Profile: Churchill Downs Inc (CHDN.O)
13 Jul 2018
Churchill Downs Incorporated, incorporated on February 17, 1937, is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.
The Racing segment includes four racetracks: Churchill Downs Racetrack (Churchill Downs), Arlington International Race Course (Arlington), Fair Grounds Race Course (Fair Grounds) and Calder Race Course (Calder). It conducts live horseracing at Churchill Downs, Arlington and Fair Grounds. Churchill Downs is located in Louisville, Kentucky and is a thoroughbred racing operation known as the home of the iconic Kentucky Derby. The Churchill Downs facility consisted of approximately 147 acres of land with a one-mile dirt track, a 0.875-mile turf track, a grandstand, luxury suites and a stabling area, as of December 31, 2016. It also accommodated approximately 59,000 patrons in its clubhouse, grandstand, Jockey Club Suites, Finish Line Suites, Turf Club, Grandstand Terrace, Rooftop Garden and Mansion, as of December 31, 2016. It also has a saddling paddock, accommodations for groups and special events and parking areas for the public. Its racetrack also has permanent lighting in order to accommodate night races. The stable area had barns sufficient to accommodate approximately 1,400 horses and a 114-room dormitory for backstretch personnel, as of December 31, 2016. The Churchill Downs facility also includes a simulcast wagering facility. The Mansion of the Company provided accommodations for 298 guests, as of December 31, 2016. It also opened Grandstand Terrace and Rooftop Garden, which together added 2,400 new seats, wagering windows, and food and beverage offerings, as of December 31, 2016.
Churchill Downs also operates winner's circle suites and a courtyard. As of December 31, 2016, the winner's circle suites included 20 private, open-air suites reserved specifically for Kentucky Oaks and Kentucky Derby horsemen. The courtyard is a spacious lawn area in front of the winner's circle suites. Its Turf Club is a members-only lounge and dining room located in the clubhouse section of Churchill Downs, directly overlooking the racetrack's finish line. As of December 31, 2016, it also provided additional stabling and training facilities sufficient to accommodate 500 horses and a three-quarter mile dirt track at a facility known as Trackside Louisville, which is located approximately five miles from the racetrack facility.
The Arlington racetrack is located in Arlington Heights, Illinois and is a thoroughbred racing operation with 10 off-track betting facilities (OTBs). The Arlington racetrack hosts a stakes race, the Arlington Million. As of December 31, 2016, the racetrack was located on 336 acres, had a one and 0.125-mile synthetic track, a one-mile turf track and a 0.625-mile training track. The facility included a clubhouse, grandstand and suite seating for approximately 7,500 persons, and food and beverage facilities, as of December 31, 2016. The stable area can accommodate 2,200 horses and had 546 rooms of temporary housing, as of December 31, 2016. The Fair Grounds racetrack is located in New Orleans, Louisiana and is a racing operation with 12 OTBs in Louisiana. The Fair Grounds racetrack hosts a stakes race, the Louisiana Derby. As of December 31, 2016, the Fair Grounds facility consisted of approximately 145 acres of land, a one-mile dirt track, a 0.875 mile turf track, a grandstand and a stabling area. The facility included clubhouse and grandstand seating for approximately 5,000 persons, a general admissions area and food and beverage facilities, as of December 31, 2016. The stable area consisted of barns that can accommodate 1,897 horses and living quarters for 132 people, as of December 31, 2016.
Calder is located in Miami Gardens, Florida and is adjacent to Hard Rock Stadium, home of the Miami Dolphins. Calder is a thoroughbred racing facility. It consisted of approximately 170 acres of land with a one-mile dirt track, 0.875-mile turf track, barns and stabling facilities, as of December 31, 2016.
The Casinos segment is a provider of brick-and-mortar real-money casino gaming with approximately 9,030 gaming positions located in seven states. It owns five casinos (Oxford Casino, Riverwalk Casino, Harlow's Casino, Calder Casino and Fair Grounds Slots and Video Services, LLC) and two hotels (Riverwalk and Harlow's). Oxford Casino (Oxford) is located in Oxford, Maine. Oxford is a 27,000 square-foot casino. It consisted approximately 870 slot machines, 28 table games and two dining facilities on approximately 97 acres of land, as of December 31, 2016. Its Riverwalk Casino (Riverwalk) is located in Vicksburg, Mississippi. Riverwalk is a 25,000 square-foot casino. It consisted of approximately 640 slot machines, 15 table games, a five-story 80-room attached hotel and two dining facilities on approximately 22 acres of land, as of December 31, 2016.
