chdn stock: Churchill Downs Guide
CHDN (Churchill Downs Incorporated)
chdn stock refers to Churchill Downs Incorporated, traded under the ticker CHDN on the Nasdaq exchange. Churchill Downs is a U.S.-based entertainment company focused on horse racing, online wagering and casino gaming and is best known as the home of the Kentucky Derby and the TwinSpires wagering brand. This article gives a comprehensive, single-place reference for chdn stock — what the company does, how it makes money, its history, governance, financial profile, trading details and the regulatory and risk factors that matter to stakeholders.
Company overview
chdn stock represents ownership in Churchill Downs Incorporated, a diversified U.S. gaming and racing company. The firm operates flagship racetracks, a national online wagering business, casinos and historical-racing facilities, and provides pari-mutuel tote and wagering services to third parties.
As of 2026-01-28, according to Nasdaq and Churchill Downs Incorporated investor materials, chdn stock is listed on the Nasdaq exchange under ticker CHDN. The company is headquartered in Louisville, Kentucky, and was incorporated in the 20th century with roots stretching back to the 19th century racetrack operations. The company employs several thousand people across its racetracks, casinos, corporate offices and digital operations. Major business segments include Live Racing & Historical Racing, Wagering Services & Solutions (including TwinSpires), and Gaming (casino operations and resort amenities).
Key high-level facts about chdn stock and the company (figures are approximate and should be confirmed via official filings):
- Market listing: Nasdaq (ticker CHDN).
- Primary businesses: horse racing, online pari-mutuel wagering (TwinSpires), casino gaming and pari-mutuel/tote services.
- Headquarters: Louisville, Kentucky.
- Notable brand: Kentucky Derby, TwinSpires.
History
This section summarizes Churchill Downs Incorporated’s origins and major corporate milestones that shaped its transformation from a single-track operator into a diversified gaming and wagering company.
Formation and early years
chdn stock traces its commercial lineage to the Churchill Downs racetrack, the historic Louisville venue where the Kentucky Derby has been run since the 19th century. The racetrack and the Derby established the company’s brand identity and created a marquee annual event that drives substantial media, sponsorship and wagering interest.
The early business model centered on live racing, admissions, hospitality and pari-mutuel betting at the track. Over decades, the enterprise expanded its footprint by adding other racetracks and reinvesting Derby-related revenues into operations and promotions that strengthened the Churchill Downs name in thoroughbred racing.
Expansion and acquisitions
In the later 20th and early 21st centuries, Churchill Downs Incorporated shifted from being primarily a racetrack operator to a broader gaming and wagering company. Major strategic moves included:
- Acquisitions of regional racetracks and historical-racing locations to scale live-event revenue and diversify geographic exposure.
- Entry and investment into online wagering, including the development and promotion of TwinSpires as the company’s national online pari-mutuel brand.
- Expansion into casino gaming through purchase or development of land-based casino properties and associated hospitality businesses.
- Growth of wagering services and tote-based B2B solutions, providing technology and operational know-how to other racing and gaming operators.
These expansion steps repositioned the company’s revenue mix and enabled chdn stock to be viewed by investors as a play on both destination gaming and growing online wagering volumes.
Business segments and operations
Churchill Downs Incorporated reports its business through primary segments that reflect the company’s operational diversity. Each segment contributes to revenue, operating income and cash flow in distinct ways.
Live and Historical Racing
The Live and Historical Racing segment covers operations of the company’s racetracks, signature live racing events (notably the Kentucky Derby weekend), and historical racing facilities. Revenue streams include admissions, pari-mutuel wagering at tracks, sponsorships, broadcast and media rights related to major events, and on-site food, beverage and hospitality sales.
Live racing is seasonal and concentrated around peak events. Historical racing machines and simulcasting also produce recurring revenue but can be more dependent on state-specific regulatory frameworks.
Wagering Services and Solutions
Wagering Services and Solutions covers TwinSpires (the company’s online pari-mutuel wagering platform), tote operations, and technology-based services provided to third-party operators. This segment includes online horse betting, mobile wagering, account management, and licensing or service agreements for tote systems.
TwinSpires is a national-facing brand that allows account-based online betting on horse racing and, where permitted, other pari-mutuel markets. The platform provides an important digital growth channel and a way to monetize live racing interest year-round.
Gaming
The Gaming segment encompasses land-based casinos, gaming floors, hotels, restaurants and entertainment offerings. Casinos generate revenue from table games, slots, hospitality (rooms), food and beverage, and other patron services.
Diversifying into casino operations helped Churchill Downs reduce reliance on seasonal race-day revenue and capture higher-margin gaming flows year-round.
