Churchill Downs Incorporated is the parent company of
Churchill Downs
Churchill Downs is a horse racing complex located on Central Avenue in south Louisville, Kentucky, United States, famed for hosting the annual Kentucky Derby. It officially opened in 1875 and was named for Samuel Churchill, whose family was p ...
. The company has evolved from one racetrack in
Louisville, Kentucky
Louisville ( , , ) is the largest city in the Commonwealth of Kentucky and the 28th most-populous city in the United States. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County, on the Indiana border ...
, to a multi American-state-wide, publicly traded company with racetracks, casinos and an online wagering company among its portfolio of businesses.
History
Churchill Downs Incorporated began with the opening of one legendary racetrack in Louisville, Kentucky, in 1875. While traveling in England and France in 1872–1873, 26-year-old
Meriwether Lewis Clark Meriwether Clark may refer to:
* Meriwether Lewis Clark Sr., Meriwether Lewis Clark (1809–1879), U.S. Army officer and Confederate general in the American Civil War
* Meriwether Lewis Clark Jr. (1846–1899), American businessman and horse racing ...
devised the idea of a Louisville Jockey Club for conducting race meets. Clark toured and visited with a number of notable racing leaders, including England's Admiral Rous and France's Vicomte Darn, vice president of the French Jockey Club.
Upon his return from Europe, Clark began development of his racetrack, which would serve to showcase the Kentucky breeding industry. The track would eventually become known as Churchill Downs.
The track formally opened on May 17, 1875, with four races scheduled including the day's featured race, the Kentucky Derby.
In 1919, a syndicate of horse breeders established the Kentucky Jockey Club to consolidate the state's thoroughbred racing industry.
It acquired the four major tracks in the state: Churchill Downs,
Latonia Race Track, the
Kentucky Association track in
Lexington
Lexington may refer to:
Places England
* Laxton, Nottinghamshire, formerly Lexington
Canada
* Lexington, a district in Waterloo, Ontario
United States
* Lexington, Kentucky, the largest city with this name
* Lexington, Massachusetts, the oldes ...
, and Douglas Park in Louisville.
Douglas Park was closed and eventually donated to the
American Legion
The American Legion, commonly known as the Legion, is a non-profit organization of U.S. war veterans headquartered in Indianapolis, Indiana. It is made up of state, U.S. territory, and overseas departments, and these are in turn made up of ...
, while the Lexington track was sold to a group of local businessmen in 1923.
The Jockey Club decided to dissolve in December 1927, with the purpose of re-organizing. In January 1928, the American Turf Association was formed as the new holding company for Churchill Downs and six other tracks. The entity that is Churchill Downs Incorporated today was created at that time as the operating company for Churchill Downs.
From 1929 through 1942, the holding company started to reduce the number of tracks. By 1937, there were only three tracks left.
In January 1937, the operating companies for Churchill Downs and Latonia Race Track were merged to create Churchill Downs–Latonia Incorporated. Business at Latonia declined, and it held its last races in 1939. In 1942, the Latonia property was sold to
Standard Oil of Ohio
The Standard Oil Company (Ohio) was an American oil company, a successor of the original company established in 1870 by John D. Rockefeller. It was established as "Standard Oil Company of Ohio" as one of the separate entities created after t ...
, and the operating company's name was changed to Churchill Downs, Incorporated.
The American Turf Association sold
Lincoln Fields in 1947, leaving Churchill Downs as its only operation. In April 1950, Churchill Downs, Inc., became an independent company, as its stock was distributed to shareholders of the American Turf Association, which then dissolved.
After
simulcasting
Simulcast (a portmanteau of simultaneous broadcast) is the broadcasting of programmes/programs or events across more than one resolution, bitrate or medium, or more than one service on the same medium, at exactly the same time (that is, simultane ...
became commonplace in the early 1990s, the racetrack decided to expand its holdings and move into the simulcasting industry. In 1991, Churchill Downs bought the struggling
Louisville Downs harness track, which was closed and converted to a satellite wagering and training facility.
