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    SEC Form SC 13D/A filed by Churchill Downs Incorporated (Amendment)

    3/17/22 4:06:05 PM ET
    $CHDN
    Services-Misc. Amusement & Recreation
    Consumer Discretionary
    Get the next $CHDN alert in real time by email
    SC 13D/A 1 d337500dsc13da.htm SC 13D/A SC 13D/A

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    WASHINGTON, D.C. 20549

     

     

    SCHEDULE 13D/A

    Under the Securities Exchange Act of 1934

    (Amendment No. 9)

     

     

    Churchill Downs Incorporated

    (Name of Issuer)

    Common Stock, no par value

    (Title of Class of Securities)

    171484-10-8

    (CUSIP Number)

    Eric A. Reeves

    The Duchossois Group, Inc.

    444 W. Lake Street, Suite 2000

    Chicago, Illinois 60606

    312.586.2080

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

    January 28, 2022

    (Date of Event Which Requires Filing of This Statement)

     

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box  ☐.

    (Continued on following pages)

     

     

     


    CUSIP NO. 171484-10-8

     

      1    

      NAME OF REPORTING PERSONS

      The Duchossois Group, Inc.

     

      I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

      36-3061841

      2  

      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

      (a)  ☐        (b)  ☒

     

      3  

      SEC USE ONLY

     

      4  

      SOURCE OF FUNDS

     

      Not applicable

      5  

      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

     

      ☐

      6  

      CITIZENSHIP OR PLACE OF ORGANIZATION

     

      Delaware

    NUMBER OF

    SHARES

     BENEFICIALLY 

    OWNED BY

    EACH

    REPORTING

    PERSON

    WITH

     

         7    

      SOLE VOTING POWER

     

      0

         8  

      SHARED VOTING POWER

     

      0 (See Item 5)

         9  

      SOLE DISPOSITIVE POWER

     

      0

       10  

      SHARED DISPOSITIVE POWER

     

      2,000,000 (See Item 5)

    11    

      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

      2,000,000 (See Item 5)

    12  

      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

     

      ☐

    13  

      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

      5.3% (See Item 5)    

    14  

      TYPE OF REPORTING PERSON

     

      CO

     

    2


    CUSIP NO. 171484-10-8

     

      1    

      NAME OF REPORTING PERSONS

      CDI Holdings LLC

     

      I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

      32-0480627

      2  

      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

      (a)  ☐        (b)  ☒

     

      3  

      SEC USE ONLY

     

      4  

      SOURCE OF FUNDS

     

      Not applicable

      5  

      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

     

      ☐

      6  

      CITIZENSHIP OR PLACE OF ORGANIZATION

     

      Delaware

    NUMBER OF

    SHARES

     BENEFICIALLY 

    OWNED BY

    EACH

    REPORTING

    PERSON

    WITH

     

         7    

      SOLE VOTING POWER

     

      0

         8  

      SHARED VOTING POWER

     

      0 (See Item 5)

         9  

      SOLE DISPOSITIVE POWER

     

      0

       10  

      SHARED DISPOSITIVE POWER

     

      2,000,000 (See Item 5)

    11    

      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

      2,000,000 (See Item 5)

    12  

      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

     

      ☐

    13  

      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

      5.3% (See Item 5)

    14  

      TYPE OF REPORTING PERSON

     

      OO

     

    3


    CUSIP NO. 171484-10-8

     

      1    

      NAME OF REPORTING PERSONS

     

      Craig J. Duchossois

      2  

      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

      (a)  ☐        (b)  ☒

     

      3  

      SEC USE ONLY

     

      4  

      SOURCE OF FUNDS

     

      Not applicable

      5  

      CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

     

      ☐

      6  

      CITIZENSHIP OR PLACE OF ORGANIZATION

     

      U.S. Citizen

    NUMBER OF

    SHARES

     BENEFICIALLY 

    OWNED BY

    EACH

    REPORTING

    PERSON

    WITH

     

         7    

      SOLE VOTING POWER

     

      2,120,000 (See Item 5)

         8  

      SHARED VOTING POWER

     

      0 (See Item 5)

