Kentucky's Gaming Revolution: How Churchill Downs Is Pioneering A Stable Growth Pathway With Electronic HHR Table Games
Portfolio Pulse from Shivani Kumaresan
JMP Securities analyst Jordan Bender reiterated a Market Outperform rating on Churchill Downs Inc (CHDN) with a price target of $155. The company's pending $250 million acquisition, Exacta Systems, announced the first-ever electronic historical horse racing (HHR) table games through a partnership with Interblock. The analyst believes CHDN HHR revenue will drive robust growth, increasing at an attractive 46% CAGR through 2025. The addition of HHR tables could generate an incremental $300 million revenue, 10% above the analyst’s current 2025 estimate.
August 21, 2023 | 6:38 pm
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Churchill Downs Inc's pending acquisition, Exacta Systems, announced the first-ever electronic historical horse racing (HHR) table games. The addition of HHR tables could generate an incremental $300 million revenue, 10% above the analyst’s current 2025 estimate.
The news of the first-ever electronic historical horse racing (HHR) table games by Exacta Systems, a pending acquisition for Churchill Downs, is a positive development for the company. The analyst's prediction of a 46% CAGR through 2025 for CHDN HHR revenue and the potential for an additional $300 million in revenue from the addition of HHR tables indicates a positive short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100