{"id":132643,"date":"2026-10-31T09:07:09","date_gmt":"2026-10-31T08:07:09","guid":{"rendered":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/"},"modified":"2026-10-31T09:07:09","modified_gmt":"2026-10-31T08:07:09","slug":"churchill-downs-750m-buyback-record-q3-revenue","status":"publish","type":"post","link":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/","title":{"rendered":"Churchill Downs Approves $750M Buyback on Record Q3 Results"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Churchill Downs Authorizes $750 Million Share Buyback \u2013 Record Quarterly Revenue Drives New Shareholder Returns and Expansion Plans<\/p>\n\n<span class=\"anchor\" id=\"key-takeaways\" title=\"Key Takeaways\"><\/span><h2 class=\"wp-block-heading\">Key Takeaways<\/h2>\n\n<ul class=\"wp-block-list\"><li>Churchill Downs Incorporated reported a record third-quarter revenue of $696 million alongside an adjusted EBITDA of $264 million.<\/li><li>The board authorized a $750 million share repurchase program and increased the annual dividend to $0.469 per share.<\/li><li>The company secured zoning approval for a new 150-machine historical racing venue in Virginia to replace an existing facility.<\/li><li>CDI and the New York Racing Association expanded their 2027 Thoroughbred Championship Series to feature 10 races and over $22 million in prizes.<\/li><\/ul>\n\n<span class=\"anchor\" id=\"record-third-quarter-revenue-drives-increased-shareholder-returns\" title=\"Record Third-Quarter Revenue Drives Increased Shareholder Returns\"><\/span><h2 class=\"wp-block-heading\">Record Third-Quarter Revenue Drives Increased Shareholder Returns<\/h2>\n\n<p class=\"wp-block-paragraph\">Churchill Downs Incorporated posted significant financial growth during the third quarter, setting new company records across three major performance metrics. Quarterly revenue climbed by $13 million, representing a 2% increase, to reach a total of <strong>$696 million<\/strong>. Adjusted EBITDA also saw an uptick, rising by $2 million to hit $264 million for the period. Net income attributable to the company more than doubled, climbing from $38 million a year earlier to $80 million.<\/p>\n\n<p class=\"wp-block-paragraph\">Management utilized this financial position to restructure its debt profile and authorize new capital returns for shareholders. The company entered into a new <strong>$500 million Term Loan B<\/strong> that matures in 2033. Executives also amended and extended the revolving credit facility and Term Loan A at rates they categorized as favorable.<\/p>\n\n<p class=\"wp-block-paragraph\">The board approved a $750 million share repurchase program that immediately replaces the previous authorization rather than adding to the existing balance. The company already repurchased $48 million of its shares during the third quarter. Shareholders will see direct returns through an updated dividend structure. The board authorized a 7% increase in the annual dividend, which now stands at $0.469 per share. The upcoming payment is scheduled for January 5, 2027, catering to stockholders of record as of December 4, 2026.<\/p>\n\n<span class=\"anchor\" id=\"virginia-expansion-focuses-on-upgraded-historical-racing-venue\" title=\"Virginia Expansion Focuses on Upgraded Historical Racing Venue\"><\/span><h2 class=\"wp-block-heading\">Virginia Expansion Focuses on Upgraded Historical Racing Venue<\/h2>\n\n<p class=\"wp-block-paragraph\">Historical racing operations remain one of the three central growth pillars identified by CEO Bill Carstanjen, alongside the Churchill Downs racetrack and the TwinSpires platform. The company recently secured a special use permit from the Henry County Board of Zoning Appeals to advance its footprint in Virginia. This approval paves the way for a new historical racing machine entertainment venue near the Martinsville Speedway.<\/p>\n\n<p class=\"wp-block-paragraph\">The new facility will sit north of the U.S. 58 Bypass and east of Old Greensboro Road. Plans for the site feature a significant capacity upgrade, housing <strong>150 historical racing machines<\/strong> alongside simulcast racing and dedicated food and beverage options. This venue is designed to replace Rosie\u2019s Game Room in Collinsville, a smaller location that currently operates just 37 machines.<\/p>\n\n<p class=\"wp-block-paragraph\">Project design and development plans are currently undergoing finalization by the company. Carstanjen informed investors that this expansion aligns with the core business strategy. The CEO noted that historical racing operations combine strong cash generation with durable competitive advantages and attractive opportunities for profitable growth.