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Churchill Downs Incorporated (CHDN - Free Report) has inaugurated Terre Haute Casino Resort in Terre Haute, IN, marking its first venture into the state. The $290 million investment boasts a sprawling 400,000 square-foot entertainment complex, featuring 1,000 slot machines, 36 table games and a cutting-edge sportsbook.
The resort's array of regionally inspired bars and restaurants, including Four Cornered Steakhouse and Rockwood Bar & Grill, aim to attract visitors across the Midwest and beyond. Mayor Brandon Sakbun heralds the project as a testament to community leaders' dedication, anticipating a surge in tourism and economic prosperity.
CEO Bill Carstanjen emphasizes the long-term impact of the resort, positioning it as a catalyst for growth in Vigo County and the broader Indiana region. Scheduled to unveil additional amenities, such as a luxury hotel and rooftop lounge, on May 15, 2024, the project has already generated significant employment opportunities, with nearly 1,000 construction jobs and over 550 permanent positions.
With this strategic expansion, CHDN diversifies its portfolio into its 14th state, reinforcing its position as a key player in the gaming and entertainment industry. The company's foray into Indiana capitalizes on the region's burgeoning market and underscores its commitment to delivering on promises made to local communities.
In conclusion, the opening of Terre Haute Casino Resort represents a pivotal moment for CHDN, signaling a promising trajectory for growth and profitability in the dynamic gaming landscape. In the past six months, shares of the Zacks Rank #3 (Hold) company have gained 9.3% compared with the industry’s growth of 20.2%.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 26.4% on average. Shares of RCL have surged 118.2% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) indicates a rise of 14.7% and 47.9%, respectively, from the year-ago levels. You can see the complete list of today’s Zacks #1 Rank stocks here.
Trip.com Group Limited (TCOM - Free Report) presently carries a Zacks Rank #2 (Buy). TCOM has a trailing four-quarter earnings surprise of 53.1%, on average. Shares of TCOM have gained 27.4% in the past year.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 18.2% and 1.8%, respectively, from the year-ago levels.
Hyatt Hotels Corporation (H - Free Report) carries a Zacks Rank #2 (Buy) at present. It has a trailing four-quarter earnings surprise of 17.8% on average. Shares of H have soared 44.1% in the past year.
The Zacks Consensus Estimate for H’s 2024 sales and EPS indicates a rise of 3.5% and 25%, respectively, from the year-ago levels.
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Churchill Downs (CHDN) Launches Terre Haute Casino Resort
Churchill Downs Incorporated (CHDN - Free Report) has inaugurated Terre Haute Casino Resort in Terre Haute, IN, marking its first venture into the state. The $290 million investment boasts a sprawling 400,000 square-foot entertainment complex, featuring 1,000 slot machines, 36 table games and a cutting-edge sportsbook.
The resort's array of regionally inspired bars and restaurants, including Four Cornered Steakhouse and Rockwood Bar & Grill, aim to attract visitors across the Midwest and beyond. Mayor Brandon Sakbun heralds the project as a testament to community leaders' dedication, anticipating a surge in tourism and economic prosperity.
CEO Bill Carstanjen emphasizes the long-term impact of the resort, positioning it as a catalyst for growth in Vigo County and the broader Indiana region. Scheduled to unveil additional amenities, such as a luxury hotel and rooftop lounge, on May 15, 2024, the project has already generated significant employment opportunities, with nearly 1,000 construction jobs and over 550 permanent positions.
With this strategic expansion, CHDN diversifies its portfolio into its 14th state, reinforcing its position as a key player in the gaming and entertainment industry. The company's foray into Indiana capitalizes on the region's burgeoning market and underscores its commitment to delivering on promises made to local communities.
In conclusion, the opening of Terre Haute Casino Resort represents a pivotal moment for CHDN, signaling a promising trajectory for growth and profitability in the dynamic gaming landscape. In the past six months, shares of the Zacks Rank #3 (Hold) company have gained 9.3% compared with the industry’s growth of 20.2%.
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Key Picks
Some better-ranked stocks in the Zacks Consumer Discretionary sector are as follows:
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 26.4% on average. Shares of RCL have surged 118.2% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) indicates a rise of 14.7% and 47.9%, respectively, from the year-ago levels. You can see the complete list of today’s Zacks #1 Rank stocks here.
Trip.com Group Limited (TCOM - Free Report) presently carries a Zacks Rank #2 (Buy). TCOM has a trailing four-quarter earnings surprise of 53.1%, on average. Shares of TCOM have gained 27.4% in the past year.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 18.2% and 1.8%, respectively, from the year-ago levels.
Hyatt Hotels Corporation (H - Free Report) carries a Zacks Rank #2 (Buy) at present. It has a trailing four-quarter earnings surprise of 17.8% on average. Shares of H have soared 44.1% in the past year.
The Zacks Consensus Estimate for H’s 2024 sales and EPS indicates a rise of 3.5% and 25%, respectively, from the year-ago levels.