Midterm Elections Could Give Churchill Downs an Edge

Jefferies Equity Research analyst David Katz said in an investor note that the midterm election process is positive for Churchill Downs, but the same does not apply to Las Vegas Sands.

According to Katz, local referendums on historical horse racing (HHR) machines in Virginia's Amherst and Pulaski counties are expected to result in favor of Churchill Downs. These machines are known as devices that use the results of traditional horse races and allow betting to take place.

The analyst said Churchill Downs could profit from these developments, while Las Vegas Sands is not expected to gain a similar advantage.

The assessment in the report reflects only one analyst's view. The actual results of the referendums and their impact on the companies will become clear once the election process is complete.