<\/p>\n\n<span class=\"anchor\" id=\"partnership-with-new-york-racing-association-expands-2027-event-series\" title=\"Partnership With New York Racing Association Expands 2027 Event Series\"><\/span><h2 class=\"wp-block-heading\">Partnership With New York Racing Association Expands 2027 Event Series<\/h2>\n\n<p class=\"wp-block-paragraph\">The racing segment continues to serve as a central focus for the corporate portfolio. Carstanjen described the Churchill Downs racetrack and the Kentucky Derby, specifically the expanding Derby Week events, as the crown jewel of the company. CDI is deepening its collaboration with the New York Racing Association to broaden the Thoroughbred Championship Series well before its inaugural season in 2027. The two entities initially planned a six-race competition limited to 3-year-old thoroughbreds.<\/p>\n\n<p class=\"wp-block-paragraph\">Executives expanded this vision roughly two-and-a-half months after the initial announcement. The partners have now added separate Derby and Oaks divisions to the upcoming series. The combined divisions will offer a total of 10 races with more than <strong>$22 million in purses and prizes<\/strong>. National broadcast coverage for every race is secured through television agreements with the NBC and FOX networks.<\/p>\n\n<p class=\"wp-block-paragraph\">The relationship between the two organizations now extends into backend infrastructure and betting operations. CDI recently finalized its acquisition of a 49% stake in United Tote Company directly from the New York Racing Association. The companies also agreed to extend their existing tote services agreement through the year 2035.<\/p>\n\n<span class=\"anchor\" id=\"our-assessment\" title=\"Our Assessment\"><\/span><h2 class=\"wp-block-heading\">Our Assessment<\/h2>\n\n<p class=\"wp-block-paragraph\">The third-quarter financial results highlight a period of aggressive capital restructuring and expansion for Churchill Downs Incorporated. Doubling net income year-over-year provides the company with the necessary liquidity to fund both enhanced shareholder returns and physical venue development. The approval of a $750 million buyback program and a higher dividend payout reflects management\u2019s confidence in the sustained cash generation of its three core business units.<\/p>\n\n<p class=\"wp-block-paragraph\">Securing zoning approval for a larger Virginia historical racing facility demonstrates a clear strategy to scale profitable operations by replacing lower-capacity venues. The expanded 2027 Thoroughbred Championship Series and the long-term United Tote agreement solidify the strategic alliance with the New York Racing Association. These moves position the company to leverage its core racing products while expanding its technological and physical footprint in the gaming sector.<\/p>\n\n<div class=\"gambling-disclaimer\">\n\t<p>\n\t\tWe have imposed strict editorial guidelines on ourselves and explain our testing methods openly and comprehensively. We also communicate transparently how our work is financed. This site may contain tracking links, but this does not influence our objective view in any way.\t<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Churchill Downs authorized a $750 million share repurchase program following record third-quarter earnings. The company is also advancing a new historical racing venue in Virginia and expanding its 2027 racing series.<\/p>\n","protected":false},"author":8,"featured_media":132642,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[],"tags":[],"news_crypto_coin":[],"class_list":["post-132643","post","type-post","status-publish","format-standard","has-post-thumbnail"],"acf":{"faqs":null,"sort_number":999,"sort_number_no_override":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.2 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Churchill Downs $750M Buyback &amp; Record Q3 Revenue<\/title>\n<meta name=\"description\" content=\"Churchill Downs Incorporated reported a record $696 million in Q3 revenue, fueling a $750 million share buyback and a new historical racing venue in Virginia.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kryptocasinos.com EN\" \/>\n<meta property=\"og:description\" content=\"Churchill Downs Incorporated reported a record $696 million in Q3 revenue, fueling a $750 million share buyback and a new historical racing venue in Virginia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Kryptocasinos.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kryptocasinoscomm\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-31T08:07:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/10\/churchill-downs-750m-buyback-record-q3-revenue.