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Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers REVENUE FROM CONTRACTS WITH CUSTOMERS
Performance Obligations
As of December 31, 2022, our Live and Historical Racing segment had remaining performance obligations on contracts with a duration greater than one year relating to television rights, sponsorships, personal seat licenses, and admissions, with an aggregate transaction price of $154.4 million. The revenue we expect to recognize on these remaining performance obligations is $46.0 million in 2023, $39.6 million in 2024, $30.5 million in 2025, and the remainder thereafter.
As of December 31, 2022, our remaining performance obligations on contracts with a duration greater than one year in segments other than Live and Historical Racing were not material.
Contract Assets and Contract Liabilities
Contract assets were not material as of December 31, 2022 and 2021.
Contract liabilities were $58.7 million as of December 31, 2022 and $64.9 million as of December 31, 2021. Contract liabilities are included in current deferred revenue, non-current deferred revenue, and accrued expense and other current liabilities in the accompanying Consolidated Balance Sheets. Contract liabilities primarily relate to our Live and Historical Racing segment. The decrease in contract liabilities from December 31, 2021 to December 31, 2022 was due to the recognition of revenue for fulfilled performance obligations. We recognized $49.9 million of revenue during the year ended December 31, 2022 that was included in the contract liabilities balance on December 31, 2021. We recognized $33.0 million of revenue during the year ended December 31, 2021 that was included in the contract liabilities balance on December 31, 2020.
Disaggregation of Revenue
The Company has included its disaggregated revenue disclosures as follows: 
•For the Live and Historical Racing segment, revenue is disaggregated between Churchill Downs Racetrack and historical racing properties given that our racing facilities revenues primarily revolve around live racing events while our historical racing properties revenues primarily revolve around historical racing. This segment is also disaggregated by location given the geographic economic factors that affect the revenue of service offerings. Within the Live and Historical racing segment, revenue is further disaggregated between live and simulcast racing, historical racing, racing event-related services, and other services.
•For the TwinSpires segment, revenue is disaggregated between live and simulcast racing, gaming, and other services.
•For the Gaming segment, revenue is disaggregated by location given the geographic economic factors that affect the revenue of Gaming service offerings. Within the Gaming segment, revenue is further disaggregated between live and simulcast racing, racing event-related services, gaming, and other services.
We believe that these disclosures depict how the amount, nature, timing, and uncertainty of cash flows are affected by economic factors. The tables below present net revenue from external customers and intercompany revenue from each of our segments:
 Years Ended December 31,
(in millions)202220212020
Net revenue from external customers:
Live and Historical Racing:
Churchill Downs Racetrack$196.8 $128.1 $63.3 
Louisville169.9 154.3 79.5 
Northern Kentucky46.1 26.0 10.2 
Southwestern Kentucky131.4 100.7 16.6 
Western Kentucky4.5 — — 
Virginia62.4 — — 
New Hampshire3.5 — — 
Total Live and Historical Racing$614.6 $409.1 $169.6 
TwinSpires:$436.4 $451.4 $430.1 
Gaming:
Florida$106.2 $100.0 $51.8 
Iowa15.6 — — 
Louisiana140.8 133.6 97.6 
Maine114.4 99.8 44.9 
Maryland105.3 100.6 60.2 
Mississippi101.8 117.3 87.0 
New York30.9 — — 
Pennsylvania140.9 144.1 93.8 
Total Gaming$755.9 $695.4 $435.3 
All Other2.9 41.3 19.0 
Net revenue from external customers$1,809.8 $1,597.2 $1,054.0 
Intercompany net revenues:
Live and Historical Racing$31.8 $21.5 $19.2 
TwinSpires5.26.4 5.5 
Gaming5.9 3.0 2.5 
All Other0.4 7.9 7.8 
Eliminations(43.3)(38.8)(35.0)
Intercompany net revenue$— $— $— 
Year Ended December 31, 2022
(in millions)Live and Historical RacingTwinSpiresGamingTotal SegmentsAll OtherTotal
Net revenue from external customers
Pari-mutuel:
Live and simulcast racing$66.8 $367.4 $28.1 $462.3 $— $462.3 
Historical racing(a)
374.1 — 9.8 383.9 — 383.9 
Racing event-related services129.8 — 1.8 131.6 — 131.6 
Gaming(a)
3.5 28.2 647.4 679.1 — 679.1 
Other(a)
40.4 40.8 68.8 150.0 2.9 152.9 
Total$614.6 $436.4 $755.9 $1,806.9 $2.9 $1,809.8 
Year Ended December 31, 2021
(in millions)Live and Historical RacingTwinSpiresGamingTotal SegmentsAll OtherTotal
Net revenue from external customers
Pari-mutuel:
Live and simulcast racing$64.0 $380.7 $28.2 $472.9 $29.7 $502.6 
Historical racing(a)
253.0 — — 253.0 — 253.0 
Racing event-related services68.5 — 1.2 69.7 7.0 76.7 
Gaming(a)
— 34.8 622.0 656.8 — 656.8 
Other(a)
23.6 35.9 44.0 103.5 4.6 108.1 
Total$409.1 $451.4 $695.4 $1,555.9 $41.3 $1,597.2 
Year Ended December 31, 2020
(in millions)Live and Historical RacingTwinSpiresGamingTotal SegmentsAll OtherTotal
Net revenue from external customers
Pari-mutuel:
Live and simulcast racing$46.5 $387.5 $22.9 $456.9 $18.2 $475.1 
Historical racing(a)
93.6 — — 93.6 — 93.6 
Racing event-related services21.0 — 3.4 24.4 0.3 24.7 
Gaming(a)
— 11.3 381.3 392.6 — 392.6 
Other(a)
8.5 31.3 27.7 67.5 0.5 68.0 
Total$169.6 $430.1 $435.3 $1,035.0 $19.0 $1,054.0 
(a)Food and beverage, hotel, and other services furnished to customers for free as an inducement to wager or through the redemption of our customers' loyalty points are recorded at the estimated standalone selling prices in Other revenue with a corresponding offset recorded as a reduction in historical racing pari-mutuel revenue for HRMs or gaming revenue for our casino properties. These amounts were $33.9 million in 2022, $20.9 million in 2021, and $13.1 million in 2020