could revise<\/a>\u00a0their price estimates upwards on Churchill Downs.<\/p>\n<\/div>\nMcGill said Rivers Casino being well-positioned to withstand new competition in the Chicago-area gaming market is not surprising because the property is managed by Chicago-based Rush Street and Neil Bluhm. Bluhm, a Chicago casino and real estate mogul, was reportedly active in crafting the new Illinois gaming bill.<\/p>\n
Plenty of Benefits<\/b><\/h2>\n
The Prairie State’s newly liberalized gambling laws could potentially benefit the Rivers Casino on multiple fronts, according to McGill.<\/p>\n
The analyst sees the state’s new tax schedule as \u201cparticularly beneficial to Rivers\u201d while noting the venue will be able to increase the number of gaming positions offered to patrons to 2,000 from the current amount of 1,200.<\/p>\n
McGill also said the Illinois bill will allow Churchill Downs to install 1,200 gaming positions at\u00a0Arlington International Racecourse. Located in Arlington Heights, Illinois, Arlington International is home to a 1 1\/8-mile main track, a one-mile turf course, and a five-furlong training track.<\/span><\/p>\nOn Wednesday, shares of Churchill Downs h<\/span>it an all-time high, making it\u00a0<\/span>one of just 190 stocks trading in the US to accomplish that feat yesterday. There are about 4,000 stocks trading on the major <\/span>American<\/span>\u00a0exchanges.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Shares of Churchill Downs Inc. (NASDAQ: CHDN) surged 6.1 percent Wednesday to close at $109.07 with volume more than double its daily average after Tesley Advisory Group analyst Brian McGill upgraded the stock, noting the company stands to benefit from the recently passed gaming legislation in Illinois. McGill upgraded shares of the casino and racetrack […]<\/p>\n","protected":false},"author":46,"featured_media":106431,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,14577,13,18],"tags":[],"acf":[],"yoast_head":"\n
Churchill Downs Stock Upgraded as Analyst Sees Benefits from Illinois Gaming Bill<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n