0000020212-21-000031 | 8-K | XBRL Viewer

Cover	Apr. 20, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Apr. 20, 2021
Entity Registrant Name	Churchill Downs Incorporated
Entity Incorporation, State or Country Code	KY
Entity File Number	001-33998
Entity Tax Identification Number	61-0156015
Entity Address, Address Line One	600 North Hurstbourne Parkway, Suite 400
Entity Address, City or Town	Louisville
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40222
City Area Code	502
Local Phone Number	636-4400
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	CHDN
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000020212

Recast Segment Information - Recast Segment Operating Results (Tables)

Apr. 20, 2021

Accounting Changes and Error Corrections [Abstract]

Net Revenue From External Customers and Intercompany Revenue From Each Operating Segment


	Three Months Ended								Year Ended December 31,
(in millions)	March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		2020		2019
Net revenue:
Live and Historical Racing	$	28.1	$	23.3	$	63.8	$	54.4	$	169.6	$	276.7
TwinSpires	69.1		121.3		127.1		97.0		414.5		295.6
Gaming	145.9		37.3		133.5		118.6		435.3		687.3
All Other	9.8		3.2		13.4		8.2		34.6		70.1
Total net revenue	252.9		185.1		337.8		278.2		1,054.0		1,329.7
Operating expense:
Live and Historical Racing	33.1		33.1		55.7		57.1		179.0		178.8
TwinSpires	50.8		74.7		84.0		66.3		275.8		207.9
Gaming	124.1		45.5		96.2		92.1		357.9		526.0
All Other	14.6		9.6		13.1		10.5		47.8		74.0
Selling, general and administrative expense	24.1		22.4		38.8		29.5		114.8		122.0
Impairment of intangible assets	17.5		—		—		—		17.5		—
Transaction expense, net	0.3		0.2		0.5		—		1.0		5.3
Total operating expense	264.5		185.5		288.3		255.5		993.8		1,114.0
Operating (loss) income	$	(11.6)	$	(0.4)	$	49.5	$	22.7	$	60.2	$	215.7


	Three Months Ended								Year Ended December 31,
(in millions)	March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		2020		2019
Net revenue from external customers:
Live and Historical Racing:
Churchill Downs Racetrack	$	1.9	$	15.6	$	34.9	$	10.9	$	63.3	$	187.6
Derby City Gaming	21.6		7.7		25.9		24.3		79.5		86.6
Oak Grove	—		—		2.4		14.2		16.6		—
Turfway Park	4.6		—		0.6		1.9		7.1		2.5
Newport	—		—		—		3.1		3.1		—
Total Live and Historical Racing	28.1		23.3		63.8		54.4		169.6		276.7
TwinSpires:
Horse Racing	66.6		119.9		124.0		92.7		403.2		289.9
Sports and Casino	2.5		1.4		3.1		4.3		11.3		5.7
Total TwinSpires	69.1		121.3		127.1		97.0		414.5		295.6
Gaming:
Fair Grounds and VSI	31.6		11.1		27.9		27.0		97.6		123.0
Presque Isle	27.0		1.9		27.5		16.7		73.1		137.5
Calder	21.8		5.7		6.5		17.8		51.8		99.8
Oxford	20.1		0.1		12.2		12.5		44.9		101.7
Ocean Downs	14.8		3.1		24.3		18.0		60.2		85.9
Riverwalk	12.0		7.4		15.2		11.7		46.3		56.1
Harlow’s	11.3		5.7		12.7		11.0		40.7		54.0
Lady Luck Nemacolin	7.3		2.3		7.2		3.9		20.7		29.3
Total Gaming	145.9		37.3		133.5		118.6		435.3		687.3
All Other	9.8		3.2		13.4		8.2		34.6		70.1
Net revenue from external customers	$	252.9	$	185.1	$	337.8	$	278.2	$	1,054.0	$	1,329.7


