<SEC-DOCUMENT>0001193125-19-292377.txt : 20191226
<SEC-HEADER>0001193125-19-292377.hdr.sgml : 20191226
<ACCEPTANCE-DATETIME>20191114162403
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-19-292377
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20191114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHURCHILL DOWNS Inc
		CENTRAL INDEX KEY:			0000020212
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-RACING, INCLUDING TRACK OPERATION [7948]
		IRS NUMBER:				610156015
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		600 N. HURSTBOURNE PKWY
		STREET 2:		SUITE 400
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40222
		BUSINESS PHONE:		5026364400

	MAIL ADDRESS:	
		STREET 1:		600 N. HURSTBOURNE PKWY
		STREET 2:		SUITE 400
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHURCHILL DOWNS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g804617g05j95.gif" ALT="LOGO">
 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">November&nbsp;14, 2019 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Doug Jones </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities&nbsp;&amp; Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>RE:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Churchill Downs Incorporated </B></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Form <FONT STYLE="white-space:nowrap">8-K</FONT> Furnished March&nbsp;5, 2019 </B></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;001-33998</FONT> </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Jones: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are in receipt of the letter, dated
October&nbsp;17, 2019, from the staff of the United States Securities and Exchange Commission (the &#147;Staff&#148;) with respect to the above-referenced filing by Churchill Downs Incorporated (the &#147;Company&#148;). We are responding to the
Staff&#146;s comment as set forth below. For ease of reference, we have also set forth the text of the Staff&#146;s comment prior to our response. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Form <FONT STYLE="white-space:nowrap">8-K</FONT> Furnished March&nbsp;5, 2019 </U></I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>General </U></I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B><B><I>1.</I></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B><I>We note you completed the acquisition of Midwest Gaming Holdings, LLC on March&nbsp;5, 2019. Please tell
us how you considered Rule <FONT STYLE="white-space:nowrap">3-05</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> in your determination of whether the financial statements of Midwest Gaming Holdings, LLC were required to be
filed.</I></B><B> </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Response</U></B>: The Company acknowledges the Staff&#146;s comment and notes that we failed to file an
amendment to our March&nbsp;5, 2019 Form <FONT STYLE="white-space:nowrap">8-K</FONT> to provide historical audited financial statements for Midwest Gaming Holdings, LLC (&#147;Midwest Gaming&#148;) and related pro forma financial information, solely
due to improper application of the significance tests associated with Rule <FONT STYLE="white-space:nowrap">3-05</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> and Article 11 of Regulation
<FONT STYLE="white-space:nowrap">S-X</FONT> for an acquired business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Concurrently with the filing of this letter, we are filing an Amendment No.&nbsp;1
to the above-referenced March&nbsp;5, 2019 Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> (&#147;Form <FONT STYLE="white-space:nowrap">8-K/A&#148;),</FONT> which reflects inclusion of the audited consolidated financial statements
of Midwest Gaming and related unaudited pro forma combined financial information in response to the Staff&#146;s comment. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT STYLE="white-space:nowrap">600&nbsp;NORTH&nbsp;HURSTBOURNE&nbsp;PARKWAY,&nbsp;SUITE&nbsp;400&nbsp;&#149;&nbsp;LOUISVILLE,&nbsp;KY&nbsp;40222&nbsp;&#149;&nbsp;502-636-4400&nbsp;&#149;&nbsp;
