Churchill Downs approves $750 million share buyback program
Churchill Downs Incorporated said its board approved a $750 million share repurchase program, replacing a $500 million program authorized in July 2025.
Key takeaways
- Churchill Downs Incorporated (CHDN) said on Oct. 27 its board approved a $750 million share repurchase program. The program replaces a $500 million program authorized in July 2025, and includes the $306 million remaining under the prior authorization as of Oct. 27 close.
Churchill Downs Incorporated said in a regulatory filing that its board of directors approved a $750 million share repurchase program on Oct. 27. The company said in a press release that the program replaces its prior $500 million program, which was authorized in July 2025.
The new program includes the $306 million that remained under the prior authorization as of the close of trading on Oct. 27, according to the release. It is not in addition to that amount.
Share repurchases may be made at management's discretion from time to time in the open market, with or without a 10b5-1 plan, or through privately negotiated transactions, the company said.
The program has no time limit. It may be suspended or discontinued at any time, the filing said.
The company describes itself as having created entertainment experiences for over 150 years, beginning with Churchill Downs Racetrack, the home of the Kentucky Derby. It is headquartered in Louisville, Kentucky.
The stock's regular-session close was $81.83. No after-hours price move is available, because little stock had traded since the filing.
The announcement was furnished under Item 7.01 of the company's 8-K and is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.