Churchill Downs - M&A Summary and Business Overview

LeisureCompany

Churchill Downs M&A Summary

Churchill Downs has acquired 15 companies, including 5 in the last 5 years. A total of 2 acquisitions came from private equity firms.

Churchill Downs’ largest acquisition to date was in 2022, when it acquired Peninsula Pacific Entertainment for $2.8B. Churchill Downs has acquired in 10 different US states. The Company’s most targeted sectors include gaming (27%) and internet software and services (20%).

Churchill Downs Business Overview

Where is Churchill Downs headquartered?

Churchill Downs is headquartered in Louisville, Kentucky.

What is Churchill Downs’ revenue?

Churchill Downs disclosed revenue of 1,810M USD for 2022 and 1,597M USD for 2021.

How many employees does Churchill Downs have?

Churchill Downs has 5,500 employees.

What sector is Churchill Downs in?

Churchill Downs is a leisure company.

When was Churchill Downs founded?

Churchill Downs was founded in 1875.

M&A Summary

  • M&A Total Activity15
    • M&A Buy Activity15
  • Total Sectors Invested 8
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 4
  • M&A Advisors 3

Churchill Downs

Churchill Downs Inc.

600 North Hurstbourne Parkway, Suite 400,
Louisville, Kentucky 40222
United States,
(502) 636-4400
www.churchilldownsincorporated.com

Churchill Downs owns and operates the world-renowned Churchill Downs Racetrack, home of the Kentucky Derby and Kentucky Oaks, as well as racetrack and casino operations and a poker room. Churchill Downs was incorporated in 1875 and is based in Louisville, Kentucky.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 11 - - 4 - - 15
vol $1.4B $3.1B $4.4B
Sell (0.0/yr) # - - - - - - 0
  15

Most Recent M&A

Company Date Value Type
Exacta Systems LLC 2022-12-19 250M USD Add-on Acquisition
Boynton Beach, Florida · www.exactasystems.com
Peninsula Pacific Entertainment LLC 2022-11-01 2.8B USD Add-on Acquisition
LaMotte, Iowa · www.p2e.com
Ellis Entertainment LLC 2022-09-26 79M USD Add-on Acquisition
Henderson, Kentucky · www.ellisparkracing.com
Chasers Poker Room 2022-03-22 - Add-on Acquisition
Salem, New Hampshire · www.chaserspoker.com
Turfway Park 2019-10-03 46M USD Divestiture
Florence, Kentucky · www.turfway.com
Rivers Casino LLC 2018-10-31 - Add-on Acquisition
Des Plaines, Illinois · www.riverscasino.com
Big Fish Games, Inc. 2014-12-16 885M USD Add-on Acquisition
Seattle, Washington · www.bigfishgames.com
Oxford Casino 2013-03-29 160M USD Divestiture
Oxford, Maine · www.oxfordcasino.com
Riverwalk Casino Hotel 2012-10-05 141M USD Add-on Acquisition
Vicksburg, Mississippi · www.riverwalkvicksburg.com
Bluff Media 2012-02-10 - Add-on Acquisition
Atlanta, Georgia
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Gaming 4 (27%) 279M (6%) - -
Internet Software and Services 3 (20%) - - -
Leisure 2 (13%) 2.9B (65%) - -
Media 2 (13%) 125M (3%) - -
Business Services 1 (7%) - - -
Digital Media 1 (7%) 885M (20%) - -
Information Technology 1 (7%) 250M (6%) - -
Publishing 1 (7%) - - -
Total 15 $4.4B - -

By Geo

State/Country Buy Value Sell Value
United States 15 4.4B - -
  Kentucky 5 125M - -
  Mississippi 2 279M - -
  Washington 1 885M - -
  Ohio 1 - - -
  New Hampshire 1 - - -
  Maine 1 160M - -
  Iowa 1 2.8B - -
  Illinois 1 - - -
  Georgia 1 - - -
  Florida 1 250M - -
Total 15 $4.4B - -

Top M&A Advisors

Financial Deals
Goldman Sachs
 1
Macquarie Capital
 1
Legal Deals
Sidley
 3

Deal Values

buy # Total
> $1B 1 $2.8B
$100M to $1B 5 $1.6B
< $100M 2 $125M
TOTAL $4.4B
Largest Peninsula Pacific Entertainment LLC
$2.8B (2022-11-01)

M&A Connections

Deals
Acquired from
Investor(s)
13%
2 (13%)
Strategic(s)
13%
2 (13%)

Company Summary

SECTOR

Leisure

Revenue

1,810   14% 2022
1,597   52% 2021
1,054   21% 2020
1,330   32% 2019
1,009   15% 2018
883   33% 2017
1,309   9% 2016
1,212   50% 2015
813   5% 2014
779   7% 2013
731   2012
(millions of USD) Show More Show Less

Employees

5,500

Established

1875

Public

NASDAQ: CHDN

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