Kentucky Derby powers Churchill Downs to record Q2

Churchill Downs Incorporated posted record second-quarter net revenue of $980m, up five per cent year-on-year, while Adjusted EBITDA increased six per cent to an all-time high of $477m.

Net income attributable to the company rose 11 per cent to $241m.

The operator said record financial performance was driven by another successful Kentucky Derby Week, with growth across wagering, media rights, sponsorship, ticketing and licensing revenue.

Its Live and Historical Racing segment also benefited from continued expansion of historical racing machine operations in Kentucky and Virginia, with recent property investments contributing to higher revenue and earnings.

Chief Executive Officer Bill Carstanjen said: “Our flagship Kentucky Derby event and our historical racing machine venues continue to deliver exceptional results, demonstrating the strength of our unique portfolio of racing and gaming assets.”

Churchill Downs said it remains focused on expanding its historical racing footprint while continuing to invest in the long-term growth of its iconic racing operations.