Churchill Downs Inc. reported record revenue and earnings for 2024.
Revenue rose 11%, to $2.7 billion for the year, and adjusted earnings rose 13% to $1.2 billion.
The Louisville, Ky.-based company noted in a news release that the Kentucky Derby at its flagship track record all sources and record adjusted earnings for Derby week.
Revenue from live and historical racing rose to $1.3 billion, including $57.2 million generated by Derby week. New gaming operations in Virginia also contributed to the increase.
Adjusted earnings for live and historical racing rose by $99.2 million to $574.6 million.
CDI's revenue from gaming operations for the year rose by $70.8 million to $1.0 billion. The opening of a casino in Terre Haute, Ind., generated $96.6 million in revenue, which was partly offset by decreases in other properties. Inclement weather, regional gaming softness and increased competition contributed to the declines, as did a $10.2 million decrease related to the company's decision not to renew its management agreement for the Lady Luck casino in Farmington, Pa.
