LOUISVILLE, Ky., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI", "we") today reported business results for the quarter and full year ended December 31, 2024. Company Highlights Record fourth quarter 2024 financial results compared to the prior year: Net revenue of $624.2 million, up $63.0 million or 11%Net income attributable to CDI of $71.7 million, up $14.1 million or 24%Adjusted EBITDA of $236.6 million, up $17.5 million or 8% Record 2024 financial res ...

$100 Million Investment Provides World-Class Entertainment While Supporting Purse Funding for Ellis ParkOWENSBORO, K.Y., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) today announced the grand opening of Owensboro Racing & Gaming, the Company’s seventh premier historical horse racing entertainment venue in Kentucky. The $100 million gaming and entertainment venue in Owensboro, Kentucky, features 600 state-of-the-art historical racing machines (“HRM”), ...

OWENSBORO, K.Y., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or "the Company") (NASDAQ:CHDN) today announced the grand opening of Owensboro Racing & Gaming, the Company's seventh premier historical horse racing entertainment venue in Kentucky. The $100 million gaming and entertainment venue in Owensboro, Kentucky, features 600 state-of-the-art historical racing machines ("HRM"), a retail sportsbook, simulcast wagering, and multiple food and beverage options. The new HRM entertainme ...

The market expects Churchill Downs (CHDN) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be re ...

Dublin, Jan. 13, 2025 (GLOBE NEWSWIRE) -- The "Horse Racing Market - Forecasts from 2025 to 2030" report has been added to ResearchAndMarkets.com's offering.The global horse racing market is expected to grow at a CAGR of 7.45%, reaching a market size of US$182.393 billion in 2030 from US$127.339 billion in 2025. Report Coverage: Historical data & forecasts from 2022 to 2030Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend AnalysisCompetitive Positi ...

LOUISVILLE, Ky., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release fourth quarter and full year 2024 financial results after the market closes on Wednesday, February 19, 2025, and host a related conference call to discuss the quarter on Thursday, February 20, 2025, at 9 a.m. ET. Investors and other interested parties may listen to the call by accessing the online, real-time webcast at http://ir.churchilldownsincorporated.com ...

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Financial Data and Key Metrics Changes - The company achieved record net revenue and adjusted EBITDA in Q3 2024, with a 10% growth in revenue and an 8% growth in adjusted EBITDA quarter-over-quarter [6][16][15] - Virginia HRM properties were the primary driver of adjusted EBITDA growth, increasing by $15 million or 40% compared to the prior year quarter [16][17] - Free cash flow reached a record $591 million or $7.93 per share in the first nine months of the year, up nearly $145 million or 32% over the same period in 2023 [21] Business Line Data and Key Metrics Changes - The Live and Historical Racing segment and Gaming segment both reported record third-quarter revenue and adjusted EBITDA [6][16] - The TwinSpires segment also achieved record adjusted EBITDA for the third quarter [16] - Virginia HRM properties generated a combined margin of over 54%, up over 6 points compared to the prior year quarter [18] Market Data and Key Metrics Changes - The company opened a new HRM property in Dumfries, Virginia, with 1,650 machines, and plans for a grand opening on November 7, 2024 [10] - The company is expanding HRMs in Richmond, Virginia, adding approximately 100 games during Q3 and anticipating an additional 400 by the end of 2025 [12] - The Kentucky HRM properties performed well, with Oak Grove continuing to grow through market penetration [18] Company Strategy and Development Direction - The company is focused on significant renovations and expansions at Churchill Downs Racetrack, including the Starting Gate Pavilion project, which will enhance seating and amenities [6][7][9] - The company plans to introduce a significant Kentucky Derby qualifying race in Virginia in 2025, increasing race days from 27 this year to 44 in 2025 and 50 in 2026 [13] - HRMs and Exacta's HRM technology are identified as key strategic focuses for the next five to ten years, providing high growth and high margin opportunities [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth opportunities in Virginia, citing improvements in operating processes and game selection [25][51] - The company is committed to delivering superior returns for shareholders and is confident in its ability to generate consistent adjusted EBITDA growth with nominal levels of risk [15][22] - Management acknowledged challenges in downtown Louisville but is focused on improving profitability through cost management and marketing efforts [38] Other Important Information - The Board of Directors approved a 7% increase in dividends, marking the 14th consecutive year of increased dividends per share [22] - The company expects to spend between $450 million and $550 million on project capital for the year, with a focus on ongoing expansions and renovations [21] Q&A Session Summary Question: Progress in Virginia - Management highlighted successful execution in Virginia, with the opening of the Dumfries property and plans to deploy additional HRMs [24][25] Question: M&A Strategy - The company is focused on acquiring businesses where it can improve operations and drive long-term growth, with a promising M&A pipeline [29][30] Question: Project Pipeline and Profitability - Management discussed confidence in the Richmond expansion and acknowledged slower ramp-up at Derby City downtown due to post-COVID challenges [34][38] Question: Growth Drivers Beyond 2024 - Management indicated ongoing international opportunities for Exacta and potential growth in other jurisdictions [41][42] Question: HRM Consumer Strength - The company attributed strong demand in Virginia and Kentucky to the non-mature nature of the HRM product and ongoing improvements [59] Question: Balance Sheet and Growth Opportunities - Management noted that a stronger balance sheet allows for larger growth projects and investments [61][62] Question: Future Capacity in Virginia - Management expressed hope for expanding HRM capacity in Virginia, contingent on state willingness [65][66]

CHURCHILL DOWNS ＩＮＣＯＲＰＯＲＡＴＥＤ Investor Presentation October 23, 2024 Forward-Looking Statements Certain statements made in this presentation contain various "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "seek," "should," "will," " ...

Churchill Downs (CHDN) reported $628.5 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 9.8%. EPS of $0.97 for the same period compares to $0.87 a year ago.The reported revenue represents a surprise of -0.70% over the Zacks Consensus Estimate of $632.96 million. With the consensus EPS estimate being $0.96, the EPS surprise was +1.04%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...