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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2014	Oct. 24, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
false	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
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		17,322,487

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 42,041	$ 44,708
Restricted cash	27,144	36,074
Accounts receivable, net of allowance for doubtful accounts of $5,020 at September 30, 2014 and $4,338 at December 31, 2013	35,410	46,572
Deferred income taxes	5,357	8,927
Income taxes receivable	0	12,398
Other current assets	16,393	12,036
Total current assets	126,345	160,715
Property and equipment, net	591,678	585,498
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	99,198	86,151
Goodwill	300,616	300,616
Other intangible assets, net	191,915	198,149
Other assets	22,512	21,132
Total assets	1,332,264	1,352,261
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	49,024	43,123
Bank overdraft	2,553	973
Account Wagering Deposit Liability	18,275	18,679
Purses payable	12,503	18,839
Accrued expenses	62,891	66,469
Interest Payable, Current	5,026	859
Dividends Payable, Current	0	15,186
Taxes Payable, Current	4,513	0
Deferred revenue	12,496	49,078
Total current liabilities	167,281	213,206
Long-term debt, net of current maturities	383,391	369,191
Other liabilities	20,061	17,753
Deferred revenue	15,916	16,706
Deferred income taxes	30,616	30,616
Total liabilities	617,265	647,472
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; 17,322 shares issued at September 30, 2014 and 17,948 shares issued at December 31, 2013	246,001	295,955
Retained earnings	468,998	408,834
Total shareholders' equity	714,999	704,789
Total liabilities and shareholders' equity	$ 1,332,264	$ 1,352,261

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Allowance for doubtful accounts	$ 5,020	$ 4,338
Preferred stock, shares authorized	250	250
Common stock, shares authorized	50,000	50,000
Common stock, shares issued	17,322	17,948

Condensed Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net revenues:
Racing	$ 41,055	$ 50,687	$ 231,069	$ 235,887
Gaming	81,805	79,832	250,318	218,808
Online	46,266	48,522	149,426	143,969
Other	4,539	6,455	13,813	18,302
Net revenues	173,665	185,496	644,626	616,966
Operating expenses:
Racing	46,492	54,375	175,195	185,655
Gaming	60,618	61,086	185,017	161,698
Online	31,872	32,227	102,260	95,807
Other	5,837	6,367	17,885	17,926
Selling, general and administrative expenses	20,473	21,188	60,604	60,842
Insurance recoveries, net of losses	0	0	(431)	(375)
Operating income	8,373	10,253	104,096	95,413
Other income (expense):
Interest income	6	6	15	105
Interest expense	(5,173)	(1,407)	(15,107)	(4,139)
Equity in gains (losses) of unconsolidated investments	1,057	(887)	5,853	(1,682)
Miscellaneous, net	114	4,438	482	5,468
Total other income (expense)	(3,996)	2,150	(8,757)	(248)
Earnings from continuing operations before provision for income taxes	4,377	12,403	95,339	95,165
Income tax provision	(846)	(3,195)	(35,175)	(34,559)
Earnings from continuing operations	3,531	9,208	60,164	60,606
Discontinued operations, net of income taxes:
Earnings (loss) from operations	0	41	0	(1)
Net earnings and comprehensive income	$ 3,531	$ 9,249	$ 60,164	$ 60,605
Earnings Per Share, Basic [Abstract]
Net earnings (in dollars per share), Basic	$ 0.21	$ 0.52	$ 3.44	$ 3.44
Earnings Per Share, Diluted [Abstract]
Income (Loss) from Continuing Operations, Per Diluted Share	0.20	0.51	3.40	3.39
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.00	0.01	0.00	0.00
Net earnings (in dollars per share), Diluted	$ 0.20	$ 0.52	$ 3.40	$ 3.39
Weighted average shares outstanding:
Basic (in shares)	17,020	17,328	17,322	17,269
Diluted (in shares)	17,303	17,955	17,670	17,881

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net earnings and comprehensive income	$ 60,164	$ 60,605
Adjustments to reconcile net earnings and comprehensive income to net cash provided by operating activities:
Depreciation and amortization	48,324	45,822
Gain on asset disposition	(405)	(495)
Equity in (gain) loss of unconsolidated investments	(5,853)	1,682
Share-based compensation	10,567	15,567
Other	458	555
Increase (decrease) in cash resulting from changes in operating assets and liabilities, net of business acquisition:
Restricted cash	8,525	2,056
Accounts receivable	(1,455)	(8,482)
Other current assets	(3,346)	(793)
Accounts payable	2,872	5,812
Purses payable	(6,336)	(3,284)
Accrued expenses	2,707	2,202
Deferred revenue	(24,797)	(17,100)
Income taxes receivable and payable	20,482	9,305
Other assets and liabilities	2,338	921
Net cash provided by operating activities	114,245	114,373
Cash flows from investing activities:
Additions to property and equipment	(48,854)	(29,858)
Payments to Acquire Businesses, Net of Cash Acquired	0	(154,872)
Payments to Acquire Intangible Assets	0	(2,500)
Payments to Acquire Additional Interest in Subsidiaries	(2,250)	(2,250)
Investment in joint ventures	(9,375)	(27,000)
Purchases of minority investments	(273)	(625)
Proceeds on sale of property and equipment	925	4
Change in deposit wagering asset	404	(3,841)
Net cash used in investing activities	(59,423)	(220,942)
Cash flows from financing activities:
Borrowings on bank line of credit	317,379	641,665
Repayments on bank line of credit	(303,179)	(526,611)
Change in bank overdraft	1,580	(1,103)
Payment of dividends	(15,186)	0
Stock Repurchased and Retired During Period, Value	(61,561)	0
Repurchase of common stock from share-based compensation	(9,298)	(5,940)
Common stock issued	7,475	1,135
Windfall tax benefit from share-based compensation	6,904	2,194
Loan Origination Fees	(170)	(2,038)
Payments of Debt Issuance Costs	(1,029)	0
Change in deposit wagering liability	(404)	3,841
Net cash (used in) provided by financing activities	(57,489)	113,143
Net (decrease) increase in cash and cash equivalents	(2,667)	6,574
Cash and cash equivalents, beginning of period	44,708	37,177
Cash and cash equivalents, end of period	42,041	43,751
Cash paid during the period for:
Interest	9,078	2,847
State tax credits	0	1,298
Income taxes	16,956	20,948
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	2,991	32,460
Capital Expenditures Incurred but Not yet Paid	0	331
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed) [Abstract]
Fair Value of Assets Acquired	0	161,051
Liabilities Assumed	$ 0	$ 6,179

Basis Of Presentation	9 Months Ended
Basis Of Presentation	Sep. 30, 2014
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, 2013 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 65 live thoroughbred racing days during the third quarter of 2014, which compares to 104 live thoroughbred racing days during the third quarter of 2013. This decrease was due to the July 1, 2014 cessation of pari-mutuel operations at Calder Race Course ("Calder"). For the nine months ended September 30, 2014, the Company conducted 271 live thoroughbred racing days, which compares to 284 live racing days during the nine months ended September 30, 2013. 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. Discontinued Operations During the year ended December 31, 2013, the Company ceased operations of Fight! Magazine, a division of Bluff Media. Fight! Magazine, which was previously a component of the Other Investments segment, and its results of operations for the three months and nine months ended September 30, 2013 have been reclassified to discontinued operations. 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. 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, 2014 and December 31, 2013, the outstanding reward point liabilities were $2.0 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, 2014 and 2013, promotional allowances of $8.7 million were included as a reduction to net revenues. During those periods, Online Business promotional allowances were $3.6 million and $3.4 million, respectively. Gaming promotional allowances were $5.0 million and $5.1 million, respectively. Racing Operations promotional allowances were $0.1 million and $0.2 million, respectively. The estimated cost of providing promotional allowances included in operating expenses totaled $2.3 million and $2.4 million for each of the three months ended September 30, 2014 and 2013. During the nine months ended September 30, 2014 and 2013, promotional allowances of $25.0 million and $25.1 million, respectively, were included as a reduction to net revenues. During those periods, Online Business promotional allowances were $9.8 million and $9.5 million, respectively. Gaming promotional allowances were $14.7 million and $14.9 million, respectively. Racing Operations promotional allowances were $0.5 million and $0.7 million, respectively. The estimated cost of providing promotional allowances included in operating expenses for the nine months ended September 30, 2014 and 2013 totaled $6.9 million and $7.2 million, respectively.

