Churchill Downs approves $750 million share buyback program

Churchill Downs Incorporated has announced that its Board of Directors approved a new $750 million share repurchase program. This new authorization replaces a previous $500 million program established in July 2025. The remaining $306 million from the prior authorization is included within the new $750 million total rather than being added to it.

The company reported third-quarter financial results including a record net revenue of $696 million, a 2% increase from the previous year. Net income rose to $80 million, compared to $38 million in the same quarter of the previous year, though the company noted this comparison was influenced by a prior impairment charge related to gaming licenses.

Additionally, the company is increasing its annual dividend by 7% to $0.469 per share. The share repurchase program has no set time limit and may be executed at management’s discretion through open market transactions or privately negotiated deals.