Churchill Downs Stock Intrinsic Value – Churchill Downs Suspends Racing to Conduct Safety Review Following 12 Horse Deaths

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On Friday, Churchill Downs ($NASDAQ:CHDN) Incorporated, the largest thoroughbred racetrack in the US, announced that it would be suspending racing activities while conducting a safety review in response to the twelve horse fatalities reported since the start of the May racing season. The review was ordered by Churchill Downs’s board of directors, with the company releasing a statement expressing its commitment to “ensuring a safe racing environment at all of our facilities.” The review will cover “all aspects of the racing operations” including training and safety protocols, jockey and horse equipment, and track surfaces. The company has already implemented a number of changes since May, including increased veterinary oversight, enhanced safety equipment requirements, and expanded communication protocols between the track and its horse owners and trainers. The company has also increased the number of outriders in the racing field and appointed a track veterinarian to oversee aftercare for retired racehorses.

The review is expected to take several weeks and is being led by an independent panel of experts hand-selected by Churchill Downs. The panel will be comprised of veterinarians, trainers, and other industry professionals who will evaluate the safety of the track and recommend any further measures that could be taken to improve safety. Churchill Downs has stated that they are open to any and all recommendations in order to ensure the health and safety of their horses.

Stock Price

This announcement sent their stock soaring, with its opening price of $138.6 and closing price of $142.2, up by 3.4% from prior closing price of 137.5. In response to the spate of recent horse deaths, Churchill Downs has enlisted the help of an independent panel of experts in racing safety and horse health to review their practices and make recommendations on how to ensure the safety and welfare of their horses. The safety review is expected to take several weeks to complete before racing resumes.

Both tracks have come under public scrutiny for their commitment to ensuring horse safety and welfare. Churchill Downs hopes that their suspension of racing activities and independent safety review will help improve the safety and welfare of their horses, and restore public trust in their operations. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Analysis – Churchill Downs Stock Intrinsic Value

At GoodWhale, we analyze the fundamentals of companies to help investors make informed decisions. In the case of CHURCHILL DOWNS, our proprietary Valuation Line has calculated a fair value of $143.2 per share. Currently, CHURCHILL DOWNS stock is being traded at $142.2, making it a good opportunity for investors looking to purchase at a fair price. With this information, we hope investors are able to make informed decisions about their investments in CHURCHILL DOWNS. More…

Peers

It is headquartered in Louisville, Kentucky, United States. The company was founded in 1875 by Col. Meriwether Lewis Clark Jr. As of 2019, Churchill Downs Inc operates six horse racing facilities, including the world-renowned Churchill Downs Racetrack. The company also owns and operates the Kentucky Derby Museum and the Kentucky Oaks Museum. In addition to horse racing, Churchill Downs Inc also offers gaming and entertainment experiences through its subsidiaries, including Big Fish Casino, Fair Grounds Race Course & Slots, and Hawthorne Race Course.

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Summary

Churchill Downs Inc. (CHDN) experienced a positive stock movement on the day it announced the suspension of its horse racing operations while it conducted a comprehensive safety review. Investors may be encouraged by the company’s proactive approach to ensuring the safety of horses, riders, and personnel, as well as its transparent communication regarding the process. Analysts are watching to see if the review results in additional safety measures or operational changes that could affect the company’s financial performance. The horse racing industry is an important part of Churchill Downs’ business, and any changes to its operations could have a major effect on the stock price.