Churchill Downs to acquire majority of Casino Salem project in NH
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Churchill Downs (CHDN) Reports Earnings Tomorrow: What To Expect
Racing, gaming, and entertainment company Churchill Downs (NASDAQ:CHDN) will be reporting results this Wednesday after the bell. Here's what investors should know. Churchill Downs met analysts' revenue expectations last quarter, reporting revenues of $642.6 million, up 8.7% year on year. It was a mixed quarter for the company, with a decent beat of analysts' EPS estimates but a miss of analysts' adjusted operating income estimates. Is Churchill Downs a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Churchill Downs's revenue to grow 3.5% year on year to $921.6 million, slowing from the 15.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.00 per share. Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 5 downward revisions over the last 30 days (we track 9 analysts). Churchill Downs has missed Wall Street's revenue estimates three times over the last two years. Looking at Churchill Downs's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Levi's delivered year-on-year revenue growth of 6.4%, beating analysts' expectations by 5.8%, and Nike reported a revenue decline of 12%, topping estimates by 3.4%. Levi's traded up 11.1% following the results while Nike was also up 15.2%. Read our full analysis of Levi's results here and Nike's results here. There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.3% on average over the last month. Churchill Downs is up 5.5% during the same time and is heading into earnings with an average analyst price target of $132.68 (compared to the current share price of $105.36). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
15-07-2025
- Business Insider
Churchill Downs to acquire majority of Salem casino project joint venture
Churchill Downs (CHDN) announced that it has signed definitive agreements to acquire a majority of the outstanding equity interests of a Salem, New Hampshire joint venture with the right to develop a charitable gaming, entertainment and dining destination featuring historical horse racing machines. Casino Salem is located at The Mall at Rockingham Park, which is approximately 30 minutes from downtown Boston. Prominent local developers Joe Faro and Sal Lupoli will maintain ownership in Casino Salem. The initial phase of Casino Salem opened on July 9 with approximately 100 HRMs and 13 live table games. Over the coming months, CDI will finalize plans and commence construction of the future phases of the project including a rebranding of the venue, an expansion of the gaming floor, and several food and beverage concepts. Separately from Casino Salem, CDI will continue to operate its Chasers Poker Room in Salem. The company will finance the Salem Transaction using its existing credit facility. Closing of the Transaction is subject to usual and customary closing conditions, including receipt of approval by the New Hampshire Lottery Commission. The transaction is anticipated to close during the third quarter. Elevate Your Investing Strategy:
Business Insider
15-07-2025
- Business Insider
Churchill Downs to acquire majority of Casino Salem project in NH
Churchill Downs (CHDN) announced that it has signed definitive agreements to acquire a majority of the outstanding equity interests of a Salem, New Hampshire joint venture with the right to develop a charitable gaming, entertainment and dining destination featuring historical horse racing machines. The initial phase of Casino Salem opened on July 9th with approximately 100 HRMs and 13 live table games. Over the coming months, CDI will finalize plans and commence construction of the future phases of the project including a rebranding of the venue, an expansion of the gaming floor, and several food and beverage concepts. Separately from Casino Salem, CDI will continue to operate its Chasers Poker Room in Salem. The company will finance the Salem Transaction using its existing credit facility. Closing of the Transaction is subject to usual and customary closing conditions, including receipt of approval by the New Hampshire Lottery Commission. The Transaction is anticipated to close during the third quarter of 2025. Elevate Your Investing Strategy:
