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Churchill Downs CHDN Gaming — Equipment And Technology Expense

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Other financials

Income statement

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Revenue$980.0M+4.9%
Operating income$357.0M+8.9%
Net income$241.0M+11.1%
EPS (diluted)$3.42+14.4%

Balance sheet

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Cash & equivalents$295.0M+3.3%
Total debt$2.3B+18.9%
Total equity$1.3B+28.7%
Total assets$7.5B+2.0%

Cash flow

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Operating cash flow$217.0M-9.8%
CapEx$19.0M+0.5%
Free cash flow$198.0M-10.6%

Valuation

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Market cap$6.06B-15.6%
Enterprise value$8.05B-8.7%
P/E14.7×-2.0×
P/S-0.5×

Profitability

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Operating margin24.1%-1.2pp
Net margin13.8%-1.4pp
FCF margin24%-1.0pp

Returns & leverage

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Return on equity34.7%-6.9pp
Debt / equity1.7×-0.1×
Current ratio0.4×-0.2×

Where this comes from

Reported directly by Churchill Downs in its filing.

Tagged under the XBRL concept chdn:EquipmentAndTechnologyExpense.

The source filing: Churchill Downs’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:31 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000020212-26-000059
(in millions)Live and Historical RacingWagering Services and SolutionsGaming
Content expense(1)(78)(2)
Selling, general and administrative expense(14)(4)(12)
Maintenance, insurance and utilities(13)(3)(9)
Gaming equipment rental and technology costs(13)(2)(5)
Food and beverage costs(4)(4)
Other operating expense(1)(37)(15)(18)
Equity in income of unconsolidated affiliates50
Other income

Item 1. Financial Statements (Unaudited)

FAQ

What is Churchill Downs's gaming — equipment and technology expense?
Churchill Downs (CHDN) reported gaming — equipment and technology expense of $5M in Q2 2026.
How has Churchill Downs's gaming — equipment and technology expense changed year-over-year?
Churchill Downs's gaming — equipment and technology expense increased by 13.6% year-over-year, from $4.4M to $5M.
What is the long-term trend for Churchill Downs's gaming — equipment and technology expense?
Over 3 years (2022 to 2025), Churchill Downs's gaming — equipment and technology expense has grown at a 13.8% compound annual growth rate (CAGR), from $11.8M to $17.4M.
What does gaming — equipment and technology expense mean?
Captures the costs related to the maintenance, licensing, and operation of gaming machines, digital platforms, and supporting hardware infrastructure. This expense is critical for assessing the technological competitiveness and modernization efforts of the gaming segment.

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