         9  

      SOLE DISPOSITIVE POWER

     

      120,000 (See Item 5)

       10  

      SHARED DISPOSITIVE POWER

     

      2,000,000 (See Item 5)

    11    

      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

      2,120,000 (See Item 5)

    12  

      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

     

      ☐

    13  

      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

      5.6% (See Item 5)

    14  

      TYPE OF REPORTING PERSON

     

      IN

     

    4


    Item 1 is hereby amended in its entirety to read as follows:

    Item 1. Security and Issuer

    This Amendment No. 9 amends the Statement on Schedule 13D, as amended (the “Schedule 13D”), originally filed with the Securities and Exchange Commission on July 3, 2000 by The Duchossois Group, Inc. (f/k/a Duchossois Industries, Inc., an Illinois corporation (“TDG Illinois”)), and Richard L. Duchossois. This Amendment No. 8 relates to shares of Common Stock, no par value per share (the “Common Stock”), of Churchill Downs Incorporated, a Kentucky corporation (the “Issuer”). On January 25, 2019, the Issuer effected a three-for-one stock split of the Issuer’s Common Stock (the “Stock Split”). Unless otherwise noted herein, all shares of Common Stock and per share amounts in this Amendment No. 9 reflect the Stock Split.

    The principal executive office and mailing address of the Issuer is 600 North Hurstbourne Parkway, Louisville, Kentucky 40222.

    The following amendments to the Schedule 13D are hereby made by this Amendment No. 9.

    This Amendment No. 8 is being filed primarily to report the death of Richard L. Duchossois and the elimination of the shares formerly held by him from this filing.

    Item 2 is hereby amended in its entirety to read as follows:

    Item 2. Identity and Background

    This Amendment No. 9 is being filed by (i) The Duchossois Group, Inc., a Delaware corporation (“TDG”), (ii) CDI Holdings LLC, a Delaware limited liability company (“Holdings”), and (iii) Craig J. Duchossois (collectively, the “Reporting Persons”). Neither the present filing nor anything contained herein shall be construed as an admission that the Reporting Persons constitute a “person” for any purpose other than Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or that the Reporting Persons constitute a “group” for any purpose.

    TDG, through its subsidiaries, holds various investments. The address of TDG’s principal business and principal office is 444 W. Lake Street, Suite 2000, Chicago, Illinois 60606. Appendix A hereto, which is incorporated herein by this reference, sets forth the name, business address, present principal occupation or employment (and the name, principal business and address of any corporation or other organization in which such employment is conducted) and the citizenship of the directors, managers, executive officers and control persons of TDG.

    Holdings is a limited liability company established under the laws of Delaware with a principal address of 444 W. Lake Street, Suite 2000, Chicago, Illinois 60606. TDG is the sole member and manager of Holdings. The principal business of Holdings is to hold investments.

    Craig J. Duchossois is principally employed as the Executive Chair of TDG. His business address is 444 W. Lake Street, Suite 2000, Chicago, Illinois 60606. He is a citizen of the United States.

    During the last five years, none of the Reporting Persons and, to the best knowledge of each of them, none of the persons listed on Appendix A attached hereto, has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

     

    5


    Item 3 is hereby amended in its entirety to read as follows:

    Item 3. Source and Amount of Funds or Other Consideration

    The response to Item 6 is incorporated herein by this reference.

    On April 23, 2019, 25,823 shares of Common Stock that had been granted to Richard L. Duchossois for his service as a director of the Issuer vested (as to 17,931 RSUs) and converted (as to 7,892 shares of phantom stock) following his retirement from the board of directors of the Issuer, of which 13,644 shares of Common Stock were previously reported as owned directly by Mr. Duchossois. Between April 5, 2018 and March 13, 2020, Richard L. Duchossois acquired 94,109 shares of Common Stock for an aggregate purchase price of $8,024,282. The purpose of his purchases was for investment purposes with the aim of increasing the value of his investments in the Issuer. The source of funds for such purchases was his personal funds.