Brands, properties and subsidiaries
Notable assets and brands under the Churchill Downs Incorporated umbrella include:
- Churchill Downs racetrack (home of the Kentucky Derby) — the company’s flagship property and most recognizable brand asset.
- TwinSpires — the company’s online pari-mutuel wagering and account platform for horse racing.
- Regional racetracks and stake properties — a portfolio of racetracks across U.S. states where Churchill Downs operates live racing and simulcast wagering.
- Casino properties — land-based casinos and resort facilities in markets where the company owns and operates gaming floors.
- Wagering technology & tote operations — business lines offering B2B services and wagering infrastructure.
These assets collectively support the chdn stock investment case as a diversified entertainment and wagering operator.
Corporate governance and management
Churchill Downs Incorporated is governed by a board of directors and managed by an executive leadership team. Typical public-company governance features include a non-executive chair or independent directors, audit and compensation committees, and investor relations communications.
As of the latest public reporting periods, the company publishes executive officer biographies, board compositions and governance documents via its investor relations resources. Investors and stakeholders should consult the company’s investor relations pages and SEC filings for the latest names, executive changes and governance materials.
Investor relations resources are the authoritative place for updated information on directors, the CEO, CFO, committee memberships and corporate governance policies.
Financial performance
This section summarizes the types of financial metrics most commonly used to assess chdn stock and where to find verified data.
As of 2026-01-28, according to Churchill Downs Incorporated investor relations materials and public market data providers (Nasdaq, Yahoo Finance), investors commonly track the following metrics for chdn stock: total revenue, net income, adjusted EBITDA, earnings per share (EPS), operating margins, free cash flow, and balance-sheet items such as cash and debt levels.
For the latest quarterly and annual figures, refer to the company’s SEC filings and investor presentations. These sources provide audited results, segment breakdowns and management discussion that put raw numbers in context.
Recent financial results
Recent quarterly reports typically highlight revenue trends across Live Racing, Wagering Services and Gaming. Management commentary often emphasizes factors such as major event revenues (e.g., Derby weekend), digital wagering growth on TwinSpires, gaming floor performance, and the impact of regulatory or tax changes in state jurisdictions.
Investors looking at chdn stock should examine year-over-year comparisons for the same periods (to account for seasonality), adjusted EBITDA trends, and free cash flow conversion to understand sustainable profitability.
Stock information
chdn stock trades under ticker CHDN on Nasdaq. Standard market particulars for public equities apply: the stock has pre-market and after-hours trading sessions, a regular market session, and typical liquidity metrics such as average daily trading volume, market capitalization, shares outstanding and float.
As of 2026-01-28, according to Nasdaq and Yahoo Finance, chdn stock had an approximate market capitalization in the low-to-mid billions of U.S. dollars and a typical daily trading volume measured in the hundreds of thousands of shares. For precise figures at the current moment, consult real-time quotes on financial data platforms or the company’s investor relations.
Price history and performance
Historical price performance for chdn stock reflects a mix of event-driven volatility (Derby season), broader gaming and leisure sector trends, and company-specific news such as acquisitions, divestitures or quarterly results. Sources like Macrotrends provide multi-year charts and 52-week high/low figures that help contextualize performance.
Analysts and investors often look at multi-year returns, volatility measures and comparisons to peer groups in gaming and leisure to assess relative performance.
Dividends and shareholder returns
Churchill Downs Incorporated has historically returned capital to shareholders through dividends and share repurchases depending on cash generation and board decisions. Dividend yield, payout ratios and the existence of a repurchase program are documented in quarterly filings and investor communications.
For up-to-date dividend history, ex-dividend dates and yield, check the company’s investor relations or major financial data providers as of the date you are viewing chdn stock.
Valuation metrics and analyst coverage
Common valuation ratios applied to chdn stock include price-to-earnings (P/E), enterprise value-to-EBITDA (EV/EBITDA), price-to-sales (P/S) and price-to-book (P/B). Financial data platforms and broker research provide current ratios and consensus estimates.
As of the latest reporting windows, chdn stock is covered by several sell-side and independent research analysts. Consensus ratings and price targets are updated frequently; consult financial data providers and broker research summaries for the most recent analyst coverage.
Trading and markets
chdn stock typically trades on Nasdaq during regular U.S. market hours with available pre-market and after-hours liquidity. Options availability depends on exchange listings; larger, liquid names generally have listed options. Institutional and retail investors may trade the equity through their brokers or trading platforms.
If you use a trading platform, consider platform features such as real-time quotes, order types, and access to company filings. For users exploring trading venues or custodial features, Bitget’s platform offers a range of trading and wallet services; for equities specifically, confirm product availability and regulatory compliance with the platform.
Shareholders and ownership
Major institutional holders and insider ownership are disclosed in regulatory filings. Ownership breakdowns typically show a mix of mutual funds, ETFs, hedge funds and individual insiders. Public filings (institutional 13F reports, insider Section 16 filings) and financial data services report the largest shareholders and percent ownership.