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1408\" \/>\n\t<meta property=\"og:image:height\" content=\"736\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Isabella Brown\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Isabella Brown\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/\"},\"author\":{\"name\":\"Isabella Brown\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#\\\/schema\\\/person\\\/badee6a5ed8b6777da5bd380d112bcdc\"},\"headline\":\"Churchill Downs Approves $750M Buyback on Record Q3 Results\",\"datePublished\":\"2026-10-31T09:07:09+01:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/\"},\"wordCount\":789,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2026\\\/10\\\/churchill-downs-750m-buyback-record-q3-revenue.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/#respond\"]}],\"description\":\"\",\"isAccessibleForFree\":true,\"articleBody\":\"Churchill Downs Authorizes $750 Million Share Buyback - Record Quarterly Revenue Drives New Shareholder Returns and Expansion Plans\\n\\nKey Takeaways\\n\\nChurchill Downs Incorporated reported a record third-quarter revenue of $696 million alongside an adjusted EBITDA of $264 million.The board authorized a $750 million share repurchase program and increased the annual dividend to $0.469 per share.The company secured zoning approval for a new 150-machine historical racing venue in Virginia to replace an existing facility.CDI and the New York Racing Association expanded their 2027 Thoroughbred Championship Series to feature 10 races and over $22 million in prizes.\\n\\nRecord Third-Quarter Revenue Drives Increased Shareholder Returns\\n\\nChurchill Downs Incorporated posted significant financial growth during the third quarter, setting new company records across three major performance metrics. Quarterly revenue climbed by $13 million, representing a 2% increase, to reach a total of $696 million. Adjusted EBITDA also saw an uptick, rising by $2 million to hit $264 million for the period. Net income attributable to the company more than doubled, climbing from $38 million a year earlier to $80 million.\\n\\nManagement utilized this financial position to restructure its debt profile and authorize new capital returns for shareholders. The company entered into a new $500 million Term Loan B that matures in 2033. Executives also amended and extended the revolving credit facility and Term Loan A at rates they categorized as favorable.\\n\\nThe board approved a $750 million share repurchase program that immediately replaces the previous authorization rather than adding to the existing balance. The company already repurchased $48 million of its shares during the third quarter. Shareholders will see direct returns through an updated dividend structure. The board authorized a 7% increase in the annual dividend, which now stands at $0.469 per share. The upcoming payment is scheduled for January 5, 2027, catering to stockholders of record as of December 4, 2026.\\n\\nVirginia Expansion Focuses on Upgraded Historical Racing Venue\\n\\nHistorical racing operations remain one of the three central growth pillars identified by CEO Bill Carstanjen, alongside the Churchill Downs racetrack and the TwinSpires platform. The company recently secured a special use permit from the Henry County Board of Zoning Appeals to advance its footprint in Virginia. This approval paves the way for a new historical racing machine entertainment venue near the Martinsville Speedway.\\n\\nThe new facility will sit north of the U.S. 58 Bypass and east of Old Greensboro Road. Plans for the site feature a significant capacity upgrade, housing 150 historical racing machines alongside simulcast racing and dedicated food and beverage options. This venue is designed to replace Rosie's Game Room in Collinsville, a smaller location that currently operates just 37 machines.\\n\\nProject design and development plans are currently undergoing finalization by the company. Carstanjen informed investors that this expansion aligns with the core business strategy. The CEO noted that historical racing operations combine strong cash generation with durable competitive advantages and attractive opportunities for profitable growth.\\n\\nPartnership With New York Racing Association Expands 2027 Event Series\\n\\nThe racing segment continues to serve as a central focus for the corporate portfolio. Carstanjen described the Churchill Downs racetrack and the Kentucky Derby, specifically the expanding Derby Week events, as the crown jewel of the company. CDI is deepening its collaboration with the New York Racing Association to broaden the Thoroughbred Championship Series well before its inaugural season in 2027. The two entities initially planned a six-race competition limited to 3-year-old thoroughbreds.