(in millions)	Three Months Ended								Year Ended December 31,
Intercompany net revenue:	March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		2020		2019
Live and Historical Racing	$	1.0	$	7.0	$	7.3	$	3.9	$	19.2	$	15.5
TwinSpires	0.3		0.4		0.5		0.3		1.5		1.1
Gaming	1.5		—		0.2		0.8		2.5		2.4
All Other	2.4		2.8		3.8		2.8		11.8		11.3
Eliminations	(5.2)		(10.2)		(11.8)		(7.8)		(35.0)		(30.3)
Intercompany net revenue	$	—	$	—	$	—	$	—	$	—	$	—


	Year Ended December 31, 2020
(in millions)	Live and Historical Racing		TwinSpires		Gaming		All Other		Eliminations		Total
Net revenue	$	188.8	$	416.0	$	437.8	$	46.4	$	(35.0)	$	1,054.0

Taxes and purses	(64.1)		(25.1)		(171.6)		(7.5)		—		(268.3)
Marketing and advertising	(6.2)		(16.5)		(7.5)		(0.2)		0.2		(30.2)
Salaries and benefits	(32.5)		(13.0)		(75.9)		(17.4)		—		(138.8)
Content expense	(1.5)		(202.7)		(3.5)		(3.7)		33.0		(178.4)
Selling, general and administrative expense	(8.7)		(8.8)		(25.4)		(43.9)		1.5		(85.3)
Other operating expense	(36.8)		(37.1)		(59.7)		(12.3)		0.3		(145.6)
Other income	0.1		0.1		78.9		—		—		79.1
Adjusted EBITDA	$	39.1	$	112.9	$	173.1	$	(38.6)	$	—	$	286.5


	Year Ended December 31, 2019
(in millions)	Live and Historical Racing		TwinSpires		Gaming		All Other		Eliminations		Total
Net revenue	$	292.2	$	296.7	$	689.7	$	81.4	$	(30.3)	$	1,329.7

Taxes and purses	(68.7)		(16.2)		(269.4)		(15.4)		—		(369.7)
Marketing and advertising	(7.1)		(12.3)		(21.4)		(1.3)		0.4		(41.7)
Salaries and benefits	(32.8)		(11.4)		(103.3)		(23.7)		—		(171.2)
Content expense	(2.6)		(152.2)		(5.3)		(7.9)		28.6		(139.4)
Selling, general and administrative expense	(8.3)		(7.1)		(29.1)		(46.7)		1.0		(90.2)
Other operating expense	(37.3)		(28.2)		(83.6)		(18.3)		0.3		(167.1)
Other income	0.2		—		100.3		0.5		—		101.0
Adjusted EBITDA	$	135.6	$	69.3	$	277.9	$	(31.4)	$	—	$	451.4


	Three Months Ended March 31, 2020
(in millions)	Live and Historical Racing		TwinSpires		Gaming		All Other		Eliminations		Total
Net revenue	$	29.1	$	69.4	$	147.4	$	12.2	$	(5.2)	$	252.9

Taxes and purses	(9.5)		(4.3)		(58.7)		(3.2)		—		(75.7)
Marketing and advertising	(1.2)		(3.5)		(5.3)		(0.1)		0.2		(9.9)
Salaries and benefits	(7.2)		(3.5)		(29.5)		(5.1)		—		(45.3)
Content expense	(0.7)		(32.6)		(1.0)		(1.3)		4.7		(30.9)
Selling, general and administrative expense	(1.7)		(1.4)		(6.7)		(8.7)		0.2		(18.3)
Other operating expense	(7.8)		(8.1)		(19.5)		(3.4)		0.1		(38.7)
Other income	—		—		21.2		—		—		21.2
Adjusted EBITDA	$	1.0	$	16.0	$	47.9	$	(9.6)	$	—	$	55.3


	Three Months Ended June 30, 2020
(in millions)	Live and Historical Racing		TwinSpires		Gaming		All Other		Eliminations		Total
Net revenue	$	30.3	$	121.7	$	37.3	$	6.0	$	(10.2)	$	185.1

