Churchill Downs Inc. Celebrates a Record-Breaking Year of Growth and Expansion

In 2022, Churchill Downs Inc. experienced an unparalleled year, achieving unprecedented financial results. Their revenue witnessed a remarkable surge of 13%, reaching an impressive $1.8 billion. This exceptional growth was driven by the extraordinary triumph of the Kentucky Derby, which witnessed record-breaking crowds and betting activity. Furthermore, the company strategically broadened its holdings by acquiring numerous properties, including the renowned Ellis Park Racing & Gaming destination. These combined factors propelled Churchill Downs’ net earnings to an all-time high of $439.4 million, representing an astounding 76% increase compared to the preceding year. The company’s adjusted EBITDA also attained a new benchmark, skyrocketing to $7.636 billion, a clear indication of its robust financial standing. As they look towards the future, Churchill Downs is favorably situated for sustained prosperity, owing to its legendary brand, strategic acquisitions, and the enduring allure of equestrian competition.

The Churchill Downs company is undergoing an expansion. Their recent acquisitions include venues in New York and Iowa, formerly owned by Peninsula Pacific Entertainment. While some of their seven locations experienced a decline in earnings, the robust returns from Maryland’s Ocean Downs Casino balanced out these dips. Additionally, Churchill Downs witnessed a 1.2 million dollar rise in equity holdings during the final quarter of 2022.