New Projects and Acquisitions of Churchill Downs in 2024

Churchill Downs Incorporated (CDI), renowned for its iconic horse racing event, the Kentucky Derby, continues to expand its influence and operations in 2024. This year marks a period of strategic growth and diversification for the company, as it embarks on new projects and acquisitions aimed at enhancing its portfolio and broadening its market reach. With a rich history dating back to 1875, Churchill Downs has evolved from a premier horse racing venue into a multifaceted entertainment and gaming corporation. As we delve into the latest developments, we will explore how CDI’s innovative strategies and strategic investments are shaping the future of the company and the industry at large. In 2024, CDI’s commitment to excellence and innovation remains unwavering, solidifying its position as a leader in the global entertainment and gaming landscape.

Acquisition of Casino Properties

In 2024, Churchill Downs Incorporated (CDI) has strategically expanded its portfolio by acquiring new casino properties, further diversifying its revenue streams and solidifying its presence in the gaming industry. One of the most notable additions to CDI’s portfolio this year is the Terre Haute Casino Resort in Terre Haute, Indiana, which opened in April 2024. This new establishment includes a state-of-the-art gaming floor, multiple dining options, and a luxury hotel, significantly boosting CDI’s earnings and enhancing its market presence​.

CDI has expanded its operations into new geographic areas, further increasing its market share. For instance, the company has reported a notable increase in revenue from its operations in New York, driven by new partnerships and improved gaming facilities. These strategic moves are part of CDI’s broader effort to capitalize on the growing demand for casino and gaming entertainment across the United States.

The Terre Haute Casino Resort alone contributed an additional $33.9 million in revenue for the second quarter of 2024, highlighting the substantial impact of this acquisition. This aligns with CDI’s strategic objective to integrate high-quality properties that offer comprehensive entertainment experiences, thereby attracting a broader customer base and enhancing profitability​.

Churchill Downs’ focus on acquiring and developing casino properties underscores its commitment to growth and diversification in the entertainment and gaming sectors. These strategic acquisitions are expected to bring operational synergies and drive long-term value for the company and its stakeholders. As CDI continues to explore new opportunities and expand its foot.

Technological Innovations

In 2024, Churchill Downs Incorporated (CDI) has continued to be a pioneer in integrating technology within the racing and gaming industries. A significant focus this year has been the development and launch of advanced technological solutions aimed at enhancing the customer experience and operational efficiency.

• One of the key technological advancements is the launch of a new mobile betting platform. This platform offers an enriched user experience by providing more betting options and incorporating real-time data analytics. Designed to cater to the increasing demand for mobile and online gaming services, this innovation ensures that users can enjoy a seamless and interactive betting experience from their smartphones and tablets​.

• CDI has entered into a multi-year partnership with SAP America, a global leader in enterprise application software. This collaboration leverages SAP’s expertise in machine learning, Internet of Things (IoT), and advanced analytics to enhance CDI’s operations and customer insights. SAP’s technology helps CDI streamline its processes, improve customer engagement, and drive growth through data-driven decision-making​.

• CDI has relocated the headquarters of TwinSpires, its online horse racing wagering platform, to Louisville, Kentucky. This move not only supports the local economy by creating high-tech, high-paying jobs but also underscores CDI’s commitment to establishing Louisville as a hub for technological innovation. The relocation is part of a broader strategy to integrate cutting-edge technology and skilled talent into CDI’s operations, further enhancing its competitive edge in the market​.

Through these technological innovations and strategic partnerships, Churchill Downs Incorporated is well-positioned to meet the evolving demands of the gaming and entertainment industries, ensuring sustained growth and enhanced customer satisfaction.

Sustainable Initiatives

In 2024, Churchill Downs Incorporated (CDI) has reaffirmed its commitment to sustainability by initiating several projects aimed at reducing its environmental footprint. These initiatives are integral to CDI’s broader strategy of promoting sustainability within the racing and gaming industries.

Investment in Renewable Energy

CDI has made substantial investments in renewable energy sources across its venues. The company has partnered with leading renewable energy firms to install solar panels and other renewable energy systems at its key locations. For example, CDI has collaborated with NextEra Energy Resources, a prominent clean energy company, to develop and implement solar energy solutions at the Churchill Downs Racetrack and other facilities. This initiative not only reduces reliance on non-renewable energy sources but also helps in lowering greenhouse gas emissions, aligning with global sustainability goals​.

Comprehensive Recycling Programs

In addition to renewable energy investments, CDI has implemented comprehensive recycling programs across its properties. These programs are designed to minimize waste and promote the recycling of materials such as paper, plastic, glass, and aluminum. CDI has partnered withWaste Management, a leader in waste and environmental services, to enhance its recycling efforts. Together, they have established efficient waste separation and recycling systems at all major CDI venues, ensuring that waste is properly sorted and recycled, thereby reducing the environmental impact​.

Sustainable Water Management

Water conservation is another critical area where CDI is making strides. The company has introduced water-saving technologies and practices at its racetracks and other facilities. For instance, CDI has worked with EcoWater Systems, a provider of advanced water treatment solutions, to install water-efficient systems that reduce water usage and ensure sustainable water management. These systems help in conserving water resources and reducing the overall environmental footprint of CDI’s operations​.

Green Building Practices

CDI is also focusing on sustainable construction and renovation practices. The company follows green building standards for new projects and renovations, aiming to achieve certifications such as LEED (Leadership in Energy and Environmental Design). By incorporating energy-efficient designs, sustainable materials, and innovative technologies, CDI ensures that its buildings meet high environmental standards. Collaborations with companies like USGBC (U.S. Green Building Council) help CDI adhere to best practices in sustainable construction, promoting a healthier and more sustainable environment​.

Community Engagement and Education

Beyond its operational initiatives, CDI actively engages with the community to promote sustainability. The company organizes educational programs and events to raise awareness about environmental issues and sustainability practices. Partnerships with local environmental organizations and schools help CDI foster a culture of sustainability within the community. These efforts not only enhance the company’s environmental impact but also contribute to the broader goal of creating a sustainable future for all​.

Through these comprehensive initiatives and collaborations, Churchill Downs Incorporated demonstrates a strong commitment to sustainability. By investing in renewable energy, implementing robust recycling programs, and promoting sustainable practices, CDI sets a benchmark for environmental responsibility in the racing and gaming industries. These efforts are crucial in ensuring that CDI continues to lead by example, fostering a more sustainable and environmentally friendly future.

Final Thoughts

In 2024, Churchill Downs Incorporated (CDI) has achieved significant growth through key acquisitions, such as the Terre Haute Casino Resort in Indiana, and technological advancements, including a new mobile betting platform. Collaborations with SAP America and other tech firms have optimized operations using advanced data analytics and AI. CDI’s commitment to sustainability is evident in its renewable energy investments and recycling programs. The relocation of TwinSpires headquarters to Louisville, Kentucky, has fostered local economic growth and job creation. CDI continues to excel in the racing and gaming sectors while positively impacting the communities it serves. You can find the full report here.  Access the complete document to explore all findings and conclusions in depth.