Acquisitions And New Ventures Acquisition And New Ventures (Notes)

9 Months Ended

Sep. 30, 2014

Acquisitions and Joint Ventures [Abstract]

Acquisitions And New Ventures

NOTE 2 — NEW VENTURES & ACQUISITIONS

Saratoga Harness Racing, Inc. Joint Venture

On May 13, 2014, the Company entered into a 50% joint venture with Saratoga Harness Racing, Inc. ("SHRI") to bid on the development, construction and operation of the Capital View Casino & Resort located in the Capital Region near Albany, New York. On June 30, 2014, the joint venture filed an application with the New York State Facility Location Board to obtain a license to build and operate a facility with approximately 1,500 slot machines, 56 table games, a 100-room hotel and multiple entertainment and dining options. The expected cost of the project approximates $330 million, which includes a $50 million license fee. The joint venture anticipates funding a majority of the cost through project debt financing. The Company intends to fund its equity share of the joint venture from its Senior Secured Credit Facility. The joint venture is one of four remaining bidders competing for a license in the Capital Region of New York, and the Company expects, but cannot guarantee, that the state will award a license during the fourth quarter of 2014.

During the nine months ended September 30, 2014, the Company incurred $0.8 million in equity losses in its other investments segment associated with the license application process and funded $2.9 million to the joint venture. Should the joint venture be successful in obtaining the license for the Capital View Casino & Resort, the Company anticipates funding requirements of approximately $1.0 million for its share of the joint venture's expenditures during the fourth quarter of 2014, when the winning bidder is expected to be announced.

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. The fair value of the assets acquired and liabilities assumed has been included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. During the three and nine months ended September 30, 2014, Oxford contributed revenues of $21.9 million and $58.8 million, respectively, and earnings from continuing operations before provision for income taxes of $5.0 million and $11.5 million, respectively.

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 Oxford as of the beginning of 2013. 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 acquisition of Oxford been consummated at the beginning of 2013 (in thousands, except per common share data):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2013		2013
Net revenues	$	189,518	$	657,938
Earnings from continuing operations	$	9,653	$	64,872
Earnings from continuing operations per common share
Basic:
Earnings from continuing operations	$	0.55	$	3.68
Diluted:
Earnings from continuing operations	$	0.54	$	3.63
Shares used in computing earnings from continuing operations per common share:
Basic	17,328		17,269
Diluted	17,955		17,881

Natural Disasters (Notes)	9 Months Ended
Natural Disasters (Notes)	Sep. 30, 2014
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 years ended December 31, 2013 and 2012, the Company recorded a reduction of property and equipment of $0.6 million and received $1.5 million from its insurance carriers in partial settlement of its claim. During the nine months ended September 30, 2014, the Company received an additional $0.4 million from its insurance carriers and recognized insurance recoveries, net of losses of $0.4 million as a component of operating income. The insurance claims for this event have been finalized with our insurance carriers, and the Company does not expect to receive additional funds from this claim.

Investment in and Advances to Unconsolidated Affiliate (Notes)

9 Months Ended

Sep. 30, 2014

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

NOTE 4—INVESTMENT IN AND ADVANCES TO UNCONSOLIDATED AFFILIATE

Miami Valley Gaming

During March 2012, the Company entered 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 Lebanon, Ohio. Through the joint venture agreement, the Company and DNC formed a new company, Miami Valley Gaming, LLC (“MVG”), to manage both the Company’s and DNC’s interests in the development and operation of the racetrack and VLT gaming facility. 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. ("MVG Sellers") 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.

On December 12, 2013, the new facility opened in Lebanon, Ohio on a 120-acre site. The facility includes a 5/8-mile harness racing track and an 186,000-square-foot gaming facility with approximately 1,600 VLTs. MVG will invest approximately $212.0 million in the new facility, including a $50.0 million license fee to the Ohio Lottery Commission. One-half of the license fee was funded during 2012 and 2013, and the remaining $25 million license fee will be funded during the fourth quarter of 2014. During the nine months ended September 30, 2014, the Company funded $6.5 million in capital contributions to the joint venture. During the fourth quarter of 2014, the Company anticipates funding approximately $8.5 million in additional capital contributions to the joint venture to fund the remaining portion of the license fee.

Since both DNC and the Company have participating rights over MVG, and both must consent to MVG's operating, investing and financing decisions, the Company accounts for MVG using the equity method. Summarized financial information for MVG is comprised of the following (in thousands):



	September 30, 2014		December 31, 2013
Assets
Current assets	$	25,882	$	18,002
Property and equipment, net	133,021		151,434
Other assets, net	80,407		80,665
Total assets	$	239,310	$	250,101

Liabilities and Members' Equity
Current liabilities	$	14,468	$	46,966
Current portion of long-term debt	8,332		8,332
Long-term debt, excluding current portion	28,039		32,426
Other liabilities	75		75
Members' equity	188,396		162,302
Total liabilities and members' equity	$	239,310	$	250,101

The joint venture's long-term debt consists of a $50 million secured note payable from MVG to the MVG Sellers payable quarterly over 6 years through August 2019 at a 5.0% interest rate.



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Gaming revenue	$	33,365		$	—		$	98,928		$	—
Non-gaming revenue	1,289			1,305			4,833			4,509
Net revenues	34,654			1,305			103,761			4,509
Operating and SG&A expenses	26,123			1,347			76,387			4,703
Depreciation & amortization expenses	3,474			101			10,315			114
Pre-opening expenses	—			1,001			54			2,422
Operating income (loss)	5,057			(1,144		)	17,005			(2,730		)
Interest (expense) income, net	(1,380		)	—			(3,654		)	—
Net income (loss)	$	3,677		$	(1,144	)	$	13,351		$	(2,730	)

The Company's 50% share of MVG's results has been included in our accompanying condensed consolidated financial statements for the three and nine months ended September 30, 2014 and 2013, as follows (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2014		2013			2014		2013
Equity in gains (losses) of unconsolidated investments	$	1,839	$	(572	)	$	6,676	$	(1,365	)

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 5 — INCOME TAXES The Company’s effective tax rate from continuing operations for the nine months ended September 30, 2014 and 2013 was 37% and 36%, respectively. The effective tax rate for the nine months ended September 30, 2014 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, 2014, the Company did not record interest expense related to uncertain income tax benefits and had gross uncertain tax benefits of $0.8 million as of September 30, 2014. If these benefits had been recognized, there would have been a $0.8 million decrease to annual income tax expense. 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, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Indefinte-Lived Intangible Assets Impairment Test

NOTE 6 — GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS IMPAIRMENT TEST

In accordance with ASU No. 2011-08, Intangibles-Goodwill and Other: Testing Goodwill for Impairment and ASU No. 2012-02, Intangibles-Goodwill and Other: Testing Indefinite-Lived Intangible Assets for Impairment, the Company completed the required annual impairment tests of goodwill and indefinite-lived intangible assets as of March 31, 2014, 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.

