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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2013	Oct. 25, 2013
Document And Entity Information [Abstract]
Document Type	10-Q
false	false
Document Period End Date	Sep. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Entity Registrant Name	CHURCHILL DOWNS INC
Entity Central Index Key	0000020212
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		17,977,039

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 43,751	$ 37,177
Restricted cash	40,026	38,241
Accounts receivable, net of allowance for doubtful accounts of $1,635 at September 30, 2013 and $1,885 at December 31, 2012	40,278	47,152
Deferred income taxes	9,011	8,227
Income taxes receivable	0	2,915
Other current assets	14,497	13,352
Total current assets	147,563	147,064
Property and equipment, net	576,142	542,882
Goodwill	298,225	250,414
Other intangible assets, net	205,864	143,141
Other assets	60,019	30,836
Total assets	1,287,813	1,114,337
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	71,685	62,278
Bank overdraft	4,924	6,027
Purses payable	22,148	19,084
Accrued expenses	61,557	65,537
Current maturities of long-term debt	0	209,728
Income taxes payable	7,173	0
Deferred revenue	12,119	43,916
Total current liabilities	179,606	406,570
Long-term debt, net of current maturities	324,782	0
Other liabilities	18,220	21,030
Deferred revenue	16,329	17,794
Deferred income taxes	24,648	24,648
Total liabilities	563,585	470,042
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par value; 250 shares authorized; no shares issued	0	0
Common stock, no par value; 50,000 shares authorized; 17,977 shares issued at September 30, 2013 and 17,448 shares issued at December 31, 2012	294,037	274,709
Retained earnings	430,191	369,586
Total shareholders' equity	724,228	644,295
Total liabilities and shareholders' equity	$ 1,287,813	$ 1,114,337

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2013	Dec. 31, 2012
Allowance for doubtful accounts	$ 1,635	$ 1,885
Preferred stock, shares authorized	250	250
Common stock, shares authorized	50,000	50,000
Common stock, shares issued	17,977	17,448

Condensed Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net revenues:
Racing	$ 50,687	$ 62,919	$ 235,887	$ 253,541
Gaming	79,832	49,493	218,808	160,200
Online	48,522	45,593	143,969	142,330
Other	6,605	6,872	18,828	17,818
Net revenues	185,646	164,877	617,492	573,889
Operating expenses:
Racing	54,375	61,953	185,655	200,425
Gaming	61,086	37,891	161,698	117,122
Online	32,227	32,190	95,807	95,266
Other	6,597	6,793	18,597	19,368
Selling, general and administrative expenses	21,188	18,237	60,842	54,506
Insurance recoveries, net of losses	0	0	(375)	(6,514)
Operating income	10,173	7,813	95,268	93,716
Other income (expense):
Interest income	6	31	105	84
Interest expense	(1,407)	(873)	(4,139)	(3,078)
Equity in losses of unconsolidated investments	(887)	(471)	(1,682)	(1,255)
Miscellaneous, net	4,438	569	5,468	639
Total other income (expense)	2,150	(744)	(248)	(3,610)
Earnings from continuing operations before provision for income taxes	12,323	7,069	95,020	90,106
Income tax provision	(3,165)	(1,096)	(34,505)	(34,203)
Earnings from continuing operations	9,158	5,973	60,515	55,903
Discontinued operations, net of income taxes:
Earnings (loss) from operations	91	0	90	(1)
Net earnings and comprehensive income	$ 9,249	$ 5,973	$ 60,605	$ 55,902
Earnings Per Share, Basic [Abstract]
Net earnings (in dollars per share), Basic	$ 0.52	$ 0.34	$ 3.44	$ 3.24
Income (Loss) from Continuing Operations, Per Basic Share	0.52	0.34	3.43	3.24
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.00	0	0.01	0
Earnings Per Share, Diluted [Abstract]
Net earnings (in dollars per share), Diluted	0.52	0.34	3.39	3.20
Income (Loss) from Continuing Operations, Per Diluted Share	0.51	0.34	3.38	3.20
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	$ 0.01	$ 0	$ 0.01	$ 0
Weighted average shares outstanding:
Basic (in shares)	17,328	17,130	17,269	17,004
Diluted (in shares)	17,955	17,575	17,881	17,465

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:
Net earnings and comprehensive income	$ 60,605	$ 55,902
Adjustments to reconcile net earnings and comprehensive income to net cash provided by operating activities:
Depreciation and amortization	45,822	40,815
Gain on asset disposition	(495)	(15)
Equity in loss of unconsolidated investments	1,682	1,255
Share based compensation	15,567	6,083
Other	555	708
Increase (decrease) in cash resulting from changes in operating assets and liabilities, net of business acquisition:
Restricted cash	2,056	2,938
Accounts receivable	(8,482)	(12,500)
Other current assets	(793)	(1,895)
Accounts payable	5,812	395
Purses payable	(3,284)	(3,497)
Accrued expenses	2,202	5,732
Deferred revenue	(17,100)	(7,689)
Income taxes receivable and payable	9,305	12,149
Other assets and liabilities	921	1,728
Net cash provided by operating activities	114,373	102,109
Cash flows from investing activities:
Additions to property and equipment	(29,858)	(25,456)
Acquisition of business, net of cash	(154,872)	(6,728)
Acquisition of gaming license	(2,250)	(2,250)
Acquisition of intangible asset	(2,500)	0
Investment in joint venture	(27,000)	(6,525)
Purchases of minority investments	(625)	(2,092)
Proceeds on sale of property and equipment	4	88
Proceeds from insurance recoveries	0	10,413
Change in deposit wagering asset	(3,841)	(3,364)
Net cash used in investing activities	(220,942)	(35,914)
Cash flows from financing activities:
Borrowings on bank line of credit	641,665	291,574
Repayments on bank line of credit	(526,611)	(349,139)
Change in bank overdraft	(1,103)	(3,034)
Payment of dividends	0	(10,110)
Repurchase of common stock	(5,940)	(2,846)
Common stock issued	1,135	6,160
Windfall tax benefit from share based compensation	2,194	819
Loan Origination Fees	(2,038)	0
Change in deposit wagering liability	3,841	3,055
Net cash provided by (used in) financing activities	113,143	(63,521)
Net increase in cash and cash equivalents	6,574	2,674
Cash and cash equivalents, beginning of period	37,177	27,325
Cash and cash equivalents, end of period	43,751	29,999
Cash paid during the period for:
Interest	2,847	1,789
State tax credits	1,298	0
Income taxes	20,948	21,841
Schedule of non-cash investing and financing activities:
Issuance of common stock in connection with the Company LTIP, the New Company LTIP and other restricted stock plans	32,460	5,335
Property and equipment additions included in accrued expenses	331	0
Fair value of assets assumed	161,051	9,454
Liabilities assumed	6,179	(395)
Fair value of earn-out liability and accrued purchase price	$ 0	$ (2,331)

Basis Of Presentation	9 Months Ended
Basis Of Presentation	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	NOTE 1 — BASIS OF PRESENTATION The accompanying Condensed Consolidated Financial Statements are presented in accordance with the requirements of this Quarterly Report on Form 10-Q and consequently do not include all of the disclosures normally required by Generally Accepted Accounting Principles ("GAAP") in the United States of America or those normally made in Churchill Downs Incorporated’s (the “Company”) Annual Report on Form 10-K. The year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. Accordingly, the reader of this Quarterly Report on Form 10-Q should refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for further information. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with the Company’s customary accounting practices and have not been audited. In the opinion of management, all adjustments necessary for a fair statement of this information have been made, and all such adjustments are of a normal, recurring nature. The Company’s revenues and earnings are seasonal in nature, primarily due to its Racing Operations segment. Therefore, revenues and operating results for any interim quarter are generally not indicative of the revenues and operating results for the year and may not be comparable with results for the corresponding period of the previous year. For instance, the Company historically has had fewer live racing days during the first quarter of each year, and the majority of its live racing revenue occurs during the second quarter, with the running of the Kentucky Derby and the Kentucky Oaks. The Company conducted 104 live thoroughbred racing days during the third quarter of 2013, which compares to 112 live thoroughbred racing days during the third quarter of 2012. For the nine months ended September 30, 2013, the Company conducted 284 live thoroughbred racings days, which compares to 290 live racing days during the nine months ended September 30, 2012. Furthermore, gaming revenues and earnings have historically been higher during the first quarter due to seasonal revenues from the Company's predominately southern gaming properties. Customer Loyalty Programs The Company’s customer loyalty programs offer incentives to customers who wager at the Company’s racetracks, through its advance deposit wagering platform, TwinSpires.com, or at its gaming facilities. The TSC Elite program is for pari-mutuel wagering at the Company’s racetracks or through TwinSpires.com. The Player’s Club is offered at the Company’s gaming facilities in Louisiana, Florida, Maine and Mississippi. As of September 30, 2013 and December 31, 2012, the outstanding reward point liabilities were $2.3 million and $2.1 million, respectively, and were included in accrued expenses. Promotional Allowances Promotional allowances, which include the Company’s customer loyalty programs, primarily consist of the retail value of complimentary goods and services provided to guests at no charge. The retail value of these promotional allowances is included in gross revenue and then deducted to arrive at net revenue. During the three months ended September 30, 2013 and 2012, promotional allowances of $8.7 million and $5.2 million, respectively, were included as a reduction to arrive at net revenues. During those periods, Online Business promotional allowances were $3.4 million and $2.4 million, respectively. Gaming promotional allowances were $5.1 million and $2.5 million, respectively. Racing Operations promotional allowances were $0.2 million and $0.3 million, respectively. The estimated cost of providing promotional allowances included in operating expenses for the three months ended September 30, 2013 and 2012 totaled $2.3 million and $1.3 million, respectively. During the nine months ended September 30, 2013 and 2012, promotional allowances of $25.1 million and $14.6 million, respectively, were included as a reduction to arrive at net revenues. During those periods, Online Business promotional allowances were $9.5 million and $6.3 million, respectively. Gaming promotional allowances were $14.9 million and $7.5 million, respectively. Racing Operations promotional allowances were $0.7 million and $0.8 million, respectively. The estimated cost of providing promotional allowances included in operating expenses for the nine months ended September 30, 2013 and 2012 totaled $7.0 million and $3.7 million, respectively. Discontinued Operations The Company recognized earnings from operations of $0.1 million, net of income taxes, associated with the resolution of claims under its self-insured workers' compensation program for discontinued operations during the three and nine months ended September 30, 2013. Comprehensive Income The Company had no other components of comprehensive income and, as such, comprehensive income is the same as net earnings as presented in the accompanying Condensed Consolidated Statements of Comprehensive Income.