Taxes and purses	(14.0)		(6.7)		(14.3)		(1.6)		—		(36.6)
Marketing and advertising	(0.3)		(2.9)		(0.4)		—		—		(3.6)
Salaries and benefits	(5.3)		(3.0)		(9.0)		(3.0)		—		(20.3)
Content expense	(0.1)		(59.1)		(0.4)		(0.1)		9.7		(50.0)
Selling, general and administrative expense	(1.2)		(1.7)		(3.9)		(9.0)		0.5		(15.3)
Other operating expense	(5.8)		(9.7)		(11.0)		(2.9)		—		(29.4)
Other income	—		0.1		(0.1)		0.2		—		0.2
Adjusted EBITDA	$	3.6	$	38.7	$	(1.8)	$	(10.4)	$	—	$	30.1

Schedule of Segment Reporting Information


	Three Months Ended September 30, 2020
(in millions)	Live and Historical Racing		TwinSpires		Gaming		All Other		Eliminations		Total
Net revenue	$	71.1	$	127.6	$	133.7	$	17.2	$	(11.8)	$	337.8

Taxes and purses	(20.4)		(8.2)		(51.5)		(1.0)		—		(81.1)
Marketing and advertising	(2.7)		(6.9)		(0.6)		(0.1)		—		(10.3)
Salaries and benefits	(8.8)		(3.1)		(19.1)		(5.2)		—		(36.2)
Content expense	(0.2)		(62.7)		(1.2)		(0.9)		11.2		(53.8)
Selling, general and administrative expense	(2.8)		(3.9)		(8.2)		(14.8)		0.5		(29.2)
Other operating expense	(12.1)		(10.2)		(14.3)		(4.3)		0.1		(40.8)
Other income	—		—		35.9		(0.4)		—		35.5
Adjusted EBITDA	$	24.1	$	32.6	$	74.7	$	(9.5)	$	—	$	121.9


	Three Months Ended December 31, 2020
(in millions)	Live and Historical Racing		TwinSpires		Gaming		All Other		Eliminations		Total
Net revenue	$	58.3	$	97.3	$	119.4	$	11.0	$	(7.8)	$	278.2

Taxes and purses	(20.2)		(5.9)		(47.1)		(1.7)		—		(74.9)
Marketing and advertising	(2.0)		(3.2)		(1.2)		—		—		(6.4)
Salaries and benefits	(11.2)		(3.4)		(18.3)		(4.1)		—		(37.0)
Content expense	(0.5)		(48.3)		(0.9)		(1.4)		7.4		(43.7)
Selling, general and administrative expense	(3.0)		(1.8)		(6.6)		(11.4)		0.3		(22.5)
Other operating expense	(11.1)		(9.1)		(14.9)		(1.7)		0.1		(36.7)
Other income	0.1		—		21.9		0.2		—		22.2
Adjusted EBITDA	$	10.4	$	25.6	$	52.3	$	(9.1)	$	—	$	79.2


	Three Months Ended								Year Ended December 31,
	March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		2020		2019
(in millions)
Comprehensive (loss) income	$	(23.4)	$	(118.8)	$	43.2	$	17.1	$	(81.9)	$	137.5

Net income (loss) and comprehensive income (loss) attributable to CDI
Net loss attributable to noncontrolling interest	0.1		—		0.1		—		0.2		0.3
Net (loss) income before noncontrolling interest	(23.5)		(118.8)		43.1		17.1		(82.1)		137.2
Loss (income) from discontinued operations, net of tax	0.9		95.2		—		(0.7)		95.4		2.4
(Loss) income from continuing operations, net of tax	(22.6)		(23.6)		43.1		16.4		13.3		139.6

Additions:
Depreciation and amortization	22.0		22.1		22.4		26.4		92.9		96.4
Interest expense	19.3		20.3		19.7		20.7		80.0		70.9
Income tax (benefit) provision	(11.6)		(7.9)		13.9		0.3		(5.3)		56.8
EBITDA	$	7.1	$	10.9	$	99.1	$	63.8	$	180.9	363.7

