
• Reported GAAP EPS of $1.16 up 13.73% YoY • Reported revenue of $663M up 3.17% YoY
Bullish
Churchill Downs, Inc. achieved record net revenue of $663M and Adjusted EBITDA of $257M, with net income up 8%. The company is expanding with a $180M casino investment and acquiring Preakness Stakes intellectual property.
Bearish
Gaming revenue for Churchill Downs, Inc. decreased -$5M, mainly from ceased Louisiana HRM operations and Florida/Mississippi properties. Increased competition and unfavorable weather also impacted Virginia HRM venues.