Churchill Downs Tumbles as Tariff Angst Halts Derby Projects
The 150th running of the Kentucky Derby at Churchill Downs in Louisville, Kentucky, on May 4.
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Shares of Churchill Downs Inc. were pummeled Thursday after the gambling company said it would delay some longer-term projects at its namesake racetrack due to uncertainty around tariffs and their potential impact on construction costs.
The Louisville, Kentucky-based operator will pause multiyear projects to develop the Skye, Conservatory and Infield areas at the iconic racetrack, the company announced in a statement late Wednesday. Churchill Downs said it would assess the “evolving economic landscape” in the coming months and evaluate any changes to the timing and sequencing of the projects.