Churchill Downs Incorporated is the parent company of

Churchill Downs Churchill Downs is a horse racing complex in south Louisville, Kentucky, United States that hosts the annual Kentucky Derby. It opened in 1875 and was named for Samuel Churchill, whose family was prominent in Kentucky for many years. The first ...

. The company has evolved from one racetrack in

Louisville, Kentucky Louisville is the List of cities in Kentucky, most populous city in the Commonwealth of Kentucky, sixth-most populous city in the Southeastern United States, Southeast, and the list of United States cities by population, 27th-most-populous city ...

, 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 a racetrack in Louisville, Kentucky, in 1875. While traveling in England and France in 1872–1873, 26-year-old Meriwether Lewis Clark 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 The Kentucky Derby () is an American Graded stakes race, Grade I stakes Thoroughbred racing, race run at Churchill Downs in Louisville, Kentucky. The race is run by three-year-old Thoroughbreds at a distance of . Colt (horse), Colts and geldin ...

. 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 Latonia Race Track on Winston Avenue in Latonia ( Covington) Kentucky, six miles south of Cincinnati, Ohio, was a Thoroughbred horse racing facility opened in 1883. The track hosted a spring-summer racing series and a second in late fall. It w ...

, the Kentucky Association track in Lexington, 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 an Voluntary association, organization of United States, U.S. war veterans headquartered in Indianapolis, Indiana. It comprises U.S. state, state, Territories of the United States, U.S. terr ...

, 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 petroleum industry, petroleum company that existed from 1870 to 1987. The company, known commonly as Sohio, was founded by John D. Rockefeller. It was established as one of the separate entities cre ...

, 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 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, simultaneously) ...

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, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Michigan to the northwest, Michigan to the north and northeast, Ohio to the east, the Ohio River and Kentucky to the s ...

. 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 Eldorado Resorts, Caesars Entertainment. The facility ...

from businessman Louis Carlo. In 1998, CDI purchased

Ellis Park Race Course Ellis Park is a thoroughbred racetrack near Henderson, Kentucky, along US 41 between the Twin Bridges and Evansville, Indiana. It is owned and operated by Churchill Downs Incorporated. While the track is located north of the Ohio River that form ...

near

Henderson, Kentucky Henderson is a home rule-class city along the Ohio River and the county seat of Henderson County, Kentucky, United States. The population was 29,781 at the 2020 U.S. census. It is part of the Evansville–Henderson, IN–KY Combined Statis ...

. 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 rou ...

and

Hollywood Park Racetrack Hollywood Park was a thoroughbred horse racing, race course located in Inglewood, California, about 3 miles (5 km) from Los Angeles International Airport and adjacent to The Forum (Inglewood, California), the Forum indoor arena. In 1994, t ...

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, Mis ...

In 2000, CDI merged with

Arlington Park Arlington Park (formerly known as Arlington International Racecourse) is a former horse race track in the Chicago suburb of Arlington Heights, Illinois. Once called the ''Arlington Park Jockey Club'', it was located adjacent to the Illinois Rou ...

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, New Orleans, Louisiana. It is operated by Churchill Downs Louisiana Horseracing Company, LLC. The ''Carrollton Race Cours ...

. In April 2002, Churchill Downs Incorporated established the Green Pastures Program in partnership with the

Thoroughbred Retirement Foundation The Thoroughbred Retirement Foundation (TRF) is an American organization founded in 1982, whose mission is: "To save Thoroughbred horses no longer able to compete on the racetrack from possible neglect, abuse and slaughter." History Two years a ...

, 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 The Kentucky Oaks is a Grade I stakes race for three-year-old Thoroughbred fillies staged annually in Louisville, Kentucky, United States. The race currently covers at Churchill Downs; the horses carry . The Kentucky Oaks is held on the Frida ...

. 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 the List of municipalities in Mississippi, ninth-most populous city in the U.S. state of Mississippi, and the largest city by population in the Mississippi Delta region. It is the county seat of Washington County, Mississippi, Was ...