    On April 24, 2018, 50,616 shares of Common Stock that had been granted to Craig J. Duchossois for his service as a director of the Issuer vested (as to 16,347 RSUs) and converted (as to 34,269 shares of phantom stock) following his retirement from the board of directors of the Issuer. On December 21, 2018, Craig J. Duchossois caused the CJD RBD Legacy Trust to purchase 16,446 shares of Common Stock for an aggregate purchase price of $1,295,287. The purpose of this purchase was for investment purposes with the aim of increasing the value of his investments in the Issuer. The source of funds for such purchases was funds held in trust for his benefit.

    Item 4 is hereby amended in its entirety to read as follows:

    Item 4. Purpose of Transaction

    The responses to Item 3 and Item 6 are incorporated herein by this reference.

    From November 8, 2021 through January 27, 2022, Richard L. Duchossois contributed 323,831 shares of Common Stock to the Richard L. Duchossois Foundation. Upon Richard L. Duchossois’ death on January 28, 2022, his remaining 313,073 shares of Common Stock remained held by the Richard L. Duchossois Revocable Trust of which a third party became trustee.    

    On February 1, 2021, Holdings sold to the Issuer 1,000,000 shares of Common Stock for aggregate consideration of $193,940,000 pursuant to that certain Stock Repurchase Agreement, dated February 1, 2021, between Holdings and the Issuer (the “2021 Stock Repurchase Agreement”). This sale transaction was effected as part of the Duchossois family’s plan to diversify its holdings.

    On June 9, 2017, Holdings sold to the Issuer 1,000,000 shares of Common Stock for aggregate consideration of $158,782,444 pursuant to that certain Stock Repurchase Agreement, dated June 9, 2017, between Holdings and the Issuer (the “2017 Stock Repurchase Agreement”). In connection with the 2017 Stock Repurchase Agreement, Holdings and the Issuer entered into an Amended and Restated Stockholder’s Agreement (the “Amended and Restated Agreement”) to that certain Stockholder’s Agreement, dated September 8, 2000, between TDG and the Issuer (the “Stockholder’s Agreement”), as amended by the First Amendment to Stockholder’s Agreement, dated November 19, 2015 (the “Amendment”). The Amended and Restated Agreement provides for (i) limited registration rights for Holdings, until Holdings no longer holds at least 5% of the then outstanding Common Stock; and (ii) a restricted legend removal process. This sale transaction was effected as part of the Duchossois family’s plan to diversify its holdings.

     

    6


    No Reporting Person has any agreement which would be related to or would result in any of the matters described in Items 4 (a) – (j) of Schedule 13D, other than as disclosed herein. However, each Reporting Person expects its evaluation of this investment and investment alternatives to be ongoing.

    No Reporting Person has any specific plan or proposal to acquire or dispose of the Common Stock, although consistent with its investment purpose, each Reporting Person at any time and from time to time may acquire additional Common Stock or dispose of any or all of its Common Stock, depending upon an ongoing evaluation of the investment in the Common Stock, prevailing market conditions, other investment opportunities, liquidity requirements of the Reporting Persons and/or other investment considerations.

    The foregoing response to this Item 4 is qualified in its entirety by reference to the Amended and Restated Agreement, which is filed as Exhibit 5.4 and is incorporated herein by this reference.

    Item 5 is hereby amended in its entirety to read as follows:

    Item 5. Interest in Securities of the Issuer

    The response to Item 6 is incorporated herein by this reference.

    For the purposes of Rule 13d-3 as promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), TDG beneficially owns, and has shared disposition power of, 2,000,000 shares of Common Stock, including 2,000,000 shares (or 5.3%) of Common Stock directly owned by Holdings (the “Holdings Shares”). TDG is the sole member and manager of Holdings. For the purposes of Rule 13d-3 as promulgated under the Exchange Act, Holdings beneficially owns, and has shared disposition power of, the Holdings Shares. By virtue of the Voting Trust Agreement (as defined herein), neither TDG nor Holdings has or shares voting power with respect to the Holdings Shares. Holdings is the registered holder of the Holdings Shares and has the right to receive dividends from, or the proceeds from the sale of, such securities.

