Churchill Downs Racetrack to resume live racing following safety review
Churchill Downs Racetrack will resume live racing from September 14.
US.- Churchill Downs Incorporated (CDI) has announced that Churchill Downs Racetrack will resume live racing for the scheduled meet on September 14. The meet will take place following a temporary suspension of racing operations to conduct an internal safety review.
Racing was suspended in June after a number of horse injuries, including 12 fatalities. Although no factor was identified as a potential cause, CDI relocated races in order to conduct a review of safety and surface protocols.
Following an evaluation of safety protocols and industry best practices, Churchill Downs says it has implemented several enhancements to ensure the safety and well-being of equine and human athletes. These include infrastructure upgrades, increased veterinary oversight, collaboration with industry experts and the creation of a safety management committee.
CDI says analysis by industry experts found no issues with racing surfaces, however, it has invested in additional new surface maintenance equipment and committed to doubling the frequency of surface testing. Additional resources will be added to CDI’s veterinary team to provide additional monitoring and care for horses and assist in pre-race inspections and entry screening.
Bill Carstanjen, CEO of CDI, said: “We are excited to resume live racing again at Churchill Downs. Our commitment to safety remains paramount as we enter this September meet and our participants, fans and the public can be assured that we will continue to investigate, evaluate and improve upon every policy and protocol.”
Churchill Downs Q2 revenue rises
Churchill Downs Incorporated (CDI) has reported record revenue for the second quarter of 2023, However, net income dropped compared to last year. The company’s live and historical racing and gaming segments achieved new adjusted EBITDA highs, helping CDI achieve a new record in overall adjusted EBITDA. Net revenue for the quarter was $768.5m, up 32 per cent year-over-year in comparison to Q2 2022’s $582.5m.
The company’s adjusted EBITDA was $363.7m, a 25 per cent increase compared to the previous year’s $291.2m thanks to the performances of live and historical racing and gaming segments. However, net income fell by 58 per cent to $143m (Q2 2022: $339.3m).