Acquisitions And New Ventures Acquisition And New Ventures (Notes)

9 Months Ended

Sep. 30, 2013

Acquisitions and Joint Ventures [Abstract]

Acquisitions And New Ventures

NOTE 2 — ACQUISITIONS AND NEW VENTURES

Oxford Casino Acquisition

On July 17, 2013, the Company completed its acquisition of Oxford Casino (“Oxford”) in Oxford, Maine for cash consideration of approximately $168.6 million. The transaction included the acquisition of a 25,000-square-foot casino with approximately 800 slot machines, 22 table games and various dining facilities. The acquisition continued the Company's diversification and growth strategies to invest in assets with rates of returns attractive to the Company's shareholders. The Company financed the acquisition with borrowings under its revolving credit facility.

During the period from July 17, 2013 through September 30, 2013, Oxford contributed revenues of $17.7 million and earnings from continuing operations before provision for income taxes of $4.0 million. In accordance with accounting standards, the Company expects to complete the purchase price allocation no later than one year from the acquisition date. The following table summarizes (in thousands) the preliminary fair values of the assets acquired and liabilities assumed, net of cash acquired of $13.7 million, at the date of the acquisition.



	Total
Accounts receivable	$	252
Prepaid expenses	675
Inventory	124
Property and equipment	45,105
Goodwill	47,812
Other intangible assets	67,083
Total assets acquired	161,051
Accounts payable	1,063
Accrued expenses	5,111
Other liabilities	5
Total liabilities acquired	6,179
Purchase price, net of cash acquired	$	154,872

The preliminary fair value of other intangible assets consists of the following (in thousands):



	Total
Slot gaming rights	$	60,890
Customer relationships	1,700
Tradename	2,400
Other intangibles	2,093
Total intangible assets	$	67,083

Depreciation of property and equipment acquired is calculated using the straight-line method over the estimated remaining useful lives of the related assets as follows: 2 to 5 years for computer hardware and software, 2 to 9 years for equipment, 6 years for furniture and fixtures, 40 years for buildings and 14 years for building improvements. Amortization of other intangible assets acquired is calculated using the straight-line method over the estimated useful life of the related intangible asset. Intangible assets include customer relationships valued at $1.7 million with a life of 6 years. Other intangibles include table game fees paid to the State of Maine which is amortized over the 20-year contract period. Slot gaming rights and tradename are determined to have indefinite lives and are not being amortized.

Goodwill of $47.8 million was recognized given the expected contribution of the Oxford acquisition to the Company's overall business strategy. The entire balance of goodwill has been allocated to the Gaming business segment. The Company expects to deduct goodwill for tax purposes.

Riverwalk Casino Hotel Acquisition

On October 23, 2012, the Company completed its acquisition of Riverwalk Casino Hotel ("Riverwalk") in Vicksburg, Mississippi for cash consideration of approximately $145.6 million. The transaction included the acquisition of a 25,000-square-foot casino, an 80-room hotel, a 5,600-square-foot event center and dining facilities on approximately 22 acres of land. The acquisition continued the Company's diversification and growth strategies to invest in assets with rates of returns attractive to the Company's shareholders. The Company financed the acquisition with borrowings under its revolving credit facility. The fair value of the assets acquired and liabilities assumed was included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012. In accordance with accounting standards, the Company completed its purchase price allocation during the nine months ended September 30, 2013.

For the three and nine months ended September 30, 2013, Riverwalk contributed revenues of $12.6 million and $40.9 million, respectively, and earnings from continuing operations before provision for incomes taxes of $1.6 million and $8.2 million, respectively.

Miami Valley Gaming & Racing Joint Venture

During March 2012, the Company announced an agreement to enter into a 50% joint venture with Delaware North Companies Gaming & Entertainment Inc. (“DNC”) to develop a new harness racetrack and video lottery terminal (“VLT”) gaming facility in Monroe, Ohio.

Through the joint venture agreement, the Company and DNC have formed a new company, Miami Valley Gaming & Racing LLC (“MVG”), which will manage both the Company’s and DNC’s interests in the development and operation of the racetrack and VLT gaming facility. The Company and DNC will contribute up to $222.0 million in equity contributions to MVG. On December 21, 2012, MVG completed the purchase of the harness racing licenses and certain assets held by Lebanon Trotting Club Inc. and Miami Valley Trotting Inc. for total consideration of $60.0 million, of which $10.0 million was funded at closing with the remainder funded through a $50.0 million note payable with a six year term effective upon the commencement of gaming operations. In addition, there is a potential contingent consideration payment of $10.0 million based on the financial performance of the facility during the seven year period after gaming operations commence or if a new gaming facility does not open within a 50 mile radius during the five year period from the closing date.

Construction began in December 2012 on the new gaming and racing facility in Monroe, Ohio on a 120-acre site. The new facility is expected to open in December 2013, and will include a 5/8-mile harness racing track and a 186,000-square-foot gaming facility, and approximately 1,600 VLTs, which the joint venture may increase to 1,800 VLTs, dependent on customer demand. MVG will invest approximately $212.0 million in the new facility, which includes a $50.0 million license fee payable to the Ohio Lottery Commission. During the nine months ended September 30, 2013, the Company funded $27.0 million in capital contributions to the joint venture.

Pro Forma

The following table illustrates the effect on net revenues, earnings from continuing operations and earnings from continuing operations per common share as if the Company had acquired Riverwalk and Oxford as of the beginning of 2011 and 2012, respectively. The pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that would have occurred had the acquisitions of Riverwalk and Oxford been consummated at the beginning of 2011 and 2012, respectively.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Net revenues	$	189,667	$	196,187	$	658,464	$	638,585
Earnings from continuing operations	$	13,047	$	9,949	$	64,484	$	96,686
Earnings from continuing operations per common share
Basic:
Earnings from continuing operations	$	0.54	$	0.45	$	3.66	$	3.48
Diluted:
Earnings from continuing operations	$	0.53	$	0.44	$	3.61	$	3.43
Shares used in computing earnings from continuing operations per common share:
Basic	17,328		17,130		17,269		17,004
Diluted	17,955		17,575		17,881		17,465