Definite-lived and indefinite-lived intangible assets are summarized as follows (in thousands):



	September 30, 2014							December 31, 2013
	Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
Definite-lived intangible assets	$	76,002	$	(42,430	)	$	33,572	$	76,002	$	(36,196	)	$	39,806
Indefinite-lived intangible assets	158,343		—			158,343		158,343		—			158,343
Total	$	234,345	$	(42,430	)	$	191,915	$	234,345	$	(36,196	)	$	198,149

Fair Value Of Assets And Liabilities

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Of Assets And Liabilities

NOTE 7 — 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, 2014, and December 31, 2013, respectively (in thousands):



	Fair Value
	Hierarchy	September 30, 2014		December 31, 2013
Cash equivalents and restricted cash	Level 1	$	28,003	$	36,940
Contingent consideration liability	Level 3	$	2,331	$	2,331
Senior Unsecured Notes	Level 2	$	300,750	$	305,250

The Company's cash equivalents and restricted cash, 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 a contingent consideration recorded in conjunction with the Bluff Media acquisition was based on significant inputs not observed in the market and represents a Level 3 fair value measurement. The estimate of the contingent consideration liability uses an income approach and is 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's $300 million par value Senior Unsecured Notes represent a Level 2 fair value measurement. The fair value of the Senior Unsecured Notes is estimated based on unadjusted quoted prices for similar liabilities in markets that are not active.

The Company currently has no other assets or liabilities subject to fair value measurement on a 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.

Long-Term Debt: Senior Secured Credit Facility—The carrying amounts of the Company’s borrowings under its Senior Secured Credit Facility approximates fair value, based upon current interest rates and represents a Level 2 fair value measurement.

During the nine months ended September 30, 2014, the Company did not measure any assets at fair value on a non-recurring basis.

- 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, 2014
LTIP [Abstract]
Long-term Incentive Plan	NOTE 8 — LONG-TERM INCENTIVE PLAN On February 11, 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. During 2013, the Grantees received 92,000 restricted shares of the Company's common stock vesting over approximately four years and 324,000 restricted shares of the Company's common stock with vesting contingent upon the Company's common stock reaching certain closing prices on NASDAQ for 20 consecutive trading days. During the three months ended September 30, 2014, the Company's closing stock price achieved the twenty consecutive trading days closing stock price requirement for 84,500 restricted shares. During the year ended December 31, 2013, the Company's closing stock price achieved the stock price requirement for 155,000 restricted shares. During the three and nine months ended September 30, 2014, the Company recognized $1.3 million and $7.8 million of compensation expense related to the New Company LTIP. As of September 30, 2014, unrecognized compensation expense attributable to unvested service period awards was $3.3 million. The weighted average period over which the Company expects to recognize the remaining compensation expense under service period awards approximates 20 months. There is no remaining unrecognized expense under the market condition awards.

Earnings Per Common Share Computations

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Common Share Computations

NOTE 9 — 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,
	2014			2013			2014			2013
Numerator for basic earnings from continuing operations per common share
Earnings from continuing operations	$	3,531		$	9,208		$	60,164		$	60,606
Earnings from continuing operations allocated to participating securities	(37		)	(193		)	(623		)	(1,281		)
Numerator for basic earnings from continuing operations per common share	$	3,494		$	9,015		$	59,541		$	59,325
Numerator for basic earnings per common share
Net earnings	$	3,531		$	9,249		$	60,164		$	60,605
Net earnings allocated to participating securities	(37		)	(195		)	(623		)	(1,281		)
Numerator for basic net earnings per common share	$	3,494		$	9,054		$	59,541		$	59,324

Numerator for diluted earnings from continuing operations per common share	$	3,531		$	9,208		$	60,164		$	60,606

Numerator for diluted earnings per common share	$	3,531		$	9,249		$	60,164		$	60,605

Denominator for net earnings per common share:
Basic	17,020			17,328			17,322			17,269
Plus dilutive effect of stock options	102			254			167			239
Plus dilutive effect of participating securities	181			373			181			373
Diluted	17,303			17,955			17,670			17,881

Earnings per common share:
Basic
Net earnings	$	0.21		$	0.52		$	3.44		$	3.44
Diluted
Net earnings from continuing operations	$	0.20		$	0.51		$	3.40		$	3.39
Discontinued operations	—			0.01			—			—
Net earnings	$	0.20		$	0.52		$	3.40		$	3.39

Share Repurchase (Notes)	9 Months Ended
Share Repurchase (Notes)	Sep. 30, 2014
Share Repurchase [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 10 — COMMON STOCK SHARE REPURCHASE On April 23, 2013, the Company's Board of Directors authorized the repurchase of up to $100 million of its common stock outstanding in a stock repurchase program. During the nine months ended September 30, 2014, the Company repurchased 691 thousand shares for $61.6 million in a privately negotiated transaction. The shares were retired, and the cost of the shares acquired was treated as a deduction from shareholders' equity. The Company funded this repurchase using available cash and borrowing under its Senior Secured Credit Facility. Under the terms of the stock repurchase program, the Company may repurchase an additional $38.4 million of common stock prior to the termination of the repurchase program on December 31, 2015.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Segment Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Information

NOTE 11 — 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, which ceased pari-mutuel operations on July 1, 2014, 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"), the Company's equity investment in MVG, Oxford, Riverwalk Casino Hotel ("Riverwalk") 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, SHRI, Bluff Media and the Company's other minor investments. Eliminations include the elimination of intersegment transactions.

On January 1, 2014, the Company reclassified its equity investment in MVG from Other Investments to Gaming, to coincide with the first full period of operations for the venture, which opened on December 12, 2013. MVG's results of operations for the three and nine months ended September 30, 2013 have been reclassified to the Gaming segment.

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, the impairment of assets and other charges or recoveries). Adjusted EBITDA also includes 50% of the operating income or loss of our joint venture, MVG. The Company utilizes 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 Company implemented the Adjusted EBITDA measure during the second quarter of 2013. The table below presents information about the reported segments for the three and nine months ended September 30, 2014 and 2013 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net revenues from external customers:
Churchill Downs	$	8,021		$	7,956		$	128,511		$	118,534
Arlington	26,974			28,473			54,289			57,720
Calder	786			8,597			18,524			27,908
Fair Grounds	5,274			5,661			29,745			31,725
Total Racing Operations	41,055			50,687			231,069			235,887
Calder Casino	18,104			19,157			58,560			60,109
Fair Grounds Slots	9,453			9,781			30,823			32,123
VSI	8,190			8,443			25,771			27,449
Harlow's Casino	12,197			12,082			38,425			40,533
Oxford Casino	21,887			17,730			58,808			17,730
Riverwalk Casino	11,974			12,639			37,931			40,864
Total Gaming	81,805			79,832			250,318			218,808
Online Business	46,266			48,522			149,426			143,969
Other Investments	4,249			6,135			12,864			17,408
Corporate	290			320			949			894
Net revenues from external customers	$	173,665		$	185,496		$	644,626		$	616,966
Intercompany net revenues:
Churchill Downs	$	678		$	689		$	5,851		$	5,485
Arlington	2,001			2,070			4,795			3,110
Calder	—			412			707			917
Fair Grounds	15			22			744			855
Total Racing Operations	2,694			3,193			12,097			10,367
Online Business	240			211			714			657
Other Investments	829			938			2,937			3,188
Eliminations	(3,763		)	(4,342		)	(15,748		)	(14,212		)
Net revenues	$	—		$	—		$	—		$	—
Reconciliation of segment Adjusted EBITDA to net earnings:
Racing Operations	$	(1,229	)	$	(907	)	$	66,600		$	58,353
Gaming	24,937			20,496			78,362			61,788
Online Business	11,098			12,998			35,135			38,424
Other Investments	(1,254		)	469			(3,280		)	1,698
Total segment Adjusted EBITDA	33,552			33,056			176,817			160,263
Corporate Adjusted EBITDA	(1,398		)	(1,215		)	(3,645		)	(3,380		)
Other charges	(2,298		)	—			(2,298		)	—
Insurance recoveries, net of losses	—			—			431			375
HRE Trust Fund proceeds	—			4,249			—			4,541
Share-based compensation expense	(2,213		)	(5,990		)	(10,567		)	(15,567		)
Pre-opening expense	—			(500		)	(27		)	(1,211		)
MVG interest expense, net	(819		)	—			(1,956		)	—
Depreciation and amortization	(17,280		)	(15,796		)	(48,324		)	(45,822		)
Interest (expense) income, net	(5,167		)	(1,401		)	(15,092		)	(4,034		)
Income tax provision	(846		)	(3,195		)	(35,175		)	(34,559		)
Earnings from continuing operations	3,531			9,208			60,164			60,606
Discontinued operations, net of income taxes	—			41			—			(1		)
Net earnings and comprehensive income	$	3,531		$	9,249		$	60,164		$	60,605

