Shawn and Daniel break down Churchill Downs, Inc. (ticker: CHDN), a gaming company that is uniquely tied to the world of horse racing. What you’ll learn here: 00:00:00 - Intro 00:02:30 - What makes the Kentucky Derby such a cherished event and a masterclass on luxury hospitality 00:05:00 - Why Churchill Downs is so much more than just a gambling company 00:07:25 - What to make of the surge in historical racing machines that are powering the company’s growth 00:16:53 - Why Churchill Downs gave up on mobile-app-based casino gaming 00:34:56 - How the company has used its relationships and lobbying powers to protect its business and even lower its taxes 00:38:59 - The risks and moats of entrenched gambling businesses 00:41:25 - What the future of horse racing looks like 00:45:52 - Why Churchill Downs is such an asset-heavy business 00:58:09 - How to think about modeling CHDN’s intrinsic value 01:02:05 - Whether Shawn and Daniel add CHDN to their Intrinsic Value Portfolio Transcript & Host Info: https://www.theinvestorspodcast.com/intrinsic-value-podcast/churchill-downs-inc-chdn-investing-in-the-greatest-two-minutes-in-sports-w-shawn-omalley-daniel-mahncke/ 📨 Sign up for The Intrinsic Value Newsletter: https://www.theinvestorspodcast.com/subscribe-youtube/ 🤝 Connect with dedicated, savvy investors who are committed to building wealth alongside you. https://www.theinvestorspodcast.com/intrinsic-value-community/ 📈 Learn how to invest like the legends at https://theinvestorspodcast.com/getstartedwithstocks. Use the discount code “STOCKS15” at checkout. ▶️ Related Episodes: - Intrinsic Value Portfolio Review: Performance and New Positions: https://youtu.be/VcavH2tTIp4 - Manchester United's Stock: Valuing a Football Empire: https://youtu.be/iRXsjhDt2zo - Ferrari Stock: Investing in Luxury on Wheels: https://youtu.be/By9brV5KXlM Listen to our episodes here: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM Visit our website: https://www.theinvestorspodcast.com/intrinsic-value-podcast/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #StockAnalysis #GamblingStocks #ValueInvesting #BusinessBreakdown #LongTermInvesting