Natural Disasters (Notes)	9 Months Ended
Natural Disasters (Notes)	Sep. 30, 2013
Natural Disasters [Abstract]
Natural Disasters	NOTE 3 — NATURAL DISASTERS Kentucky Hailstorm On April 28, 2012, a hailstorm caused damage to portions of Louisville, Kentucky including Churchill Downs Racetrack ("Churchill Downs") and its separate training facility known as Trackside Louisville. Both locations sustained damage to their stable areas as well as damages to administrative offices and several other structures. The Company carries property and casualty insurance, subject to a $0.5 million deductible. During the year ended December 31, 2012, the Company recorded a reduction of property and equipment of $0.6 million and received $1.1 million from its insurance carriers in partial settlement of its claim. The Company is currently working with its insurance carriers to finalize its claim and during the nine months ended September 30, 2013, the Company received an additional $0.4 million and recognized insurance recoveries, net of losses of $0.4 million as a component of operating income.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2013
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 4 — INCOME TAXES The Company’s effective tax rate from continuing operations for the nine months ended September 30, 2013 and 2012 was 36% and 38%, respectively. The effective tax rate for the nine months ended September 30, 2013 was greater than the Federal statutory rate due to state income taxes, certain expenses that are not deductible for tax purposes and the impact of adjustments made during the recently concluded Internal Revenue Service ("IRS") audit of the 2009 to 2011 fiscal years. These expenses were partially offset by benefits from 2012 and 2013 research tax credits, the recognition of 2012 provision to return adjustments, and the recognition of previously uncertain tax positions. The effective tax rate for the nine months ended September 30, 2012 was greater than the Federal statutory rate due to state income taxes and certain expenses that are not deductible for tax purposes. Certain tax authorities may periodically audit the Company, and the Company may occasionally be assessed interest and penalties by tax jurisdictions. The Company recognizes accrued interest from uncertain income tax benefits in its income tax provision, while penalties are accrued in selling, general and administrative expenses. During the nine months ended September 30, 2013, the Company accrued less than $0.1 million of interest expense related to uncertain income tax benefits and had gross uncertain tax benefits of $0.4 million as of September 30, 2013. If these benefits had been recognized, there would have been a $0.3 million effect to annual income tax expense. The Company recently settled with the IRS on an uncertain tax position related to the timing of taxation of the Horse Racing Equity Trust Fund ("HRE Trust Fund") proceeds recognized by the Company in 2011. The settlement resulted in a reduction to the uncertain tax positions of $6.8 million for Federal taxes. The Company filed amended state income tax returns and paid an additional $0.6 million of uncertain tax benefits related to state income taxes on the HRE Trust Fund income. The Company anticipates a decrease in its unrecognized tax positions of approximately $0.1 million during the next twelve months. The expected reduction in the unrecognized tax positions over the next twelve months is due to the expiration of statutes of limitations. During October 2012, the Company funded a $2.9 million income tax payment to the State of Illinois related to a dispute over state income tax apportionment methodology which was recorded as an other asset. The Company filed its state income tax returns related to the years 2002 through 2005 following the methodology prescribed by Illinois statute; however, the State of Illinois has taken a contrary tax position. The Company filed a formal protest with the State of Illinois during the fourth quarter of 2012. The Company does not expect this issue to have a material adverse effect on its business, financial condition and results of operations.

Goodwill And Indefinite-Lived Intangible Assets Impairment Test

9 Months Ended

Sep. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Indefinte-Lived Intangible Assets Impairment Test

NOTE 5 — GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS IMPAIRMENT TEST

Goodwill and indefinite-lived intangible assets are tested for impairment on an annual basis as of March 31. In March 2013, the Company adopted ASU No. 2012-02, Intangibles-Goodwill and Other: Testing Indefinite-Lived Intangible Assets for Impairment. ASU 2012-02 simplifies indefinite-lived intangible asset impairment testing by adding a qualitative review step to assess whether a quantitative impairment analysis is necessary. Under the amended rule, a testing methodology similar to that which is performed for goodwill impairment testing will be acceptable for accessing a company's indefinite-lived intangible assets.

The Company completed the required annual impairment tests of goodwill and indefinite-lived intangible assets as of March 31, 2013, and no adjustment to the carrying value of goodwill or indefinite-lived intangible assets was required. The Company assessed its goodwill and indefinite-lived intangible assets by qualitatively evaluating events and circumstances that have both positive and negative factors, including macroeconomic conditions, industry events, financial performance and other changes and concluded that it was more likely than not that fair value of its reporting units was greater than their carrying value, and as such, the Company was not required to calculate the fair value of its reporting units.

During the three months ended September 30, 2013, the Company recorded goodwill of $47.8 million, definite-lived intangible assets of $3.8 million and indefinite-live intangible assets of $63.3 million, related to the Oxford acquisition.

Definite-lived and indefinite-lived intangible assets are summarized as follows:



	September 30, 2013							December 31, 2012
	Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
Definite-lived intangible assets	$	79,022	$	(36,459	)	$	42,563	$	75,229	$	(29,599	)	$	45,630
Indefinite-lived intangible assets	163,301		—			163,301		97,511		—			97,511
Total	$	242,323	$	(36,459	)	$	205,864	$	172,740	$	(29,599	)	$	143,141

Fair Value Of Assets And Liabilities

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Of Assets And Liabilities

NOTE 6 — FAIR VALUE OF ASSETS AND LIABILITIES

The Company endeavors to utilize the best available information in measuring fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The following table presents the Company’s assets and liabilities measured at fair value as of September 30, 2013 and December 31, 2012, respectively (in thousands):



	Fair Value
	Hierarchy	September 30, 2013			December 31, 2012
Cash equivalents and restricted cash	Level 1	$	40,733		$	39,033
Contingent consideration liability	Level 3	$	(2,331	)	$	(2,331	)

The Company's cash equivalents and restricted cash, some of which are held in interest-bearing accounts, qualify for Level 1 in the fair value hierarchy which includes unadjusted quoted market prices in active markets for identical assets. The Company's accrued liability for contingent consideration recorded in conjunction with the Bluff Media ("Bluff") acquisition was based on significant inputs not observed in the market and represents a Level 3 fair value measurement. The estimate for the acquisition date fair value of the contingent consideration used an income approach and was based on the probability of achieving enabling legislation which permits Internet poker gaming and the probability-weighted discounted cash flows. Any change in the fair value of the contingent consideration subsequent to the acquisition date will be recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income. The Company currently has no other assets or liabilities subject to fair value measurement on a recurring or non-recurring basis.

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

Cash Equivalents — The carrying amount reported in the balance sheet for cash equivalents approximates its fair value due to the short-term maturity of these instruments.

Debt — The carrying amounts of the Company’s borrowings under its line of credit agreement approximates fair value, based upon current interest rates and represents a Level 2 fair value measurement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Long-term Incentive Plan (Notes)	9 Months Ended
Long-term Incentive Plan (Notes)	Sep. 30, 2013
LTIP [Abstract]
Long-term Incentive Plan	NOTE 7- LONG-TERM INCENTIVE PLAN During February 2013, the Board of Directors approved the terms and conditions of performance share awards issued pursuant to the Churchill Downs Incorporated 2007 Omnibus stock incentive plan (the "New Company LTIP"). As a way to continue to encourage innovation, an entrepreneurial approach, and careful risk assessment, and in order to retain key executives, the New Company LTIP offers long-term incentive compensation to the Company's named executive officers and other key executives ("Grantees") as reported in the Company's Schedule 14A Proxy Statement filing, with the exception of our Chairman of the Board and Chief Executive Officer. On March 21, 2013, the Grantees received 75,000 restricted shares of the Company's common stock vesting over four years and 282,000 restricted shares of the Company's common stock with vesting contingent upon the Company's common stock reaching certain closing prices on NASDAQ for twenty consecutive trading days. On May 29, 2013, the Company's closing stock price achieved the twenty consecutive trading day closing stock price requirement for 70,500 restricted shares. Per the terms of the New Company LTIP, Grantees will vest in these shares on March 21, 2014. During the three months ended September 30, 2013, the Company awarded additional Grantees 42,000 shares of common stock with vesting contingent on the Company's stock price, and 17,000 shares of common stock which vests over approximately three years. During the three and nine months ended September 30, 2013, the Company recorded $4.2 million and $8.3 million, respectively, of compensation expense related to the New Company LTIP. Unrecognized compensation expense attributable to unvested market condition awards and service period awards was $10.2 million and $5.4 million, respectively, as of September 30, 2013. The weighted average period over which the Company expects to recognize the remaining compensation expense under the market condition awards and service period awards approximates 8 months and 32 months, respectively.

Earnings Per Common Share Computations

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Common Share Computations

NOTE 8 — EARNINGS PER COMMON SHARE COMPUTATIONS

The following is a reconciliation of the numerator and denominator of the earnings per common share computations (in thousands, except per share data):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Numerator for basic earnings from continuing operations per common share
Earnings from continuing operations	$	9,158		$	5,973		$	60,515		$	55,903
Earnings from continuing operations allocated to participating securities	(193		)	(78		)	(1,279		)	(729		)
Numerator for basic earnings from continuing operations per common share	$	8,965		$	5,895		$	59,236		$	55,174
Numerator for basic earnings per common share
Net earnings	$	9,249		$	5,973		$	60,605		$	55,902
Net earnings allocated to participating securities	(195		)	(78		)	(1,281		)	(729		)
Numerator for basic net earnings per common share	$	9,054		$	5,895		$	59,324		$	55,173

Numerator for diluted earnings from continuing operations per common share	$	9,158		$	5,973		$	60,515		$	55,903

Numerator for diluted earnings per common share	$	9,249		$	5,973		$	60,605		$	55,902

Denominator for net earnings per common share:
Basic	17,328			17,130			17,269			17,004
Plus dilutive effect of stock options	254			220			239			236
Plus dilutive effect of participating securities	373			225			373			225
Diluted	17,955			17,575			17,881			17,465

Net earnings per common share:
Basic
Earnings from continuing operations	$	0.52		$	0.34		$	3.43		$	3.24
Discontinued operations	—			—			$	0.01		—
Net earnings	$	0.52		$	0.34		$	3.44		$	3.24
Diluted
Earnings from continuing operations	$	0.51		$	0.34		$	3.38		$	3.20
Discontinued operations	$	0.01		—			$	0.01		—
Net earnings	$	0.52		$	0.34		$	3.39		$	3.20

Segment Information

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Information

NOTE 9 — SEGMENT INFORMATION

The Company operates in the following four segments: (1) Racing Operations, which includes Churchill Downs, Arlington International Race Course ("Arlington") and its eleven off-track betting facilities ("OTBs"), Calder Race Course ("Calder") and Fair Grounds Race Course ("Fair Grounds") and the pari-mutuel activity generated at its twelve OTBs; (2) Gaming, which includes video poker and gaming operations at Calder Casino, Fair Grounds Slots, Harlow’s Casino Resort & Spa ("Harlow's"), Riverwalk, Oxford and Video Services, LLC (“VSI”); (3) Online Business, which includes TwinSpires, our Advance Deposit Wagering (“ADW”) business, Fair Grounds Account Wagering, Bloodstock Research Information Services, Velocity, a business focused on high wagering-volume international customers and Luckity, an ADW business that offers real-money Bingo online with outcomes based on and determined by pari-mutuel wagers on live horseraces, as well as the Company's equity investment in HRTV, LLC; and (4) Other Investments, which includes United Tote, MVG, Bluff and the Company's other minor investments. Eliminations include the elimination of intersegment transactions.

