{"id":275,"date":"2024-06-28T08:25:08","date_gmt":"2024-06-28T05:25:08","guid":{"rendered":"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/"},"modified":"2024-06-28T08:25:08","modified_gmt":"2024-06-28T05:25:08","slug":"churchill-downs-incorporated-reports-record-first-quarter-earnings","status":"publish","type":"post","link":"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/","title":{"rendered":"Churchill Downs Incorporated Reports Record First Quarter Earnings"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/KzIiiuCuSgw\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Churchill Downs Incorporated (CDI) commenced 2021 with a strong start, establishing a new benchmark for the initial three months concluding on March 31st.<\/p>\n<p>Churchill Downs&#8217; earnings reached an unprecedented peak of $364.1 million in the opening quarter, marking a 12.3% surge compared to the corresponding period in 2021. This translates to $364.1 million (\u00a3290.4 million\/\u20ac345.9 million) and signifies a new company record.<\/p>\n<p>Gaming emerged as the leading performer in the first quarter, with revenue attaining $179.2 million, representing a 16.4% year-on-year increase. This growth was fueled by the relaxation of capacity limitations at its Oxford Casino Hotel in Maine, Calder Casino in Florida, and Presque Isle Downs in Pennsylvania.<\/p>\n<p>The gaming division is poised for further expansion through the acquisition of Peninsula Pacific Entertainment, which will incorporate assets in New York, Virginia, and Iowa into CDI&#8217;s holdings.<\/p>\n<p>The operator&#8217;s advance deposit wagering enterprise, Twinspires, closely trailed with revenue of $101.4 million. This reflects a slight year-on-year decline, attributed to a reduction in horse racing earnings. However, this downturn was partially offset by growth in its sports and casino operations. The business is undergoing a gradual phase-out.<\/p>\n<p>CDI&#8217;s live and historical horse racing business witnessed a 34.8% surge in revenue. The company attributed the $87.2 million in total revenue to heightened income from its Kentucky Oaks and Derby City gaming venues.<\/p>\n<p>Adjusted EBITDA reached $128.5 million, contrasting with $110.6 million in the inaugural quarter of 2021. <\/p>\n<p>With the easing of COVID-19 limitations, numerous hotels returned to full functionality. This led to a considerable 14.1% rise in operational expenditures for the current quarter, reaching a total of $316.7 million. Although operational earnings achieved a modest increase compared to the same period last year, reaching $47.4 million, interest expenses of $21.3 million resulted in a reduction in profits.<\/p>\n<p>However, a $32.5 million equity share from non-consolidated subsidiaries helped to mitigate some of these losses, boosting pre-tax profits by $11.2 million to $58.6 million. After accounting for $16.5 million in income taxes, CDI&#8217;s net profit for the quarter amounted to $42.1 million, representing a 16.6% year-on-year improvement.<\/p>\n<p>Sign up for the iGaming news newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Churchill Downs Incorporated (CDI) commenced 2021 with a strong start, establishing a new benchmark for the initial three months concluding on March 31st. Churchill Downs&#8217; earnings reached an unprecedented peak of $364.1 million in the opening quarter, marking a 12.3% surge compared to the corresponding period in 2021. This translates to $364.1 million (\u00a3290.4 million\/\u20ac345.9 [&hellip;]<\/p>\n","protected":false},"author":1,"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 Soars to Record Q1 Earnings<\/title>\n<meta name=\"description\" content=\"Churchill Downs Incorporated sets a new record with Q1 earnings reaching $364.1 million, driven by strong gaming performance.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Churchill Downs Incorporated Reports Record First Quarter Earnings\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Churchill Downs Incorporated sets a new record with Q1 earnings reaching $364.1 million, driven by strong gaming performance.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Explore the Best Licensed Casino Games &amp; News Online\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T05:25:08+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/\",\"url\":\"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/\",\"name\":\"Churchill Downs Soars to Record Q1 Earnings\",\"isPartOf\":{\"@id\":\"https:\/\/7bitnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-28T05:25:08+00:00\",\"dateModified\":\"2024-06-28T05:25:08+00:00\",\"author\":{\"@id\":\"https:\/\/7bitnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Churchill Downs Incorporated sets a new record with Q1 earnings reaching $364.1 million, driven by strong gaming performance.\",\"breadcrumb\":{\"@id\":\"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/7bitnodepositbonus.icu\/2024\/06\/28\/churchill-downs-incorporated-reports-record-first-quarter-earnings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/7bitnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Churchill Downs Incorporated Reports Record First Quarter Earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/7bitnodepositbonus.icu\/#website\",\"url\":\"https:\/\/7bitnodepositbonus.icu\/\",\"name\":\"Explore the Best Licensed Casino Games &amp; News Online\",\"description\":\"Unleash your gambling potential with the help of our comprehensive casino news, detailed game reviews, and informative insights. 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