Mizuho lowered the firm’s price target on Churchill Downs (CHDN) to $134 from $137 and keeps an Outperform rating on the shares. Based on a recent ruling, Churchill must turn off its 500 historical horse racing machines in Louisiana, the analyst tells investors in a research note. The firm says that based on state filings, the slot machines generated $40M of the company’s revenue in 2024, implying $110M from historical horse racing and video poker.
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