Churchill Downs and VICI Properties announce new share repurchase programs

Churchill Downs and VICI Properties have both announced new share repurchase programs in conjunction with their third-quarter earnings releases.

Churchill Downs $750m program

The racetrack operator said its board of directors signed off on a $750 million repurchase plan. The new share repurchase program replaces the prior $500 million program that was authorized in July 2025.

The new program includes and is not in addition to the $306 million remaining under the prior authorization as of the close of trading on October 27, 2026. The company said it returned $48 million to investors during the third quarter via share repurchases.

VICI Properties $2bn authorization

On October 27, 2026, VICI’s Board of Directors authorized a share repurchase program for up to $2.0 billion in shares of the company’s common stock, which will expire on September 30, 2029.

The gaming property owner concluded the third quarter with $270.3 million in cash and cash equivalents. VICI also raised its 2026 acquired funds from operations (AFFO) guidance to between $2.69 billion and $2.7 billion.

Share performance

Churchill Downs shares are off 28.3% year-to-date, while VICI shares are down 11.2% year-to-date.