, 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. The population was 21,573 at the 2020 census. Located on a high bluff on the east bank of the Mississippi River across from Louisiana, Vicksburg ...

for $141 million. In December 2012, Churchill Downs partnered with

Delaware North Delaware North is an American multinational food service and hospitality company headquartered in Buffalo, New York. The company also operates in the lodging, sporting, airport, gambling, and entertainment industries. The company employs over 5 ...

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 Saturday ...

Lebanon, Ohio Lebanon is a city in Warren County, Ohio, United States, and its county seat. The population was 20,841 at the 2020 United States census, 2020 census. It is part of the Cincinnati metropolitan area. History Lebanon is in the Symmes Purchase. Th ...

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 ( ; colloquially nicknamed Cincy) is a city in Hamilton County, Ohio, United States, and its county seat. Settled in 1788, the city is located on the northern side of the confluence of the Licking River (Kentucky), Licking and Ohio Ri ...

and

Dayton Dayton () is a city in Montgomery County, Ohio, United States, and its county seat. It is the List of cities in Ohio, sixth-most populous city in Ohio, with a population of 137,644 at the 2020 United States census, 2020 census. The Dayton metro ...

. The new racino, Miami Valley Gaming, opened in December 2013. In July 2013, Churchill Downs bought the Oxford Casino in

Oxford, Maine Oxford is a town in Oxford County, Maine, Oxford County, Maine, United States. Oxford is included in the Lewiston-Auburn, Maine metropolitan New England city and town area. The population was 4,229 at the 2020 United States Census, 2020 census. ...

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 16,748 at the 2020 census. The word Greenbush is derived from the Dutch ''het groen bosch,'' referring to the pine woods that or ...

. In October 2014, Churchill agreed to purchase a 25 percent interest in Saratoga, and signed on to manage

Saratoga Casino and Raceway Saratoga Casino Hotel (formerly Saratoga Casino and Raceway) is an establishment in Saratoga Springs, New York. Saratoga Casino Hotel is home to a -mile standardbred race track, with a racino and hotel located inside the racetrack's grandstand ...

, 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 Big Fish Games, Inc. is a casual game company based in Seattle with a regional office in Oakland, California, owned by Aristocrat Leisure. It is a developer and distributor of casual games for computers and mobile devices. In 2016, the company ...

, a developer of

casual games A casual game is a video game targeted at a mass market audience, as opposed to a Hardcore gamer, hardcore game, which is targeted at Gamer#Dedication spectrum, hobbyist gamers. Casual games may exhibit any type of gameplay and genre. They genera ...

, in a deal valued at up to $885 million. It then sold Big Fish Games in 2018 to

Aristocrat Leisure Aristocrat Leisure Limited is an Australian gambling machine manufacturer, which has its administrative and research headquarters in the Sydney suburb of North Ryde. It has marketing and development offices in South Africa, Russia and the Unit ...

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 Febru ...

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), ...

in Mississippi) from

Eldorado Resorts Caesars Entertainment, Inc., formerly Eldorado Resorts, Inc., is an American hotel and casino entertainment company founded and based in Reno, Nevada, that operates more than 50 properties. Eldorado Resorts acquired Caesars Entertainment Corpora ...

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, 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 Neil Gary Bluhm (born 1938) is an American billionaire real estate and casino magnate. He is a partner of Midwest Gaming & Entertainment, which owns several casinos. He had an estimated net worth of US$7.8 billion in February 2025. Early life Bl ...

and his partners for $401 million. Later that year, Churchill purchased

Turfway Park Turfway Park is an American horse racing track located within the city limits of Florence, Kentucky, about south of the Ohio River at Cincinnati. The track conducts live Thoroughbred horse racing during two meets each year—Holiday (December), ...

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 and an estimated 30,647 in 2022. Salem is a northern suburb of Boston located on Interstate 93. As the first town along I-93 north ...