The table below presents equity in earnings (losses) of unconsolidated investments included in the Company’s reported segments for the three and nine months ended September 30, 2014 and 2013 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Gaming	$	1,839		$	(572	)	$	6,676		$	(1,365	)
Online Business	(289		)	(393		)	(41		)	(523		)
Other Investments	(493		)	78			(782		)	206
	$	1,057		$	(887	)	$	5,853		$	(1,682	)

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



	September 30, 2014		December 31, 2013
Total assets:
Racing Operations	$	498,459	$	513,345
Gaming	618,045		622,038
Online Business	185,507		186,621
Other Investments	30,253		30,257
	$	1,332,264	$	1,352,261

The table below presents total capital expenditures for the reported segments for the nine months ended September 30, 2014 and 2013 (in thousands):



	Nine Months Ended September 30,
	2014		2013
Capital expenditures:
Racing Operations	$	33,491	$	11,801
Gaming	6,629		11,528
Online Business	4,716		4,857
Other Investments	4,018		1,672
	$	48,854	$	29,858

- 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
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+ Details

Commitments And Contingencies	9 Months Ended
Commitments And Contingencies	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	NOTE 12 — 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. We do not believe that the final outcome of these matters will have a material adverse impact on our business, financial condition and results of operations. Pennsylvania ADW Taxation On June 13, 2014, the Company filed a lawsuit in the Commonwealth Court of Pennsylvania styled Churchill Downs Incorporated and Churchill Downs Technology Initiatives Company v. the Commonwealth of Pennsylvania, et al., (Docket No. 322 MD 2014) challenging the constitutionality of Pennsylvania laws that, among other things, state that out-of-state companies must pay a 10% tax on ADW wagers. On September 30, 2014, the Company and the Commonwealth of Pennsylvania settled the above captioned dispute. The Company, through its subsidiary Churchill Downs Technology Initiatives Company, will now be subject to the same tax rate paid by in-state racetracks on online wagers. During October 2014, the Company filed a petition for refund with the Pennsylvania Department of Revenue for $1.9 million to reimburse the Company for taxes paid at the 10% taxation rate for the period from October 1, 2013 through June 30, 2014. Louisiana Horsemens' Purses On April 21, 2014, John L. Soileau and other individuals filed a Petition for Declaratory Judgment, Permanent Injunction, and Damages - Class Action styled John L. Soileau, et. al. versus Churchill Downs Louisiana Horseracing, LLC, Churchill Downs Louisiana Video Poker Company, LLC (Suit No. 14-3873) in the Parish of Orleans, State of Louisiana. The petition defines the “alleged plaintiff class” as quarter-horse owners, trainers and jockeys that have won purses at the “Fair Grounds Race Course & Slots” facility in New Orleans, Louisiana since the first effective date of La. R.S. 27:438 and specifically since 2008. The petition alleges that Churchill Downs Louisiana Horseracing, L.L.C. and Churchill Downs Louisiana Video Poker Company, L.L.C. (“Fair Grounds”) have collected certain monies through video draw poker devices that constitute monies earned for purse supplements and all of those supplemental purse monies have been paid to thoroughbred horsemen during Fair Grounds’ live thoroughbred horse meets while La. R.S. 27:438 requires a portion of those supplemental purse monies to be paid to quarter-horse horsemen during Fair Grounds’ live quarter-horse meets. The petition requests that the Court declare that Fair Grounds violated La. R.S. 27:438, issue a permanent and mandatory injunction ordering Fair Grounds to pay all future supplements due to the plaintiff class pursuant to La. R.S. 27:438, and to pay the plaintiff class such sums as it finds to reasonably represent the value of the sums due to the plaintiff class. On August 14, 2014, the plaintiffs filed their First Amended Petition for Declaratory Judgment, Permanent Injunction, and Damages-Class Action naming the Horsemen’s Benevolent and Protective Association 1993, Inc. (“HBPA”) as an additional defendant and alleging that HBPA is also liable to plaintiffs for the disputed purse funds. On October 9, 2014, HBPA and Fair Grounds filed exceptions to the suit seeking dismissal on various grounds. 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 2012 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. This matter remains pending before the Tax and Miscellaneous Remedies Section of the Circuit Court of Cook County. No trial date has been set. 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. On October 31, 2013, the Simpson County Court entered an Order Denying Petitioners’ (Kentucky Downs Management Inc. et al.) Motion for Summary Judgment. The case will now move forward through discovery and to trial. No trial date has been set. 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 and returned deposited funds to Texas residents. The Company filed a motion for an expedited hearing in the United States Court of Appeals, which was granted on October 17, 2013. The Texas Racing Commission, et. al., filed an appellate brief on December 13, 2013. The Company filed its brief in reply on December 30, 2013. Oral arguments were heard before the United States Court of Appeals for the Fifth Circuit on February 4, 2014. On September 25, 2014, the United States Court of Appeals for the Fifth Circuit issued an unpublished opinion affirming the United States District Court for the Western District of Texas and its ruling in favor of the Texas Racing Commission. The Company is now evaluating its legal options at all levels. There are no other material pending legal proceedings.

Accounting Pronouncements (Notes)	9 Months Ended
Accounting Pronouncements (Notes)	Sep. 30, 2014
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	NOTE 13 — RECENT ACCOUNTING PRONOUNCEMENTS In August 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, which explicitly requires management to assess an entity's ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. Management will be required to assess, in each interim and annual period, if there is substantial doubt of an entity's ability to continue as a going concern as evidenced by relevant known or knowable conditions including an entity's ability to meet its future obligations. Management will be required to provide disclosures regardless of whether substantial doubt is alleviated by management's plans. The guidance will become effective for annual fiscal periods ending after December 15, 2016. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue in a manner that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance will become effective for annual periods beginning after December 15, 2016 and will be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is assessing the impact of the new accounting guidance but does not expect adoption will have a material impact on the Company's business, financial condition or results of operations. In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that represents a strategic shift that has, or will have, a major effect on an entity’s operations and financial results. The revised guidance will become effective for annual fiscal periods beginning after December 15, 2014.

