Welcome to our dedicated page for Church Downs news (Ticker: CHDN), a resource for investors and traders seeking the latest updates and insights on Church Downs stock.
Churchill Downs Incorporated operates a racing, online wagering, and regional gaming business built around Churchill Downs Racetrack and the Kentucky Derby. Company updates cover Kentucky Derby Week, the Kentucky Oaks, seasonal race meets, TwinSpires wagering activity, and the operation and expansion of live and historical racing entertainment venues.
Recurring CHDN news also includes regional casino gaming properties, historical racing machine venues such as Marshall Yards, quarterly operating results, dividends, share repurchases, leverage, and regulatory or legal matters affecting pari-mutuel racing and racing-industry fees.
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Churchill Downs Incorporated (Nasdaq: CHDN) reported a record net revenue of $559.5 million for Q1 2023, up from $364.1 million in Q1 2022. Net income soared to $155.7 million compared to $42.1 million a year earlier, with a diluted EPS of $4.09. Adjusted EBITDA reached a record $222.9 million, reflecting a 74% increase from $128.5 million in Q1 2022. Significant growth was observed across all segments, with Live and Historical Racing up 194%, Gaming up 42%, and TwinSpires increasing by 22%. The company also closed the sale of Arlington Heights property for $197.2 million and amended its credit agreements, raising a total of $600 million through senior notes. A two-for-one stock split was announced, effective May 22, 2023.