Churchill Downs says Kentucky Derby Day wagering set new record
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Forbes
5 days ago
- Forbes
Baffert Continues To Cultivate Talent At Del Mar
How does a coach continuously produce winners? Is it luck, hard work, talent levels in the ranks, execution of the gameplan, or a combination of the previously listed? Most familiar with competition understand it is usually some of all of the above. For one Thoroughbred trainer it has been all of the aforementioned plus a great garden spot that has been excellent for cultivating young horses. Bob Baffert has long been considered one of the best in the Thoroughbred racing game. Rightfully so we must add as he has had more horses cross the finish line first in the world's most famous race (7), the Kentucky Derby, trained more Preakness winners than anyone (8), has three wins in the Belmont Stakes, and has conditioned nineteen Breeders' Cup race winners. For good measure, 'Big Race Bob' also has more Grade 1 race wins (the highest level of competition) than any trainer in the game. How has this Arizona native remained at the pinnacle of the sport since beginning his Thoroughbred conditioning career in 1991? It all begins with developing his younger talent where the surf meets the turf down at old Del Mar. Nestled just north of San Diego, this piece of Thoroughbred racing heaven has been a prime location for the Baffert barn over the years. 'There are lots of things that make Del Mar a great place for our young horses', says Baffert, who has conditioned two Triple Crown winners (American Pharoah 2015, Justify 2018). 'The weather is always good and there is very little rain which is very important. You don't miss training time and that can be a big key in development. The track is always in great shape, the atmosphere is good, and it's just a great environment to be in.' Success has been synonymous with this Hall of Fame conditioner at the Seaside Oval as he has far more Stakes wins (177) at Del Mar than any other trainer. Among those are an incredible nineteen wins in the Del Mar Futurity and eleven in the Best Pal Stakes, two of the biggest races for two-year-old males at the track founded by Bing Crosby in 1937. 'Our program puts a lot of emphasis on developing young horses', says Baffert. 'We believe in doing it the right way. Some come around quicker than others. Each horse has to be handled a little differently because like any athlete, some develop quicker mentally and physically than others. Being patient is very important with all of them. Authentic is a good example of a horse we didn't run at Del Mar in the summer of his two-year-old year because he just was not ready. At three he won the Kentucky Derby and the Breeders' Cup Classic.' Developing young talent with works and races at Del Mar every summer has long been a staple of his team's success throughout the last three plus decades. Even though he is the man with the lineup card and pencil, Baffert points to other components as mainstays for his team's success. 'I am very fortunate to have clients that want to run in and win stakes races', says Baffert. 'They give me the freedom to pick the horses we purchase and buying the right horses is where it all begins. Our goal is always to run in the biggest races across the entire country and go in with a real chance to win. Having great people around me and backing me is most important. And it also is fantastic to get those young horses going at a great place like Del Mar.' The Bob Baffert barn will send two runners to post in the grade 3 Best Pal Stakes on Saturday, August 9. St. Petersburg will break from gate 3 and Desert Gate breaks from the 5 hole in the six furlong race over the Del Mar dirt.
Yahoo
05-08-2025
- Yahoo
DraftKings (DKNG) Q2 Earnings: What To Expect
Fantasy sports and betting company DraftKings (NASDAQ:DKNG) will be announcing earnings results this Wednesday after market close. Here's what to expect. DraftKings missed analysts' revenue expectations by 3.1% last quarter, reporting revenues of $1.41 billion, up 19.9% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts' expectations and full-year revenue guidance slightly missing analysts' expectations. It reported 4.3 million users, up 26.5% year on year. Is DraftKings a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting DraftKings's revenue to grow 29.4% year on year to $1.43 billion, improving from the 26.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.41 per share. Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 21 downward revisions over the last 30 days (we track 23 analysts). DraftKings has missed Wall Street's revenue estimates six times over the last two years. Looking at DraftKings's peers in the gaming solutions segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 22.2%, beating analysts' expectations by 7.6%, and Churchill Downs reported revenues up 4.9%, topping estimates by 1.4%. Rush Street Interactive traded up 25.7% following the results while Churchill Downs was also up 4.1%. Read our full analysis of Rush Street Interactive's results here and Churchill Downs's results here. There has been positive sentiment among investors in the gaming solutions segment, with share prices up 2.5% on average over the last month. DraftKings is up 11.1% during the same time and is heading into earnings with an average analyst price target of $53.59 (compared to the current share price of $45.10). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. 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.
Yahoo
04-08-2025
- Yahoo
Churchill Downs Incorporated (CHDN) Sold Off Following Earnings Release
Baron Funds, an investment management company, released its 'Baron Real Estate Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund rose 3.61% (Institutional Shares) in the quarter compared to a 1.46% decline for the MSCI US REIT Index (the REIT Index) and a 6.13% gain for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index). In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Real Estate Fund highlighted stocks such as Churchill Downs Incorporated (NASDAQ:CHDN). Churchill Downs Incorporated (NASDAQ:CHDN) is a US-based racing, online wagering, and gaming entertainment company. The one-month return of Churchill Downs Incorporated (NASDAQ:CHDN) was 1.04%, and its shares lost 21.40% of their value over the last 52 weeks. On August 29, 2025, Churchill Downs Incorporated (NASDAQ:CHDN) stock closed at $106.39 per share, with a market capitalization of $7.461 billion. Baron Real Estate Fund stated the following regarding Churchill Downs Incorporated (NASDAQ:CHDN) in its second quarter 2025 investor letter: "Churchill Downs Incorporated (NASDAQ:CHDN), which has acquired and developed various entertainment assets including the Churchill Downs racetrack which hosts the Kentucky Derby, was a detractor during the quarter following an earnings release that showed weakening trends in their Virginia market and lower-than-expected Kentucky Derby earnings. The company also indefinitely delayed a large project to expand the Kentucky Derby, but it was not clear about pivoting available capital to buying-back shares. We believe the Virginia market and their regional gaming portfolio may remain under pressure. The company has numerous growth projects with attractive prospects, but developments will take time to ramp to full profitability and in the meantime leverage remains high. Due to uncertain business trends and concerns around competitive pressures in their Virginia market, we decided to exit the position." A city skyline looking down on a busy racetrack with jockeys on horseback. Churchill Downs Incorporated (NASDAQ:CHDN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Churchill Downs Incorporated (NASDAQ:CHDN) at the end of the first quarter, which was 41 in the previous quarter. In the second quarter of 2025, Churchill Downs Incorporated (NASDAQ:CHDN) delivered all-time record net revenue of $934 million and all-time record adjusted EBITDA of $451 million. While we acknowledge the potential of Churchill Downs Incorporated (NASDAQ:CHDN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Churchill Downs Incorporated (NASDAQ:CHDN) and shared The London Company Mid Cap Strategy's views on the business. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. 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
