Churchill Downs forecasts 2026 project capital spending of $160 million-$180 million
CHDN•Churchill Downs forecast 2026 project spending of $160 million to $180 million and maintenance spending of $90 million to $100 million. It expects to announce sales of nine wholly owned regional gaming properties by year-end 2026; the properties generate estimated annual adjusted EBITDA of $280 million to $300 million.
1. Property sales planned
Churchill Downs expects to announce sales of nine wholly owned regional gaming properties by year-end 2026. The properties generate estimated annual adjusted EBITDA of $280 million to $300 million.
2. Spending and proceeds
The company forecast 2026 project capital spending of $160 million to $180 million and maintenance spending of $90 million to $100 million. Sale proceeds are expected to reduce bank covenant net leverage to 3.0 times or less, from 3.8 times at September 30, and fund selective racing investments and opportunistic share repurchases.
