2024-02-06 03:57:27 ET
Summary
- Churchill Downs Incorporated is an entertainment and gaming company that owns the Kentucky Derby and operates online wagering businesses and casino resorts.
- The company's revenues have been accelerating in recent years, reaching $2.4 billion in 2023, up from $1 billion a few years ago, driven by investments and expansion into new businesses.
- CHDN's stock has outperformed the market, up 732% in the last 10 years, but its valuation appears to be at a premium compared to its peers.
- Whether this premium valuation is justified or not really depends on whether you are a growth investor or value investor and what your time horizon is.
Churchill Downs Incorporated ( CHDN ) is an entertainment and gaming company that owns the Kentucky Derby as well as a variety of online wagering businesses and operates a large number of casino resorts in several states. The company has been in business for more than 150 years and its growth has been accelerating in recent years with new investments and higher demand in being seen in its online wagering business....
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Churchill Downs: Accelerating Growth Might Justify High Valuation