Adjustments to EBITDA:
Selling, general and administrative:
Stock-based compensation expense	$	4.3	$	6.1	$	6.9	$	6.4	$	23.7	23.8
Legal reserves	—		—		—		—		—		3.6
Other charges	—		(0.1)		0.8		0.1		0.8		0.4
Pre-opening expense and other expense	1.7		1.9		6.2		1.4		11.2		5.1
Other income, expense:
Interest, depreciation and amortization expense related to equity investments	9.5		9.8		9.9		9.3		38.5		32.6
Changes in fair value of Rivers Des Plaines' interest rate swaps	14.9		1.3		(1.5)		(1.8)		12.9		12.4
Rivers Des Plaines' legal reserves and transaction costs	—		—		—		—		—		4.7
Other	—		—		—		—		—		(0.2)
Transaction expense, net	0.3		0.2		0.5		—		1.0		5.3
Impairment of tangible and other intangible assets	17.5		—		—		—		17.5		—
Total adjustments to EBITDA	48.2		19.2		22.8		15.4		105.6		87.7
Adjusted EBITDA	$	55.3	$	30.1	$	121.9	$	79.2	$	286.5	$	451.4

Adjusted EBITDA by segment:
Live and Historical Racing	$	1.0	$	3.6	$	24.1	$	10.4	$	39.1	$	135.6
TwinSpires	16.0		38.7		32.6		25.6		112.9		69.3
Gaming	47.9		(1.8)		74.7		52.3		173.1		277.9
Total segment Adjusted EBITDA	64.9		40.5		131.4		88.3		325.1		482.8
All Other	(9.6)		(10.4)		(9.5)		(9.1)		(38.6)		(31.4)
Total Adjusted EBITDA	$	55.3	$	30.1	$	121.9	$	79.2	$	286.5	$	451.4

Recast Segment Information - Recast Segment Operating Results (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net revenue	$ 278.2	$ 337.8	$ 185.1	$ 252.9	$ 1,054.0	$ 1,329.7
Selling, general and administrative expense	29.5	38.8	22.4	24.1	114.8	122.0
Impairment of intangible assets	0.0	0.0	0.0	17.5	17.5	0.0
Transaction expense, net	0.0	0.5	0.2	0.3	1.0	5.3
Total operating expense	255.5	288.3	185.5	264.5	993.8	1,114.0
Operating (loss) income	22.7	49.5	(0.4)	(11.6)	60.2	215.7
Live and Historical Racing
Segment Reporting Information [Line Items]
Net revenue	54.4	63.8	23.3	28.1	169.6	276.7
Operating expenses	57.1	55.7	33.1	33.1	179.0	178.8
TwinSpires
Segment Reporting Information [Line Items]
Net revenue	97.0	127.1	121.3	69.1	414.5	295.6
Operating expenses	66.3	84.0	74.7	50.8	275.8	207.9
Gaming
Segment Reporting Information [Line Items]
Net revenue	118.6	133.5	37.3	145.9	435.3	687.3
Operating expenses	92.1	96.2	45.5	124.1	357.9	526.0
All Other
Segment Reporting Information [Line Items]
Net revenue	8.2	13.4	3.2	9.8	34.6	70.1
Operating expenses	$ 10.5	$ 13.1	$ 9.6	$ 14.6	$ 47.8	$ 74.0