Calder Racing Operations (Notes)	9 Months Ended
Calder Racing Operations (Notes)	Sep. 30, 2014
Calder Racing [Abstract]
Calder Racing Operations [Text Block]	NOTE 14 — CALDER RACING OPERATIONS During 2013, Calder and Gulfstream Park began conducting concurrent live thoroughbred racing in certain months, leading to an overlapping of live racing resulting in direct competition for on-track horseracing, in the intrastate and interstate simulcast markets and for racehorses in South Florida. This negatively affected Calder’s ability to achieve full field horseraces and to generate handle on live racing. On May 24, 2013, Calder filed a petition with the Florida Division of Administrative Hearings (the “DOAH”) challenging the other racetracks' interpretation that they may conduct interstate simulcasting, and whether that was a valid interpretation of state law and the Interstate Horseracing Act of 1978. During 2013 and 2014, the DOAH and other state legislative bodies held public hearings and proposed modification to state laws without reaching a definitive resolution. On July 1, 2014, the Company finalized an agreement with The Stronach Group (“TSG”) under which TSG will operate, at TSG’s expense, live racing and maintain certain facilities used for racing and training at Calder. The agreement, which expires on December 31, 2020, will involve a lease to TSG of Calder’s racetrack and certain other racing and training facilities, including a portion of the barns on Calder’s backside consisting of approximately 430 stalls. TSG will operate live horse racing at Calder, under Calder’s racing permits, in compliance with all applicable laws and licensing requirements. TSG will operate and maintain the racing and training facilities at Calder on a year-round basis. Furthermore, TSG will be responsible for substantially all of the direct and indirect costs associated with these activities and receive the associated revenues. The Company will continue to own and operate the Calder Casino. In addition, as part of the agreement, effective July 1, 2014, the Company amended Calder’s agreement with the Florida Horsemen’s Benevolent and Protective Association, Inc. (“FHBPA”) which reduced the rate of non-stakes purse supplements payable by the Calder Casino from 12 percent to 10 percent of slot machine revenue. Finally, the Company and TSG modified their HRTV operating and ownership agreement which will result in the divestiture of the Company’s interest in HRTV. The Company expects to complete the HRTV transaction during the first quarter of 2015. As a result of the agreement with TSG, on July 1, 2014, the Company notified 214 Calder employees of the termination of their employment which occurred between July 8, 2014, and September 2, 2014. In accordance with the terms of a one-time benefit arrangement, the Company recognized $2.3 million of severance and other benefit costs within selling, general and administrative expenses during the three months ended September 30, 2014. In addition, Calder recognized accelerated depreciation expense of approximately $1.3 million related to Calder's barns, which are not expected to be utilized subsequent to December 31, 2014. The Company expects to recognize additional depreciation expense of approximately $2.3 million during the three months ended December 31, 2014. During the fourth quarter of 2014, the Company will continue to assess potential alternative uses of its Calder facility not associated with the lease agreement.

Subsequent Event (Notes)	9 Months Ended
Subsequent Event (Notes)	Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 15 — SUBSEQUENT EVENTS Saratoga Harness Racing, Inc. Equity Investment and Management Agreement On October 28, 2014, the Company signed a definitive purchase agreement to acquire a 25% ownership interest in Saratoga Casino Holdings, LLC ("SCH"), a newly formed entity which owns Saratoga Casino and Raceway in Saratoga Springs, NY; SHRI's controlling interest in Saratoga Casino Black Hawk in Black Hawk, CO; SHRI's 50% interest in a joint venture with Delaware North Companies to manage the Gideon Putnam Hotel and Resort in Saratoga Springs, NY; its interest in the proposed Capital View Casino & Resort in East Greenbush, NY; and SHRI's interest in a joint venture with Rush Street Gaming to build the proposed Hudson Valley Casino and Resort in Newburgh, NY. In addition, the Company signed a five-year management agreement pursuant to which it will manage Saratoga Casino and Raceway, Saratoga Casino Black Hawk and, should the partnership obtain the license, the Capital View Casino & Resort. Both the funding of the equity investment and the commencement of the management agreement are subject to regulatory approval and licensing requirements in New York and Colorado. Luckity ADW Operations During October 2014, the Company decided to cease operations of Luckity, its ADW business which offers real-money bingo with outcomes based on and determined by pari-mutuel wagers on live horseraces. Management determined that Luckity did not achieve the expected financial returns and was unlikely to significantly improve its results. During the fourth quarter of 2014, the Company expects to record an impairment charge of approximately $3.2 million for fixed assets specifically associated with Luckity. The Company does not expect to incur any additional, material expenditures in connection with ceasing operations.

Basis Of Presentation (Policies)	9 Months Ended
Basis Of Presentation (Policies)	Sep. 30, 2014
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 65 live thoroughbred racing days during the third quarter of 2014, which compares to 104 live thoroughbred racing days during the third quarter of 2013. This decrease was due to the July 1, 2014 cessation of pari-mutuel operations at Calder Race Course ("Calder"). For the nine months ended September 30, 2014, the Company conducted 271 live thoroughbred racing days, which compares to 284 live racing days during the nine months ended September 30, 2013. 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.
Discontinued Operations, Policy [Policy Text Block]	During the year ended December 31, 2013, the Company ceased operations of Fight! Magazine, a division of Bluff Media. Fight! Magazine, which was previously a component of the Other Investments segment, and its results of operations for the three months and nine months ended September 30, 2013 have been reclassified to discontinued operations.
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.
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, 2014 and December 31, 2013, the outstanding reward point liabilities were $2.0 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, 2014 and 2013, promotional allowances of $8.7 million were included as a reduction to net revenues. During those periods, Online Business promotional allowances were $3.6 million and $3.4 million, respectively. Gaming promotional allowances were $5.0 million and $5.1 million, respectively. Racing Operations promotional allowances were $0.1 million and $0.2 million, respectively. The estimated cost of providing promotional allowances included in operating expenses totaled $2.3 million and $2.4 million for each of the three months ended September 30, 2014 and 2013

- 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, 2014

Acquisitions and New Ventures [Abstract]

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 acquisition of Oxford been consummated at the beginning of 2013 (in thousands, except per common share data):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2013		2013
Net revenues	$	189,518	$	657,938
Earnings from continuing operations	$	9,653	$	64,872
Earnings from continuing operations per common share
Basic:
Earnings from continuing operations	$	0.55	$	3.68
Diluted:
Earnings from continuing operations	$	0.54	$	3.63
Shares used in computing earnings from continuing operations per common share:
Basic	17,328		17,269
Diluted	17,955		17,881

Investment in and Advances to Unconsolidated Affiliate (Tables)

9 Months Ended

Sep. 30, 2014

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Affiliate Balance Sheet [Table Text Block]

Summarized financial information for MVG is comprised of the following (in thousands):



	September 30, 2014		December 31, 2013
Assets
Current assets	$	25,882	$	18,002
Property and equipment, net	133,021		151,434
Other assets, net	80,407		80,665
Total assets	$	239,310	$	250,101

Liabilities and Members' Equity
Current liabilities	$	14,468	$	46,966
Current portion of long-term debt	8,332		8,332
Long-term debt, excluding current portion	28,039		32,426
Other liabilities	75		75
Members' equity	188,396		162,302
Total liabilities and members' equity	$	239,310	$	250,101

Affiliate Income Statement [Table Text Block]



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Gaming revenue	$	33,365		$	—		$	98,928		$	—
Non-gaming revenue	1,289			1,305			4,833			4,509
Net revenues	34,654			1,305			103,761			4,509
Operating and SG&A expenses	26,123			1,347			76,387			4,703
Depreciation & amortization expenses	3,474			101			10,315			114
Pre-opening expenses	—			1,001			54			2,422
Operating income (loss)	5,057			(1,144		)	17,005			(2,730		)
Interest (expense) income, net	(1,380		)	—			(3,654		)	—
Net income (loss)	$	3,677		$	(1,144	)	$	13,351		$	(2,730	)

Investments in and Advances to Affiliates [Table Text Block]



	Three Months Ended September 30,					Nine Months Ended September 30,
	2014		2013			2014		2013
Equity in gains (losses) of unconsolidated investments	$	1,839	$	(572	)	$	6,676	$	(1,365	)

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

9 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite and Finite Lived Assets

Definite-lived and indefinite-lived intangible assets are summarized as follows (in thousands):



