Churchill Downs (CHDN) to Acquire Preakness Stakes Intellectual Property for $85M [Yahoo! Finance]
Churchill Downs, Incorporated (CHDN)
Last churchill downs, incorporated earnings: 4/29 04:07 pm
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Source: Yahoo! Finance
Churchill Downs Incorporated (NASDAQ: CHDN ) is one of the best upside stocks to buy according to analysts. On April 21, Churchill Downs, or simply CDI, entered into a definitive agreement to acquire the intellectual property rights for the Preakness Stakes and the Black-Eyed Susan Stakes from 1/ST Maryland LLC. The purchase price is set at $85 million and includes all trademarks and associated rights. This transaction is expected to close following the running of the 2026 Preakness Stakes, with funding provided by CDI's cash on hand and existing credit facilities. Following the acquisition, Churchill Downs Incorporated (NASDAQ:CHDN) will enter into an exclusive license agreement with the State of Maryland. This arrangement allows the state to continue conducting these historic races in exchange for an annual fee paid to CDI. The Preakness Stakes, established in 1873, serves as the second leg of the Triple Crown, while the Black-Eyed Susan remains a premier event for three-year-old
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CHDN
Earnings
- 4/22/26 - Beat
CHDN
Sec Filings
- 4/23/26 - Form 4
- 4/23/26 - Form 4
- 4/23/26 - Form 4
- CHDN's page on the SEC website