Churchill Downs, owner of the iconic Kentucky Derby horse race and major machine operator with around 11,000 slots, has reported on its fourth quarter and full year for 2019.
The quarter yielded net revenue of $280.6m, up 28 per cent, income of $16.8m, up 95 per cent, and adjusted EBITDA of $73.8m, up 72 per cent. For the year revenue was $1.3bn, up 32 per cent, income up $179.9m, up 19 per cent, and EBITDA of $451.4m, up 37 per cent.
During the year the company completed the acquisition of Presque Isle Downs and Casino and the management of the Lady Luck Casino Nemacolin and Turfway Park. It also completed the 61.3 per cent equity investment in Midwest Gaming Holdings, the parent company of Rivers Des Plaines.
Additionally, the company owns and operates Derby City Gaming in Louisville, Kentucky, and it owns and operates the largest online horse racing wagering platform in the US, TwinSpires.com. The company also operates sports betting and igaming through its BetAmerica platform in multiple stages.
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