	September 30, 2014							December 31, 2013
	Gross Carrying Value		Accumulated Amortization			Net Book Value		Gross Carrying Value		Accumulated Amortization			Net Book Value
Definite-lived intangible assets	$	76,002	$	(42,430	)	$	33,572	$	76,002	$	(36,196	)	$	39,806
Indefinite-lived intangible assets	158,343		—			158,343		158,343		—			158,343
Total	$	234,345	$	(42,430	)	$	191,915	$	234,345	$	(36,196	)	$	198,149

Fair Value Of Assets And Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

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, 2014, and December 31, 2013, respectively (in thousands):



	Fair Value
	Hierarchy	September 30, 2014		December 31, 2013
Cash equivalents and restricted cash	Level 1	$	28,003	$	36,940
Contingent consideration liability	Level 3	$	2,331	$	2,331
Senior Unsecured Notes	Level 2	$	300,750	$	305,250

Earnings Per Common Share Computations (Tables)

9 Months Ended

Sep. 30, 2014

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,
	2014			2013			2014			2013
Numerator for basic earnings from continuing operations per common share
Earnings from continuing operations	$	3,531		$	9,208		$	60,164		$	60,606
Earnings from continuing operations allocated to participating securities	(37		)	(193		)	(623		)	(1,281		)
Numerator for basic earnings from continuing operations per common share	$	3,494		$	9,015		$	59,541		$	59,325
Numerator for basic earnings per common share
Net earnings	$	3,531		$	9,249		$	60,164		$	60,605
Net earnings allocated to participating securities	(37		)	(195		)	(623		)	(1,281		)
Numerator for basic net earnings per common share	$	3,494		$	9,054		$	59,541		$	59,324

Numerator for diluted earnings from continuing operations per common share	$	3,531		$	9,208		$	60,164		$	60,606

Numerator for diluted earnings per common share	$	3,531		$	9,249		$	60,164		$	60,605

Denominator for net earnings per common share:
Basic	17,020			17,328			17,322			17,269
Plus dilutive effect of stock options	102			254			167			239
Plus dilutive effect of participating securities	181			373			181			373
Diluted	17,303			17,955			17,670			17,881

Earnings per common share:
Basic
Net earnings	$	0.21		$	0.52		$	3.44		$	3.44
Diluted
Net earnings from continuing operations	$	0.20		$	0.51		$	3.40		$	3.39
Discontinued operations	—			0.01			—			—
Net earnings	$	0.20		$	0.52		$	3.40		$	3.39

Segment Information (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

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, 2014 and 2013 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net revenues from external customers:
Churchill Downs	$	8,021		$	7,956		$	128,511		$	118,534
Arlington	26,974			28,473			54,289			57,720
Calder	786			8,597			18,524			27,908
Fair Grounds	5,274			5,661			29,745			31,725
Total Racing Operations	41,055			50,687			231,069			235,887
Calder Casino	18,104			19,157			58,560			60,109
Fair Grounds Slots	9,453			9,781			30,823			32,123
VSI	8,190			8,443			25,771			27,449
Harlow's Casino	12,197			12,082			38,425			40,533
Oxford Casino	21,887			17,730			58,808			17,730
Riverwalk Casino	11,974			12,639			37,931			40,864
Total Gaming	81,805			79,832			250,318			218,808
Online Business	46,266			48,522			149,426			143,969
Other Investments	4,249			6,135			12,864			17,408
Corporate	290			320			949			894
Net revenues from external customers	$	173,665		$	185,496		$	644,626		$	616,966
Intercompany net revenues:
Churchill Downs	$	678		$	689		$	5,851		$	5,485
Arlington	2,001			2,070			4,795			3,110
Calder	—			412			707			917
Fair Grounds	15			22			744			855
Total Racing Operations	2,694			3,193			12,097			10,367
Online Business	240			211			714			657
Other Investments	829			938			2,937			3,188
Eliminations	(3,763		)	(4,342		)	(15,748		)	(14,212		)
Net revenues	$	—		$	—		$	—		$	—
Reconciliation of segment Adjusted EBITDA to net earnings:
Racing Operations	$	(1,229	)	$	(907	)	$	66,600		$	58,353
Gaming	24,937			20,496			78,362			61,788
Online Business	11,098			12,998			35,135			38,424
Other Investments	(1,254		)	469			(3,280		)	1,698
Total segment Adjusted EBITDA	33,552			33,056			176,817			160,263
Corporate Adjusted EBITDA	(1,398		)	(1,215		)	(3,645		)	(3,380		)
Other charges	(2,298		)	—			(2,298		)	—
Insurance recoveries, net of losses	—			—			431			375
HRE Trust Fund proceeds	—			4,249			—			4,541
Share-based compensation expense	(2,213		)	(5,990		)	(10,567		)	(15,567		)
Pre-opening expense	—			(500		)	(27		)	(1,211		)
MVG interest expense, net	(819		)	—			(1,956		)	—
Depreciation and amortization	(17,280		)	(15,796		)	(48,324		)	(45,822		)
Interest (expense) income, net	(5,167		)	(1,401		)	(15,092		)	(4,034		)
Income tax provision	(846		)	(3,195		)	(35,175		)	(34,559		)
Earnings from continuing operations	3,531			9,208			60,164			60,606
Discontinued operations, net of income taxes	—			41			—			(1		)
Net earnings and comprehensive income	$	3,531		$	9,249		$	60,164		$	60,605

Reconciliation of Assets from Segment to Consolidated



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Gaming	$	1,839		$	(572	)	$	6,676		$	(1,365	)
Online Business	(289		)	(393		)	(41		)	(523		)
Other Investments	(493		)	78			(782		)	206
	$	1,057		$	(887	)	$	5,853		$	(1,682	)

The table below presents total capital expenditures for the reported segments for the nine months ended September 30, 2014 and 2013 (in thousands):



	Nine Months Ended September 30,
	2014		2013
Capital expenditures:
Racing Operations	$	33,491	$	11,801
Gaming	6,629		11,528
Online Business	4,716		4,857
Other Investments	4,018		1,672
	$	48,854	$	29,858

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



	September 30, 2014		December 31, 2013
Total assets:
Racing Operations	$	498,459	$	513,345
Gaming	618,045		622,038
Online Business	185,507		186,621
Other Investments	30,253		30,257
	$	1,332,264	$	1,352,261

Basis Of Presentation (Details) $ in Millions	3 Months Ended		9 Months Ended
Basis Of Presentation (Details) $ in Millions	Sep. 30, 2014 USD ($) d	Sep. 30, 2013 USD ($) d	Sep. 30, 2014 USD ($) d	Sep. 30, 2013 USD ($) d	Dec. 31, 2013 USD ($)
Promotional Allowance [Line Items]
Live Racing Days \| d	65	104	271	284
Promotional Allowances			$ 25.0	$ 25.1
Estimated Cost Of Providing Promotional Allowances	$ 2.3	$ 2.4	6.9	7.2
Customer Loyalty Program Liability, Current	2.0		2.0		$ 2.1
Racing Operations Segment [Member]
Promotional Allowance [Line Items]
Promotional Allowances	0.1	0.2	0.5	0.7
Online Operations
Promotional Allowance [Line Items]
Promotional Allowances	3.6	3.4	9.8	9.5
Gaming Segment [Member]
Promotional Allowance [Line Items]
Promotional Allowances	$ 5.0	$ 5.1	$ 14.7	$ 14.9

