Churchill Downs CHDN Gaming — Operating expense

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Questions, answered.

What is Churchill Downs's gaming — operating expense?

Churchill Downs (CHDN) reported gaming — operating expense of $188M in Q1 2026.

How has Churchill Downs's gaming — operating expense changed year-over-year?

Churchill Downs's gaming — operating expense decreased by 2.1% year-over-year, from $192M to $188M.

What is the long-term trend for Churchill Downs's gaming — operating expense?

Over 4 years (2021 to 2025), Churchill Downs's gaming — operating expense has grown at a 12.5% compound annual growth rate (CAGR), from $476.3M to $762.9M.

What does gaming — operating expense mean?

The aggregate costs incurred to operate the gaming segment, including labor, marketing, utilities, and maintenance expenses. This metric captures the efficiency of the segment's cost structure in supporting its gaming operations. Monitoring this helps investors assess management's ability to control overhead and maintain margins amidst varying levels of revenue.