Recast Segment Information - Recast Segment Revenue (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net revenue from external customers	$ 278.2	$ 337.8	$ 185.1	$ 252.9	$ 1,054.0	$ 1,329.7
Intercompany net revenue	0.0	0.0	0.0	0.0	0.0	0.0
Operating Segments \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	278.2	337.8	185.1	252.9	1,054.0	1,329.7
Operating Segments \| Live and Historical Racing
Segment Reporting Information [Line Items]
Net revenue from external customers	58.3	71.1	30.3	29.1	188.8	292.2
Intercompany net revenue	3.9	7.3	7.0	1.0	19.2	15.5
Operating Segments \| Live and Historical Racing \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	54.4	63.8	23.3	28.1	169.6	276.7
Operating Segments \| TwinSpires
Segment Reporting Information [Line Items]
Net revenue from external customers	97.3	127.6	121.7	69.4	416.0	296.7
Intercompany net revenue	0.3	0.5	0.4	0.3	1.5	1.1
Operating Segments \| TwinSpires \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	97.0	127.1	121.3	69.1	414.5	295.6
Operating Segments \| Gaming
Segment Reporting Information [Line Items]
Net revenue from external customers	119.4	133.7	37.3	147.4	437.8	689.7
Intercompany net revenue	0.8	0.2	0.0	1.5	2.5	2.4
Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	118.6	133.5	37.3	145.9	435.3	687.3
All Other
Segment Reporting Information [Line Items]
Net revenue from external customers	11.0	17.2	6.0	12.2	46.4	81.4
Intercompany net revenue	2.8	3.8	2.8	2.4	11.8	11.3
All Other \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	8.2	13.4	3.2	9.8	34.6	70.1
Eliminations
Segment Reporting Information [Line Items]
Net revenue from external customers	(7.8)	(11.8)	(10.2)	(5.2)	(35.0)	(30.3)
Intercompany net revenue	(7.8)	(11.8)	(10.2)	(5.2)	(35.0)	(30.3)
Churchill Downs Racetrack \| Operating Segments \| Live and Historical Racing \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	10.9	34.9	15.6	1.9	63.3	187.6
Derby City Gaming \| Operating Segments \| Live and Historical Racing \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	24.3	25.9	7.7	21.6	79.5	86.6
Oak Grove \| Operating Segments \| Live and Historical Racing \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	14.2	2.4	0.0	0.0	16.6	0.0
Turfway Park \| Operating Segments \| Live and Historical Racing \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	1.9	0.6	0.0	4.6	7.1	2.5
Newport \| Operating Segments \| Live and Historical Racing \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	3.1	0.0	0.0	0.0	3.1	0.0
Horse Racing \| Operating Segments \| TwinSpires \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	92.7	124.0	119.9	66.6	403.2	289.9
Sports and Casino \| Operating Segments \| TwinSpires \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	4.3	3.1	1.4	2.5	11.3	5.7
Fair Grounds and VSI \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	27.0	27.9	11.1	31.6	97.6	123.0
Presque Isle \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	16.7	27.5	1.9	27.0	73.1	137.5
Calder \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	17.8	6.5	5.7	21.8	51.8	99.8
Oxford \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	12.5	12.2	0.1	20.1	44.9	101.7
Ocean Downs \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	18.0	24.3	3.1	14.8	60.2	85.9
Riverwalk \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	11.7	15.2	7.4	12.0	46.3	56.1
Harlow’s \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	11.0	12.7	5.7	11.3	40.7	54.0
Lady Luck Nemacolin \| Operating Segments \| Gaming \| External Customer
Segment Reporting Information [Line Items]
Net revenue from external customers	$ 3.9	$ 7.2	$ 2.3	$ 7.3	$ 20.7	$ 29.3

