In the first quarter, the company achieved record net revenue of $559.5 million, compared to $364.1 million in the same period last year, along with an impressive net income of $155.7 million. Their Adjusted EBITDA also reached a record high of $222.9 million. The three reporting segments, Live and Historical Racing, TwinSpires, and Gaming, all delivered record Adjusted EBITDA, with substantial growth percentages compared to the first quarter of 2022. Additionally, they closed the sale of their Arlington Heights property and made significant amendments to their credit agreement. In the second quarter, the company continued its success with record net revenue of $768.5 million and net income of $143.0 million, along with a record Adjusted EBITDA of $363.7 million. The Live and Historical Racing segment achieved all-time high revenue and Adjusted EBITDA, driven by the 149th Kentucky Derby’s success and the new First Turn Experience. The Gaming segment also delivered record revenue and Adjusted EBITDA. Moreover, the company opened a new hotel and entertainment venues and completed a two-for-one stock split. These results demonstrate the company’s strong performance and strategic initiatives.
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CHURCHILL DOWNS INC 27/07/2023
Date de publication :27/07/2023