Churchill Downs reports record fourth-quarter revenue

Finance News

CDI reports that Churchill Downs racetrack saw a $77.6 million increase in net revenue primarily due to the running of the 2022 Kentucky Derby without capacity restrictions that were in place in 2021 as well as a $67.8 million increase driven primarily by growth at HHR operations tied to Turfway Park, Churchill (Derby City Gaming), and Oak Grove (a Standardbred track). 

CDI also reports $8 million in revenue attributable to properties acquired in its purchase of Ellis Park and its HHR operations as well as Chasers Poker Room in Salem, N.H.

Net revenue for 2022 increased $215.8 million primarily due to $62.4 million in revenue attributable to the Virginia properties and adjusted earnings for 2022 increased $112.5 million due to a $30.1 million increase attributable to the Virginia properties.