\\n\\nExecutives expanded this vision roughly two-and-a-half months after the initial announcement. The partners have now added separate Derby and Oaks divisions to the upcoming series. The combined divisions will offer a total of 10 races with more than $22 million in purses and prizes. National broadcast coverage for every race is secured through television agreements with the NBC and FOX networks.\\n\\nThe relationship between the two organizations now extends into backend infrastructure and betting operations. CDI recently finalized its acquisition of a 49% stake in United Tote Company directly from the New York Racing Association. The companies also agreed to extend their existing tote services agreement through the year 2035.\\n\\nOur Assessment\\n\\nThe third-quarter financial results highlight a period of aggressive capital restructuring and expansion for Churchill Downs Incorporated. Doubling net income year-over-year provides the company with the necessary liquidity to fund both enhanced shareholder returns and physical venue development. The approval of a $750 million buyback program and a higher dividend payout reflects management's confidence in the sustained cash generation of its three core business units.\\n\\nSecuring zoning approval for a larger Virginia historical racing facility demonstrates a clear strategy to scale profitable operations by replacing lower-capacity venues. The expanded 2027 Thoroughbred Championship Series and the long-term United Tote agreement solidify the strategic alliance with the New York Racing Association. These moves position the company to leverage its core racing products while expanding its technological and physical footprint in the gaming sector.\\n\\n\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/\",\"name\":\"Churchill Downs $750M Buyback & Record Q3 Revenue\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2026\\\/10\\\/churchill-downs-750m-buyback-record-q3-revenue.jpg\",\"datePublished\":\"2026-10-31T09:07:09+01:00\",\"description\":\"Churchill Downs Incorporated reported a record $696 million in Q3 revenue, fueling a $750 million share buyback and a new historical racing venue in Virginia.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2026\\\/10\\\/churchill-downs-750m-buyback-record-q3-revenue.jpg\",\"contentUrl\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2026\\\/10\\\/churchill-downs-750m-buyback-record-q3-revenue.jpg\",\"width\":1408,\"height\":736,\"caption\":\"Stacked gold coins and a gold trophy on a race track segment.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/news\\\/churchill-downs-750m-buyback-record-q3-revenue\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Churchill Downs Approves $750M Buyback on Record Q3 Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/\",\"name\":\"Kryptocasinos.com\",\"description\":\"\",\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#organization\",\"name\":\"Kryptocasinos.com\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/kryptocasinos-com-logo.svg\",\"contentUrl\":\"https:\\\/\\\/www.kryptocasinos.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/kryptocasinos-com-logo.svg\",\"width\":109,\"height\":34,\"caption\":\"Kryptocasinos.com\"},\"image\":{\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/kryptocasinoscomm\\\/\"],\"description\":\"Explore the best crypto casinos for %%currentyear%%. Compare top Bitcoin gambling sites by payouts, bonuses, KYC, and supported coins, with hands-on testing.\",\"address\":{\"@type\":\"PostalAddress\",\"streetAddress\":\"557 Fuk Wing St\",\"addressLocality\":\"Cheung Sha Wan\",\"addressRegion\":\"HK\",\"postalCode\":\"999077\",\"addressCountry\":\"CN\"},\"contactPoint\":{\"@type\":\"ContactPoint\",\"email\":\"contact@kryptocasinos.com\"},\"foundingDate\":\"2021-03-27\",\"email\":\"hello@kryptocasinos.com\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"11\",\"maxValue\":\"50\"},\"publishingPrinciples\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/editorial-guidelines\\\/\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/#\\\/schema\\\/person\\\/badee6a5ed8b6777da5bd380d112bcdc\",\"name\":\"Isabella Brown\",\"description\":\"Isabella Brown is a Senior Editor and Crypto Gambling Analyst at KryptoCasinos.com. She has worked in iGaming since 2017, including three years analyzing industry news and trends at iGaming Business (iGB). She covers crypto gambling regulation, casino security, and market developments for US readers, and checks site content for accuracy before publication.\",\"birthDate\":\"1995-02-13\",\"url\":\"https:\\\/\\\/www.kryptocasinos.com\\\/en\\\/author\\\/isabella\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Churchill Downs $750M Buyback & Record Q3 Revenue","description":"Churchill Downs Incorporated reported a record $696 million in Q3 revenue, fueling a $750 million share buyback and a new historical racing venue in Virginia.