Churchill Downs has suspended horse racing at its home track and moved the remainder of its spring meet to Ellis Park after 12 horse fatalities within the last month. The company initiated the suspension and track change in response to the unusual number of deaths. Investigations by the Kentucky Horse Racing Commission and the Horseracing Integrity and Safety Authority have not identified a single factor or discernable pattern linked to the fatalities. Churchill Downs will conduct a top-to-bottom review and CEO Bill Carstanjen expressed deep concern and stated that the incidents were unacceptable. Analysts believe the financial impact is limited, as Churchill Downs doesn’t generate much revenue from racing outside of the Kentucky Derby, and people can still bet on racing online. However, they highlighted concerns about potential reputational damage to Churchill Downs and the sport. Despite the incidents, the 149th Kentucky Derby was financially successful for Churchill Downs, generating record handle and EBITDA.