Churchill Downs Inc

Churchill Downs Incorporated announced that the State of Maryland intends to exercise its rights to acquire the intellectual property (IP) of the Preakness Stakes and Black-Eyed Susan Stakes. The state will match Churchill Downs' previously announced $85 million purchase price for these IP Rights from 1/ST Maryland LLC. Churchill Downs' CEO, Bill Carstanjen, stated the company understands the state's decision and remains committed to working with Maryland leaders on the redevelopment of Pimlico and the Preakness Stakes.

Churchill Downs Inc. announced record-setting financial performance for the 152nd Kentucky Derby Week, expecting $15 million to $18 million in Adjusted EBITDA growth for Churchill Downs Racetrack. All-sources handle for Derby Week reached a new record of $487 million, a 3% increase from the prior year. TwinSpires also achieved new records for Derby Week and Derby Day wagering. Golden Tempo won the Kentucky Derby, making Cherie DeVaux the first woman trainer to achieve this feat.

Churchill Downs Inc. announced record-breaking wagering for the 152nd running of the Longines Kentucky Oaks, with total race day wagering reaching $89 million, an 18% increase from 2024. All-sources wagering on the Kentucky Oaks race itself hit over $29 million, up 29% year-over-year, and TwinSpires also set a new record with $24 million in wagers. The event, attended by over 103,000 fans, also continued its tradition of supporting women's health initiatives, raising nearly $2 million through its Survivors Parade.

Churchill Downs Inc.'s Chief Executive Officer, William C. Carstanjen, and Executive Vice President and Chief Financial Officer, Marcia A. Dall, have certified the company's Quarterly Report on Form 10-Q for the year ended March 31, 2026. This certification, made pursuant to 18 U.S.C. Section 1350 and Section 906 of the Sarbanes-Oxley Act of 2002, confirms that the report fully complies with the Securities Exchange Act of 1934 and fairly presents the company's financial condition and results of operations in all material respects.

Churchill Downs Incorporated announced its financial results for the first quarter ended March 31, 2026. The company issued a news release on April 22, 2026, detailing its operations and financial condition for the period. This press release is attached as Exhibit 99.1 to the Form 8-K filing.

Churchill Downs Inc. reported strong first-quarter 2026 financial results, achieving record net revenue of $663 million, an increase of 3% from the prior year. Net income attributable to CDI grew 8% to $83 million, and Adjusted EBITDA reached a record $257 million, up 5%. The company also highlighted strategic investments, including a $180-$200 million plan for Rockingham Grand Casino and the $85 million acquisition of Preakness Stakes intellectual property, alongside paying its fifteenth consecutive increased dividend.

Churchill Downs Inc. announced a definitive agreement to acquire the intellectual property rights for the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85 million. This strategic acquisition adds a major iconic brand in American sports to CDI's portfolio, aligning with its strategy to invest in premier Thoroughbred racing assets. The company plans to fund the transaction using cash on hand and its existing credit facility, with closing expected after the 2026 Preakness Stakes. CDI will also license the IP rights back to the State of Maryland for an annual fee to ensure the races continue.