</FONT><U>www.churchilldownsincorporated.com</U></TD></TR>
</TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company has also enhanced our disclosure controls and procedures to ensure we appropriately apply the
significance tests to determine whether any historical and pro forma financial information for acquired businesses are required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions regarding the foregoing responses or otherwise, please do not hesitate to call me at (502)
<FONT STYLE="white-space:nowrap">636-4837.</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Marcia A. Dall</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Marcia A. Dall</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cc:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stephen Kim, <I>Securities and Exchange Commission</I> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Brad Blackwell, <I>Churchill Downs Incorporated</I> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Chad Dobson, <I>Churchill Downs Incorporated</I> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Brian Fahrney, <I>Sidley Austin LLP</I> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mark Rexroat, <I>PricewaterhouseCoopers LLP</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g804617g05j95.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g804617g05j95.gif
M1TE&.#=A!0$M ,8  /___^?GYZVMK??W][6UM=;6UL[6UL;&QN_O[][>WKV]
MO:6EI<;.SG-S<Y24E(2$A,[.SI2<G(R,C&MK:Z6MK:VUM=;>WG-[>WN$A&-C
M8WM[>YR<G(R4E+W&QEI:6IREI>?O[U)24BDI*1@A(2$I*3$Q,6-K:UIC8[6]
MO4I24B$A(1@8&$)"0CE"0FMS<U):6C$Y.4)*2@@("     @0$  ("$I*2CDY
M.1 0$'M[A-[GYQ 8&(2,C"DQ,924G._W]VMK<W-S>P
M
M
M
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M3V,@B&Z/$L!B8,AJ:(#/&14X@@ !)U!4@PT$\!<  2G4 -5>MOWC( P"= 0
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M )B:'K)0.7(-\L ,*E0*0 #DR&"F(!I A58A/&S8[ "E?57 ?S(42\@!,NQ
M4P10J;N0JH4(4,X*7BY"[@SX&O*#22JTM]&-*:W0ZR <0,4#(1!,BH.%&<R
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M4029;(8#,@ 5XW528LV:8!J%11$VJHPI8U&$W/8&@GO48'F$6(D NS6#$MY
M.+;"XP/*5P@?H!   I@4'@&  18.8@%F*4</=@F 4%VS$:/C7:1@UQY/(N(&
MW1L@2YKAIBJU376,Z.(BB5=+".)2@FA<Q!HC$9:U)6*5,TB!(#Y2CA(B H3;
M5$#&$*< %73$=RJX" M>"$,1K&4#1]. ("3@3;QM8'HT "+9["<XLN0O7\]2
MHB#NV-*?D>!L95-5!3)V-P"PZW>N9"#V9F#+)?[SC#((D"(&"HF"6HMY0 55
M.:"(_HA0.71T/:L+(1"Z@03,Q! 2D"D )'"TA45 H8@(0 B@8M&43 ^MZ&Q=
MO@+ L_:L!)D[*UE.!S&R9EII>O$4YJ0:. B[#<2,C6L(,I-)D9HJPJF*D"C,
M"(&!<MR <0M5W.8$X0) MHEB 5!<#'A 6$$\8 6FPP!4M+6!L7&%4--3J:[(
MY%!]R;4_;FH/J\QV" &XKFS" 4 !M+8"^IBV'&TURF"'>CN\(580(SMF?PCP
ME9-]TC,D,8E!">63EMQ);9^L3\9.4 @43.VRA;@ BG 07$)H8 ?L P#X=M""
ML1T@!8R#WPS:6XC=XD"$G?E5 @>06UE!I06,LT%S1TK _N.*R"4(N.."$8$Q
MC?%SLEL!F;6B*[YZE8 _UC4$!5B V6N]S+$JJ6%\4==30HQL!,U"P/1J*XAG
M;980#Y#!_/3[.)_2RA#,7.S/H-00UQ@B 2;HWJ6.2@BZSL!3A8 H?S$ XT*@
M+I0(^$\*^'.N<IR ?9YQ233/^4VHM'A?,C#N(+Q6 Y$VN01WNR-_"Z"""=^)
M(1C>R@=4@ ,>E'BWUUOI#M((OP0" (2E%41!9#N $T %K72]P8HB/(,/+T(!
M,<A8/C3@ $W&@ 0>*," '.T@!"FH FMUT%ZTD^(:.D  $KB!", 6 ' ZB 8:
MX(T@IE@.&) G !-@R HFL  "_B@#/PE(  5:H"47&&E_)[VU!GQT)?@Y2!\7
M@0"4'"0#&S3@ 0_(@$D2 X$LW3H%%P!W!K0&X!H+H$%:*D$#(I,##^#G 3I8
MQ =^=8,%0  " @B!#&+PU+[4X&V&> I_A:L!'-0@(/D>R,A8Z#41<.  1R$'
M# I^B ,\( 0B& $)X"P!FB@@ R8XCVXR0!X"9$ VE#'!"7SYLP^D0 4KN$YV
MZN6!"9RG =*02@$TX($03$ [!9! "D2@@M)D8 %9X0[,\^*"CLPR-T W00(.
M@'*51V,?$G@!S"\ C2*>P ,/>4#/*4/V:'SQ!/D:  ;^,IO+5&,#$"@Q1!;@
M 1B4_@ &+.@1'%^@YH&<X*FSG(T):+Q0NPRB !\/1C \ '5)<$7OF+@\*#2O
ME4ZT!1EJZ;SH1T_ZTIO^]*A/O>I7S_K6N_[UL(\]Z@=0@+4,P!BW'T@":B^T
M&"=[( 5(0*X04  0""T!D3Q^ E:4["K1?OFR+SVP;>\!!:"F7@90@(4&4*$/
MJ L"$BAVDR^@ !$F@ "0KY($"" !TQW@ UCS. $HY@ *V&FA$VB4D*/_$@2\
ML )'5W@0T&X'@!P(, %K40"O-CG^EP#MQ0$/(0 BM $=T'Z%T $7D"L=4@@+
M4"%;H0%<@8#\UWG^-QR?03$$P'@*D!@#8$6/=QX^XP\"F* I#8 -"J N&_
M-,9]#6 M&U@>$5 I P""+8AY(Y@0_D \,'0V"=  38(U#8  $% 4@P!^"T"%
M<"*"F8,H%6 !I_(9FJ)]!^!!.%9X,$0 3[A0&1  $-!A1Y@4O&![U$5[A6
M,S@<!W  /G-^>[(6?;@QZ%<("L H%$-MB.) S:( \_<I$<$ \_.&D!B)DCB)
(E%B)LA<( #L!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
