Quarter ended 30 September 2026
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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.
It was reported that Churchill Downs intends to divest nine regional properties through separate transactions or smaller packages. The company has not given prices, buyers or a timetable, and expects proceeds to support debt reduction, investment and repurchases.
Churchill Downs said it is considering selling nine regional gaming properties in the United States and has engaged Macquarie Capital to assist. Chief executive Bill Carstanjen said the properties could be sold individually or in small groups; the company said it would use any proceeds to reduce leverage, reinvest selectively and fund share repurchases.
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 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.