Record results in Churchill Downs’ Q3 report

Churchill Downs has reported a 49 per cent jump in its net revenue compared to the prior year quarter, of US$572.5m.

Net income was $61m, up seven per cent on the prior year quarter, while adjusted EBITDA was up 34 per cent at $218.2m.

Revenue was at record levels for the company across its live and historical racing and gaming segments, and adjusted EBITDA was at a record level for its TwinSpires segment.

The report also highlighted that the company completed its acquisition of Exacta Systems on August 22, as well as opening Rosie’s Gaming Emporium in Emporia, Virginia on September 26.

Plans for the design and construction of a new HRM entertainment facility on a 20-acre site in Eastern Daviess County in Kentucky are being finalised, he report stated, with a target opening date of Q1 2025.