Daily Brief
Today's Brief
2026-04-21 · By Playtime Briefing Desk
Churchill Downs Incorporated has announced a definitive agreement to acquire the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85 million, a move that will grant the company control over two of the three legs of horse racing's Triple Crown. This acquisition, set to finalize after the 2026 Preakness on May 16, underscores Churchill Downs' strategic expansion in the horse racing industry. The deal not only enhances the company's portfolio but also positions it for potential synergies with its existing operations. Further insights into the financial implications of this acquisition are expected during Churchill Downs' upcoming quarterly earnings call, which may provide additional context on the company's growth strategy.
Churchill Downs has entered into a definitive agreement to acquire the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85M, with the deal expected to close after the 2026 running of the Preakness.
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Churchill Downs set to acquire Preakness Stakes after 2026 running
Churchill Downs has entered into a definitive agreement to acquire the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85M, with the deal expected to close after the 2026 running of the Preakness.
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Churchill Downs Drops $85M to Buy Preakness Stakes IP Rights
Churchill Downs Incorporated, based in Louisville, Ky., will now control two legs of horse racing's Triple Crown.
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Churchill Downs buys intellectual property rights to Preakness Stakes
The transaction is expected to close after the running of this year's Preakness on May 16. More details may be available on Thursday when CDI has its quarterly earnings call.