Churchill Downs Management
Management criteria checks 2/4
Churchill Downs' CEO is Bill Carstanjen, appointed in Aug 2014, has a tenure of 11.92 years. total yearly compensation is $19.17M, comprised of 9.4% salary and 90.6% bonuses, including company stock and options. directly owns 2.42% of the company’s shares, worth €133.98M. The average tenure of the management team and the board of directors is 5.6 years and 11 years respectively.
Key information
Bill Carstanjen
Chief executive officer
US$19.2m
Total compensation
| CEO salary percentage | 9.39% |
| CEO tenure | 11.9yrs |
| CEO ownership | 2.4% |
| Management average tenure | 5.6yrs |
| Board average tenure | 11yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$388m |
| Dec 31 2025 | US$19m | US$2m | US$383m |
| Sep 30 2025 | n/a | n/a | US$404m |
| Jun 30 2025 | n/a | n/a | US$432m |
| Mar 31 2025 | n/a | n/a | US$422m |
| Dec 31 2024 | US$15m | US$2m | US$427m |
| Sep 30 2024 | n/a | n/a | US$415m |
| Jun 30 2024 | n/a | n/a | US$409m |
| Mar 31 2024 | n/a | n/a | US$342m |
| Dec 31 2023 | US$12m | US$2m | US$417m |
| Sep 30 2023 | n/a | n/a | US$361m |
| Jun 30 2023 | n/a | n/a | US$357m |
| Mar 31 2023 | n/a | n/a | US$553m |
| Dec 31 2022 | US$12m | US$2m | US$439m |
| Sep 30 2022 | n/a | n/a | US$482m |
| Jun 30 2022 | n/a | n/a | US$486m |
| Mar 31 2022 | n/a | n/a | US$255m |
| Dec 31 2021 | US$14m | US$2m | US$249m |
| Sep 30 2021 | n/a | n/a | US$222m |
| Jun 30 2021 | n/a | n/a | US$204m |
| Mar 31 2021 | n/a | n/a | US$72m |
| Dec 31 2020 | US$10m | US$1m | US$14m |
| Sep 30 2020 | n/a | n/a | US$2m |
| Jun 30 2020 | n/a | n/a | -US$26m |
| Mar 31 2020 | n/a | n/a | US$106m |
| Dec 31 2019 | US$11m | US$1m | US$140m |
Compensation vs Market: Bill's total compensation ($USD19.17M) is above average for companies of similar size in the German market ($USD2.74M).
Compensation vs Earnings: Bill's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
CEO
Bill Carstanjen (58 yo)
Mr. William C. Carstanjen, also known as Bill, is Chief Executive Officer and Director of Churchill Downs Incorporated from August 2014 and July 2015 respectively. He joined the Churchill Downs Incorporate...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 11.9yrs | US$19.17m | 2.42% € 134.0m | |
| President & COO | 11.9yrs | US$7.21m | 1.05% € 58.2m | |
| Executive VP & CFO | 10.8yrs | US$4.55m | 0.22% € 12.2m | |
| Executive VP | 9.3yrs | US$3.41m | 0.044% € 2.5m | |
| VP & Chief Accounting Officer | no data | no data | no data | |
| Senior VP & CTO | 4.4yrs | no data | no data | |
| Vice President of Investor Relations | 2.1yrs | no data | no data | |
| Senior Vice President of Corporate Development | 5.1yrs | no data | no data | |
| Senior VP of Human Resources | 4.1yrs | no data | no data | |
| Senior VP & President of Churchill Downs Racetrack | 5.6yrs | US$247.56k | no data | |
| Senior VP and President of TwinSpires & Online Gaming | 4.5yrs | no data | no data | |
| Senior VP & GM of Churchill Downs Racetrack | 5.6yrs | no data | no data |
Experienced Management: CHR's management team is seasoned and experienced (5.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 11yrs | US$19.17m | 2.42% € 134.0m | |
| Independent Director | 9yrs | US$342.50k | 0.014% € 794.9k | |
| Director Emeritus | no data | US$44.00k | no data | |
| Director Emeritus | no data | US$3.52m | no data | |
| Director Emeritus | 21.1yrs | no data | no data | |
| Director Emeritus | no data | US$41.59k | no data | |
| Director Emeritus | 15.1yrs | US$57.00k | no data | |
| Independent Director | 28.5yrs | US$350.00k | 0% € 0 | |
| Independent Director | 6.4yrs | US$337.50k | 0.031% € 1.7m | |
| Independent Chairman of the Board | 18.5yrs | US$465.00k | 0.068% € 3.8m | |
| Independent Director | 3.6yrs | US$332.50k | 0.0018% € 100.3k | |
| Independent Director | 8.3yrs | US$355.00k | 0.030% € 1.7m |
Experienced Board: CHR's board of directors are seasoned and experienced ( 11 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/06 16:54 |
| End of Day Share Price | 2026/07/03 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
Churchill Downs Incorporated is covered by 19 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Brandt Montour | Barclays |
| Zachary Silverberg | Berenberg |
| Shaun Kelley | BofA Global Research |