    Craig J. Duchossois beneficially owns, and has sole voting and disposition power of, 120,000 shares (or 0.3%) of the Common Stock through the Craig J. Duchossois Revocable Trust (103,554 shares) and the CJD RBD Legacy Trust (16,446 shares), of which he is the sole Investment Advisor and directs the trustee on all investment matters. By virtue of his position as a director and executive officer, and his ability to direct the investment decisions, of TDG and his position as the Voting Trustee under the Voting Trust Agreement, Craig J. Duchossois shares disposition power and has sole voting power with respect to the Holdings Shares and, for purposes of Rule 13d-3, may be deemed to beneficially own the Holdings Shares. The Holdings Shares, when aggregated with the 120,000 shares of Common Stock beneficially owned by Craig J. Duchossois, results in Mr. Duchossois being deemed to beneficially own 2,120,000 shares of Common Stock, or approximately 5.6% of the Outstanding Shares. Craig J. Duchossois disclaims beneficial ownership of the Holdings Shares.

    The percentages set forth in this Item 5 and in the cover pages are based on 38,090,006 shares of Common Stock of the Issuer outstanding (the “Outstanding Shares”), which is calculated based on 38,090,006 shares outstanding as of February 16, 2022 as reported by the Issuer in its Annual Report on Form 10-K filed with the Securities and Exchange Commission for the years ended December 31, 2021.

     

    7


    Except as set forth herein, none of the Reporting Persons has effected any transactions in shares of Common Stock during the preceding 60 days.

    Item 6 is hereby amended in its entirety to read as follows:

    Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

    The following response to this Item 6 is qualified in its entirety by reference to the Stockholder’s Agreement, dated September 8, 2000, between TDG Illinois and the Issuer (the “Stockholder’s Agreement”), the First Amendment to Stockholder’s Agreement, dated November 19, 2015, between TDG and the Issuer (the “Amendment”), the Amended and Restated Stockholder’s Agreement, dated June 9, 2017, between Holdings and the Issuer (the “Amended and Restated Agreement”), and the Voting Trust Agreement, dated July 3, 2019, among TDG, Holdings and Craig J. Duchossois (the “Voting Trust Agreement”), which are Exhibits 5.1, 5.2, 5.4 and 5.6 hereto, respectively, and incorporated herein by this reference.

    The number of shares of Common Stock and the amount of consideration paid therefor set forth in this Item 6 have not been adjusted to reflect the Stock Split.

    Stockholder’s Agreement

    On September 8, 2000, in connection with the consummation of the transactions contemplated by the merger agreement pursuant to which TDG Illinois acquired various shares of Common Stock (filed as Exhibit 2.1 hereto and incorporated herein by reference), the Issuer and TDG Illinois entered into the Stockholder’s Agreement. The Issuer and TDG entered into the Amendment in connection with the sale by TDG of 944,756 shares of Common Stock to the Issuer for aggregate consideration of $138,057,194.28. On February 29, 2016, TDG transferred 2,000,000 shares of Common Stock of the Issuer to Holdings. In connection therewith and in accordance with the terms of the Stockholder’s Agreement, Holdings agreed to assume all of TDG’s obligations under the Stockholder’s Agreement and to be bound by the Stockholder’s Agreement as if Holdings had been an original signatory to the Stockholder’s Agreement. On June 9, 2017, the Issuer and Holdings entered into the Amended and Restated Agreement in connection with the sale by Holdings of 1,000,000 shares of Common Stock to the Issuer for aggregate consideration of $158,782,444 pursuant to the 2017 Stock Repurchase Agreement.

    Subject to certain limitations, Holdings may make transfers pursuant to Rule 144 under the Securities Act or private placements.

    Holdings has the right to transfer its securities in an underwritten public offering under the Securities Act in accordance with the terms for registrations rights contained in the Amended and Restated Agreement. Holdings has, subject to certain conditions, both demand and “piggyback” registration rights until Holdings no longer holds at least 5% of the then outstanding Common Stock.

    Craig J. Duchossois served as a member of the board of directors of the Issuer until the expiration of his then-current term on April 24, 2018.

