{"id":200,"date":"2024-06-18T03:36:26","date_gmt":"2024-06-18T00:36:26","guid":{"rendered":"https:\/\/jumbabetnodepositbonuscodes.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-first-quarter-results\/"},"modified":"2024-06-20T17:14:21","modified_gmt":"2024-06-20T14:14:21","slug":"churchill-downs-incorporated-reports-record-first-quarter-results","status":"publish","type":"post","link":"https:\/\/jumbabetnodepositbonuscodes.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-first-quarter-results\/","title":{"rendered":"Churchill Downs Incorporated Reports Record First Quarter Results"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/0KMYnTEm7es\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Churchill Downs Incorporated (CDI) achieved unprecedented financial success in the initial quarter of 2022, amassing $364.1 million in net revenue. This signifies a substantial increase of almost $40 million compared to the corresponding timeframe in the preceding year. <\/p>\n<p>The Louisville-headquartered corporation&#8217;s robust commencement of 2022 was propelled by considerable expansion across both its gaming and equine racing divisions.  <\/p>\n<p>Gaming yielded nearly $1.8 billion in net revenue, a surge exceeding $25 million year-over-year. Concurrently, live and archived horse racing generated $87.2 million, a rise from $64.7 million in the first quarter of 2021.<\/p>\n<p>CDI recognized that the remarkable year-on-year progress of its land-based gaming activities was partially attributed to the elimination of capacity limitations enforced across multiple venues in the initial quarter of 2021. The removal of these constraints also favorably impacted the live and archived racing sector.<\/p>\n<p>&#8220;Oak Grove and Derby City Gaming&#8217;s outcomes demonstrate the advantageous consequences of lifting operational constraints implemented in the first quarter of 2021, in addition to the overall sustained expansion of the enterprise,&#8221; CDI stated, referencing its live and archived racing endeavors.<\/p>\n<p>Concerning its land-based gaming enterprise, Churchill elaborated: &#8220;Net revenue in the first quarter of 2022 escalated by $25.2 million primarily owing to the absence of specific patron and wagering capacity limitations in effect at Oxford, Calder, and Presque Isle in the previous year.&#8221;<\/p>\n<p>Adjusted EBITDA for CDI&#8217;s gaming and live and archived racing segments amounted to $91.1 million and $27 million, correspondingly. <\/p>\n<p>Churchill Downs Incorporated declared unprecedented modified earnings before interest, taxes, depreciation, and amortization (EBITDA) of $128.5 million for the initial quarter of 2022, alongside net income achieving a historical peak of $42.1 million.<\/p>\n<p>This robust outcome transpired despite a decrease in income stemming from the company&#8217;s TwinSpires digital betting service.  Income for this division in the first quarter of 2022 totaled $101.4 million, a reduction from $105 million in the corresponding timeframe of the preceding year. Conversely, TwinSpires&#8217; EBITDA actually saw an uptick from roughly $23 million to $24 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Churchill Downs Incorporated (CDI) achieved unprecedented financial success in the initial quarter of 2022, amassing $364.1 million in net revenue. This signifies a substantial increase of almost $40 million compared to the corresponding timeframe in the preceding year. The Louisville-headquartered corporation&#8217;s robust commencement of 2022 was propelled by considerable expansion across both its gaming and [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Churchill Downs Inc. Reports Record Revenue in 2022<\/title>\n<meta name=\"description\" content=\"Churchill Downs Incorporated (CDI) celebrates a record-breaking start to 2022, with net revenue soaring to unprecedented heights. 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