Saturday September 30, 2023

Churchill Downs Gallops To Record Revenue

  • Churchill Downs reached record quarterly revenue in Q1 2022.
  • The casino owner and iconic home of the Kentucky Derby generated $364 million in revenue during the quarter.
This year's four scratches are the most since the 2015 Kentucky Derby
Louisville Courier Journal-USA TODAY Sports
Front Office Sports Today

Donovan McNabb and the State of Football

From Taylor Swift to the Prime Effect, there's a lot going on in the world of football.
Listen Now
September 29, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

Churchill Downs reached record quarterly revenue in the company’s latest earnings report. 

The casino owner and iconic home of the Kentucky Derby generated $364 million in revenue in Q1 2022, up from $324 million for the same period last year. Churchill Downs saw its gaming segment pocket $179 million in revenue during the quarter, up $25 million compared to Q1 2021. The company benefited from lifted COVID-related restrictions across its properties. 

Churchill Downs expanded its portfolio of properties and improved existing ones in Q1 2022. 

  • It completed the two phases of a $90 million expansion of Rivers Casino Des Plaines.
  • The company purchased Peninsula Pacific Entertainment in a deal valued at $2.5 billion.
  • It agreed to acquire Chaser’s Poker Room with a plan to invest $150 million in the facility. 

The company announced it repurchased 116,863 shares in Q1 2022 for a total cost of $25 million. Churchill Downs is also expecting 150,000 fans at the 148th running of the Kentucky Derby on May 7.

Last year, Churchill Downs saw 51,838 fans attend the “most exciting two minutes in sports.” 

A New Look

Churchill Downs unveiled plans for a redesigned paddock projected to cost between $185 million and $200 million. Set to debut by May 2024, the redesign seeks to increase guest capacity by 1,300 people, provide enhanced visibility of the Twin Spires, streamline guest circulation, and improve the audiovisual experience.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier

Colorado's Epic Victory Sets New ESPN Prime Time Viewership Record

Coach Prime Deion Sanders delivered in prime time on ESPN.
podcast thumbnail mobile
Front Office Sports Today

Donovan McNabb and the State of Football

0:00
0:00

Featured Today

Ryder Cup’s Future Hanging In The Balance Amid Saudi Disruption

An unexpected change could be coming to the Ryder Cup.
September 29, 2023

Colorado Has Become the Hollywood of College Football. This Weekend Proves It.

Folsom Field will welcome dozens of Hollywood stars on Saturday.
Toy Story
September 29, 2023

‘Toy Story’ Success Could Lead to More Disney-Branded NFL Kid-Casts

A successful ‘Toy Story’ game could open the door for other franchises.
Kansas City Chiefs tight end Travis Kelce on field after the game at GEHA Field at Arrowhead Stadium.
September 29, 2023

Taylor Swift Shaking Up Travis Kelce, Chiefs Prop Betting Market

Sportsbooks are capitalizing with Taylor Swift-themed prop bets.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
Taylor Swift reacts while sitting next to Donna Kelce watching the Kansas City Chiefs vs Chicago Bears game during the first half at GEHA Field at Arrowhead Stadium.

Taylor Swift Is Affecting The NFL, Chiefs Ticket Markets

Swift will visit her second NFL stadium in as many weeks.
Resellers who passed $600 in ticket sales on marketplaces such as StubHub and Ticketmaster now need to report their activity to the IRS.
September 25, 2023

IRS Lowers Threshold to Tax Ticket Resellers for Sports, Concerts

The IRS lowered its ticket sales threshold from $20,000 to $600.
Fanatics is buying auction marketplace PWCC.
September 20, 2023

Fanatics Nabbing WWE Rights In Latest Win Over Panini

Fanatics will take over WWE's trading card rights.
August 22, 2023

NFLPA's Abrupt Panini Move Fuels Fanatics' Meteoric Rise

Fanatics was recently valued at $31 billion, with investment from the NFL.
August 16, 2023

Starter Is Cool Again, And Aims for Revival with New Sports Deals

Influential brand from the 1990s readies large-scale comeback
Fanatics is buying auction marketplace PWCC.
August 7, 2023

Collectible Wars Escalating As Fanatics Files Countersuit Against Panini

Countersuit heightens already-fractious conflict between rival companies
Fanatics
August 3, 2023

Panini Files Antitrust Suit Against Fanatics as Collectible Wars Heat Up

Collectibles company claims rival is violating federal law
Fanatics Live will stream live on-location card “breaks” from athletes and celebrities.
July 28, 2023

Fanatics Furthers Push Into Content With New Live Shopping App

Allen Iverson will appear today in a Fanatics Live card break.