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/","og_type":"article","og_title":"Kryptocasinos.com EN","og_description":"Churchill Downs Incorporated reported a record $696 million in Q3 revenue, fueling a $750 million share buyback and a new historical racing venue in Virginia.","og_url":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/","og_site_name":"Kryptocasinos.com","article_publisher":"https:\/\/www.facebook.com\/kryptocasinoscomm\/","article_published_time":"2026-10-31T08:07:09+00:00","og_image":[{"width":1408,"height":736,"url":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/10\/churchill-downs-750m-buyback-record-q3-revenue.jpg","type":"image\/jpeg"}],"author":"Isabella Brown","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Isabella Brown","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/#article","isPartOf":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/"},"author":{"name":"Isabella Brown","@id":"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/person\/badee6a5ed8b6777da5bd380d112bcdc"},"headline":"Churchill Downs Approves $750M Buyback on Record Q3 Results","datePublished":"2026-10-31T09:07:09+01:00","mainEntityOfPage":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/"},"wordCount":789,"commentCount":0,"publisher":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#organization"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/10\/churchill-downs-750m-buyback-record-q3-revenue.jpg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/#respond"]}],"description":"","isAccessibleForFree":true,"articleBody":"Churchill Downs Authorizes $750 Million Share Buyback - Record Quarterly Revenue Drives New Shareholder Returns and Expansion Plans\n\nKey Takeaways\n\nChurchill Downs Incorporated reported a record third-quarter revenue of $696 million alongside an adjusted EBITDA of $264 million.The board authorized a $750 million share repurchase program and increased the annual dividend to $0.469 per share.The company secured zoning approval for a new 150-machine historical racing venue in Virginia to replace an existing facility.CDI and the New York Racing Association expanded their 2027 Thoroughbred Championship Series to feature 10 races and over $22 million in prizes.\n\nRecord Third-Quarter Revenue Drives Increased Shareholder Returns\n\nChurchill Downs Incorporated posted significant financial growth during the third quarter, setting new company records across three major performance metrics. Quarterly revenue climbed by $13 million, representing a 2% increase, to reach a total of $696 million. Adjusted EBITDA also saw an uptick, rising by $2 million to hit $264 million for the period. Net income attributable to the company more than doubled, climbing from $38 million a year earlier to $80 million.\n\nManagement utilized this financial position to restructure its debt profile and authorize new capital returns for shareholders. The company entered into a new $500 million Term Loan B that matures in 2033. Executives also amended and extended the revolving credit facility and Term Loan A at rates they categorized as favorable.\n\nThe board approved a $750 million share repurchase program that immediately replaces the previous authorization rather than adding to the existing balance. The company already repurchased $48 million of its shares during the third quarter. Shareholders will see direct returns through an updated dividend structure. The board authorized a 7% increase in the annual dividend, which now stands at $0.469 per share. The upcoming payment is scheduled for January 5, 2027, catering to stockholders of record as of December 4, 2026.\n\nVirginia Expansion Focuses on Upgraded Historical Racing Venue\n\nHistorical racing operations remain one of the three central growth pillars identified by CEO Bill Carstanjen, alongside the Churchill Downs racetrack and the TwinSpires platform. The company recently secured a special use permit from the Henry County Board of Zoning Appeals to advance its footprint in Virginia. This approval paves the way for a new historical racing machine entertainment venue near the Martinsville Speedway.\n\nThe new facility will sit north of the U.S. 58 Bypass and east of Old Greensboro Road. Plans for the site feature a significant capacity upgrade, housing 150 historical racing machines alongside simulcast racing and dedicated food and beverage options. This venue is designed to replace Rosie's Game Room in Collinsville, a smaller location that currently operates just 37 machines.