Harlow's Casino (Harlow's) is located in Greenville, Mississippi and is a 33,000 square-foot casino. As of December 31, 2016, it consisted of approximately 740 slot machines, 15 table games, a 105-room attached hotel, a 5,600 square-foot multi-functional event center and four dining facilities. Calder Casino is located in Miami Gardens, Florida near Hard Rock Stadium and is adjacent to Calder Race Course. It is a 106,000 square-foot facility and consisted of approximately 1,090 slot machines and two dining facilities on a single-level, as of December 31, 2016. Its Fair Grounds Slots is located in New Orleans, Louisiana adjacent to Fair Grounds Race Course. Fair Grounds Slots is a 33,000 square-foot slot facility and it operated approximately 620 slot machines with two concession areas, a bar, a simulcast facility and other amenities for slots and pari-mutuel wagering patrons, as of December 31, 2016. Video Services, LLC (VSI) owned and operated approximately 790 video poker machines in 10 OTBs in Louisiana, as of December 31, 2016.
The TwinSpires segment includes TwinSpires.com, Fair Grounds Account Wagering (FAW), Velocity, Churchill Downs Interactive Gaming (I-Gaming), Bluff Media (Bluff) and Bloodstock Research Information Services (BRIS). TwinSpires.com is headquartered in Louisville, Kentucky and operates mobile and online wagering business, which is a platform for betting on horseracing. It is the egal online gaming platform in the United States. TwinSpires accepts pari-mutuel wagers from customers residing in certain states establishing and funding an account, from which they may place wagers via telephone, mobile device (through a browser or the TwinSpires mobile application) or through the Internet at www.twinspires.com. It offers its customers streaming video of live horse races, as well as replays, and an assortment of racing and handicapping information. In addition, it provides technology services to third parties, and earns commissions from white label advance deposit wagering products and services. Under these arrangements, it provides a deposit wagering platform and related operational services while the third party typically provides a brand name, marketing and limited customer functions. Its FAW business is a mobile and online wagering business. Its Velocity is a mobile and online wagering business, which focuses on high dollar wagering international customers.
The Company's I-Gaming is the Internet real-money gaming operation. Bluff operated a multimedia poker periodical (BLUFF Magazine and BluffMagazine.com), maintained an online database (ThePokerDB) that tracked and ranked the performance of poker players and tournaments, and provided various other news and content forums. BRIS is a data service provider with computerized databases of handicapping and pedigree information for the thoroughbred horse industry. It provided special reports, statistical information, handicapping information, pedigrees and other data through its Websites, Brisnet.com and TwinSpires.com.
Other Investments Segment
The Other Investments segment includes United Tote, Capital View Casino & Resort Joint Venture (Capital View) and other minor investments. The Company's subsidiaries, United Tote Company and United Tote Canada (collectively United Tote), manufacture and operate pari-mutuel wagering systems for racetracks, OTBs and other pari-mutuel wagering businesses. United Tote provides totalisator services which accumulate wagers, record sales, calculate payoffs and display wagering data to patrons who wager on horse races. United Tote has contracts to provide totalisator services to a number of third-party racetracks, OTBs and other pari-mutuel wagering businesses and also provides these services at many of its facilities.
The Company competes with Horseshoe Indiana, Belterra Casino, Indiana and French Lick Resort, Hoosier Park, Indiana Grand Racing & Casino, Mountaineer Casino Racetrack and Resort, Aqueduct Racetrack, Hawthorne Race Course, Rivers Casino, Louisiana Downs, Evangeline Downs, Harrah's Louisiana Downs, Delta Downs, Gulfstream Park, Oaklawn Park, Hollywood Casino, Plainridge Park Casino, Ameristar Casino, Lady Luck Casino, WaterView Casino & Hotel, Magnolia Bluff Casino, Pearl River Resort, Trop Casino, Hollywood Gaming, JACK Cincinnati, Dover Downs Hotel, Betfair Limited The Stronach Group, Premier Turf Club, Lien Games, AmWest Entertainment, The New York Racing Association, Connecticut OTB, Penn National Gaming Inc., Racing2Day LLC, Equibase, Daily Racing Form, Caesars Interactive, Zynga, IGT, Sportech and AmTote International, Inc.
Churchill Downs Inc
600 N Hurstbourne Pkwy Ste 400
LOUISVILLE KY 40222-5389
Company Web Links
- Half of Americans support expanding U.S. sports betting: poll
- Half of Americans support expanding U.S. sports betting - poll
- Churchill Downs in deal to enter sports betting in three states
- UPDATE 1-Churchill Downs in deal to enter sports betting in three states
- Churchill Downs inks deal for online sports betting in New Jersey