Churchill Downs reported a record quarter with $663M in net revenues and $257M adjusted EBITDA, driven by strategic expansion and operational momentum, notably in Kentucky and Virginia.
- Achieved record first-quarter revenue and EBITDA, reflecting strong execution across their diversified portfolio.
- Opened the Marshall Yards HRM facility in Kentucky on schedule, contributing positively to local industry funding and job creation.
- Maintained a favorable legislative environment in Virginia, supporting continued racing and expansion efforts while avoiding restrictive legislation.
- Acquired the IP rights to the Preakness Stakes, enhancing long-term brand and wagering opportunities alongside Derby upgrades.
- Upgrades to Kentucky Derby infrastructure and international expansion plans aim to boost attendance, wagering, and premium experiences through 2028 and beyond.
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