Recast Segment Information - Schedule of Recast Adjusted EBITDA by Segment (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net revenue	$ 278.2	$ 337.8	$ 185.1	$ 252.9	$ 1,054.0	$ 1,329.7
Taxes and purses	(74.9)	(81.1)	(36.6)	(75.7)	(268.3)	(369.7)
Marketing and advertising	(6.4)	(10.3)	(3.6)	(9.9)	(30.2)	(41.7)
Salaries and benefits	(37.0)	(36.2)	(20.3)	(45.3)	(138.8)	(171.2)
Content expense	(43.7)	(53.8)	(50.0)	(30.9)	(178.4)	(139.4)
Selling, general and administrative expense	(22.5)	(29.2)	(15.3)	(18.3)	(85.3)	(90.2)
Other operating expense	(36.7)	(40.8)	(29.4)	(38.7)	(145.6)	(167.1)
Other income	22.2	35.5	0.2	21.2	79.1	101.0
Adjusted EBITDA	79.2	121.9	30.1	55.3	286.5	451.4
Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	88.3	131.4	40.5	64.9	325.1	482.8
All Other
Segment Reporting Information [Line Items]
Net revenue	11.0	17.2	6.0	12.2	46.4	81.4
Taxes and purses	(1.7)	(1.0)	(1.6)	(3.2)	(7.5)	(15.4)
Marketing and advertising	0.0	(0.1)	0.0	(0.1)	(0.2)	(1.3)
Salaries and benefits	(4.1)	(5.2)	(3.0)	(5.1)	(17.4)	(23.7)
Content expense	(1.4)	(0.9)	(0.1)	(1.3)	(3.7)	(7.9)
Selling, general and administrative expense	(11.4)	(14.8)	(9.0)	(8.7)	(43.9)	(46.7)
Other operating expense	(1.7)	(4.3)	(2.9)	(3.4)	(12.3)	(18.3)
Other income	0.2	(0.4)	0.2	0.0	0.0	0.5
Adjusted EBITDA	(9.1)	(9.5)	(10.4)	(9.6)	(38.6)	(31.4)
Eliminations
Segment Reporting Information [Line Items]
Net revenue	(7.8)	(11.8)	(10.2)	(5.2)	(35.0)	(30.3)
Taxes and purses	0.0	0.0	0.0	0.0	0.0	0.0
Marketing and advertising	0.0	0.0	0.0	0.2	0.2	0.4
Salaries and benefits	0.0	0.0	0.0	0.0	0.0	0.0
Content expense	7.4	11.2	9.7	4.7	33.0	28.6
Selling, general and administrative expense	0.3	0.5	0.5	0.2	1.5	1.0
Other operating expense	0.1	0.1	0.0	0.1	0.3	0.3
Other income	0.0	0.0	0.0	0.0	0.0	0.0
Adjusted EBITDA	0.0	0.0	0.0	0.0	0.0	0.0
Live and Historical Racing \| Operating Segments
Segment Reporting Information [Line Items]
Net revenue	58.3	71.1	30.3	29.1	188.8	292.2
Taxes and purses	(20.2)	(20.4)	(14.0)	(9.5)	(64.1)	(68.7)
Marketing and advertising	(2.0)	(2.7)	(0.3)	(1.2)	(6.2)	(7.1)
Salaries and benefits	(11.2)	(8.8)	(5.3)	(7.2)	(32.5)	(32.8)
Content expense	(0.5)	(0.2)	(0.1)	(0.7)	(1.5)	(2.6)
Selling, general and administrative expense	(3.0)	(2.8)	(1.2)	(1.7)	(8.7)	(8.3)
Other operating expense	(11.1)	(12.1)	(5.8)	(7.8)	(36.8)	(37.3)
Other income	0.1	0.0	0.0	0.0	0.1	0.2
Adjusted EBITDA	10.4	24.1	3.6	1.0	39.1	135.6
TwinSpires \| Operating Segments
Segment Reporting Information [Line Items]
Net revenue	97.3	127.6	121.7	69.4	416.0	296.7
Taxes and purses	(5.9)	(8.2)	(6.7)	(4.3)	(25.1)	(16.2)
Marketing and advertising	(3.2)	(6.9)	(2.9)	(3.5)	(16.5)	(12.3)
Salaries and benefits	(3.4)	(3.1)	(3.0)	(3.5)	(13.0)	(11.4)
Content expense	(48.3)	(62.7)	(59.1)	(32.6)	(202.7)	(152.2)
Selling, general and administrative expense	(1.8)	(3.9)	(1.7)	(1.4)	(8.8)	(7.1)
Other operating expense	(9.1)	(10.2)	(9.7)	(8.1)	(37.1)	(28.2)
Other income	0.0	0.0	0.1	0.0	0.1	0.0
Adjusted EBITDA	25.6	32.6	38.7	16.0	112.9	69.3
Gaming \| Operating Segments
Segment Reporting Information [Line Items]
Net revenue	119.4	133.7	37.3	147.4	437.8	689.7
Taxes and purses	(47.1)	(51.5)	(14.3)	(58.7)	(171.6)	(269.4)
Marketing and advertising	(1.2)	(0.6)	(0.4)	(5.3)	(7.5)	(21.4)
Salaries and benefits	(18.3)	(19.1)	(9.0)	(29.5)	(75.9)	(103.3)
Content expense	(0.9)	(1.2)	(0.4)	(1.0)	(3.5)	(5.3)
Selling, general and administrative expense	(6.6)	(8.2)	(3.9)	(6.7)	(25.4)	(29.1)
Other operating expense	(14.9)	(14.3)	(11.0)	(19.5)	(59.7)	(83.6)
Other income	21.9	35.9	(0.1)	21.2	78.9	100.3
Adjusted EBITDA	$ 52.3	$ 74.7	$ (1.8)	$ 47.9	$ 173.1	$ 277.9