    Voting Trust Agreement

    As of July 3, 2019 (the “Effective Date”), Holdings and TDG (the “Beneficiaries”) and Craig J. Duchossois (the “Voting Trustee”) entered into a voting trust agreement (the “Voting Trust Agreement”) whereby the Beneficiaries transferred and relinquished to the Voting Trustee all rights and powers attendant to their equity interests in the Issuer (except for the right to receive distributions), including the

     

    8


    right to vote, assent, or consent with respect thereto, and to take part in and consent to any corporate or shareholder action of any kind whatsoever with respect thereto. The Voting Trust Agreement will terminate on the earlier of ten years after (i) the Effective Date or (ii) the sale of all of the equity interests in the Issuer to an unaffiliated third party, subject to earlier termination up on the written consent of the Beneficiaries and Voting Trustee.

    Item 7 is hereby amended in its entirety to read as follows:

    Item 7. Material to be Filed As Exhibits.

     

    *Exhibit 1    Joint Filing Agreement
    Exhibit 2.1    Amended and Restated Agreement and Plan of Merger (incorporated by reference to Annex A to the Issuer’s Definitive Proxy Statement on Schedule 14A (Commission File No. 0-01469) dated August 10, 2000)
    Exhibit 2.2    Stock Repurchase Agreement dated November 19, 2015 between the Issuer and TDG (incorporated by reference to Exhibit 2.2 to Amendment No. 5 to Schedule 13D/A (Commission File No. 005-30865) dated November 19, 2015)
    Exhibit 3    [Reserved]
    Exhibit 4    [Reserved]
    Exhibit 5.1    Form of Stockholder’s Agreement (incorporated by reference to Annex C to the Issuer’s Definitive Proxy Statement on Schedule 14A (Commission File No. 0-01469) dated August 10, 2000)
    Exhibit 5.2    First Amendment to Stockholder’s Agreement dated November 19, 2015 (incorporated by reference to Exhibit 5.2 to Amendment No. 5 to Schedule 13D/A (Commission File No. 005-30865) dated November 19, 2015)
    Exhibit 5.3    Joinder to Stockholder’s Agreement dated February 29, 2016 (incorporated by reference to Exhibit 5.3 to Amendment No. 6 to Schedule 13D/A (Commission File No. 005-30865) dated March 3, 2016)
    Exhibit 5.4    Amended and Restated Stockholder’s Agreement dated June 9, 2017 (incorporated by reference to Exhibit 5.4 to Amendment No. 7 to Schedule 13D/A (Commission File No. 005-30865) dated June 14, 2017)
    Exhibit 5.5    Stock Repurchase Agreement dated June 9, 2017 between the Issuer and Holdings (incorporated by reference to Exhibit 10.1 to the Form 8-K filed by the Issuer (Commission File No. 001-33998) with the Securities and Exchange Commission on June 12, 2017)
    Exhibit 5.6    Voting Trust Agreement dated July 3, 2019 (incorporated by reference to Exhibit 5.6 to Amendment No. 8 to Schedule 13D/A (Commission File No. 005-30865) dated February 1, 2021)

     

    9


    Exhibit 5.7

       Stock Repurchase Agreement dated February 1, 2021 between the Issuer and Holdings (incorporated by reference to Exhibit 10.1 to the Form 8-K filed by the Issuer (Commission File No. 001-33998) with the Securities and Exchange Commission on February 2, 2021)

    Exhibit 5.8

       Letter Agreement dated February 1, 2021 between the Issuer and Holdings (incorporated by reference to Exhibit 5.8 to Amendment No. 8 to Schedule 13D/A (Commission File No. 005-30865) dated February 1, 2021)

     

    *

    Filed herewith

     

    10


    SIGNATURE

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Date: March 17, 2022

         

    /s/ Craig J. Duchossois

         

    Craig J. Duchossois

    SIGNATURE

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Date: March 17, 2022

         

    THE DUCHOSSOIS GROUP, INC.