In 1994, Churchill Downs began to expand its holdings, with plans to partner with a new racetrack in
Indiana
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th ...
. The plan resulted in the purchase of
Hoosier Park
Harrah's Hoosier Park Racing & Casino is a racino including a standardbred racetrack located in Anderson, Indiana, approximately 30 miles northeast of Indianapolis. It is owned and operated by Caesars Entertainment. The facility features live harne ...
from businessman Louis Carlo.
In 1998, CDI purchased
Ellis Park Race Course near
Henderson, Kentucky. In 1999, the company acquired
Calder Race Course
Calder Casino is a casino located in Miami Gardens, Florida. It includes slots, electronic table games, and bingo.
The casino opened in 2010 and features a gaming floor with 1,100 slot machines, including video poker, as well as electronic r ...
and
Hollywood Park Racetrack
Hollywood Park was a thoroughbred race course located in Inglewood, California, about 3 miles (5 km) from Los Angeles International Airport and adjacent to the Forum indoor arena. In 1994, the original Hollywood Park Casino was added to ...
from
Pinnacle Entertainment
Pinnacle Entertainment, Inc. was an American gambling and hospitality company. It was acquired by Penn National Gaming in 2018. At the time of acquisition, it operated sixteen casino properties, located in Colorado, Indiana, Iowa, Louisiana, Miss ...
In 2000, CDI merged with
Arlington Park
Arlington International Racecourse (formerly Arlington Park, the name was Arlington Park Jockey Club from as soon as 1948 up to 1955) was a horse race track in the Chicago suburb of Arlington Heights, Illinois. Horse racing in the Chicago re ...
and the eight OTB's owned by Arlington. In 2004, Churchill Downs Incorporated finalized the purchase of
Fair Grounds Race Course
Fair Grounds Race Course, often known as New Orleans Fair Grounds, is a thoroughbred racetrack and racino in New Orleans, Louisiana. It is operated by Churchill Downs Louisiana Horseracing Company, LLC.
As early as 1838 Bernard de Marigny, Ju ...
.
In April 2002, Churchill Downs Incorporated established the Green Pastures Program in partnership with the
Thoroughbred Retirement Foundation, a leading American racehorse rescue and adoption organization.
In 2005, Hollywood Park was sold to
Bay Meadows Land Company for $257.5 million, and Ellis Park was sold to businessman Ron Geary in September 2006. In December 2006, Churchill Downs Inc. sold its remaining interest in Hoosier Park to Centaur Inc. In the fall of 2007, Fair Grounds reopened to include a gaming facility adjacent to the track grandstand. In January 2010, Churchill Downs added the casino venue to Calder Race Course.
On May 2, 2007, CDI launched its advance deposit wagering service, TwinSpires (www.twinspires.com). TwinSpires.com is the official advance-deposit wagering service for Churchill Downs Incorporated and its family of racetracks, as well for the Kentucky Derby and Kentucky Oaks. TwinSpires.com offers wagering on races from the country's most popular racetracks. TwinSpires.com includes the assets of Youbet.com, which Churchill Downs Incorporated acquired in June 2010.
The company acquired
Harlow's Casino Resort in
Greenville, Mississippi
Greenville is a city in and the county seat of Washington County, Mississippi, United States. The population was 34,400 at the 2010 census. It is located in the area of historic cotton plantations and culture known as the Mississippi Delta.
H ...
, in December 2010 for $138 million. In October 2012, the company acquired the
Riverwalk Casino and Hotel in
Vicksburg, Mississippi
Vicksburg is a historic city in Warren County, Mississippi, United States. It is the county seat, and the population at the 2010 census was 23,856.
Located on a high bluff on the east bank of the Mississippi River across from Louisiana, Vi ...
for $141 million.