Recast Segment Information - Reconciliation of Comprehensive Income to Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Comprehensive (loss) income	$ 17.1	$ 43.2	$ (118.8)	$ (23.4)	$ (81.9)	$ 137.5
Net loss attributable to noncontrolling interest	0.0	0.1	0.0	0.1	0.2	0.3
Net (loss) income before noncontrolling interest	17.1	43.1	(118.8)	(23.5)	(82.1)	137.2
Loss (income) from discontinued operations, net of tax	(0.7)	0.0	95.2	0.9	95.4	2.4
(Loss) income from continuing operations, net of tax	16.4	43.1	(23.6)	(22.6)	13.3	139.6
Depreciation and amortization	26.4	22.4	22.1	22.0	92.9	96.4
Interest expense	20.7	19.7	20.3	19.3	80.0	70.9
Income tax (benefit) provision	0.3	13.9	(7.9)	(11.6)	(5.3)	56.8
EBITDA	63.8	99.1	10.9	7.1	180.9	363.7
Stock-based compensation expense	6.4	6.9	6.1	4.3	23.7	23.8
Legal reserves	0.0	0.0	0.0	0.0	0.0	3.6
Other charges	0.1	0.8	(0.1)	0.0	0.8	0.4
Pre-opening expense and other expense	1.4	6.2	1.9	1.7	11.2	5.1
Interest, depreciation and amortization expense related to equity investments	9.3	9.9	9.8	9.5	38.5	32.6
Changes in fair value of Rivers Des Plaines' interest rate swaps	(1.8)	(1.5)	1.3	14.9	12.9	12.4
Rivers Des Plaines' legal reserves and transaction costs	0.0	0.0	0.0	0.0	0.0	4.7
Other	0.0	0.0	0.0	0.0	0.0	(0.2)
Transaction expense, net	0.0	0.5	0.2	0.3	1.0	5.3
Impairment of tangible and other intangible assets	0.0	0.0	0.0	17.5	17.5	0.0
Total adjustments to EBITDA	15.4	22.8	19.2	48.2	105.6	87.7
Adjusted EBITDA	79.2	121.9	30.1	55.3	286.5	451.4
Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	88.3	131.4	40.5	64.9	325.1	482.8
Operating Segments \| Live and Historical Racing
Segment Reporting Information [Line Items]
Adjusted EBITDA	10.4	24.1	3.6	1.0	39.1	135.6
Operating Segments \| TwinSpires
Segment Reporting Information [Line Items]
Adjusted EBITDA	25.6	32.6	38.7	16.0	112.9	69.3
Operating Segments \| Gaming
Segment Reporting Information [Line Items]
Adjusted EBITDA	52.3	74.7	(1.8)	47.9	173.1	277.9
All Other
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ (9.1)	$ (9.5)	$ (10.4)	$ (9.6)	$ (38.6)	$ (31.4)