         

    By:

     

    /s/ Eric A. Reeves

           

    Name: Eric A. Reeves

           

    Title: Vice President, General Counsel and Secretary

    SIGNATURE

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Date: March 17, 2022

         

    CDI HOLDINGS LLC

         

    By:The Duchossois Group, Inc., its manager

         

    By:

     

    /s/ Eric A. Reeves

           

    Name: Eric A. Reeves

           

    Title: Vice President, General Counsel and Secretary

     

    11


    Appendix A

    Directors, Officers and Control Persons of TDG

     

    Name

      

    Principal Occupation or
    Employment

      

    Business Address

      

    Nature of Business

      

    Citizenship

    Officers of TDG            
    Duchossois, Craig J.    Executive Chair    Same as above    Same as above    United States
    Flannery, Michael E.    Executive Vice President and CFO    Same as above    Same as above    United States
    Reeves, Eric A.    Vice President, General Counsel and Secretary    Same as above    Same as above    United States
    Connell, William J.    Vice President, Controller and Treasurer    Same as above    Same as above    United States
    Wong, Mary    Vice President, Tax    Same as above    Same as above    United States
    Huffman, William R.    Executive Vice President, Facilities Development and Operations    Same as above    Same as above    United States
    Naski, Richard A.    Vice President Strategic Asset Management    Same as above    Same as above    United States

     

    12


    Name

      

    Position with TDG

      

    Principal Occupation
    or Employment

      

    Business Address

      

    Nature of Business

      

    Citizenship

    Directors of TDG               
    Duchossois, Craig J.    Executive Chair    See above    See above    See above    See above
    Duchossois-Fortino, Dayle P.    Director    Private Investor    Same as above for TDG    Same as above for TDG    United States
    Joyce, Ashley Duchossois    Director    President   

    The Duchossois Family Foundation

    444 W. Lake Street, Suite 2000, Chicago, Illinois 60606

       Same as above for The Duchossois Family Foundation    United States
    Lenczuk, Tyler R.    Director    Private Investor    Same as above for TDG    Same as above for TDG    United States
    Struckmeyer, Erich    Director   

    Chamberlain Group

    Vice President & General Manager, Commercial Business Unit

       Same as above for TDG    Same as above for TDG    United States
    William Bush    Director    Co-Founder & Vice Chairman   

    BDT & Company, LLC

    401 North Michigan, Suite 3100

    Chicago, IL 60611

       Merchant banking    United States
    Gresh, Philip M. Jr.    Director    Retired    Same as above for TDG    N/A    United States
    Zarcone, Donna F.    Director    Retired    Same as above for TDG    N/A    United States
    Zeglis, John    Director    Retired    Same as above for TDG    N/A    United States
    Huntington, Amelia    Director    Retired    Same as above for TDG    N/A    United States
    Manske, Susan E.    Director    Vice President & CIO   

    The John C. & Catherine T.

    MacArthur Foundation

    140 South Dearborn

    Chicago, IL 60603-5285

       Private foundation that makes grants and impact investments    United States
    Yagan, Sam    Director    CEO   

    ShopRunner

    350 N. Orleans, Suite 300N

    Chicago, IL 60654

       Online retailer    United States

     

    13

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    10/3/2023$148.00Buy
    Stifel
    3/17/2023$300.00Buy
    Truist
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    $CHDN
    Financials

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    • Churchill Downs Incorporated Reports 2025 First Quarter Results

      LOUISVILLE, Ky., April 23, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (NASDAQ:CHDN) (the "Company", "CDI", "we") today reported business results for the first quarter ended March 31, 2025. Company Highlights First quarter 2025 financial results, as compared to the prior year quarter: Record net revenue of $642.6 million, up $51.7 million or 9%Net income attributable to CDI of $76.7 million, down $3.7 million or 5%Record Adjusted EBITDA of $245.1 million, up $2.6 million or 1% We opened Owensboro Racing and Gaming in Western Kentucky in February 2025, with 600 historical racing machines, a retail sportsbook, simulcast wagering, and food and beverage offerings.We announced t

      4/23/25 4:01:04 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs Incorporated 2025 First Quarter Financial Results Conference Call Invitation

      LOUISVILLE, Ky., March 18, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or "the Company") announced today that the Company will release first quarter 2025 financial results after the market closes on Wednesday, April 23, 2025, and host a related conference call to discuss the quarter on Thursday, April 24, 2025, at 9 a.m. ET. Investors and other interested parties may listen to the call by accessing the online, real-time webcast at http://ir.churchilldownsincorporated.com/events.cfm or by registering in advance via teleconference here. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the