In order to evaluate the performance of these operating segments internally, the Company uses Adjusted EBITDA (defined as earnings before interest, taxes, depreciation, amortization, insurance recoveries net of losses, HRE Trust Fund proceeds, share based compensation expenses, pre-opening expenses, including those of its equity investments, the impairment of assets and other charges or recoveries) as a key performance measure of our results of operations. During the nine months ended September 30, 2013, the Company implemented the Adjusted EBITDA metric because it believes the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide a more accurate measure of its core operating results and enables management and investors to evaluate and compare from period to period our operating performance in a meaningful and consistent manner. Adjusted EBITDA should not be considered as an alternative to operating income as an indicator of performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure provided in accordance with GAAP. The Company's calculation of Adjusted EBITDA may be different from the calculation used by other companies and, therefore, comparability may be limited.

The table below presents information about the reported segments for the three and nine months ended September 30, 2013 and 2012 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Net revenues from external customers:
Churchill Downs	$	7,956		$	3,873		$	118,534		$	109,297
Arlington	28,473			30,578			57,720			62,802
Calder	8,597			22,633			27,908			47,374
Fair Grounds	5,661			5,835			31,725			34,068
Total Racing Operations	50,687			62,919			235,887			253,541
Calder Casino	19,157			17,841			60,109			58,908
Fair Grounds Slots	9,781			10,109			32,123			31,726
VSI	8,443			8,089			27,449			26,466
Harlow's Casino	12,082			13,454			40,533			43,100
Oxford Casino	17,730			—			17,730			—
Riverwalk Casino	12,639			—			40,864			—
Total Gaming	79,832			49,493			218,808			160,200
Online Business	48,522			45,593			143,969			142,330
Other Investments	6,285			6,543			17,934			17,012
Corporate	320			329			894			806
Net revenues from external customers	$	185,646		$	164,877		$	617,492		$	573,889
Intercompany net revenues:
Churchill Downs	$	689		$	151		$	5,485		$	4,419
Arlington	2,070			1,758			3,110			3,810
Calder	412			554			917			1,150
Fair Grounds	22			11			855			833
Total Racing Operations	3,193			2,474			10,367			10,212
Online Business	211			233			657			669
Other Investments	938			824			3,188			2,646
Eliminations	(4,342		)	(3,531		)	(14,212		)	(13,527		)
Net revenues	$	—		$	—		$	—		$	—
Reconciliation of Adjusted EBITDA to net earnings:
Racing Operations	$	(907	)	$	2,049		$	58,353		$	58,419
Gaming	20,569			12,672			61,942			47,437
Online Business	12,998			9,917			38,424			35,351
Other Investments	316			516			1,399			243
Total segment Adjusted EBITDA	32,976			25,154			160,118			141,450
Corporate Adjusted EBITDA	(1,215		)	(905		)	(3,380		)	(3,182		)
Insurance recoveries, net of losses	—			—			375			6,514
HRE Trust Fund proceeds	4,249			—			4,541			—
Share based compensation expense	(5,990		)	(2,968		)	(15,567		)	(10,867		)
Pre-opening costs	(500		)	—			(1,211		)	—
Depreciation and amortization	(15,796		)	(13,370		)	(45,822		)	(40,815		)
Interest income (expense), net	(1,401		)	(842		)	(4,034		)	(2,994		)
Income tax provision	(3,165		)	(1,096		)	(34,505		)	(34,203		)
Earnings from continuing operations	9,158			5,973			60,515			55,903
Discontinued operations, net of income taxes	91			—			90			(1		)
Net earnings and comprehensive income	$	9,249		$	5,973		$	60,605		$	55,902

The table below presents information about equity in losses of unconsolidated investments included in the Company’s reported segments for the three and nine months ended September 30, 2013 and 2012 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Online Business	$	(393	)	$	(490	)	$	(523	)	$	(1,044	)
Other Investments	(494		)	19			(1,159		)	(211		)
	$	(887	)	$	(471	)	$	(1,682	)	$	(1,255	)

The table below presents total asset information for the reported segments (in thousands):



	September 30, 2013		December 31, 2012
Total assets:
Racing Operations	$	490,901	$	502,993
Gaming	535,225		382,054
Online Business	190,603		184,638
Other Investments	71,084		44,652
	$	1,287,813	$	1,114,337

The table below presents total capital expenditure information for the reported segments for the nine months ended September 30, 2013 and 2012 (in thousands):



	Nine Months Ended September 30,
	2013		2012
Capital expenditures:
Racing Operations	$	11,801	$	7,800
Gaming	11,528		6,846
Online Business	4,857		3,407
Other Investments	1,672		7,403
	$	29,858	$	25,456