In December 2012, Churchill Downs partnered with
Delaware North to buy
Lebanon Raceway
Miami Valley Gaming is a harness racing track and casino (a "racino") in Turtlecreek Township, Ohio. It opened in 2013 as a replacement for Lebanon Raceway, located in nearby Lebanon. The track conducts seasonal live racing on Friday and Saturda ...
in
Lebanon, Ohio for $60 million. Ohio had recently authorized slot machines at racetracks, which the companies took advantage of by transferring the racing license to a new $215-million facility built between
Cincinnati
Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line w ...
and
Dayton
Dayton () is the sixth-largest city in the U.S. state of Ohio and the county seat of Montgomery County. A small part of the city extends into Greene County. The 2020 U.S. census estimate put the city population at 137,644, while Greater Da ...
. The new racino,
Miami Valley Gaming, opened in December 2013.
In July 2013, Churchill Downs bought the
Oxford Casino in
Oxford, Maine for $160 million.
In May 2014, CDI and Saratoga Casino Holdings announced a partnership to bid for the
Capital Region's casino license, proposing a $300-million destination resort casino in
East Greenbush, New York
East Greenbush is a town in Rensselaer County, New York, United States. It is a suburb of Albany. The population was 16,473 at the 2010 census. The word Greenbush is derived from the Dutch ''het groen bosch,'' referring to the pine woods that ori ...
. In October 2014, Churchill agreed to purchase a 25 percent interest in Saratoga, and signed on to manage
Saratoga Casino and Raceway, Saratoga Casino Black Hawk, and the proposed Capital View Casino & Resort. The casino proposal was rejected, however, in favor of
Rivers Casino.
In December 2014, the company acquired
Big Fish Games, a developer of
casual games
A casual game is a video game targeted at a mass market audience, as opposed to a hardcore game, which is targeted at hobbyist gamers. Casual games may exhibit any type of gameplay and genre. They generally involve simpler rules, shorter sessio ...
, in a deal valued at up to $885 million. It then sold Big Fish Games in 2018 to
Aristocrat Leisure for $990 million.
The company partnered with Saratoga to purchase
Ocean Downs, a harness racing track and casino in Maryland, in January 2017. Churchill Downs took full ownership of Ocean Downs in September 2018, swapping its 25 percent stake in Saratoga for Saratoga's 50 percent stake in the track.
In April 2017, the company purchased advance-deposit wagering website
BetAmerica.
In February 2018, Churchill Downs agreed to purchase two casinos (
Presque Isle Downs
Presque Isle Downs & Casino is a casino and horse racing track near Erie, Pennsylvania, owned and operated by Churchill Downs Inc.
History
The developer, MTR Gaming Group, broke ground in October 2005 for the new facility, which opened on Februar ...
in Pennsylvania and
Lady Luck Casino Vicksburg
Bally's Vicksburg is a riverboat casino and hotel in Vicksburg, Mississippi. It is owned and operated by Bally's Corporation. It has of gaming space and 89 hotel rooms.
History
The project was initiated by the Rainbow Casino Corporation (RCC), m ...
in Mississippi) from
Eldorado Resorts for a total of $230 million. The purchase of the Lady Luck was later canceled because of
antitrust concerns, and Churchill Downs instead agreed to buy the operations of
Lady Luck Casino Nemacolin in Pennsylvania for $100,000. The purchases were completed in early 2019.
In September 2018, the company opened
Derby City Gaming Derby City Gaming officially opened on Friday September 14, 2018. The 85,000 square foot, $65 million-dollar facility is Louisville, Kentucky’s only licensed gaming facility. It includes 1,000 historical racing machines, with over 70 themes, on th ...
, a $65-million
historical racing parlor, at the site of Louisville Downs.
In March 2019, Churchill Downs bought a 62 percent share in
Rivers Casino Des Plaines, a few miles away from Arlington Park, from
Neil Bluhm and his partners for $401 million. Later that year, Churchill purchased
Turfway Park in Northern Kentucky for $46 million, and announced the construction of a $100-million historical racing parlor at the property.
In March 2022, Churchill Downs acquired Chasers Poker Room in
Salem, New Hampshire
Salem is a town in Rockingham County, New Hampshire, United States. The population was 30,089 at the 2020 census. Being located on Interstate 93 as the first town in New Hampshire, which lacks any state sales tax, Salem has grown into a commer ...
