Churchill Downs has recorded a record breaking revenue during the most recent quarter, seeing a six per cent increase from the same period last year.

Churchill Downs Records Record Breaking Revenue

During the quarter that concluded on March 31st, Churchill Downs recorded a net revenue of $590.9 million, which as previously mentioned, is a six percent increase from 2023.

This was not the only revelation to come from these recent reports, as net income dropped by 48% from the same quarter in 2023 – finishing on $80.4m.

Howver, the Adjusted EBITDA reached a new record for Churchill Downs, reaching $242.5m and increasing by nine percent from the previous year.

During Q1 there was a scattered growth, with two out of the three focused sections were subject to an increase, as Live and Historical Racing revenue increased by 14.3% to $245.1m.

Churchill Downs’ growth came down to a host of reasons, but one of the key factors is its Kentucky Properties – earning $18.3m in revenue.

A further $13.5m was made in revenue from the Virginia venues and CD also identified the new Rosie’s Emporia site as a key location after opening in September last year.

However, Churchill Downs was less successful in the Gaming industry, seeing a 4.3% decline in revenue with £239.2m – which came as a surprise as Gaming was the biggest pool of revenue during Q1 in 2023.

Another huge milestone for Churchill Downs came during this quarter, as The Rose Gaming Resort was announced and is set to open in September this year.

Around 500 additional HRMs will be added upon the opening, which takes the final total to 1,659 and it will also receive a $460m investment.

Further announcements were made for new developments, as the Owensboro Racing & Gaming set to unveil in Q1 of 2025.

This will include a further 500 HRMs and a new retail sportsbook, which will act as a ‘simulcast wagering’ site with food/drink available.