Churchill Downs reports revenue of $628.5m for Q3

Revenue for the third quarter increased 9.3 per cent year-on-year.

US.- Churchill Downs Incorporated (CDI) has reported financial results for the quarter ended September 30. Revenue was $628.5m, up 9.3 per cent compared to the same period last year. The company stated that revenue increased thanks to growth from properties in Virginia and the opening of the Rosie’s Emporia property in September 2023.

Net income attributable to CDI rose 6.9 per cent to $65m. The operator also achieved record adjusted EBITDA of $235.3m, up 7.5 per cent from Q3 2023. Adjusted EBITDA set new records in both the gaming and TwinSpires segments.

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Live and Historical Racing revenue was up 12 per cent to $252.4m and adjusted EBITDA up 15 per cent. TwinSpires revenue in the quarter was $118.7m, up 6 per cent, and adjusted EBITDA was $42.5m. Gaming revenue increased 10 per cent to $273.3m and adjusted EBITDA 1 per cent to $123.3m.