$CHDN

2 stories mentioning CHDNUpdated 20d ago

Every FINWIRES story that references CHDN, newest first.

Regional Gaming Companies Set for Q2 Upside, BofA Says

PENN Entertainment (PENN), Churchill Downs (CHDN), and other regional gaming companies are expected to surpass market expectations in Q2, while Macau-based operators are likely to deliver mixed results, BofA Securities said Monday in a report.For regional companies, BofA projects same-store gross gaming revenue growth of 3% from a year earlier in April and May, with June flat.For online gaming companies, while the World Cup supported trends in June, BofA flagged concerns about wagering-volume growth in Q3 and Q4 as prediction-market activity continues to accelerate.For Macau operators, BofA expects Las Vegas Sands (LVS) to miss estimates and MGM Resorts International (MGM) to beat expectations.Las Vegas Strip gaming operators are expected to deliver results in line with consensus expectations, the report said.BofA lifted its price objective to $22 from $18 on PENN stock and to $70 from $60 on Red Rock Resorts (RRR), and cut its objective to $60 from $70 on Las Vegas Sands.Price: $21.41, Change: $+0.84, Percent Change: +4.08%

$CHDN$LVS$MGM$PENN$RRR

Wire110d ago

Churchill Downs Secures Preakness Intellectual Property in $85 Million Agreement

Churchill Downs (CHDN) said Tuesday it has entered into a definitive agreement to acquire the intellectual property rights, including trademarks and associated rights, to the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Racing affiliate 1/ST Maryland in an $85 million deal.Under the deal, Churchill Downs will license the rights to the State of Maryland to continue operating the races in exchange for an annual fee, the company said.The deal is expected to close after the 2026 Preakness Stakes and will be funded with cash on hand and the company's existing credit facility, it added.Shares of Churchill Downs were up about 1.0% in Tuesday trading.Price: $94.15, Change: $+1.24, Percent Change: +1.33%

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