Author Topic: Churchill was investing almost $1 billion.....into their track  (Read 2521 times)

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Grandstand Handicapper

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https://www.bloodhorse.com/horse-racing/articles/284044/churchill-pauses-three-projects-due-to-tariff-concerns

Holding off due to tariff concerns. I get that. Understood. But investing $1 billion dollars into the racetrack? Not the casino. Not the historical racing parlor. Not off-site. The racetrack.

I guess it's all for the Derby and not the other 300 days a year.

Papillon

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #1 on: May 12, 2025, 02:05:25 PM »
https://www.bloodhorse.com/horse-racing/articles/284044/churchill-pauses-three-projects-due-to-tariff-concerns

Holding off due to tariff concerns. I get that. Understood. But investing $1 billion dollars into the racetrack? Not the casino. Not the historical racing parlor. Not off-site. The racetrack.

I guess it's all for the Derby and not the other 300 days a year.

The Oaks/Derby weekend is most of CDI profits

on those days-they charge a premium for their signal--so the rebate players only received 1-2% and they hate it

its all about the luxury boxes and suites...they have a room not even facing the track and get over $10k a seat--not counting Millionaires and The Mansion-the top floor--those seats go for over $50k

Grandstand Handicapper

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #2 on: May 12, 2025, 02:13:39 PM »
Hang on, are you saying that CDI-----which is publicly-traded, national, possibly international conglomerate, with racetracks, casinos, online wagering platforms, media interests, and United Tote-----still makes most of their profit on one weekend of racing? That's it?

Scooteroo

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #3 on: May 12, 2025, 02:24:36 PM »
It doesn't hurt when General Admission on Derby Day starts at $150. They make so much money that weekend it work take weeks to count up how much. The past few years Pimlico has only had between 10 to 14 live race dates so their profits from the Preakness cover their expenses for the rest of the year.

Grandstand Handicapper

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #4 on: May 12, 2025, 02:41:19 PM »
Apples and bowling balls comparing the Preakness and Derby and 1/ST and CDI.

Churchill races what, 80 to 90 days a year?

Papillon

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #5 on: May 12, 2025, 02:45:42 PM »
Hang on, are you saying that CDI-----which is publicly-traded, national, possibly international conglomerate, with racetracks, casinos, online wagering platforms, media interests, and United Tote-----still makes most of their profit on one weekend of racing? That's it?

I would say, as a guess, it is well over 50% of the profits

the other entities you mention create revenue and some profit--but Oaks/Derby weekend is the cream

100k  live attendance on Oaks Day and 150k on Derby Day--thats a ton of admission fees, parking fees, TV contract with NBC/USA networks  luxury boxes and suites...and many, many mint juleps--most of which is ... profit
« Last Edit: May 12, 2025, 02:49:33 PM by Papillon »

Scooteroo

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #6 on: May 12, 2025, 02:46:31 PM »
My point was, the profit from one or two days of racing is so much it's worth it to invest more money into upgrades. I never compared the Derby to the Preakness but thank you, your apples and bowling balls for trying.

Grandstand Handicapper

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #7 on: May 12, 2025, 02:51:06 PM »
I would say, as a guess, it is well over 50% of the profits

the other entities you mention create revenue and some profit--but Oaks/Derby weekend is the cream

100k  live attendance on Oaks Day and 150k on Derby Day--thats a ton of admission fees, parking fees, TV contract with NBC/USA networks  luxury boxes and suits...and many, many mint juleps--most of which is mostly profit

Thanks. If 50% of their profits or more come from that weekend.....I think I might look into shorting their stock! LOL.

I would have to guess they own/operate over 20 properties, and even if only a 1/4 of them are non-racetrack properties, I would have thought just the casinos alone (and I know they have several) should be their cash-cows and major line items of revenue and profit. Time to look into this, LOL.

Grandstand Handicapper

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #8 on: May 12, 2025, 02:52:34 PM »
My point was, the profit from one or two days of racing is so much it's worth it to invest more money into upgrades. I never compared the Derby to the Preakness but thank you, your apples and bowling balls for trying.

I guess the profit from the one or two days of the Preakness wasn't enough/worth it to invest. Stronach did the opposite. He "abandoned" the property.

Scooteroo

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #9 on: May 12, 2025, 02:57:47 PM »
The place is a dump that's falling apart. They're tearing it down after the Preakness and building a new modern track.

Grandstand Handicapper

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #10 on: May 12, 2025, 02:58:42 PM »
Not Stronach though.  ;)

Scooteroo

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #11 on: May 12, 2025, 03:04:10 PM »
Not Stronach though.  ;)

Eventually Stronach will end up closing every track he owns.

Papillon

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #12 on: May 12, 2025, 03:26:06 PM »
Eventually Stronach will end up closing every track he owns.

Churchill ended racing at Bay Meadows, Arlington and Calder and sold the land

1/ST is still in control of Black Eyed Susan/Preakness weekend as part of the agreement with the state of Maryland

Grandstand Handicapper

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #13 on: May 12, 2025, 03:29:01 PM »
Eventually Stronach will end up closing every track he owns.

It's her. Belinda, not Frank. She's his daughter. She owns all the racing properties and is looking like she can't get out quick enough. Unfortunate.

seen2much

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Re: Churchill was investing almost $1 billion.....into their track
« Reply #14 on: May 12, 2025, 05:15:14 PM »
I believe Churchill Downs losing money every weekend...except the first one in May.
Almost a billion for improvements seems excessive...but it's not my money.

 

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