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Commitments And Contingencies	9 Months Ended
Commitments And Contingencies	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 10 — COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company records an accrual for legal contingencies to the extent that it concludes that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Except as disclosed below, no estimate of the possible loss or range of loss in excess of amounts accrued, if any, can be made at this time regarding the matters specifically described below. The Company does not believe that the final outcome of these matters will have a material adverse impact on its business, financial condition and results of operations. Illinois Department of Revenue In October 2012, the Company filed a verified complaint for preliminary and permanent injunctive relief and for declaratory judgment (the “Complaint”) against the Illinois Department of Revenue (the “Department”). The Company's complaint was filed in response to Notices of Deficiency issued by the Department on March 18, 2010 and September 6, 2012. In response to said Notices of Deficiency, the Company, on October 4, 2012, issued a payment in protest in the amount of $2.9 million (the “Protest Payment”) under the State Officers and Employees Money Disposition Act and recorded this amount as an other asset. The Company subsequently filed its complaint in November alleging that the Department erroneously included handle, instead of the Company's commissions from handle, in the computation of the Company's sales factor (a computation of the Company's gross receipts from wagering within the State of Illinois) for determining the applicable tax owed. On October 30, 2012, the Company's Motion for Preliminary Injunctive Relief was granted, which prevents the Department from depositing any monies from the Protest Payment into the State of Illinois General Fund and from taking any further action against the Company until the Circuit Court takes final action on the Company's Complaint. If successful with its Complaint, the Company will be entitled to a full or partial refund of the Protest Payment from the Department. On October 11, 2013, depositions were taken from the plaintiffs. This matter remains pending before the Tax and Miscellaneous Remedies Section of the Circuit Court of Cook County. Kentucky Downs On September 5, 2012, Kentucky Downs Management, Inc. (“KDMI”) filed a petition for declaration of rights in Kentucky Circuit Court located in Simpson County, Kentucky styled Kentucky Downs Management Inc. v. Churchill Downs Incorporated (Civil Action No. 12-CI-330) (the “Simpson County Case”) requesting a declaration that the Company does not have the right to exercise its put right and require Kentucky Downs, LLC (“Kentucky Downs”) and/or Kentucky Downs Partners, LLC (“KDP”) to purchase the Company's ownership interest in Kentucky Downs. On September 18, 2012, the Company filed a complaint in Kentucky Circuit Court located in Jefferson County, Kentucky, styled Churchill Downs Incorporated v. Kentucky Downs, LLC; Kentucky Downs Partners, LLC; and Kentucky Downs Management Inc. (Civil Action No. 12-CI-04989) (the “Jefferson County Case”) claiming that Kentucky Downs and KDP had breached the operating agreement for Kentucky Downs and requesting a declaration that the Company had validly exercised its put right and a judgment compelling Kentucky Downs and/or KDP to purchase the Company's ownership interest in Kentucky Downs pursuant to the terms of the applicable operating agreement. On October 9, 2012, the Company filed a motion to dismiss the Simpson County Case and Kentucky Downs, KDP and KDMI filed a motion to dismiss the Jefferson County Case. A hearing for the motion to dismiss in the Simpson County Case occurred November 30, 2012. At that hearing the Company's motion to dismiss the Simpson County Case was denied. Subsequently, Kentucky Downs, KDMI and KDP's motion to dismiss the Jefferson County Case was granted on January 23, 2013, due to the Simpson County Circuit Court's assertion of jurisdiction over the dispute. On May 16, 2013, Kentucky Downs, KDP and KDMI filed a Motion for Summary Judgment against the Company and Turfway Park, LLC. On September 19, 2013, the Company filed its response to the Motion for Summary Judgment. A hearing occurred before the Simpson County Circuit Court on September 23, 2013 on the Kentucky Downs, KDP and KDMI Motion for Summary Judgment. All parties appeared before the Simpson County Court and oral arguments were heard. The parties are now awaiting a ruling from the Simpson County Circuit Court. Texas Pari-Mutuel Wagering On September 21, 2012, the Company filed a lawsuit in the United States District Court for the Western District of Texas styled Churchill Downs Incorporated; Churchill Downs Technology Initiatives Company d/b/a TwinSpires.com v. Chuck Trout, in his official capacity as Executive Director of the Texas Racing Commission; Gary P. Aber, Susan Combs, Ronald F. Ederer, Gloria Hicks, Michael F. Martin, Allan Polunsky, Robert Schmidt, John T. Steen III, Vicki Smith Weinberg, in their official capacity as members of the Texas Racing Commission (Case No. 1:12-cv-00880-LY) challenging the constitutionality of a Texas law requiring residents of Texas that desire to wager on horseraces to wager in person at a Texas race track. In addition to its complaint, on September 21, 2012, the Company filed a motion for preliminary injunction seeking to enjoin the state from taking any action to enforce the law in question. In response, on October 9, 2012, counsel for the state assured both the Company and the court that the state would not enforce the law in question against the Company without prior notice, at which time the court could then consider the motion for preliminary injunction. On April 15, 2013, both parties filed their opening briefs, and a trial was held on May 2, 2013. On September 23, 2013, the United States District Court for the Western District of Texas ruled against the Company and upheld the Texas law at issue. Subsequently, on September 25, 2013, the Company ceased taking wagers from Texas residents via TwinSpires.com. The Company filed a motion for an expedited hearing in the United States Court of Appeals, which was granted on October 17, 2013. Balmoral, Maywood and Illinois Harness Horsemen’s Association On February 14, 2011, Balmoral Racing Club, Inc., Maywood Park Trotting Association, Inc. and the Illinois Harness Horsemen’s Association, Inc. filed a lawsuit styled Balmoral Racing Club, Inc., Maywood Park Trotting Association, Inc. and the Illinois Harness Horsemen’s Association Inc. vs. Churchill Downs Incorporated, Churchill Downs Technology Initiatives Company d/b/a TwinSpires.com and Youbet.com, LLC (Case No. 11-CV-D1028) in the United States District Court for the Northern District of Illinois, Eastern Division. The plaintiffs allege that Youbet.com breached a co-branding agreement dated December 2007, as amended on December 21, 2007 and September 26, 2008 (the “Agreement”), which was entered into between certain Illinois racetracks and a predecessor of Youbet.com. The plaintiffs allege that the defendants breached the agreement by virtue of an unauthorized assignment of the Agreement to TwinSpires.com and further allege that Youbet.com and TwinSpires have misappropriated trade secrets in violation of the Illinois Trade Secrets Act. Finally, the plaintiffs allege that the Company and TwinSpires.com tortiously interfered with the Agreement by causing Youbet.com to breach the Agreement. The plaintiffs have alleged damages of at least $3.6 million, or alternatively, of at least $0.8 million. On April 1, 2011, the plaintiffs filed a motion for a preliminary injunction, seeking an order compelling the defendants to turn over all Illinois customer accounts and prohibiting TwinSpires.com from using that list of Illinois customer accounts. On April 18, 2011, the defendants filed an answer and a motion to dismiss certain counts of the plaintiffs’ complaint, and Youbet.com asserted a counterclaim seeking certain declaratory relief relating to allegations that plaintiffs Maywood and Balmoral breached the Agreement in 2010, leading to its proper termination by Youbet.com on December 1, 2010. The preliminary injunction hearing took place on July 6, 2011, and on July 21, 2011, the court denied the preliminary injunction. On March 9, 2012, the parties mediated the case without resolution. The parties filed motions for summary judgment in November and December 2012, respectively, and replies were filed in January 2013. During June 2013, the Court denied both parties' motions for summary judgment, and a trial date has not yet been set. The parties are continuing to seek a resolution to their claims, and the Company expects to resolve this matter during 2013. There are no other material pending legal proceedings.

Amendment of Revolving Credit Facility Amendment of Revolving Credit Facility	9 Months Ended
	Sep. 30, 2013
Amended Credit Facility [Abstract]
Amendment of Revolving Credit Facility	NOTE 11 — AMENDMENT OF REVOLVING CREDIT FACILITY On May 17, 2013, the Company entered into the Third Amended and Restated Credit Agreement (the “Amended Credit Facility”) which amended certain provisions of the credit agreement including increasing the maximum aggregate commitment from $375 million to $500 million. The Amended Credit Facility also provides for an accordion feature which, if exercised, could increase the maximum aggregate commitment by up to an additional $225 million and reduce the pricing schedule for outstanding borrowings and commitment fees across all leverage pricing levels. The guarantors under the Amended Credit Facility continue to be a majority of the Company's wholly-owned subsidiaries. The Company incurred loan origination costs of $2.0 million in connection with this amendment, which were capitalized and are being amortized as interest expense over the remaining term of the Amended Credit Facility. The Amended Credit Facility matures on May 17, 2018. Generally, borrowings made pursuant to the Amended Credit Facility bear interest at a LIBOR-based rate per annum plus an applicable percentage ranging from 1.125% to 3.0% depending on the Company's total leverage ratio. In addition, under the Amended Credit Facility, the Company agreed to pay a commitment fee at rates that range from 0.175% to 0.45% of the available aggregate commitment, depending on the Company's leverage ratio. The Amended Credit Facility contains customary affirmative and negative covenants for credit facilities of this type, including limitations on the Company and its subsidiaries with respect to indebtedness, restricted payments, liens, investments, mergers and acquisitions, disposition of assets, sale-leaseback transactions and transactions with affiliates. The covenants permit the Company to use proceeds of the credit extended under the agreement for general corporate purposes, restricted payments and acquisition needs. The Amended Credit Facility also contains financial covenants that require the Company (i) to maintain an interest coverage ratio (i.e., consolidated adjusted EBITDA to consolidated interest expense) that is greater than 3.0 to 1.0; (ii) not to permit the total leverage ratio (i.e., total consolidated funded indebtedness to consolidated adjusted EBITDA) to be greater than 4.5 to 1.0, provided that if a certain minimum consolidated adjusted EBITDA is reached then the total leverage ratio will be increased to 5.0 to 1.0 for such periods that the minimum is maintained; and (iii) not to permit the senior secured leverage ratio (i.e. senior secured consolidated funded indebtedness to consolidated adjusted EBITDA) to be greater than 3.5 to 1.0. As of September 30, 2013, the Company was in compliance with all covenants under the Amended Credit Facility, and substantially all of the Company's assets continue to be pledged as collateral under the Amended Credit Facility.

Stock Repurchase Program (Notes)	9 Months Ended
Stock Repurchase Program (Notes)	Sep. 30, 2013
Stock Repurchase Program [Abstract]
Repurchase and Resale Agreements Policy [Policy Text Block]	NOTE 12 — STOCK REPURCHASE PROGRAM On April 23, 2013, the Company's Board of Directors authorized the repurchase of up to $100 million of the Company's stock in a stock repurchase program. The Company may repurchase stock in open market purchases or through privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements and other relevant factors. The Company expects to fund repurchases using available cash and borrowings under the Company's Amended Credit Facility. The Company is not obligated to purchase any stock under the stock repurchase program, and purchases may be discontinued, or the stock repurchase program may be modified or suspended at any time prior to the termination of the repurchase program on December 31, 2015. During the nine months ended September 30, 2013, the Company did not repurchase any shares of stock under this program.

HRE Trust Fund Proceeds (Notes)	9 Months Ended
HRE Trust Fund Proceeds (Notes)	Sep. 30, 2013
HRE Trust Fund Proceeds [Line Items]
HRE Trust Fund Proceeds [Table Text Block]	NOTE 13 — HRE TRUST FUND PROCEEDS Under legislation enacted in 1999, the HRE Trust Fund was scheduled to receive amounts equal to 15% of the adjusted gross receipts generated by a tenth riverboat casino license to be granted in Illinois. The funds were to be distributed to racetracks in Illinois for purses as well as racetrack discretionary spending. During December 2008, the Illinois Gaming Board awarded the tenth riverboat license to a casino in Des Plaines, Illinois. This casino opened during July 2011, entitling the Illinois racing industry to receive an amount equal to 15% of the adjusted gross receipts of this casino from the gaming taxes generated by that casino, once the accumulated funds were appropriated by the state. On July 10, 2013, the Governor of Illinois signed Illinois House Bill 214 into law, providing for the release of $23.0 million of funds collected from the tenth riverboat licensee since its opening during 2011. During July 2013, Arlington received $7.9 million as its share of the proceeds, of which $3.6 million was designated for Arlington purses. The remaining $4.2 million was recognized as miscellaneous other income during the three months ending September 30, 2013. No additional proceeds related to future funds of the tenth riverboat are expected to be distributed to Illinois racetracks under the provisions of House Bill 214.