Acquisitions And New Ventures Acquisitions And New Ventures (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014 USD ($) terminal	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($) terminal	Sep. 30, 2013 USD ($)	May 13, 2014	Jul. 17, 2013 USD ($) ft² SlotMachines Tables
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ 1,057	$ (887)	$ 5,853	$ (1,682)
Payments to Acquire Interest in Joint Venture			9,375	27,000
Revenues	0	0	0	0
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	4,377	$ 12,403	95,339	$ 95,165
Oxford Acquisition [Member]
Schedule of Equity Method Investments [Line Items]
Future Business Acquisition, Cost Of Acquired Entity, Purchase Price						$ 168,600
Square footage of Casino \| ft²						25,000
Revenues	21,900		58,800
Number Slot Machines \| SlotMachines						800
Number of Tables Games \| Tables						22
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	5,000		11,500
New York Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage					50.00%
Equity Method Investments, Facility Cost	330,000		$ 330,000
Income (Loss) from Equity Method Investments	(800)
Payments to Acquire Interest in Joint Venture	2,900
Anticipated Payments to Acquire Interest in Joint Venture	$ 1,000
Number Slot Machines \| terminal	1,500		1,500
Number of Hotel rooms \| terminal	100		100
Number of Tables Games \| terminal	56		56
New York Joint Venture [Member] \| Notes Payable, Other Payables [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 50,000		$ 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, 2013
Business Acquisition [Line Items]
Net revenues	$ 189,518	$ 657,938
Earnings from continuing operations	$ 9,653	$ 64,872
Earnings from continuing operations, Basic	$ 0.55	$ 3.68
Earnings from continuing operations, Diluted	$ 0.54	$ 3.63
Basic	17,328	17,269
Diluted	17,955	17,881

Natural Disasters (Details) - Churchill Downs - Hail [Member] - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2014	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	$ 1.5
Unusual or Infrequent Item, Net of Insurance Proceeds	$ 0.4

Investment in and Advances to Unconsolidated Affiliate (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Dec. 21, 2012 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($) a ft² terminal mi
Investments in and Advances to Affiliates [Line Items]
Income (Loss) from Equity Method Investments		$ 1,057	$ (887)	$ 5,853	$ (1,682)
Payments to Acquire Interest in Joint Venture				9,375	27,000
Miami Valley Gaming and Racing [Member]
Investments in and Advances to Affiliates [Line Items]
Equity Method Investment, Ownership Percentage						50.00%
Equity Method Investments	$ 60,000
Income (Loss) from Equity Method Investments		$ 1,839	$ (572)	6,676	$ (1,365)
Note Payable, Term	6 years
Equity Method Investments, Contingent Payable	$ 10,000
Acres \| a						120
Race Track, Length \| mi						0.625
Square footage of Casino \| ft²						186,000
Equity Method Investments, Facility Cost						$ 212,000
Payments to Acquire Interest in Joint Venture				6,500
Anticipated Payments to Acquire Interest in Joint Venture				$ 8,500
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		5.00%		5.00%
Funded at Closing [Member] \| Miami Valley Gaming and Racing [Member]
Investments in and Advances to Affiliates [Line Items]
Equity Method Investments	10,000
Notes Payable, Other Payables [Member] \| Miami Valley Gaming and Racing [Member]
Investments in and Advances to Affiliates [Line Items]
Equity Method Investments	50,000
Minimum \| Miami Valley Gaming and Racing [Member]
Investments in and Advances to Affiliates [Line Items]
Number of Lottery Terminals \| terminal						1,600
License Fee Payable [Member] \| Notes Payable, Other Payables [Member] \| Miami Valley Gaming and Racing [Member]
Investments in and Advances to Affiliates [Line Items]
Equity Method Investments	$ 25,000

Investment in and Advances to Unconsolidated Affiliate Equity Method Investment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investment-Gaming Revenue	$ 33,365	$ 0	$ 98,928	$ 0
Equity Method Investment-Non-Gaming Revenue	1,289	1,305	4,833	4,509
Equity Method Investment, Summarized Financial Information, Revenue	34,654	1,305	103,761	4,509
Equity Method Investment-Expenses	26,123	1,347	76,387	4,703
Equity Method, Depreciation & Amortization	3,474	101	10,315	114
Equity Method Investment-Pre-Opening Expenses	0	1,001	54	2,422
Equity Method Investment Operating Income Loss	5,057	(1,144)	17,005	(2,730)
Equity Method Investment-Interest	(1,380)	0	(3,654)	0
Equity Method Investment, Summarized Financial Information, Net Income (Loss)	$ 3,677	$ (1,144)	$ 13,351	$ (2,730)

Investment in and Advances to Unconsolidated Affiliate Affiliate Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Investments in and Advances to Affiliates, Affiliate Balance Sheet [Abstract]
Equity Method Investment, Summarized Financial Information, Current Assets	$ 25,882	$ 18,002
Equity Method Investment-Property Plant & Equipment	133,021	151,434
Equity Method Investment, Summarized Financial Information, Noncurrent Assets	80,407	80,665
Equity Method Investment, Summarized Financial Information, Assets	239,310	250,101
Equity Method Investment, Summarized Financial Information, Current Liabilities	14,468	46,966
Equity Method Investment-Long-term Debt, Current Maturities	8,332	8,332
Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities	28,039	32,426	$ 50,000
Investment Affiliate-Other Liabilities	75	75
Equity Method Investment Summarized Financial Information, Equity	188,396	162,302
Equity Method Investment, Summarized Financial Information, Liabilities and Equity	$ 239,310	$ 250,101

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2014	Sep. 30, 2013	Oct. 04, 2012
Income Tax Contingency [Line Items]
Effective Income Tax Rate, Continuing Operations	37.00%	36.00%
Other Assets			$ 2.9
Gross unrecognized tax benefits	$ 0.8
Total amount of unrecognized tax benefits, if recognized, would affect the effective tax rate	$ 0.8

Goodwill And Indefinite-Lived Intangible Assets Impairment Test - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Goodwill [Line Items]
Definite-lived intangible assets, gross carrying amount	$ 76,002	$ 76,002
Definite-lived intangible assets, accumulated amortization	(42,430)	(36,196)
Definite-lived intangible assets, net book value	33,572	39,806
Intangible Assets, Net (Excluding Goodwill)	191,915	198,149
Indefinite-lived intangible assets, gross carrying value	158,343	158,343
Intangible Assets Excluding Goodwill, Gross	$ 234,345	$ 234,345

Fair Value Of Assets And Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net of current maturities	$ 383,391	$ 369,191
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	300,750	305,250
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash	28,003	36,940
Fair Value, Measurements, Recurring \| 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
Unsecured Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net of current maturities	$ 300,000

Long-term Incentive Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
Long-term Incentive Plan (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 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					155,000	92,000
Allocated Share-based Compensation Expense	$ 2,213	$ 5,990	$ 10,567	$ 15,567
Trading Days					20
Share-Based Compensation Arrangements by Share Based Payment Award, Equity Instruments Other than options vested in period	84,500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 3,300		3,300
Omnibus Stock Incentive Plans, 2007 New LTIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 1,300		$ 7,800
Common Stock [Member] \| Maximum
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	20 months
Performance-Based Awards [Member] \| Restricted Stock [Member] \| Churchill 2004 and 2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number					324,000

Earnings Per Common Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Earnings from continuing operations	$ 3,531	$ 9,208	$ 60,164	$ 60,606
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	37	193	623	1,281
Numerator for basic earnings from continuing operations per common share	3,494	9,015	59,541	59,325
Net earnings and comprehensive income	3,531	9,249	60,164	60,605
Net earnings allocated to participating securities	(37)	(195)	(623)	(1,281)
Numerator for basic net earnings per common share	3,494	9,054	59,541	59,324
Income Loss From Continuing Operations, Diluted	3,531	9,208	60,164	60,606
Net Income (Loss) Available to Common Stockholders, Diluted	$ 3,531	$ 9,249	$ 60,164	$ 60,605
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in shares)	17,020	17,328	17,322	17,269
Plus dilutive effect of stock options (in shares)	102	254	167	239
Plus dilutive effect of participating securities (in shares)	181	373	181	373
Diluted (in shares)	17,303	17,955	17,670	17,881
Net earnings (in dollars per share), Basic	$ 0.21	$ 0.52	$ 3.44	$ 3.44
Income (Loss) from Continuing Operations, Per Diluted Share	0.20	0.51	3.40	3.39
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.00	0.01	0.00	0.00
Net earnings (in dollars per share), Diluted	$ 0.20	$ 0.52	$ 3.40	$ 3.39