\n\nProject design and development plans are currently undergoing finalization by the company. Carstanjen informed investors that this expansion aligns with the core business strategy. The CEO noted that historical racing operations combine strong cash generation with durable competitive advantages and attractive opportunities for profitable growth.\n\nPartnership With New York Racing Association Expands 2027 Event Series\n\nThe racing segment continues to serve as a central focus for the corporate portfolio. Carstanjen described the Churchill Downs racetrack and the Kentucky Derby, specifically the expanding Derby Week events, as the crown jewel of the company. CDI is deepening its collaboration with the New York Racing Association to broaden the Thoroughbred Championship Series well before its inaugural season in 2027. The two entities initially planned a six-race competition limited to 3-year-old thoroughbreds.\n\nExecutives expanded this vision roughly two-and-a-half months after the initial announcement. The partners have now added separate Derby and Oaks divisions to the upcoming series. The combined divisions will offer a total of 10 races with more than $22 million in purses and prizes. National broadcast coverage for every race is secured through television agreements with the NBC and FOX networks.\n\nThe relationship between the two organizations now extends into backend infrastructure and betting operations. CDI recently finalized its acquisition of a 49% stake in United Tote Company directly from the New York Racing Association. The companies also agreed to extend their existing tote services agreement through the year 2035.\n\nOur Assessment\n\nThe third-quarter financial results highlight a period of aggressive capital restructuring and expansion for Churchill Downs Incorporated. Doubling net income year-over-year provides the company with the necessary liquidity to fund both enhanced shareholder returns and physical venue development. The approval of a $750 million buyback program and a higher dividend payout reflects management's confidence in the sustained cash generation of its three core business units.\n\nSecuring zoning approval for a larger Virginia historical racing facility demonstrates a clear strategy to scale profitable operations by replacing lower-capacity venues. The expanded 2027 Thoroughbred Championship Series and the long-term United Tote agreement solidify the strategic alliance with the New York Racing Association. These moves position the company to leverage its core racing products while expanding its technological and physical footprint in the gaming sector.\n\n"},{"@type":"WebPage","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/","url":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/","name":"Churchill Downs $750M Buyback & Record Q3 Revenue","isPartOf":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/#primaryimage"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/#primaryimage"},"thumbnailUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/10\/churchill-downs-750m-buyback-record-q3-revenue.jpg","datePublished":"2026-10-31T09:07:09+01:00","description":"Churchill Downs Incorporated reported a record $696 million in Q3 revenue, fueling a $750 million share buyback and a new historical racing venue in Virginia.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/#primaryimage","url":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/10\/churchill-downs-750m-buyback-record-q3-revenue.jpg","contentUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2026\/10\/churchill-downs-750m-buyback-record-q3-revenue.jpg","width":1408,"height":736,"caption":"Stacked gold coins and a gold trophy on a race track segment."},{"@type":"BreadcrumbList","@id":"https:\/\/www.kryptocasinos.com\/en\/news\/churchill-downs-750m-buyback-record-q3-revenue\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.kryptocasinos.com\/en\/"},{"@type":"ListItem","position":2,"name":"Churchill Downs Approves $750M Buyback on Record Q3 Results"}]},{"@type":"WebSite","@id":"https:\/\/www.kryptocasinos.com\/en\/#website","url":"https:\/\/www.kryptocasinos.com\/en\/","name":"Kryptocasinos.com","description":"","inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.kryptocasinos.com\/en\/#organization","name":"Kryptocasinos.com","url":"https:\/\/www.kryptocasinos.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2025\/06\/kryptocasinos-com-logo.svg","contentUrl":"https:\/\/www.kryptocasinos.com\/wp-content\/uploads\/2025\/06\/kryptocasinos-com-logo.svg","width":109,"height":34,"caption":"Kryptocasinos.com"},"image":{"@id":"https:\/\/www.kryptocasinos.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/kryptocasinoscomm\/"],"description":"Explore the best crypto casinos for %%currentyear%%. 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