Basis Of Presentation (Policies)	9 Months Ended
Basis Of Presentation (Policies)	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue Recognition	The Company’s revenues and earnings are seasonal in nature, primarily due to its Racing Operations segment. Therefore, revenues and operating results for any interim quarter are generally not indicative of the revenues and operating results for the year and may not be comparable with results for the corresponding period of the previous year. For instance, the Company historically has had fewer live racing days during the first quarter of each year, and the majority of its live racing revenue occurs during the second quarter, with the running of the Kentucky Derby and the Kentucky Oaks. The Company conducted 104 live thoroughbred racing days during the third quarter of 2013, which compares to 112 live thoroughbred racing days during the third quarter of 2012. For the nine months ended September 30, 2013, the Company conducted 284 live thoroughbred racings days, which compares to 290 live racing days during the nine months ended September 30, 2012. Furthermore, gaming revenues and earnings have historically been higher during the first quarter due to seasonal revenues from the Company's predominately southern gaming properties.
Customer Loyalty Programs	The Company’s customer loyalty programs offer incentives to customers who wager at the Company’s racetracks, through its advance deposit wagering platform, TwinSpires.com, or at its gaming facilities. The TSC Elite program is for pari-mutuel wagering at the Company’s racetracks or through TwinSpires.com. The Player’s Club is offered at the Company’s gaming facilities in Louisiana, Florida, Maine and Mississippi. As of September 30, 2013 and December 31, 2012, the outstanding reward point liabilities were $2.3 million and $2.1 million, respectively, and were included in accrued expenses.
Promotional Allowances	Promotional allowances, which include the Company’s customer loyalty programs, primarily consist of the retail value of complimentary goods and services provided to guests at no charge. The retail value of these promotional allowances is included in gross revenue and then deducted to arrive at net revenue. During the three months ended September 30, 2013 and 2012, promotional allowances of $8.7 million and $5.2 million, respectively, were included as a reduction to arrive at net revenues. During those periods, Online Business promotional allowances were $3.4 million and $2.4 million, respectively. Gaming promotional allowances were $5.1 million and $2.5 million, respectively. Racing Operations promotional allowances were $0.2 million and $0.3 million, respectively. The estimated cost of providing promotional allowances included in operating expenses for the three months ended September 30, 2013 and 2012 totaled $2.3 million and $1.3 million, respectively. During the nine months ended September 30, 2013 and 2012, promotional allowances of $25.1 million and $14.6 million, respectively, were included as a reduction to arrive at net revenues. During those periods, Online Business promotional allowances were $9.5 million and $6.3 million, respectively. Gaming promotional allowances were $14.9 million and $7.5 million, respectively. Racing Operations promotional allowances were $0.7 million and $0.8 million, respectively. The estimated cost of providing promotional allowances included in operating expenses for the nine months ended September 30, 2013 and 2012 totaled $7.0 million and $3.7 million, respectively.
Comprehensive Income	The Company had no other components of comprehensive income and, as such, comprehensive income is the same as net earnings as presented in the accompanying Condensed Consolidated Statements of Comprehensive Income.

- Definition

Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.

+ References + Details

Acquisitions And New Ventures Acquisition and New Ventures (Tables)

9 Months Ended

Sep. 30, 2013

Acquisitions and New Ventures [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]



	Total
Accounts receivable	$	252
Prepaid expenses	675
Inventory	124
Property and equipment	45,105
Goodwill	47,812
Other intangible assets	67,083
Total assets acquired	161,051
Accounts payable	1,063
Accrued expenses	5,111
Other liabilities	5
Total liabilities acquired	6,179
Purchase price, net of cash acquired	$	154,872

Business Acquisition, Pro Forma Information [Table Text Block]

The pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that would have occurred had the acquisitions of Riverwalk and Oxford been consummated at the beginning of 2011 and 2012, respectively.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Net revenues	$	189,667	$	196,187	$	658,464	$	638,585
Earnings from continuing operations	$	13,047	$	9,949	$	64,484	$	96,686
Earnings from continuing operations per common share
Basic:
Earnings from continuing operations	$	0.54	$	0.45	$	3.66	$	3.48
Diluted:
Earnings from continuing operations	$	0.53	$	0.44	$	3.61	$	3.43
Shares used in computing earnings from continuing operations per common share:
Basic	17,328		17,130		17,269		17,004
Diluted	17,955		17,575		17,881		17,465

Goodwill And Indefinite-Lived Intangible Assets Impairment Test (Tables)

9 Months Ended

Sep. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite and Finite Lived Assets



	September 30, 2013							December 31, 2012
	Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
Definite-lived intangible assets	$	79,022	$	(36,459	)	$	42,563	$	75,229	$	(29,599	)	$	45,630
Indefinite-lived intangible assets	163,301		—			163,301		97,511		—			97,511
Total	$	242,323	$	(36,459	)	$	205,864	$	172,740	$	(29,599	)	$	143,141

Fair Value Of Assets And Liabilities (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The following table presents the Company’s assets and liabilities measured at fair value as of September 30, 2013 and December 31, 2012, respectively (in thousands):



	Fair Value
	Hierarchy	September 30, 2013			December 31, 2012
Cash equivalents and restricted cash	Level 1	$	40,733		$	39,033
Contingent consideration liability	Level 3	$	(2,331	)	$	(2,331	)

Earnings Per Common Share Computations (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following is a reconciliation of the numerator and denominator of the earnings per common share computations (in thousands, except per share data):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Numerator for basic earnings from continuing operations per common share
Earnings from continuing operations	$	9,158		$	5,973		$	60,515		$	55,903
Earnings from continuing operations allocated to participating securities	(193		)	(78		)	(1,279		)	(729		)
Numerator for basic earnings from continuing operations per common share	$	8,965		$	5,895		$	59,236		$	55,174
Numerator for basic earnings per common share
Net earnings	$	9,249		$	5,973		$	60,605		$	55,902
Net earnings allocated to participating securities	(195		)	(78		)	(1,281		)	(729		)
Numerator for basic net earnings per common share	$	9,054		$	5,895		$	59,324		$	55,173

Numerator for diluted earnings from continuing operations per common share	$	9,158		$	5,973		$	60,515		$	55,903

Numerator for diluted earnings per common share	$	9,249		$	5,973		$	60,605		$	55,902

Denominator for net earnings per common share:
Basic	17,328			17,130			17,269			17,004
Plus dilutive effect of stock options	254			220			239			236
Plus dilutive effect of participating securities	373			225			373			225
Diluted	17,955			17,575			17,881			17,465

Net earnings per common share:
Basic
Earnings from continuing operations	$	0.52		$	0.34		$	3.43		$	3.24
Discontinued operations	—			—			$	0.01		—
Net earnings	$	0.52		$	0.34		$	3.44		$	3.24
Diluted
Earnings from continuing operations	$	0.51		$	0.34		$	3.38		$	3.20
Discontinued operations	$	0.01		—			$	0.01		—
Net earnings	$	0.52		$	0.34		$	3.39		$	3.20

Segment Information (Tables)

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Reconciliation of Assets from Segment to Consolidated



	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Online Business	$	(393	)	$	(490	)	$	(523	)	$	(1,044	)
Other Investments	(494		)	19			(1,159		)	(211		)
	$	(887	)	$	(471	)	$	(1,682	)	$	(1,255	)

The table below presents total capital expenditure information for the reported segments for the nine months ended September 30, 2013 and 2012 (in thousands):



	Nine Months Ended September 30,
	2013		2012
Capital expenditures:
Racing Operations	$	11,801	$	7,800
Gaming	11,528		6,846
Online Business	4,857		3,407
Other Investments	1,672		7,403
	$	29,858	$	25,456

The table below presents total asset information for the reported segments (in thousands):



	September 30, 2013		December 31, 2012
Total assets:
Racing Operations	$	490,901	$	502,993
Gaming	535,225		382,054
Online Business	190,603		184,638
Other Investments	71,084		44,652
	$	1,287,813	$	1,114,337

Schedule of Segment Reporting Information, by Segment

The table below presents information about the reported segments for the three and nine months ended September 30, 2013 and 2012 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Net revenues from external customers:
Churchill Downs	$	7,956		$	3,873		$	118,534		$	109,297
Arlington	28,473			30,578			57,720			62,802
Calder	8,597			22,633			27,908			47,374
Fair Grounds	5,661			5,835			31,725			34,068
Total Racing Operations	50,687			62,919			235,887			253,541
Calder Casino	19,157			17,841			60,109			58,908
Fair Grounds Slots	9,781			10,109			32,123			31,726
VSI	8,443			8,089			27,449			26,466
Harlow's Casino	12,082			13,454			40,533			43,100
Oxford Casino	17,730			—			17,730			—
Riverwalk Casino	12,639			—			40,864			—
Total Gaming	79,832			49,493			218,808			160,200
Online Business	48,522			45,593			143,969			142,330
Other Investments	6,285			6,543			17,934			17,012
Corporate	320			329			894			806
Net revenues from external customers	$	185,646		$	164,877		$	617,492		$	573,889
Intercompany net revenues:
Churchill Downs	$	689		$	151		$	5,485		$	4,419
Arlington	2,070			1,758			3,110			3,810
Calder	412			554			917			1,150
Fair Grounds	22			11			855			833
Total Racing Operations	3,193			2,474			10,367			10,212
Online Business	211			233			657			669
Other Investments	938			824			3,188			2,646
Eliminations	(4,342		)	(3,531		)	(14,212		)	(13,527		)
Net revenues	$	—		$	—		$	—		$	—
Reconciliation of Adjusted EBITDA to net earnings:
Racing Operations	$	(907	)	$	2,049		$	58,353		$	58,419
Gaming	20,569			12,672			61,942			47,437
Online Business	12,998			9,917			38,424			35,351
Other Investments	316			516			1,399			243
Total segment Adjusted EBITDA	32,976			25,154			160,118			141,450
Corporate Adjusted EBITDA	(1,215		)	(905		)	(3,380		)	(3,182		)
Insurance recoveries, net of losses	—			—			375			6,514
HRE Trust Fund proceeds	4,249			—			4,541			—
Share based compensation expense	(5,990		)	(2,968		)	(15,567		)	(10,867		)
Pre-opening costs	(500		)	—			(1,211		)	—
Depreciation and amortization	(15,796		)	(13,370		)	(45,822		)	(40,815		)
Interest income (expense), net	(1,401		)	(842		)	(4,034		)	(2,994		)
Income tax provision	(3,165		)	(1,096		)	(34,505		)	(34,203		)
Earnings from continuing operations	9,158			5,973			60,515			55,903
Discontinued operations, net of income taxes	91			—			90			(1		)
Net earnings and comprehensive income	$	9,249		$	5,973		$	60,605		$	55,902

