Churchill Downs Incorporated Buyback
OLI recorded this information on 9/29/2021
Company:
Churchill Downs Incorporated
Buyback:
CHDN buyback
$Amount Authorized:
$500,000,000
Buyback Details:
Churchill Downs Incorporated ("CDI" or "Company") (Nasdaq: CHDN) announced today that the Company's Board of Directors approved a $500 million share repurchase program. The new share repurchase program replaces the prior $300 million program that was authorized in October 2018 and had unused authorization of $97.9 million as of September 29, 2021. The new share repurchase program includes and is not in addition to any unspent amount remaining under the prior authorization. Share repurchases may be made at management's discretion from time to time in the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. The repurchase program has no time limit and may be suspended or discontinued at any time.
Churchill Downs is a racing, online wagering and gaming entertainment company. Co. owns and operates three pari-mutuel gaming entertainment venues with historical racing machines in Kentucky. Co. manages its operations via three segments: Live and Historical Racing, which includes live and historical pari-mutuel racing related revenue and expenses at Churchill Downs Racetrack, Derby City Gaming, Oak Grove, Turfway Park, and Newport; TwinSpires, which includes online horse racing and the online and retail sports betting and iGaming wagering business; and Gaming, which includes casino properties and associated racetrack or jai alai facilities which support the casino license as applicable.
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Avg. Broker Rec.
 
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Strong Buy (3.56 out of 4) 61st percentile
(ranked higher than approx. 61% of all stocks covered)
Analysts' Target Price: CHDN Stock Forecast Based on Zacks ABR data; powered by Xignite |