Share Repurchase (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Apr. 23, 2013
Share Repurchase [Abstract]
Stock Repurchase Program, Authorized Amount				$ 100,000
Stock Repurchased During Period, Shares	691
Stock Repurchased and Retired During Period, Value		$ 61,561	$ 0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 38,400	$ 38,400

Segment Information - Information About Reported Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014 USD ($) Off_Track_Betting_Palors Segments	Sep. 30, 2013 USD ($)	Sep. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)
Segment Reporting Information [Line Items]
Income (Loss) from Equity Method Investments	$ 1,057	$ (887)	$ 5,853	$ (1,682)
Number of Operating Segments \| Segments	4
Net revenues from external customers	$ 173,665	185,496	644,626	616,966
Intercompany net revenues	0	0	0	0
Adjusted Segment EBITDA	33,552	33,056	176,817	160,263
Adjusted Corporate EBITDA	(1,398)	(1,215)	(3,645)	(3,380)
Other Nonrecurring Expense	2,298	0	2,298	0
Insurance Recoveries, Net of Losses	0	0	431	375
Illinois HRE Trust Fund Proceeds	0	4,249	0	4,541
Allocated Share-based Compensation Expense	(2,213)	(5,990)	(10,567)	(15,567)
Pre-Opening Costs	0	(500)	(27)	(1,211)
MVG interest expense, net	(819)	0	(1,956)	0
Depreciation and Amortization	(17,280)	(15,796)	(48,324)	(45,822)
Interest Income (Expense), Net	(5,167)	(1,401)	(15,092)	(4,034)
Income tax provision	(846)	(3,195)	(35,175)	(34,559)
Earnings from continuing operations	3,531	9,208	60,164	60,606
Earnings (loss) from operations	0	41	0	(1)
Net earnings and comprehensive income	$ 3,531	9,249	60,164	60,605
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 [Member]
Segment Reporting Information [Line Items]
Net revenues from external customers	$ 41,055	50,687	231,069	235,887
Intercompany net revenues	2,694	3,193	12,097	10,367
Adjusted Segment EBITDA	(1,229)	(907)	66,600	58,353
Racing Operations Segment [Member] \| Churchill Downs
Segment Reporting Information [Line Items]
Net revenues from external customers	8,021	7,956	128,511	118,534
Intercompany net revenues	678	689	5,851	5,485
Racing Operations Segment [Member] \| Arlington Park
Segment Reporting Information [Line Items]
Net revenues from external customers	26,974	28,473	54,289	57,720
Intercompany net revenues	2,001	2,070	4,795	3,110
Racing Operations Segment [Member] \| Calder
Segment Reporting Information [Line Items]
Net revenues from external customers	786	8,597	18,524	27,908
Intercompany net revenues	0	412	707	917
Racing Operations Segment [Member] \| Fair Grounds
Segment Reporting Information [Line Items]
Net revenues from external customers	5,274	5,661	29,745	31,725
Intercompany net revenues	15	22	744	855
Gaming Segment [Member]
Segment Reporting Information [Line Items]
Income (Loss) from Equity Method Investments	1,839	(572)	6,676	(1,365)
Net revenues from external customers	81,805	79,832	250,318	218,808
Adjusted Segment EBITDA	24,937	20,496	78,362	61,788
Gaming Segment [Member] \| Calder Casinos
Segment Reporting Information [Line Items]
Net revenues from external customers	18,104	19,157	58,560	60,109
Gaming Segment [Member] \| Fair Grounds Slots
Segment Reporting Information [Line Items]
Net revenues from external customers	9,453	9,781	30,823	32,123
Gaming Segment [Member] \| VSI
Segment Reporting Information [Line Items]
Net revenues from external customers	8,190	8,443	25,771	27,449
Gaming Segment [Member] \| Harlows Casino
Segment Reporting Information [Line Items]
Net revenues from external customers	12,197	12,082	38,425	40,533
Gaming Segment [Member] \| Oxford Acquisition [Member]
Segment Reporting Information [Line Items]
Net revenues from external customers	21,887	17,730	58,808	17,730
Gaming Segment [Member] \| Riverwalk Casino
Segment Reporting Information [Line Items]
Net revenues from external customers	11,974	12,639	37,931	40,864
Online Operations
Segment Reporting Information [Line Items]
Income (Loss) from Equity Method Investments	(289)	(393)	(41)	(523)
Net revenues from external customers	46,266	48,522	149,426	143,969
Intercompany net revenues	240	211	714	657
Adjusted Segment EBITDA	11,098	12,998	35,135	38,424
Intersegment Elimination
Segment Reporting Information [Line Items]
Intercompany net revenues	(3,763)	(4,342)	(15,748)	(14,212)
Other Investments Segment [Member]
Segment Reporting Information [Line Items]
Income (Loss) from Equity Method Investments	(493)	78	(782)	206
Net revenues from external customers	4,249	6,135	12,864	17,408
Intercompany net revenues	829	938	2,937	3,188
Adjusted Segment EBITDA	(1,254)	469	(3,280)	1,698
Corporate
Segment Reporting Information [Line Items]
Net revenues from external customers	$ 290	$ 320	$ 949	$ 894

Segment Information - Equity in Earnings (Losses) of Unconsolidated Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in (gain) loss of unconsolidated investments	$ (1,057)	$ 887	$ (5,853)	$ 1,682
Gaming Segment [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in (gain) loss of unconsolidated investments	(1,839)	572	(6,676)	1,365
Online Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in (gain) loss of unconsolidated investments	289	393	41	523
Other Investments Segment [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Equity in (gain) loss of unconsolidated investments	$ 493	$ (78)	$ 782	$ (206)

Segment Information - Total Asset Information For Segments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,332,264		$ 1,352,261
Capital expenditures	48,854	$ 29,858
Racing Operations Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	498,459		513,345
Capital expenditures	33,491	11,801
Gaming Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	618,045		622,038
Capital expenditures	6,629	11,528
Online Operations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	185,507		186,621
Capital expenditures	4,716	4,857
Other Investments Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	30,253		$ 30,257
Capital expenditures	$ 4,018	$ 1,672

Commitments And Contingencies - Loss Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2014	Oct. 04, 2012
Loss Contingencies [Line Items]
Pennsylvania Out-of-state ADW tax	10.00%
Pennsylvania ADW Tax refund	$ 1.9
Other Assets		$ 2.9

Calder Racing Operations (Details) $ in Thousands	3 Months Ended
Calder Racing Operations (Details) $ in Thousands	Sep. 30, 2014 USD ($) terminal	Jun. 30, 2014
Calder Racing [Abstract]
Rate of Non-stakes Purse Supplements Payable	10.00%	12.00%
Severance Costs	$ 2,298
Restructuring and Related Cost, Accelerated Depreciation	1,300
Depreciation	$ 2,300
Barn Stalls \| terminal	430

Subsequent Event (Details) $ in Millions	3 Months Ended
Subsequent Event (Details) $ in Millions	Sep. 30, 2014 USD ($)
Subsequent Event [Line Items]
Asset Impairment Charges	$ 3.2
Saratoga Casino Holdings, LLC [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage	25.00%
Gideon Putnam Hotel and Resort [Member] \| Saratoga Casino Holdings, LLC [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage	50.00%