A lot of good commentary on the direction of travel for growth capital in the coming years. A lot of this capital is focused in the growthier areas of the business, like your HRMs and the tracks, which begs the question, how do you view the regional gaming business in terms of future investment and really just kind of how it fits into the total Churchill Downs enterprise in the coming years.

Feb 20, 2025 / receipt, needs a key / Bill Carstangen, CEO | earnings call 2025-02-20 | transcript 03702a71-0e44-4aab-90f4-9009ba3dc065 | chars 34047-34441 | segment 34

Next, regarding our investment in gaming properties, we held the grand opening for our Terre Haute Casino in Indiana on April 5th, followed by its hotel on May 15th. both on time and on budget.

Jul 25, 2024 / receipt, needs a key / Bill Carstangen, CEO | earnings call 2024-07-25 | transcript f5a77380-4803-49bd-8575-678db2332d7e | chars 11368-11561 | segment 11

It's designed to stretch the market we can reach into so we can reach customers who are further away, who have farther to travel. And with respect to our good customers, it can allow them to stay and play longer at our facility.

Jul 29, 2021 / receipt, needs a key / Bill Mudd, other | earnings call 2021-07-29 | transcript 3bea4bc5-04f4-4d4f-a27d-e6aca17c4d3b | chars 47866-48094 | segment 48

As I mentioned on our last earnings call, while the projects at Churchill Downs Racetrack were paused during the pandemic, we used the time to reevaluate a number of evolving factors, including consumer travel trends, especially hotel occupancy and room rates in our region, alternative capital investment opportunities at Churchill Downs Racetrack, that would create new experiences for our customers, including new or enhanced reserve seats, that would generate more immediate and higher returns with less risk, and how to optimize the distribution of HRM facilities in the Louisville market in light of the continued significant growth at Derby City Gaming and the potential for an annex permissible under Kentucky law within 60 miles of Churchill Downs Racetrack, which includes downtown Louisville.

Apr 22, 2021 / receipt, needs a key / Bill, CEO | earnings call 2021-04-22 | transcript 76013887-e004-435d-a234-41d91314ccf0 | chars 13967-14770 | segment 14