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Churchill Downs CHDN Wagering Services and Solutions — Gaming Taxes

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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:GamingTaxes.

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
Revenues$575$178$270
Pari-mutuel taxes and purses(119)(8)(7)
Gaming taxes(2)(1)(81)
Marketing and advertising(16)(6)(8)
Salaries and benefits(38)(9)(41)
Content expense(1)(78)(2)
Selling, general and administrative expense(14)(4)(12)
Maintenance, insurance and utilities(13)(3)(9)

Item 1. Financial Statements (Unaudited)

FAQ

What is Churchill Downs's wagering services and solutions — gaming taxes?
Churchill Downs (CHDN) reported wagering services and solutions — gaming taxes of $1M in Q2 2026.
How has Churchill Downs's wagering services and solutions — gaming taxes changed year-over-year?
Churchill Downs's wagering services and solutions — gaming taxes increased by 100.0% year-over-year, from $500K to $1M.
What is the long-term trend for Churchill Downs's wagering services and solutions — gaming taxes?
Over 3 years (2022 to 2025), Churchill Downs's wagering services and solutions — gaming taxes has grown at a -34.8% compound annual growth rate (CAGR), from $8.3M to $2.3M.
What does wagering services and solutions — gaming taxes mean?
This reflects the specific tax obligations imposed by jurisdictions on gaming and wagering revenue. Monitoring this metric helps assess the impact of regulatory environments and tax rate changes on the segment's operating margins.

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