. The company stated its interest in using the facility to launch horseracing operations on the site, making New Hampshire the fourth state in which Churchill Downs would operate horse racing.
In February 2022, Churchill Downs announced their agreement to purchase
Peninsula Pacific Entertainment
Peninsula Pacific Entertainment (P2E) is a casino gaming company based in Los Angeles. It began operations in 1999, doing business through a subsidiary, Peninsula Gaming. Its holdings grew to five properties, until 2012, when Peninsula Gaming was ...
for $2.5bn (£1.84bn/€2.19bn). This included Churchill Downs to gain assets in Virginia and New York, in addition to the operations of its Hard Rock-branded Sioux City casino property in Iowa.
In November 2022, the company acquired the bulk of the assets of
Peninsula Pacific Entertainment
Peninsula Pacific Entertainment (P2E) is a casino gaming company based in Los Angeles. It began operations in 1999, doing business through a subsidiary, Peninsula Gaming. Its holdings grew to five properties, until 2012, when Peninsula Gaming was ...
for $2.8 billion.
The acquisition added three major properties (
Colonial Downs
Colonial Downs is a racetrack located in New Kent County, Virginia adjacent to Interstate 64, halfway between Richmond and Williamsburg. The track conducted Thoroughbred flat racing and Standardbred harness racing between 1997 and 2014, and re ...
,
Del Lago Resort & Casino, and
Hard Rock Hotel & Casino Sioux City
Hard Rock Hotel & Casino Sioux City is a casino hotel in Sioux City, Iowa. It is owned and operated by Churchill Downs, Inc.
History
The proposal for Hard Rock Casino Sioux City was announced in October 2012. The $100-million project would be dev ...
) to Churchill Downs's portfolio, along with the
Rosie's Gaming Emporium
Rosie's Gaming Emporium is a chain of gambling parlors in the U.S. state of Virginia, owned by Churchill Downs, Inc. and affiliated with its Colonial Downs racetrack. The Rosie's brand was established in 2019. As of 2023, there are seven Rosie' ...
chain of historical racing parlors in Virginia, and the proposed One Casino & Resort in
Richmond, Virginia
(Thus do we reach the stars)
, image_map =
, mapsize = 250 px
, map_caption = Location within Virginia
, pushpin_map = Virginia#USA
, pushpin_label = Richmond
, pushpin_m ...
.
Economics and stock
Churchill Downs Incorporated is listed on the
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
as CHDN. The company is the most profitable track owner in the horse racing industry.
Holdings
Churchill Downs Incorporated owns the following racetrack and casino properties:
*
Calder Casino —
Miami Gardens, Florida
Miami Gardens is a city in north-central Miami-Dade County, Florida. It is located north of Downtown Miami with city boundaries that stretch from I-95 and Northeast 2nd Avenue to its east to Northwest 47th and Northwest 57th Avenues to its w ...
*
Colonial Downs
Colonial Downs is a racetrack located in New Kent County, Virginia adjacent to Interstate 64, halfway between Richmond and Williamsburg. The track conducted Thoroughbred flat racing and Standardbred harness racing between 1997 and 2014, and re ...
—
New Kent County, Virginia
New Kent County is a county in the eastern part the Commonwealth of Virginia. As of the 2020 United States Census, its population was 22,945. Its county seat is New Kent.
New Kent County is included in the Greater Richmond Region.
History ...
*
Churchill Downs
Churchill Downs is a horse racing complex located on Central Avenue in south Louisville, Kentucky, United States, famed for hosting the annual Kentucky Derby. It officially opened in 1875 and was named for Samuel Churchill, whose family was p ...
—
Louisville, Kentucky
Louisville ( , , ) is the largest city in the Commonwealth of Kentucky and the 28th most-populous city in the United States. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County, on the Indiana border ...
*
Del Lago Resort and Casino
del Lago Resort and Casino is a casino hotel in Tyre, New York, owned and operatedo by Churchill Downs, Inc. It opened in 2017 at a cost of $440 million.
