Churchill Downs Inc.
- CHDN · Nasdaq
- Services-Racing, Including Track Operation
- Louisville, KY
- 9,000 employees
- CIK 0000020212
Updated from SEC filings through
Top things to know
Executives
- William C. Carstanjen Chief Executive Officer 10-K, 2026-02-25
- Marcia A. Dall EVP, and CFO 4, 2026-03-20
-
William E. Mudd President and COO 4, 2026-03-20 - Bradley K. Blackwell EVP, General Counsel 4, 2026-02-09
- Maureen Adams EVP, Gaming Operations 4, 2026-01-05
Churchill Downs Inc is a U.S. public company in services-racing, including track operation (SIC 7948), headquartered in Louisville, KY. It trades as CHDN on Nasdaq. Revenue was $2.9B in the fiscal year ending December 31, 2025, +7.0% from the year before. It reported about 9,000 employees. William C. Carstanjen is Chief Executive Officer.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $2.9B 10-K, 2026-02-25 | $2.7B 10-K, 2026-02-25 | $2.5B 10-K, 2026-02-25 | $1.8B 10-K, 2023-02-22 | $1.6B 10-K, 2023-02-22 |
| Operating income | $684M 10-K, 2026-02-25 | $709M 10-K, 2026-02-25 | $564M 10-K, 2026-02-25 | $322M 10-K, 2025-02-20 | $284M 10-K, 2024-02-21 |
| SG&A | $246M 10-K, 2026-02-25 | $238M 10-K, 2026-02-25 | $202M 10-K, 2026-02-25 | $164M 10-K, 2025-02-20 | $139M 10-K, 2024-02-21 |
| Net income | $383M 10-K, 2026-02-25 | $427M 10-K, 2026-02-25 | $417M 10-K, 2026-02-25 | $439M 10-K, 2025-02-20 | $249M 10-K, 2024-02-21 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| William C. Carstanjen | Chief Executive Officer | 10-K, 2026-02-25 |
| Marcia A. Dall | EVP, and CFO | 4, 2026-03-20 |
| William E. Mudd | President and COO | 4, 2026-03-20 |
| Bradley K. Blackwell | EVP, General Counsel | 4, 2026-02-09 |
| Maureen Adams Executive Vice President, Gaming @ Churchill Downs Incorporated | EVP, Gaming Operations | 4, 2026-01-05 |
| Andréa Carter | Board member (per proxy) bio: Directors | DEF 14A, 2026-03-12 |
What Churchill Downs Inc does
Churchill Downs Incorporated ("CDI" or the "Company") has been creating extraordinary entertainment experiences for over 150 years, beginning with the Company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the acquisition, development, and operation of live and historical racing entertainment venues, the growth of the online wagering businesses, and the acquisition, development, and operation of regional casino gaming properties.
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 68.5 million (as of October 21, 2026) | 10-Q, October 28, 2026 |
|---|---|---|
| Public float | $6.7B (as of June 30, 2025) | 10-K, February 25, 2026 |
| Reportable segments | 3 (period ending September 30, 2026) | 10-Q, October 28, 2026 |
| Latest proxy statement | Meeting April 21, 2026 (filed March 12, 2026) | DEF 14A, March 12, 2026 |
| Auditor | PricewaterhouseCoopers LLP (Louisville, Kentucky) | Latest 10-K |
Recent 8-K events
- 8-K filed 2026-10-28
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-10-28
- Item 5.02 Departure or appointment of directors or officers; compensation
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-10-28
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-09-28
- Item 1.01 Entry into a material definitive agreement
- Item 2.03 Creation of a direct financial obligation
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-07-29
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-07-29
- Item 8.01 Other events
- 8-K filed 2026-04-22
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-04-21
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-02-25
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2025-10-22
- Item 2.02 Results of operations and financial condition (earnings release)
Frequently asked questions about Churchill Downs Inc
- What does Churchill Downs Inc do?
- In its own words, from Item 1 of its 10-K: "Churchill Downs Incorporated ("CDI" or the "Company") has been creating extraordinary entertainment experiences for over 150 years, beginning with the Company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the acquisition, development, and operation of live and historical racing entertainment venues, the growth of the online wagering businesses, and the acquisition, development, and operation of regional casino gaming properties."
- What is Churchill Downs Inc's revenue?
- $2.9B for the fiscal year ending December 31, 2025, from its 10-K filed February 25, 2026.
- Is Churchill Downs Inc profitable?
- Churchill Downs Inc reported net income of $383M for the fiscal year ending December 31, 2025.
- How many employees does Churchill Downs Inc have?
- About 9,000 as of December 31, 2025, as stated in its annual report.
- Who is the CEO of Churchill Downs Inc?
- William C. Carstanjen, Chief Executive Officer, as named in a 10-K filed February 25, 2026.
- Who is the CFO of Churchill Downs Inc?
- Marcia A. Dall, EVP, and CFO, as named in a 4 filed March 20, 2026.
- Where is Churchill Downs Inc headquartered?
- Louisville, KY.
- What is Churchill Downs Inc's stock ticker?
- CHDN on Nasdaq.
- What industry is Churchill Downs Inc in?
- Services-Racing, Including Track Operation, SIC code 7948.
- What is Churchill Downs Inc's website?
- churchilldownsincorporated.com.
- When does Churchill Downs Inc report earnings next?
- February 10, 2027. Source: estimate_8k_pattern.
- Is Churchill Downs Inc a public company?
- Yes. Churchill Downs Inc files with the SEC under CIK 0000020212 and trades as CHDN.
- Who audits Churchill Downs Inc?
- PricewaterhouseCoopers LLP, Louisville, Kentucky, as named in its latest annual report (10-K).
- How many shares of Churchill Downs Inc are outstanding?
- 68.5 million shares as of October 21, 2026, from its 10-Q filed October 28, 2026.
- What is Churchill Downs Inc's public float?
- $6.7B as of June 30, 2025, as reported on the cover of its 10-K filed February 25, 2026.
- How many business segments does Churchill Downs Inc report?
- 3 reportable segments for the period ending September 30, 2026, from its 10-Q filed October 28, 2026.
- When is Churchill Downs Inc's annual shareholder meeting?
- April 21, 2026, per its proxy statement (DEF 14A) filed March 12, 2026.