Peyton Forte

May 3, 2024 | bloomberg.com | Peyton Forte

The Kentucky Derby is a timeless American affair: A 150-year-old horse race at historic Churchill Downs, with traditions and pageantry that haven’t changed much in a century and a half. But for Churchill Downs Inc., the Louisville, Kentucky-based company that owns the annual Run for the Roses and the race track that hosts it, transformational change is the only path to survival in a world inundated by gambling — but increasingly uninterested in horse racing.