Market Chatter: Churchill Downs Accused of 'Freeloading' as Regulator Seeks $2.4 Million

MT Newswires Live

21 hours ago

Churchill Downs (CHDN) is facing enforcement action from the Horseracing Integrity and Safety Authority over its refusal to pay $2.4 million in fees, while continuing to receive safety inspections and drug testing, The New York Times reported Wednesday.

According to the report, HISA may halt out-of-state betting at Churchill Downs and three related tracks over the unpaid fees, accusing the company of "freeloading" after more than a year of talks.

The case could ultimately go before the Federal Trade Commission, which oversees HISA. Churchill Downs, the company that hosts the Kentucky Derby, is already challenging the fees in federal court, the report added.

The company did not immediately respond to MT Newswires' request for comment.

Shares of Churchill Downs were up more than 4% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 91.38, Change: +3.41, Percent Change: +3.88

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