CHDN
Churchill Downs Inc
Consumer
03/16/2015
Presented
| Date | 03/11/2015 |
| Price | $18.33 |
| Market Cap | $1.88B |
| Ent Value | $2.59B |
| P/E Ratio | 41.7x |
| Book Value | $40.86 |
| Div Yield | 0.91% |
| Shares O/S | 102.79M |
| Ave Daily Vol | 300,000 |
| Short Int | 3.75% |
Current
| Price | $138.82 |
| Market Cap | $10.19B |
| Churchill Downs Incorporated provides pari-mutuel horseracing, online account wagering on horseracing, and casino gaming services. It operates in five segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc., and Other Investments. The company offers casino gaming through its casinos in Mississippi, its slot and video poker operations in Louisiana, its slot operations in Florida, and its casino in Maine. It also operates racing facilities, such as Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 10 off-track betting facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida. In addition, the company through TwinSpires.com accepts online and mobile pari-mutuel wagers, as well as offers streaming video of live horse races along with race replays and an assortment of racing and handicapping information. Further, it develops casual games for PCs and mobile devices in various genres, including social casino, match three, hidden object, tycoon, mystery, and adventure. Additionally, the company manufactures and operates pari-mutuel wagering systems for racetracks, off-track betting facilities, and other pari-mutuel wagering businesses; and multimedia poker content brand and publishing. Churchill Downs Incorporated was founded in 1928 and is headquartered in Louisville, Kentucky. |
Please note, this stock split on 01/28/2019 at a ratio of 3/1 and again on 05/22/23 at a ratio of 2/1. The presented data has been updated to account for the change, however, the text of the note may refer to data based on the original presented price of $110.00.
Publicly traded companies mentioned herein: Churchill Downs Inc (CHDN), International Game Technology (IGT), King Digital Entertainment plc (KING), Zynga, Inc. (ZNGA)
Highlights
The presenter is long shares of Churchill Downs (CHDN), and believes a combination of real estate value and the November, 2014 purchase of Big Fish Games provide shareholders with an excellent platform for growth and a favorable risk/ reward setup. The Kentucky Derby will remain a substantial driver of revenue and profitability (Derby Week 2014 was the fifth consecutive record), but a relatively new (and young) C-suite - led by CEO William Carstanjen and President and CFO William Mudd - appears to be focused on growing the business for years to come.
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