Churchill Downs: Pay

Churchill Downs paid its 5 named executives $36.2M in total in FY2025 (Dec). CEO William C. Carstanjen was paid $19.2M of that.

Pay$100 in the stock at the end of FY20 → $118
CEO pay is from each proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Pay of each named executive

William C. CarstanjenChief Executive Officer
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)Not disclosed
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years
William E. MuddPresident and Chief Operating Officer
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)Not disclosed
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years
Marcia DallExecutive Vice President and Chief Financial Officer
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)Not disclosed
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years
Bradley K. BlackwellExecutive Vice President and General Counsel
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)Not disclosed
FY2022 (Dec)Not disclosed
4 years
Maureen AdamsFormer Executive Vice President, Gaming Operations
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)Not disclosed
FY2022 (Dec)Not disclosed
4 years

CEO pay against the pay peers

In FY2025 (Dec), the median CEO pay of the 6 peers with pay on file was $18.4M. The CEO of Churchill Downs was paid $19.2M, 4% above the median.

  1. 1MGM Resorts International
  2. 2DraftKings
  3. 3Flutter Entertainment
  4. 4Churchill Downs
  5. 5Caesars Entertainment
  6. 6Wynn Resorts
  7. 7Boyd Gaming
  8. 8Aristocrat Leisure LimitedNot disclosed
  9. 9Gaming & Leisure PropertiesNot disclosed
  10. 10Light & Wonder, Inc.Not disclosed
  11. 11PENN Entertainment, Inc., Inc.Not disclosed
  12. 12Red Rock Resorts Inc.Not disclosed

Pay of each named executive comes from the Summary Compensation Table of each proxy statement. Realized pay adds the value of options used and stock that vested. CEO pay of each peer comes from its own Pay versus Performance table.