Facilities
The casino features 1,702 slot machines, 66 table games, and 14 poker tables.
...
—
Tyre, New York
Tyre is a town in Seneca County, New York, United States. The population was 1,002 at the 2020 census. The town is named after the Lebanese city of Tyre.
The Town of Tyre is located in the northeastern part of the county, northeast of Geneva ...
*
Derby City Gaming Derby City Gaming officially opened on Friday September 14, 2018. The 85,000 square foot, $65 million-dollar facility is Louisville, Kentucky’s only licensed gaming facility. It includes 1,000 historical racing machines, with over 70 themes, on th ...
—
Louisville, Kentucky
Louisville ( , , ) is the largest city in the Commonwealth of Kentucky and the 28th most-populous city in the United States. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County, on the Indiana border ...
*
Fair Grounds Race Course and Slots —
*
Hard Rock Hotel & Casino Sioux City
Hard Rock Hotel & Casino Sioux City is a casino hotel in Sioux City, Iowa. It is owned and operated by Churchill Downs, Inc.
History
The proposal for Hard Rock Casino Sioux City was announced in October 2012. The $100-million project would be dev ...
—
Sioux City, Iowa
Sioux City () is a city in Woodbury and Plymouth counties in the northwestern part of the U.S. state of Iowa. The population was 85,797 in the 2020 census, making it the fourth-largest city in Iowa. The bulk of the city is in Woodbury County ...
*
Harlow's Casino Resort —
Refuge, Mississippi
Refuge is an unincorporated community located in Washington County, Mississippi, United States.
Refuge Landing was located west of the settlement, directly on the Mississippi River.
History
Francis Griffin purchased land in 1831 on a high ridge ...
*
Lady Luck Casino Nemacolin —
Farmington, Pennsylvania
*
Miami Valley Gaming —
Turtlecreek Township, Ohio (50% stake)
*
Newport Racing & Gaming —
Newport, Kentucky
*
Oak Grove Racing, Gaming & Hotel —
Oak Grove, Kentucky
*
Ocean Downs —
Berlin, Maryland
Berlin is a town in Worcester County, Maryland, United States which includes its own historical Berlin Commercial District. The population was 4,485 at the 2010 census, and has since grown in population. It is part of the Salisbury, Maryland ...
*
Oxford Casino —
Oxford, Maine
*
Presque Isle Downs
Presque Isle Downs & Casino is a casino and horse racing track near Erie, Pennsylvania, owned and operated by Churchill Downs Inc.
History
The developer, MTR Gaming Group, broke ground in October 2005 for the new facility, which opened on Februar ...
—
Summit Township, Pennsylvania
*
Rivers Casino —
Des Plaines, Illinois
Des Plaines is a city in Cook County, Illinois, United States. Per the 2020 census, the population was 60,675. The city is a suburb of Chicago and is located just north of O'Hare International Airport. It is situated on and is named after the ...
(62% stake)
*
Riverwalk Casino Hotel —
Vicksburg, Mississippi
Vicksburg is a historic city in Warren County, Mississippi, United States. It is the county seat, and the population at the 2010 census was 23,856.
Located on a high bluff on the east bank of the Mississippi River across from Louisiana, Vi ...
*
Turfway Park —
Florence, Kentucky
Florence is a home rule-class city in Boone County, Kentucky, United States. Florence is the second largest city located in Northern Kentucky, after Covington, and part of the Greater Cincinnati Metropolitan Area. The population was 31,946 a ...
The company's other business holdings include:
*
Bluff Media
*
Rosie's Gaming Emporium
Rosie's Gaming Emporium is a chain of gambling parlors in the U.S. state of Virginia, owned by Churchill Downs, Inc. and affiliated with its Colonial Downs racetrack. The Rosie's brand was established in 2019. As of 2023, there are seven Rosie' ...
*TwinSpires
*
United Tote
References
{{coord, 38.254977, N, 85.580740, W, type:landmark, display=title
Horse racing companies
Horse racing venue owners
Companies listed on the Nasdaq
Gambling companies of the United States
Companies based in Louisville, Kentucky