Churchill Downs Reports Record Q3 Revenue and Announces $750 Million Share Buyback
Churchill Downs Incorporated (CHDN) reported record-breaking financial results for the third quarter, achieving net revenue of $696 million and adjusted EBITDA of $264 million. Under the leadership of CEO William C. Carstanjen, the company is focusing on optimizing its balance sheet through strategic asset management. The company has outlined plans to sell regional gaming assets by year-end to reduce leverage to below 3.0x. Additionally, Churchill Downs has authorized a $750 million share buyback program, signaling confidence in its cash flow and long-term value proposition for shareholders.
