We certainly don't want to pick on just CHDN.
Same time line comparison. YTD and 5Y

https://www.google.com/finance/beta/quote/DKNG:NASDAQ?window=YTD
https://www.google.com/finance/beta/quote/DKNG:NASDAQ?window=5Y

On another Note Churchill has retired $1.9B of Stock over the last 10 years via Share repurchases. The company only has a $5.93B Market Cap. With all this the Stock should be UP 50% not down 15%.

Last year they retired $425,000,000 of Stock alone while adding $300,000,000 of Debt over the last 3 Fiscal Years. Why aren't they paying down debt instead borrowing to retire stock.

You have $5.1B of Debt on your books that is leveraged against all the intangibles on the Books like the $80M they just gave for the naming Rights of the Preakness and a Market Cap of only $5.93B. And a planned $1.0B multi year capital expansion. I am glad I am not your Lender

I am playing less and less. Didn't go to Gulfstream once the entire meet. My bucket of popcorn is buttered and salted. I'm going to sit back and enjoy the scene as it unfolds.....