To obtain up-to-date institutional ownership for chdn stock, consult SEC filings and recognized financial data providers.
Notable events and controversies
Important corporate events that have affected chdn stock historically include large acquisitions or asset sales, litigation or regulatory inquiries pertaining to racing or gaming, and operational incidents that materially affect revenue (for example, weather disruptions to racing events).
As of recent reporting windows, the company has faced standard industry issues such as state-level regulatory changes and market competition from other gaming and online wagering operators. Any material legal proceedings or regulatory remedies are disclosed in the company’s SEC filings and investor reports.
Regulatory and legal environment
Churchill Downs operates in a highly regulated environment. Key regulatory factors affecting chdn stock include:
- State gaming licenses and regulations — gaming (casinos) and pari-mutuel wagering require state approvals, license renewals and compliance with local statutes and taxes.
- Online wagering rules — TwinSpires and other online wagering services must comply with state-by-state laws for online pari-mutuel betting, consumer protections and geolocation requirements.
- Racing commissions — live racing and purse structures are often governed by state racing commissions that impact economics and scheduling.
Regulatory changes can materially affect local operations, the ability to expand digital wagering, the cost of doing business, and future growth prospects.
Risks
The principal risks related to chdn stock include:
- Regulatory and licensing risk: changes in state laws or licensing decisions can impact casino and wagering operations.
- Revenue cyclicality and seasonality: major events like the Kentucky Derby drive concentrated revenue spikes; absence or disruption of events affects results.
- Competition: both from other land-based operators and digital wagering platforms; market share shifts can pressure margins.
- Geographic concentration and market exposure: performance can be sensitive to specific regional economies and tourism trends.
- Operational risks: weather, public health events, or disruptions to racetrack or casino operations can reduce revenue.
Investors should review the company’s risk disclosures in SEC filings for a complete, company-specific description of risks.
Corporate social responsibility and community relations
Churchill Downs Incorporated engages in community-focused programs including charitable contributions, local economic development tied to racing and events, and responsible gaming initiatives. The company typically publishes information about corporate responsibility, sustainability efforts and community engagement in annual reports and sustainability disclosures.
Responsible gaming policies, patron protections and staff training are especially important given the company’s exposure to wagering activities.
See also
- Kentucky Derby (flagship annual event associated with Churchill Downs)
- TwinSpires (online wagering brand)
- U.S. gaming industry overview
- Major U.S. casino and racing operators
References
As of 2026-01-28, reported sources used to prepare this article include the following public information providers and company resources. For precise numerical values and the most recent figures, consult the original sources and the company’s filings:
- Yahoo Finance — Churchill Downs Incorporated (CHDN) (market quotes and summary data). Reported date: 2026-01-28.
- Churchill Downs Incorporated — Investor Relations / Stock Information (official filings, presentations and press releases). Reported date: 2026-01-28.
- Robinhood — CHDN stock page (stock summary). Reported date: 2026-01-28.
- Nasdaq — CHDN summary / market activity (listing information, market cap and trading metrics). Reported date: 2026-01-28.
- CNBC — CHDN quote & company profile (financial news and profile). Reported date: 2026-01-28.
- Macrotrends — CHDN historical price data (multi-year charts and historical highs/lows). Reported date: 2026-01-28.
- MarketWatch — Churchill Downs Inc. profile (company overview and financials). Reported date: 2026-01-28.
- Heygotrade / Gotrade — CHDN stock overview (retail-focused summary). Reported date: 2026-01-28.
- CNN Markets — CHDN facts & market context (market commentary). Reported date: 2026-01-28.
Note: All readers are advised to verify time-sensitive numeric figures such as market capitalization, share price, dividend yields and analyst price targets directly with the latest filings and real-time market data.
External links
Official sources (search the names below on your preferred search or investor platform — raw URLs are intentionally omitted):
- Churchill Downs Incorporated — Corporate website and Investor Relations
- U.S. Securities and Exchange Commission — EDGAR filings (search by company name or ticker CHDN)
- Financial data providers: Nasdaq, Yahoo Finance, Macrotrends, MarketWatch, CNBC
Reporting note: As of 2026-01-28, the references cited above were the primary public sources for corporate and market data used in this article. Where precise, dated numeric metrics are required (market cap, average volume, dividend amounts), consult the issuer’s investor relations or SEC filings for the most recent verified numbers.
Further exploration
If you wish to monitor chdn stock activity or review filings, visit the company’s investor relations page or check real-time quotes on your trading platform. For trading tools, custody and wallet services related to broader portfolio management, explore Bitget’s platform options and Bitget Wallet for secure asset management features.