      3/18/25 4:03:00 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs Incorporated Reports 2024 Fourth Quarter and Full Year Results

      LOUISVILLE, Ky., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (NASDAQ:CHDN) (the "Company", "CDI", "we") today reported business results for the quarter and full year ended December 31, 2024. Company Highlights Record fourth quarter 2024 financial results compared to the prior year: Net revenue of $624.2 million, up $63.0 million or 11%Net income attributable to CDI of $71.7 million, up $14.1 million or 24%Adjusted EBITDA of $236.6 million, up $17.5 million or 8% Record 2024 financial results compared to the prior year: Net revenue of $2.7 billion, up $272.6 million or 11%Net income attributable to CDI of $426.8 million, up $9.5 million or 2%Adjusted EBITDA of $1.2 bill

      2/19/25 4:01:59 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary

    $CHDN
    Insider Purchases

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    • Director Grissom Douglas C bought $927,700 worth of shares (10,000 units at $92.77), increasing direct ownership by 35% to 38,869 units (SEC Form 4)

      4 - Churchill Downs Inc (0000020212) (Issuer)

      5/8/25 4:47:14 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Director Rankin R Alex bought $185,300 worth of shares (2,000 units at $92.65), increasing direct ownership by 2% to 99,012 units (SEC Form 4)

      4 - Churchill Downs Inc (0000020212) (Issuer)

      5/7/25 4:10:12 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Director Varga Paul C bought $185,940 worth of shares (2,000 units at $92.97), increasing direct ownership by 6% to 33,260 units (SEC Form 4)

      4 - Churchill Downs Inc (0000020212) (Issuer)

      5/5/25 4:10:45 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary

    $CHDN
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    • Sovereignty Wins the 151st Running of the Kentucky Derby Presented by Woodford Reserve

      LOUISVILLE, Ky., May 03, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (NASDAQ:CHDN) (the "Company", "CDI", "we") announced today that Sovereignty claimed the Garland of Roses at the 151st running of the Kentucky Derby presented by Woodford Reserve under steady rain and the watchful eyes of over 147,000 eager racing fans. Sovereignty, owned and bred by Godolphin, LLC, trained by William ("Bill") Mott, and ridden by Junior Alvarado, thundered to the finish to win by a length and a half at 7-1 odds. Sovereignty covered the mile and a quarter in 2:02.31 over a sloppy track. Sired by Into Mischief, Sovereignty now has lifetime earnings of $3.7 million. Wagering from all sources on th

      5/3/25 9:59:34 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs Incorporated Announces Updates on Capital Projects for Churchill Downs Racetrack

      LOUISVILLE, Ky., April 23, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or "the Company") (NASDAQ:CHDN) announced today renovations of the existing Finish Line Suites and The Mansion at Churchill Downs Racetrack with expected completion in April 2026. After careful consideration, CDI has decided to pause the multi-year projects to develop The Skye, Conservatory and Infield areas. The decision to delay these construction projects is due to the increasing uncertainty surrounding construction costs related to tariff and trade disputes as well as current macro-economic conditions. In the coming months, CDI will assess the evolving economic landscape and evaluate any changes to

      4/23/25 4:05:55 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs Incorporated Reports 2025 First Quarter Results

      LOUISVILLE, Ky., April 23, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (NASDAQ:CHDN) (the "Company", "CDI", "we") today reported business results for the first quarter ended March 31, 2025. Company Highlights First quarter 2025 financial results, as compared to the prior year quarter: Record net revenue of $642.6 million, up $51.7 million or 9%Net income attributable to CDI of $76.7 million, down $3.7 million or 5%Record Adjusted EBITDA of $245.1 million, up $2.6 million or 1% We opened Owensboro Racing and Gaming in Western Kentucky in February 2025, with 600 historical racing machines, a retail sportsbook, simulcast wagering, and food and beverage offerings.We announced t

      4/23/25 4:01:04 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary

    $CHDN
    Insider Trading

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    • Director Grissom Douglas C bought $927,700 worth of shares (10,000 units at $92.77), increasing direct ownership by 35% to 38,869 units (SEC Form 4)