. 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

for $2.8 billion. The acquisition added three major properties (

Colonial Downs Colonial Downs is a Race track, racetrack located in New Kent County, Virginia adjacent to Interstate 64, halfway between Richmond, Virginia, Richmond and Williamsburg, Virginia, Williamsburg. The track conducted Thoroughbred flat racing and Stand ...

, Del Lago Resort & Casino, and Hard Rock Hotel & Casino Sioux City) to Churchill Downs's portfolio, along with the Rosie's Gaming Emporium chain of historical racing parlors in Virginia, and the proposed One Casino & Resort in

Richmond, Virginia Richmond ( ) is the List of capitals in the United States, capital city of the Commonwealth (U.S. state), U.S. commonwealth of Virginia. Incorporated in 1742, Richmond has been an independent city (United States), independent city since 1871. ...

Economics and stock

Churchill Downs Incorporated is listed on the

NASDAQ The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

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, United States. It is a suburb of Miami and located north of Greater Downtown Miami, downtown Miami with city boundaries that stretch from Interstate 95 in Florida, I-95 and N ...

*Chasers Poker Room —

—

New Kent County, Virginia New Kent County is a county in the southeastern part of 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 located east of the Greater Richmond Region ...

—

Del Lago Resort and Casino del Lago Resort and Casino is a casino hotel in Tyre, New York, owned and operated 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 Downtown —

—

* Fair Grounds Race Course and Slots —

New Orleans, Louisiana New Orleans (commonly known as NOLA or The Big Easy among other nicknames) is a Consolidated city-county, consolidated city-parish located along the Mississippi River in the U.S. state of Louisiana. With a population of 383,997 at the 2020 ...

* Hard Rock Hotel & Casino Sioux City —

Sioux City, Iowa Sioux City () is a city in Woodbury County, Iowa, Woodbury and Plymouth County, Iowa, Plymouth counties in the U.S. state of Iowa. The population was 85,797 in the 2020 United States Census, 2020 census, making it the List of cities in Iowa, fo ...

* Harlow's Casino Resort — Refuge, Mississippi * Miami Valley Gaming —

Turtlecreek Township, Ohio Turtlecreek Township is one of the eleven townships of Warren County, Ohio, United States. It is in the central part of the county and surrounds the county seat of Lebanon. Turtlecreek is the largest township in the county, originally containin ...

(50% stake) * Newport Racing & Gaming —

Newport, Kentucky Newport is a list of Kentucky cities, home rule-class city in Campbell County, Kentucky, United States. It is at the confluence of the Ohio River, Ohio and Licking River (Kentucky), Licking rivers across from Cincinnati. The population was 14,150 ...

* Oak Grove Racing, Gaming & Hotel —

Oak Grove, Kentucky Oak Grove is a list of Kentucky cities, home rule-class city adjacent to the Fort Campbell list of United States Army bases, army base in Christian County, Kentucky, Christian County, Kentucky, in the United States. The population was 7,931 as o ...

* 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 —

*Owensboro Racing & Gaming —

Owensboro, Kentucky Owensboro is a Home rule in the United States, home rule-class city in Daviess County, Kentucky, United States, of which it is also the county seat. It is the List of cities in Kentucky, fourth-most populous city in the state. Owensboro is loca ...

— Summit Township, Pennsylvania * Rivers Casino —

Des Plaines, Illinois Des Plaines () is a city in Cook County, Illinois, United States. Per the 2020 United States census, 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 situat ...

(62% stake) * Riverwalk Casino Hotel —

* Terre Haute Casino Resort —

Terre Haute, Indiana Terre Haute ( ) is a city in Vigo County, Indiana, United States, and its county seat. As of the 2020 United States census, 2020 census, the city had a population of 58,389 and Terre Haute metropolitan area, its metropolitan area had a populati ...

—

Florence, Kentucky Florence is a city in Boone County, Kentucky, United States, part of the Cincinnati metropolitan area. The population was 31,946 at the 2020 census, making it the second-most populous city in Northern Kentucky, the eighth-most populous city i ...

The company's other business holdings include: * Bluff Media * Rosie's Gaming Emporium *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 Companies in the S&P 400