Benzinga | Sep 30, 2021 08:48AM EDT

Churchill Downs Plans $500M Stock Buyback Program

* Churchill Downs Inc (NASDAQ:CHDN) Board of Directors has authorized a $500 million share repurchase program.

* The new share repurchase program replaces the prior $300 million program authorized in October 2018 that had the unused authorization of $97.9 million as of September 29, 2021.

* The company held $411.4 million in cash and equivalents as of June 30, 2021.

* Price Action: CHDN shares closed lower by 1.11% at $238.58 on Wednesday.