Churchill Downs Inc's Business Segments

Churchill Downs Incorporated is a renowned racing, online wagering, and gaming entertainment organization centred by the Kentucky Derby, our famous flagship event. In Kentucky, we own and manage three pari-mutuel gambling entertainment facilities with around 3,050 historical racing machines ("HRMs"). We also have nine retail sportsbooks and own and manage TwinSpires, one of the largest and most successful online wagering platforms for horse racing, sports, and iGaming in the United States. With nearly 11,000 slot machines and video lottery terminals ("VLTs"), as well as 200 table games, we are a leader in brick-and-mortar casino gambling in eight states. Our main executive offices are in Louisville, Kentucky, and we were founded as a Kentucky business in 1928.
The Live and Historical Racing segment includes live and historical pari-mutuel racing related revenue and expenses at Churchill Downs Racetrack, Derby City Gaming, Oak Grove, Turfway Park, and Newport. Churchill Downs Racetrack is the home of the Kentucky Derby and conducts live racing. Derby City Gaming is an HRM facility that operates under the Churchill Downs pari-mutuel racing license at the auxiliary training facility for Churchill Downs Racetrack in Louisville, Kentucky. Oak Grove conducts live harness racing and operates an HRM facility under its pari-mutuel racing license. Turfway Park conducts live racing, and Newport is an ancillary HRM facility that operates under the Turfway Park pari-mutuel racing license.

Churchill Downs Incorporated (CDI) offers a diverse array of segments, products, and services, primarily centered around live and historical racing, gaming, and advanced online wagering platforms. Below is a comprehensive overview of each segment and the associated offerings within CDI:

Live and Historical Racing Segment

This segment represents one of CDIs core operations and encompasses live and historical racing related revenue and expenses across various properties, including Churchill Downs Racetrack, Derby City Gaming, Oak Grove, Turfway Park, and Newport.

Churchill Downs Racetrack
- Location: Louisville, Kentucky
- Overview: Home of the iconic Kentucky Derby, Churchill Downs has been a staple in thoroughbred racing since 1875, with the Derby being America’s longest continuously held sporting event. The racetrack hosts live thoroughbred races and is designed to attract a diverse range of spectators, sponsors, and corporate partners.
- Revenue Sources:
- Pari-mutuel wagering on live races
- Historical race wagering
- Simulcast fees from other wagering sites
- Admissions, sponsorships, and TV rights
- Food and beverage services

Derby City Gaming
- Overview: Opened in September 2018, this state-of-the-art Historical Racing Machine (HRM) facility occupies 85,000 square feet at the Churchill Downs auxiliary training facility.
- Features:
- Approximately 1,225 HRMs
- A simulcast center
- Dining facilities offering both casual and upscale dining experiences
- Licensing: Operates under the Churchill Downs pari-mutuel racing license.

Oak Grove
- Overview: Situated about one hour north of Nashville, Tennessee, Oak Grove features both live harness racing and historical racing.
- Features:
- Premier facilities located on 240 acres
- A comprehensive HRM gaming operation
- Events and amenities catering to a high-end clientele.

Turfway Park
- Overview: Located in Florence, Kentucky, Turfway Park conducts live thoroughbred racing, featuring a modern racing surface and facilities.
- Features: Offers live racing events and is known for its commitment to quality and innovation in horse racing.

Newport
- Overview: An ancillary HRM facility that operates under the pari-mutuel racing license of Turfway Park, providing additional gaming options and experiences for patrons.

TwinSpires Segment

This segment encompasses both online horse racing wagering and sports betting, making it an integral part of CDIs operations.

TwinSpires Horse Racing
- Operation: TwinSpires.com and BetAmerica.com are the primary online platforms for horse racing wagering.
- Features:
- Provides advance deposit wagering (ADW) for customers in select states.
- Streaming capabilities for live horse races, including replays.
- Bloodstock Research Information Services platform for statistical data.
- Partnerships for white-label platforms to third parties, generating commission through technology services.

Sports and Casino
- Operation: Offers a comprehensive sports betting experience across multiple states, featuring mobile and online wagering.
- Features:
- Retail sportsbooks across states, including Colorado, Indiana, Maryland, Michigan, Pennsylvania, and Mississippi.
- iGaming options, including casino games available via online platforms in Michigan, New Jersey, and Pennsylvania.
- Integration with retail and online sports betting venues.

Gaming Segment

This segment focuses on the expansive casino operations and associated facilities supporting various gaming licenses across several states.

Key Properties
- Calder Casino: Located in Miami Gardens, Florida; features approximately 1,100 slot machines, two dining facilities, an entertainment venue, and a racetrack for thoroughbred horse racing.

- Fair Grounds and VSI: Located in New Orleans, Louisiana; includes a racecourse and a slots facility with about 600 slot machines, complemented by various amenities.

- Harlow’s Casino Resort and Spa: A premier destination in the Mississippi gaming market providing casino gaming, hotel accommodations, and unique dining experiences.

- Ocean Downs Casino: Located in Maryland, offering a mix of gaming and hospitality along with horse racing.

- Oxford Casino and Hotel: A full-service casino and hotel in Maine featuring a variety of slot machines and table games.

- Presque Isle Downs and Casino: Located in Pennsylvania with a racetrack, gaming facilities, and various dining options.

- Riverwalk Casino Hotel: Situated in Vicksburg, Mississippi, combining a hotel and casino experience.

Conclusion

Churchill Downs Inc. operates within a multi-faceted gaming ecosystem that includes live and historical racing venues, advanced online wagering platforms, and extensive casino operations. The company continues to innovate in the racing and gaming industries, aligning its offerings to provide comprehensive entertainment experiences for a diverse audience while maintaining its commitment to high-quality racing and gaming standards.