Basis Of Presentation (Details) - USD ($)	3 Months Ended		9 Months Ended
Basis Of Presentation (Details) - USD ($)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Promotional Allowance [Line Items]
Promotional Allowances	$ 8,700,000	$ 5,200,000	$ 25,100,000	$ 14,600,000
Estimated Cost Of Providing Promotional Allowances	2,300,000	1,300,000	7,000,000	3,700,000
Customer Loyalty Program Liability, Current	2,300,000		2,300,000		$ 2,100,000
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	100,000	100,000
Racing Operations
Promotional Allowance [Line Items]
Promotional Allowances	200,000	300,000	700,000	800,000
Online Operations
Promotional Allowance [Line Items]
Promotional Allowances	3,400,000	2,400,000	9,500,000	6,300,000
Gaming Operations
Promotional Allowance [Line Items]
Promotional Allowances	$ 5,100,000	$ 2,500,000	$ 14,900,000	$ 7,500,000

Acquisitions And New Ventures Acquisitions And New Ventures (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2012 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Dec. 31, 2012 USD ($) a ft² terminal mi	Jul. 17, 2013 USD ($) ft² SlotMachines Tables	Dec. 21, 2012 USD ($) mi	Oct. 23, 2012 USD ($) a ft² hotel_rooms
Schedule of Equity Method Investments [Line Items]
Revenues		$ 0	$ 0	$ 0	$ 0
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest		12,323	$ 7,069	95,020	90,106
Payments to Acquire Interest in Joint Venture				27,000	$ 6,525
Miami Valley Gaming and Racing [Member]
Schedule of Equity Method Investments [Line Items]
Square footage of Casino \| ft²						186,000
Race Track, Length \| mi						0.625
Acres \| a						120
Maximum Amount Of Contributions Needed To Fund Asset Purchase For Existing Racing Licenses And Racetrack Assets, License Fees and Acquisition Costs For Land						$ 222,000
Contingent condiseration payment term	P5Y
Equity Method Investments, Facility Cost						$ 212,000
Notes Payable, Other Payables [Member] \| Miami Valley Gaming and Racing [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments								$ 50,000
Distance to nearest gaming facility \| mi								50
Minimum \| Miami Valley Gaming and Racing [Member]
Schedule of Equity Method Investments [Line Items]
Number of Lottery Terminals \| terminal						1,600
Maximum \| Miami Valley Gaming and Racing [Member]
Schedule of Equity Method Investments [Line Items]
Number of Lottery Terminals \| terminal						1,800
Oxford Acquisition [Member]
Schedule of Equity Method Investments [Line Items]
Purchase price, net of cash acquired							$ 154,872
Future Business Acquisition, Cost Of Acquired Entity, Purchase Price							$ 168,600
Square footage of Casino \| ft²							25,000
Revenues		17,700
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest		4,000
Number Slot Machines \| SlotMachines							800
Number of tables games \| Tables							22
Cash Acquired from Acquisition							$ 13,700
Riverwalk Acquisition [Member]
Schedule of Equity Method Investments [Line Items]
Purchase price, net of cash acquired									$ 145,600
Square footage of Casino \| ft²									25,000
Square Footage of Event Center \| ft²									5,600
Acres \| a									22
Number of Hotel rooms \| hotel_rooms									80
Revenues		12,600		40,900
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest		$ 1,600		8,200
Ohio Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Future Business Acquisition, Cost Of Acquired Entity, Purchase Price	$ 60,000
Business acquisition, cash that was paid at close	$ 10,000
Ownership In Joint Venture	50.00%
Future Business Acquisition, Cost of Acquired Entity, Cash That Will Be Paid	$ 10,000
Payments to Acquire Interest in Joint Venture				$ 27,000
License Fee Payable [Member] \| Miami Valley Gaming and Racing [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments, Facility Cost						$ 50,000

Acquisitions And New Ventures Pro Forma Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Business Acquisition [Line Items]
Net revenues	$ 189,667	$ 196,187	$ 658,464	$ 638,585
Earnings from continuing operations	$ 13,047	$ 9,949	$ 64,484	$ 96,686
Earnings from continuing operations, Basic	$ 0.54	$ 0.45	$ 3.66	$ 3.48
Earnings from continuing operations, Diluted	$ 0.53	$ 0.44	$ 3.61	$ 3.43
Basic	17,328	17,130	17,269	17,004
Diluted	17,955	17,575	17,881	17,465

Acquisitions And New Ventures Identifiable Assets Acquired and Liabilities Assumed (Details) - Oxford Acquisition [Member] - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2013	Jul. 17, 2013
Business Acquisition [Line Items]
Accounts receivable		$ 252
Prepaid expenses		675
Inventory		124
Property and equipment		45,105
Goodwill		47,812
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		67,083
Total assets acquired		161,051
Accounts payable		1,063
Accrued expenses		5,111
Other liabilities		5
Total liabilities acquired		6,179
Purchase price, net of cash acquired		154,872
Trade Names [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		60,890
Contractual Rights [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		2,400
Customer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		1,700
Finite-Lived Intangible Asset, Useful Life	6 years
Other Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 2,093
Finite-Lived Intangible Asset, Useful Life	20 years
Furniture and Fixtures [Member]
Business Acquisition [Line Items]
Property, Plant and Equipment, Useful Life	6 years
Building [Member]
Business Acquisition [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Building Improvements [Member]
Business Acquisition [Line Items]
Property, Plant and Equipment, Useful Life	14 years
Minimum [Member] \| Computer Equipment [Member]
Business Acquisition [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Minimum [Member] \| Equipment [Member]
Business Acquisition [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Maximum [Member] \| Computer Equipment [Member]
Business Acquisition [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member] \| Equipment [Member]
Business Acquisition [Line Items]
Property, Plant and Equipment, Useful Life	9 years

Natural Disasters (Details) - Churchill Downs - Hail [Member] - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Business Interruption Loss [Line Items]
Insurance Deductible		$ 0.5
Insurance Settlements, Partial Settlement Received		0.6
Insurance Settlements, Cash Settlement Received	$ 0.4	$ 1.1
Scenario, Forecast [Member]
Business Interruption Loss [Line Items]
Unusual or Infrequent Item, Net of Insurance Proceeds	$ 0.4

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2013	Sep. 30, 2012	Oct. 04, 2012
Income Tax Contingency [Line Items]
Effective Income Tax Rate, Continuing Operations	36.00%	38.00%
Other Assets			$ 2.9
Accrued interest epense related to unrecognized income tax benefits	$ 0.1
Gross unrecognized tax benefits	0.4
Total amount of unrecognized tax benefits, if recognized, would affect the effective tax rate	0.3
Reduction in Unrecognized Tax Benefits Related to HRE Trust Fund	6.8
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	0.1
HRE Trust Fund [Member]
Income Tax Contingency [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.6

Goodwill And Indefinite-Lived Intangible Assets Impairment Test - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2013	Jul. 17, 2013	Dec. 31, 2012
Goodwill [Line Items]
Definite-lived intangible assets, gross carrying amount	$ 79,022		$ 75,229
Definite-lived intangible assets, accumulated amortization	(36,459)		(29,599)
Intangible Assets, Net (Excluding Goodwill)	205,864		143,141
Definite-lived intangible assets, net book value	42,563		45,630
Indefinite-lived intangible assets, gross carrying value	163,301		97,511
Intangible Assets Excluding Goodwill, Gross	$ 242,323		$ 172,740
Oxford Acquisition [Member]
Goodwill [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		$ 3,793
Goodwill		47,812
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		$ 63,300

Fair Value Of Assets And Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2013	Dec. 31, 2012
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash	$ 40,733	$ 39,033
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	$ (2,331)	$ (2,331)