      4 - Churchill Downs Inc (0000020212) (Issuer)

      5/8/25 4:47:14 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Director Rankin R Alex bought $185,300 worth of shares (2,000 units at $92.65), increasing direct ownership by 2% to 99,012 units (SEC Form 4)

      4 - Churchill Downs Inc (0000020212) (Issuer)

      5/7/25 4:10:12 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Director Varga Paul C bought $185,940 worth of shares (2,000 units at $92.97), increasing direct ownership by 6% to 33,260 units (SEC Form 4)

      4 - Churchill Downs Inc (0000020212) (Issuer)

      5/5/25 4:10:45 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary

    $CHDN
    Leadership Updates

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    $CHDN
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    • Churchill Downs Incorporated Appoints Andréa Carter to Board of Directors

      LOUISVILLE, Ky., Dec. 16, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or the "Company") (NASDAQ:CHDN) announced today the appointment of Andréa Carter to the Company's Board of Directors. Ms. Carter has amassed over 20 years of professional experience in the field of human resources across multiple industries and major organizations, and is currently serving as Senior Executive Vice President and Chief Human Resources Officer for Global Payments, Inc. in Atlanta. Prior to joining Global Payments, Inc. in 2017, Ms. Carter was Chief HR Officer for Habitat for Humanity and has held various executive HR roles at Ralph Lauren, Newell Rubbermaid and The Home Depot. She holds a

      12/16/22 9:00:00 AM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs Incorporated Announces Retirement of Austin Miller, Names Maureen Adams Senior Vice President of Gaming Operations and Ryan Jordan Senior Vice President of Real Estate Development

      LOUISVILLE, Ky., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or the "Company") (NASDAQ:CHDN) announced today that Austin Miller will retire effective March 1, 2022, after eight years as Senior Vice President of Gaming Operations with the Company.  Miller's 15-year tenure with CDI started as President of Fair Grounds Race Course & Slots in New Orleans, Louisiana, where he led the design, construction and opening of the Company's first casino gaming operation. In 2010, Miller was named President of Calder Casino in Miami Gardens, Florida, before transitioning to CDI's corporate headquarters in Louisville, Kentucky, in 2013. "Austin has been central to the growth a

      2/10/22 4:31:18 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Amendment: SEC Form SC 13G/A filed by Churchill Downs Incorporated

      SC 13G/A - Churchill Downs Inc (0000020212) (Subject)

      11/12/24 12:53:28 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
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    • Amendment: SEC Form SC 13G/A filed by Churchill Downs Incorporated

      SC 13G/A - Churchill Downs Inc (0000020212) (Subject)

      11/12/24 9:55:14 AM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Churchill Downs Incorporated (Amendment)

      SC 13G/A - Churchill Downs Inc (0000020212) (Subject)

      2/13/24 5:02:29 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary

    $CHDN
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    • Barclays initiated coverage on Churchill Downs with a new price target

      Barclays initiated coverage of Churchill Downs with a rating of Overweight and set a new price target of $125.00

      4/11/25 9:07:03 AM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs upgraded by BofA Securities with a new price target

      BofA Securities upgraded Churchill Downs from Neutral to Buy and set a new price target of $155.00 from $145.00 previously

      8/12/24 7:31:48 AM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs upgraded by Wells Fargo with a new price target

      Wells Fargo upgraded Churchill Downs from Equal Weight to Overweight and set a new price target of $141.00 from $137.00 previously

      4/15/24 7:38:23 AM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary

    $CHDN
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    • SEC Form 10-Q filed by Churchill Downs Incorporated

      10-Q - Churchill Downs Inc (0000020212) (Filer)

      4/23/25 4:33:56 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs Incorporated filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - Churchill Downs Inc (0000020212) (Filer)

      4/23/25 4:13:36 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
    • Churchill Downs Incorporated filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

      8-K - Churchill Downs Inc (0000020212) (Filer)

      4/22/25 5:13:24 PM ET
      $CHDN
      Services-Misc. Amusement & Recreation
      Consumer Discretionary