Churchill Downs is reviewing strategic alternatives that could include selling Oxford Casino in Maine, according to local media reports. The company said it has not decided to sell any properties and gave no timeline for the review.
A sale could change ownership of a Maine casino and Churchill Downs’ property portfolio.
Quarter ended 30 September 2026
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Analysts discussed Churchill Downs, Boyd Gaming and wider gaming-sector prospects in notes dated 20, 23 and 25 October. David Katz estimated Churchill Downs’ Visa sponsorship of the Kentucky Derby at $3m-$8m, while David Bain said he expected Boyd Gaming’s company-wide EBITDA to be flat year on year in Q4 2026.
Churchill Downs is considering selling nine regional casinos, a process it disclosed with its second-quarter results on 29 July. Truist Securities analyst Barry Jonas said tribal operators and private equity could be interested, while naming Boyd Gaming and Monarch Casino as potential bidders; neither company has publicly expressed interest. The venues may be sold individually or in small groups, and Jonas said a deal is unlikely before later this year.
Churchill Downs is exploring the sale of nine regional casinos, and Truist Securities analysts said several prospective buyers could emerge as the process advances. The company disclosed the plan when it reported second-quarter results on 29 July.
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.