Long-term Incentive Plan (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
Long-term Incentive Plan (Details) - USD ($) $ in Thousands	Mar. 22, 2013	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	May 29, 2013	Mar. 21, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized							70,500	75,000
Stock Issued During Period, Shares, Restricted Stock Award, Gross	282,000	42,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized		17,000
Trading Days			20 days
Allocated Share-based Compensation Expense		$ 5,990		$ 2,968	$ 15,567	$ 10,867
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options		10,200			10,200
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized		5,400			5,400
Omnibus Stock Incentive Plans, 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense		$ 4,200			$ 8,300
Common Stock [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plan					8 months
Common Stock [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plan					32 months

Earnings Per Common Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]
Earnings from continuing operations	$ 9,158	$ 5,973	$ 60,515	$ 55,903
Participating Securities, Distributed and Undistributed Earnings	(193)	(78)	(1,279)	(729)
Numerator for basic earnings from continuing operations per common share	8,965	5,895	59,236	55,174
Net earnings	9,249	5,973	60,605	55,902
Net earnings allocated to participating securities	(195)	(78)	(1,281)	(729)
Numerator for basic net earnings per common share	9,054	5,895	59,324	55,173
Income Loss From Continuing Operations, Diluted	9,158	5,973	60,515	55,903
Net Income (Loss) Available to Common Stockholders, Diluted	$ 9,249	$ 5,973	$ 60,605	$ 55,902
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in shares)	17,328	17,130	17,269	17,004
Plus dilutive effect of stock options (in shares)	254	220	239	236
Plus dilutive effect of participating securities (in shares)	373	225	373	225
Diluted (in shares)	17,955	17,575	17,881	17,465
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.52	$ 0.34	$ 3.43	$ 3.24
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.00	0	0.01	0
Net earnings (in dollars per share), Basic	0.52	0.34	3.44	3.24
Net earnings (in dollars per share), Diluted	0.52	0.34	3.39	3.20
Income (Loss) from Continuing Operations, Per Diluted Share	0.51	0.34	3.38	3.20
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	$ 0.01	$ 0	$ 0.01	$ 0

Segment Information - Information About Reported Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013 USD ($) Off_Track_Betting_Palors Segments	Sep. 30, 2012 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments \| Segments	4
Net revenues from external customers	$ 185,646	$ 164,877	$ 617,492	$ 573,889
Intercompany net revenues	0	0	0	0
Adjusted Segment EBITDA	32,976	25,154	160,118	141,450
Adjusted Corporate EBITDA	(1,215)	(905)	(3,380)	(3,182)
Insurance Recoveries, Net of Losses	0	0	375	6,514
HRE Trust Fund Proceeds	4,249	0	4,541	0
Allocated Share-based Compensation Expense	(5,990)	(2,968)	(15,567)	(10,867)
Pre-Opening Costs	(500)	0	(1,211)	0
Depreciation and Amortization	(15,796)	(13,370)	(45,822)	(40,815)
Interest Income (Expense), Net	(1,401)	(842)	(4,034)	(2,994)
Income tax provision	(3,165)	(1,096)	(34,505)	(34,203)
Earnings from continuing operations	9,158	5,973	60,515	55,903
Discontinued operations, net of income taxes	91	0	90	(1)
Net earnings and comprehensive income	$ 9,249	5,973	60,605	55,902
Arlington Park
Segment Reporting Information [Line Items]
Number Of Off Track Betting Palors \| Off_Track_Betting_Palors	11
Fair Grounds
Segment Reporting Information [Line Items]
Number Of Off Track Betting Palors \| Off_Track_Betting_Palors	12
Racing Operations
Segment Reporting Information [Line Items]
Net revenues from external customers	$ 50,687	62,919	235,887	253,541
Intercompany net revenues	3,193	2,474	10,367	10,212
Adjusted Segment EBITDA	(907)	2,049	58,353	58,419
Racing Operations \| Churchill Downs
Segment Reporting Information [Line Items]
Net revenues from external customers	7,956	3,873	118,534	109,297
Intercompany net revenues	689	151	5,485	4,419
Racing Operations \| Arlington Park
Segment Reporting Information [Line Items]
Net revenues from external customers	28,473	30,578	57,720	62,802
Intercompany net revenues	2,070	1,758	3,110	3,810
Racing Operations \| Calder
Segment Reporting Information [Line Items]
Net revenues from external customers	8,597	22,633	27,908	47,374
Intercompany net revenues	412	554	917	1,150
Racing Operations \| Fair Grounds
Segment Reporting Information [Line Items]
Net revenues from external customers	5,661	5,835	31,725	34,068
Intercompany net revenues	22	11	855	833
Gaming Operations
Segment Reporting Information [Line Items]
Net revenues from external customers	79,832	49,493	218,808	160,200
Adjusted Segment EBITDA	20,569	12,672	61,942	47,437
Gaming Operations \| Calder Casinos
Segment Reporting Information [Line Items]
Net revenues from external customers	19,157	17,841	60,109	58,908
Gaming Operations \| Fair Grounds Slots
Segment Reporting Information [Line Items]
Net revenues from external customers	9,781	10,109	32,123	31,726
Gaming Operations \| VSI
Segment Reporting Information [Line Items]
Net revenues from external customers	8,443	8,089	27,449	26,466
Gaming Operations \| Harlows Casino
Segment Reporting Information [Line Items]
Net revenues from external customers	12,082	13,454	40,533	43,100
Gaming Operations \| Oxford Acquisition [Member]
Segment Reporting Information [Line Items]
Net revenues from external customers	17,730	0	17,730	0
Gaming Operations \| Riverwalk Casino
Segment Reporting Information [Line Items]
Net revenues from external customers	12,639	0	40,864	0
Online Operations
Segment Reporting Information [Line Items]
Net revenues from external customers	48,522	45,593	143,969	142,330
Intercompany net revenues	211	233	657	669
Adjusted Segment EBITDA	12,998	9,917	38,424	35,351
Intersegment Elimination
Segment Reporting Information [Line Items]
Intercompany net revenues	(4,342)	(3,531)	(14,212)	(13,527)
Other Investments
Segment Reporting Information [Line Items]
Net revenues from external customers	6,285	6,543	17,934	17,012
Intercompany net revenues	938	824	3,188	2,646
Adjusted Segment EBITDA	316	516	1,399	243
Corporate
Segment Reporting Information [Line Items]
Net revenues from external customers	$ 320	$ 329	$ 894	$ 806

Segment Information - Equity in Earnings (Losses) of Unconsolidated Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in loss of unconsolidated investments	$ (887)	$ (471)	$ (1,682)	$ (1,255)
Online Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in loss of unconsolidated investments	(393)	(490)	(523)	(1,044)
Other Investments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in loss of unconsolidated investments	$ (494)	$ 19	$ (1,159)	$ (211)

Segment Information - Total Asset Information For Segments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,287,813		$ 1,114,337
Capital expenditures	29,858	$ 25,456
Racing Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	490,901		502,993
Capital expenditures	11,801	7,800
Gaming Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	535,225		382,054
Capital expenditures	11,528	6,846
Online Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	190,603		184,638
Capital expenditures	4,857	3,407
Other Investments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	71,084		$ 44,652
Capital expenditures	$ 1,672	$ 7,403

Commitments And Contingencies - Loss Contingencies (Details) - USD ($) $ in Millions	Feb. 15, 2011	Oct. 04, 2012
Loss Contingencies [Line Items]
Other Assets		$ 2.9
Maximum \| Threatened Litigation
Loss Contingencies [Line Items]
Alleged Damages	$ 3.6
Minimum \| Threatened Litigation
Loss Contingencies [Line Items]
Alleged Damages	$ 0.8

Amendment of Revolving Credit Facility Amendment of Revolving Credit Facility (Details) - USD ($)		9 Months Ended
	May 17, 2013	Sep. 30, 2013	Sep. 30, 2012	Oct. 31, 2010
Line of Credit Facility [Line Items]
Loan origination fees		$ 2,038,000	$ 0
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount	$ 500,000,000			$ 375,000,000
Debt Instrument additional amount	225,000,000
Loan origination fees	$ 2,000,000
Debt Instrument, Description of Variable Rate Basis		LIBOR
Maximum \| Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		3.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.45%
Line of Credit Facility, Covenant Terms, Leverage Ratio		5.0
Line of Credit Facility, Covenant Terms,SeniorSecuredLeverage Ratio		3.5
Minimum \| Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.125%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.175%
Line of Credit Facility, Covenant Terms, Interest Coverage Ratio		3.0
Line of Credit Facility, Covenant Terms, Leverage Ratio		4.5

Stock Repurchase Program (Details) $ in Millions	Apr. 24, 2013 USD ($)
Stock Repurchase Program [Abstract]
Stock Repurchase Program, Authorized Amount	$ 100

HRE Trust Fund Proceeds (Details) - USD ($) $ in Millions	Sep. 30, 2013	Jul. 22, 2013	Jul. 18, 2013
HRE Trust Fund Proceeds [Line Items]
HRE Trust Fund Proceeds	15.00%
Gross Proceeds from HRE Trust		$ 23.0	$ 7.9
Purses [Member]
HRE Trust Fund Proceeds [Line Items]
Gross Proceeds from HRE Trust			3.6
Other Income [Member]
HRE Trust Fund Proceeds [Line Items]
Gross Proceeds from HRE Trust			$ 4.2