CHDN - Churchill Downs Incorporated Announces Repurchase of One Million Shares for $123.75 per Share | Benzinga
LOUISVILLE, Ky., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or the "Company") (NASDAQ:CHDN) announced today that the Company has agreed to repurchase 1,000,000 shares of its common stock for $123.75 per share from an affiliate of The Duchossois Group, Inc. in a privately negotiated transaction. The aggregate purchase price is $123.75 million. CDI will repurchase the shares using available cash and borrowings under its senior secured credit facility. The transaction is expected to close on January 2, 2024.
The repurchase transaction was authorized by the CDI Board of Directors and is separate from its existing share repurchase program.
About Churchill Downs Incorporated
Churchill Downs Incorporated (("CDI", NASDAQ:CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company's most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. www.churchilldownsincorporated.com
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Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that ...